{"id":5662,"date":"1970-01-01T00:00:00","date_gmt":"1970-01-01T05:00:00","guid":{"rendered":"https:\/\/www.sadc-cae.ca\/local-economic-development-government-of-canada-invests-245-million-in-renewal-of-commitment-to-sadcs-and-caes\/"},"modified":"1970-01-01T00:00:00","modified_gmt":"1970-01-01T05:00:00","slug":"local-economic-development-government-of-canada-invests-245-million-in-renewal-of-commitment-to-sadcs-and-caes","status":"publish","type":"post","link":"https:\/\/www.sadc-cae.ca\/fr\/local-economic-development-government-of-canada-invests-245-million-in-renewal-of-commitment-to-sadcs-and-caes\/","title":{"rendered":"LOCAL ECONOMIC DEVELOPMENT: Government of Canada invests $245 million in renewal of commitment to SADCs and CAEs"},"content":{"rendered":"

LOCAL ECONOMIC DEVELOPMENT: Government of Canada invests $245 million in renewal of commitment to SADCs and CAEs<\/p>\n

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At its annual congress, the R\u00e9seau 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 R\u00e9seau and Quebec\u2019s 67 SADCs (soci\u00e9t\u00e9s d\u2019aide au d\u00e9veloppement des collectivit\u00e9s<\/em>) and CAEs (centres d\u2019aide aux entreprises<\/em>).<\/p>\n

These investments, totalling $245\u00a0million, 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.<\/p>\n

\u201cQuebec\u2019s regions are dealing with their own particular economic challenges, and the SADCs and CAEs are here to help them rise to meet those challenges,\u201d said Pascal Harvey, President and General Director of the R\u00e9seau des SADC et CAE. \u201cWe 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.\u201d<\/p>\n

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Targeted investment to address issues facing entrepreneurs<\/strong><\/p>\n

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.<\/p>\n

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Funding to strengthen our local efforts and draw on the R\u00e9seau\u2019s vast network of national expertise<\/strong><\/p>\n

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 R\u00e9seau 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.<\/p>\n

\u201cSADCs and CAEs make a real difference in our communities and our businesses, all across Quebec,\u201d said the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for CED. \u201cFor 29 years now, CED has been proud to be able to count on the R\u00e9seau 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\u2019s entrepreneurial ecosystem.\u201d<\/p>\n

Overall, these new agreements will enable SADCs and CAEs to carry out their missions close to home while drawing on the expertise of the R\u00e9seau\u2019s 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 Cr\u00e8merie du Potager in Rivi\u00e8re-du-Loup: \u201cI 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.\u201d<\/p>\n

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Some SADC and CAE impacts on Quebec\u2019s economy<\/strong><\/p>\n

Investing in SADCs and CAEs pays off! According to an Aviseo Conseil study, between 2019 and 2023, SADCs and CAEs increased Quebec\u2019s real GDP by $458\u00a0million. Of that total, $85\u00a0million came from our loan investments and $273\u00a0million was generated by the improved five-year survival rate of companies supported by SADCs and CAEs. A Statistics Canada study found that the five\u2011year survival rate for SADC and CAE clients was more than double that of other businesses.<\/p>\n

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About the R\u00e9seau des SADC et CAE<\/strong><\/p>\n

The R\u00e9seau des SADC et CAE is a network of 57 SADCs (soci\u00e9t\u00e9s d\u2019aide au d\u00e9veloppement des collectivit\u00e9s<\/em>) and 10 CAEs (centres d\u2019aide aux entreprises<\/em>) 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.\u00a0 www.sadc-cae.ca<\/a><\/p>\n

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Community Futures Program (CFP)<\/strong><\/p>\n

This Canada-wide program supports local economic development and strengthens communities\u2019 capacity to sustainably achieve their full potential. Its main objectives are:<\/p>\n