Bakery to modernize and expand in Marystown area

A Burin Peninsula bakery will modernize to increase its business with help from the Department of Innovation, Trade and Rural Development. Anne Brown who operates Anne�s Bakery of Salt Pond will receive $37,500 from the department�s Small Business Seed Capital Equity Program for building improvements and machinery and equipment modernization. The company will receive a further $2,500 from the department�s Business and Market Development Program to market and promote the business.

"Ms. Brown has operated a bakery for six years providing fresh products to the public while creating jobs for three people, in addition to herself. This funding will allow her to expand her business in a new and busier locale which should allow her to increase her sales and increase her staff by one. It is expected her new equipment will make her production more efficient," said Kathy Dunderdale, Minister of Innovation, Trade and Rural Development. "I applaud Ms. Brown for her entrepreneurship and for creating another job in rural Newfoundland and Labrador."

Ms. Brown has established a market niche and a clientele of dedicated customers through out the region and demand for her products is growing. The business requires upgrades to it equipment to keep up with the expanding market and the new location will give her even greater visibility.

The Small Business Seed Capital Equity Program makes equity contributions of up to $50,000 available, on a matching basis, to new entrepreneurs or existing small businesses seeking expansion opportunities in areas of the economy that offer significant growth potential.

The Business and Market Development Program provides funding to new entrepreneurs and expanding small businesses to help them acquire the necessary expertise to pursue new business ideas and markets in new growth areas of the economy. Government funding must be matched by an equal amount provided by the business.

Media contact: Lynn Evans, Communications, (709) 729-4570

2004 08 26                                        9:10 a.m.