“Identifying gaps and inefficiencies in an organization’s operations that hinder competitiveness in today’s global market.”
Since 2014, the PIC has assisted over 55 SMEs through the Productivity Assessment and Implementation Program, resulting in over $1.2million in business investment. This unique, two-phase program provides eligible SMEs (see eligible sectors below) with up to $9,000 support to have a qualified consultant critically examine their operations, and identify and address issues and opportunities. APPLY NOW.
The firms from the following sectors are eligible for funding support under this program:
*PIC assists manufacturing firms to access funding through FedNor’s Targeted Manufacturing Initiative. This program covers $2,500 (50%) of the assessment cost.
Click here to view or download the Productivity Assessment and Implementation Program flyer.
Phase 1 – Productivity Assessment
In Phase I, approved SMEs receive up to $4,000 (80%) grant funding to subsidize the cost of an operational assessment, with the firm only having to contribute $1,000 toward this cost. Our clients select an expert from the PIC bank of consultants, which is a vetted list of consultants that offer expertise in various areas of business and industry sectors. The consultant will meet with the firm’s management and owners in order to go through and evaluate ten functional areas of the SME’s operations. Following the assessment process, the consultant will compile a detailed evaluation report that identifies the business’ strengths, market and other opportunities, areas that can be improved, and recommendations to improve productivity and efficiency. The PIC Programs Manager will meet with the SME to discuss the findings of the consultant’s report and work with the firm on a plan to address the top issues and/or opportunities for the business.
Phase 2 – Implementation Project
In Phase II, clients can apply for up to $5,000 (80%) grant funding to implement the plan to address the findings of the Phase I report, working toward innovation and operational efficiencies. Examples of what the grant funding can be applied to include:
- Equipment upgrades and modernization;
- Digitization and automation of work processes;
- Development and implementation of marketing, branding, and business strategies;
- Information and communications technology, computer programming, software and hardware;
- Applied research projects, prototype development, and commercialization.