The Réseau des SADC et CAE is very pleased with today's announcement by Mr. Greg Fergus, Parliamentary Secretary to the Minister of Innovation, Energy and Sustainable Development.
Mr. Navdeep Bains, Minister of Science and Economic Development and Minister responsible for Canada Economic Development for Quebec Regions (CED), on the signing of a new three-year agreement between CED and Quebec's CFDCs (Community Futures Development Corporations) and BDCs (Business Development Centres).
More than 86 M$ will thus be injected into the regions via the 67 member corporations of the Réseau des SADC et CAE. According to Daniel Dumas, President of the Réseau des SADC et CAE, "this is excellent news, enabling our members to continue their work in the field with entrepreneurs and municipalities. Over the past 37 years, our role has evolved and our expertise consolidated, enabling us to respond in a relevant and effective way to the socio-economic issues we face. We believe that the excellent results of the work of the 400 professionals and 1,350 volunteers of CFDCs and BDCs, who work for the economic development of their communities, have been recognized and have greatly influenced the Government of Canada in its decision-making."
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his announcement also confirms Canada Economic Development's contributions to the Special Initiatives that enable CFDCs to support local development projects and job placements for young people. CFDCs and CBDCs will also be prioritizing interventions with entrepreneurs in the fields of innovation, business transfer, sustainable development and information technology, areas in which they have developed solid expertise over the years.
In addition, the age limit for participation in the Youth Strategy initiative has been raised from 35 to 39 inclusive. This initiative gives young entrepreneurs, or those wishing to become entrepreneurs, access to financing and support tailored to their needs.
Finally, these agreements will provide an opportunity to maintain and consolidate this fruitful partnership with the Government of Canada, for the benefit of the citizens of Quebec's regions.
Some results of our work
- 8.25 M$ are invested in ongoing local development projects.
- 10,000 entrepreneurs receive services from a CFDC or BDC every year, with average investments of $60 M$.
- Since 1997, 8,614 young entrepreneurs have been supported and financed by CFDCs and BDCs, representing a total investment of $107.5 M$.
- According to a recent Statistics Canada study, businesses supported by CFDCs and BDCs have a significantly higher survival rate (76 % after five years of existence, compared with 50% for the control group).
About the Réseau des SADC et CAE
The Réseau des SADC et CAE (www.sadc-cae.ca) brings together 57 CFDCs and 10 BDCs that have been working for over 35 years to develop their communities. The network's 400 professionals and 1,350 volunteers initiate and support structuring projects in their communities, and accompany entrepreneurs in their projects.
Community Futures Program (CFP)
This program, implemented by CED in Quebec, provides funding for the operations of Canada's 269 CFDCs and BDCs. The CFP is a program that recognizes the expertise of local decision-makers and the autonomy of decision-making, in order to stimulate the participation of communities in taking charge of their own future.