Like previous studies, this eighth report from Statistics Canada on the performance of the Community Futures Program (CFP), delivered by CFDCs and BDCs, once again confirms that companies doing business with a CFDC or BDC in Quebec have a better survival rate, create more than double the number of jobs, and increase their payroll and sales more rapidly. And it's worth noting that the five-year survival rate for our clients rose by seven points this year, to 87 %, compared with 53 % for the other companies in the control group.
HIGHLIGHTS
- Improved survival rate companies: The survival rate of these companies is 87 % after five years of existence, compared with 53% for those in the control group.
- More than double the number of jobs created average increase of 3.3 % per year compared with 1.3 % in the control group.
- Faster sales growth: average annual sales increase of 5.2 % compared with 3.14 % for the control group.
- Faster growth in corporate payroll : 4.9 % on average per year, versus 2.9 % in the control group.
- Increasing workforce productivity : increase in sales per employee of 2.5 % compared with 2.3 % for the control group.
This study has been produced since 2009 by Canada Economic Development for the regions of Quebec, in collaboration with Statistics Canada. It compares, on various indicators, the group of CFDC and BDC client companies to a control group of similar companies that have not used their services. Companies surveyed had 100 employees or less. It should be noted that the study reveals even more significant CFP performance among companies with fewer than 20 employees.
About the Réseau des SADC et CAE
The Réseau des SADC et CAE (www.sadc-cae.ca) comprises 57 SADCs and 10 CAEs that have been working for 35 years to develop their communities. The network's 400 professionals and 1,350 volunteers initiate and support structuring projects in their communities, and assist entrepreneurs with their projects. Every year, more than 10,000 entrepreneurs in Quebec are supported and financed by CFDCs and CBDCs. What's more, 2M$ is invested by Quebec's CFDCs in over 1,000 collective projects every year.
About the Community Futures Program (CFP)
The CFP is a federal government program that funds the operations of 269 CFDCs and BDCs across Canada, including 67 in Quebec. 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.