LOCAL ECONOMIC DEVELOPMENT: Government of Canada invests $245 million in renewal of commitment to SADCs and CAEs
At its annual congress, the Réseau des SADC et CAE joined the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for Canada Economic Development for Quebec Regions (CED) in announcing new five-year funding agreements concluded between CED, the Réseau and Quebec’s 67 SADCs (sociétés d’aide au développement des collectivités) and CAEs (centres d’aide aux entreprises).
These investments, totalling $245 million, will ensure that our organizations can continue to operate and to equitably deliver the main business lines of the SADCs and CAEs (local economic development and support and funding for entrepreneurs) throughout rural and semi-urban Quebec. The SADCs and CAEs will also be able to strengthen their work at the local level and enhance their efforts to address the economic issues that entrepreneurs are currently facing.
“Quebec’s regions are dealing with their own particular economic challenges, and the SADCs and CAEs are here to help them rise to meet those challenges,” said Pascal Harvey, President and General Director of the Réseau des SADC et CAE. “We have great ambitions for our regions. With our main business partner, Canada Economic Development for Quebec Regions, and in collaboration with local partners, we will continue to drive collective and business projects forward to success.”
Targeted investment to address issues facing entrepreneurs
This new agreement with the Government of Canada will enable SADCs and CAEs to create new financial products to help entrepreneurs tackle their priority economic issues, such as the digital and green transition and various aspects of business transfers and youth entrepreneurship.
Funding to strengthen our local efforts and draw on the Réseau’s vast network of national expertise
Each SADC and CAE will have access to $335,000 in additional funding to support its work in local economic development and technical support for entrepreneurs. The Réseau will receive an envelope as well, so it can strengthen its advisory role and provide more services to the 67 SADCs and CAEs, including by hiring new shared resources and providing increased support for optimizing business processes.
“SADCs and CAEs make a real difference in our communities and our businesses, all across Quebec,” said the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED. “For 29 years now, CED has been proud to be able to count on the Réseau and its members as true key partners in achieving prosperity in our regions and their businesses. Bravo to the professionals and volunteers in your organizations who are such attentive stewards of Quebec’s entrepreneurial ecosystem.”
Overall, these new agreements will enable SADCs and CAEs to carry out their missions close to home while drawing on the expertise of the Réseau’s vast network to assist their local communities and entrepreneurs. Their efforts are skilled, personalized and people-focused, and they make a real difference to the development, the success and ultimately the survival of businesses. Just ask Pascale St-Amand, owner of Crèmerie du Potager in Rivière-du-Loup: “I got funding from the SADC, but more importantly, I got supportive guidance I could count on. I was impressed by my advisor, Sylvie, and her ability to look at the big picture. She helped me find a huge range of potential solutions for my business project.”
Some SADC and CAE impacts on Quebec’s economy
Investing in SADCs and CAEs pays off! According to an Aviseo Conseil study, between 2019 and 2023, SADCs and CAEs increased Quebec’s real GDP by $458 million. Of that total, $85 million came from our loan investments and $273 million was generated by the improved five-year survival rate of companies supported by SADCs and CAEs. A Statistics Canada study found that the five‑year survival rate for SADC and CAE clients was more than double that of other businesses.
About the Réseau des SADC et CAE
The Réseau des SADC et CAE is a network of 57 SADCs (sociétés d’aide au développement des collectivités) and 10 CAEs (centres d’aide aux entreprises) that have been working in community economic development for more than 35 years. More than 1,000 professionals and volunteers support and provide funding to more than 10,000 entrepreneurs and 1,000 local economic development projects every year. www.sadc-cae.ca
Community Futures Program (CFP)
This Canada-wide program supports local economic development and strengthens communities’ capacity to sustainably achieve their full potential. Its main objectives are:
- Stability, economic growth and job creation
- Diversified, competitive local economies in rural areas
- Developing sustainable communities
For this program, CED provides financial support to the SADCs and CAEs that are working in community development in Quebec’s regions.
INFORMATION
Christine Pilote, Director, Communications | Phone: 581-999-6363 | [email protected]
