NEW FINANCIAL CONTRIBUTION TO SUPPORT FEMALE AND INDIGENOUS ENTREPRENEURS

LAC-BEAUPORT (QUEBEC), June 15, 2018 – The Réseau des SADC et CAE is overjoyed to hear of the addition of a $1,360,000 financial contribution to the Réseau’s Small Business Support Initiative (SAPE), as announced by Rémi Massé, Liberal Member of Parliament for the riding of Avignon–La Mitis–Matane–Matapédia and Chair of the Liberal Party of Canada’s Quebec Caucus on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development. The contribution will target the growth of women- and Indigenous-owned businesses.

Daniel Dumas, President of the Réseau, explained that “this contribution is the result of a collaboration with Canada Economic Development and representatives of the Honourable Navdeep Bains, as well as the standout achievements of SAPE over the last two years. It will enable the SADC et CAE to provide coaching and specialized expertise to a greater number of female and Indigenous entrepreneurs.”

According to Massé, “The SADC et CAE are essential partners for regional economic development. I have worked alongside the SADC et CAE for several years, and I can attest to the helping hand they provide to local entrepreneurs and SMEs. The new pilot project to support women- and Indigenous-owned businesses will make a real difference in our communities. I salute the continued efforts of organizations working to make our regions prosperous.”

This contribution is in addition to the $4.5 million financial commitment to the Small Business Support Initiative that was announced in 2016. Thanks to the additional funds, the SADC et CAE plan to coach more than 130 women- and Indigenous-owned businesses in the next year.

A sustained effort to support women- and Indigenous-owned businesses

These groups have always been a priority for the SADC et CAE, and our professionals understand the challenges they face. They support women- and Indigenous-owned businesses not only with financing and personalized coaching, but also through entrepreneurship awareness programs, networking events and business management training. In recent years, more than 1,000 programs targeting female and Indigenous entrepreneurs have been implemented by the SADC et CAE in Quebec.

SMALL BUSINESS SUPPORT INITIATIVE, THE TOOL OF CHOICE

After only two years, the Small Business Support Initiative has achieved impressive results among SMEs. The SADC et CAE supported 801 SMEs, enabling them to implement strategies to tackle major economic challenges facing their businesses: innovation, integration of communications technologies and e-commerce, sustainable development, and business succession and transfer. These projects enabled the creation of 1,011 jobs and the maintenance of 7,851 jobs in rural areas.

For more details about the terms and conditions of the Small Business Support Initiative, entrepreneurs should contact their region’s SADC/CAE.
To find your SADC/CAE, visit: www.sadc-cae.ca.

ABOUT THE RÉSEAU DES SADC ET CAE
The Réseau des SADC et CAE is a network of 57 Community Futures Development Corporations (SADC) and 10 Community Business Development Corporations (CAE) that have been working in community economic development for more than 35 years. More than 1,400 professionals and volunteers support and finance more than 10,000 entrepreneurs and 1,000 local economic development projects every year.

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