Business Retention and Expansion Program

For many established businesses, the biggest barrier to growth isn’t access to capital—it’s gaining clear, objective insight into what’s working, what isn’t, and where future opportunities lie. Businesses in Newfoundland and Labrador looking to strengthen their operations and plan for sustainable growth may benefit from the Business Retention and Expansion Program, delivered by the Department of Industry, Energy and Technology. This initiative focuses on helping existing businesses identify challenges and opportunities that affect long-term success.

Through the program, participating businesses work one-on-one with an Economic Development Officer who takes a holistic look at the organization. Areas such as marketing and sales, day-to-day operations, financial management, human resources, leadership practices, and long-term goals are reviewed in detail. Rather than offering generic advice, the process is designed to uncover practical issues that may be limiting growth or retention, while also highlighting opportunities that business owners may not have identified internally. The result is a prioritized action plan that connects businesses to relevant programs, services, and follow-up support where appropriate.

Support is non-repayable and tailored to the specific needs of each business, making it particularly valuable for companies that want expert guidance without taking on additional financial risk. Businesses meeting certain requirements and operating in a wide range of industries can explore whether this hands-on advisory support aligns with their next stage of development by reviewing the full program details.