Funding for Community Business Development Corporations helps entrepreneurs get the financing and know-how they need to expand, hire, and grow
In rural Atlantic Canada, small businesses play a vital role in local economies, especially during the holidays. They provide jobs, keep money close to home, and support the services that families rely on. Many of these businesses operate in places where there are no major employers or banks and few essential services. When one shuts down, the effects ripple through the entire community.
Today, the Honourable Sean Fraser, Minister of Justice and Attorney General of Canada and Minister responsible for the Atlantic Canada Opportunities Agency, announced continued investments of $12.6 million in Atlantic Canada's network of Community Business Development Corporations (CBDCs). This significant federal support gives rural entrepreneurs the financial boost and hands-on guidance they need to turn opportunity into real growth.
Across Atlantic Canada, CBDCs help entrepreneurs turn ideas into successful businesses through financing, training and on-the-ground support. In Nova Scotia, Avon Valley Floral rebuilt its greenhouse operations after significant ice storm damage and has since doubled its revenue with targeted CBDC financing. In New Brunswick, Marc Subs renovated its locations and expanded services across Northwestern New Brunswick with CBDC assistance. In Prince Edward Island, Ellsworth Enterprises strengthened its production capacity and regional reach as a lobster trap manufacturer with support from CBDC programs. In Newfoundland and Labrador, CakeyHand Dessert Factory grew from a farmers market table into a multi-location bakery with CBDC-backed investments that supported its expansion.
Today's investment will allow the region's CBDCs to continue providing the capital, expertise and local guidance entrepreneurs rely on to grow their businesses and strengthen rural economies. It is an investment in the people, businesses and communities that make rural Atlantic Canada strong.
