Community Business Development Corporations supporting development of small businesses through tailored financing, mentorship, and training programs
Friday, November 8, 2024 · Gander, Newfoundland and Labrador · Atlantic Canada Opportunities Agency (ACOA)
The Government of Canada is reaffirming its commitment to supporting the growth and development of small- and medium-sized enterprises (SMEs) in rural, coastal, and remote areas of Newfoundland and Labrador.
Today, Yvonne Jones, Parliamentary Secretary to the Minister of Northern Affairs and to the Minister of National Defence (Northern Defence) and Member of Parliament for Labrador, announced investments totalling $3,236,295 through the Community Futures Program for 15 CBDCs throughout Newfoundland and Labrador. The announcement was made on behalf of the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA.
This funding will enable these CBDCs to offer essential financial assistance, specialized training, expert guidance, and customized local initiatives to the rural businesses, organizations, and communities they support.
For a full list of CBDCs receiving this funding, please refer to the backgrounder.
This investment is part of the $12.6 million allocated by the Government of Canada to support the 41 CBDCs in Atlantic Canada under the Community Futures Program. With this contribution, the CBDCs in Newfoundland and Labrador will continue to provide essential support to local businesses, including financing, training, and services tailored to the needs of local entrepreneurs.
