Recent immigrants to the province of Nova Scotia who wish to establish their own businesses will soon have access to funding support from the provincial credit unions. The Immigrant Small Business Financing Program can offer immigrants who have lived in Nova Scotia for less than five years up to $150,000 to help start, expand, or buy a small business.

"Access to economic opportunities are key factors in a new immigrant's decision to stay or leave the province," stated Nova Scotia Immigration Minister Len Goucher. "By setting up businesses, new immigrants will also establish stronger roots in local communities, roots that will help newcomers integrate and, ultimately, settle in Nova Scotia."

Some newcomers to Canada have trouble getting funding from Canadian banks, which do not always recognize international credit history. In 2007, more than 150 newcomers interested in starting a new business sought assistance from the Metropolitan Immigrant Settlement Association.

Small business is big business in Nova Scotia, representing 92 per cent of all business in the province.

"Small businesses drive the Nova Scotia economy," said Nova Scotia Economic Development Minister Angus McIssac. "This program will help ensure immigrant entrepreneurs have the opportunity to become small business owners in this province and generate jobs.