Question Period Note: CED support for inclusive growth

CED support for inclusive growth

• Canada Economic Development for Quebec Regions is investing to build a more prosperous and inclusive economy.
• Canada Economic Development for Quebec Regions contributes to the Government’s efforts to increase the economic participation of under-represented groups by supporting business owners from cultural communities and minority groups.
• Canada Economic Development for Quebec Regions is actively involved with groups that have been disproportionately affected by the pandemic, such as women, Indigenous peoples and members of cultural communities.
• CED promotes the participation of Indigenous peoples in economic growth in Quebec by supporting projects from Indigenous-owned NPOs and SMEs and has introduced more flexible intervention parameters that reflect their economic reality.

Having had a disproportionate impact on certain groups and having exacerbated income disparities, the pandemic has highlighted the need for more inclusive growth.

CED helps under-represented groups participate in the transition to a cleaner, more sustainable economy, and prioritizes projects by businesses or organizations that contribute to this objective. This includes both projects submitted under its regular programs and those covered under targeted initiatives such as the Women Entrepreneurship Strategy (WES), the Economic Development Initiative – Official Languages (EDI) and the Black Entrepreneurship Program (BEP).

CED promotes the participation of Indigenous peoples in economic growth in Quebec by supporting projects from Indigenous-owned NPOs and SMEs. To facilitate access to its programs, CED has introduced more flexible intervention parameters (e.g., advantageous assistance rates) and priorities that reflect the economic reality of Indigenous peoples. In addition to its regular programs and the above-mentioned special initiatives, CED has reached out to this client group through the Regional Relief and Recovery Fund (RRRF), the Canadian Seafood Stabilization Fund (CSSF) and the Regional Air Transportation Initiative (RATI).

CED is responsible for implementing the Women Entrepreneurship Strategy (WES) in Quebec, a national initiative to help women entrepreneurs overcome barriers to the growth of their businesses. This initiative has a budget of $23.5 million.

CED is responsible for implementing the Economic Development Initiative – Official Languages (EDI) in Quebec, a national program that supports official language minority communities (OLMCs). For CED’s purposes, the program targets English-speaking communities. This initiative has an annual budget of $1.8 million.

CED is responsible for implementing the Black Entrepreneurship Program (BEP) in Quebec, the goal of which is to encourage Black business owners and entrepreneurs in Canada to participate in the economy of their region by helping them grow their businesses. This funding program has a budget of $24.6 million for Quebec. The planned end date of the initiative is March 31, 2025.

Since November 2015, CED has assisted the following client groups:

• $69.3 million for Indigenous projects;
• $95.7 million for women entrepreneurship projects;
• $12.9 million for projects that promote the economic development of official language minority communities (OLMCs);
• $24.6 million under the Black Entrepreneurship Program (BEP) for projects spearheaded by entrepreneurs from Black communities.

Examples of projects funded by CED:

• Economic Development Initiative – Official Languages and Indigenous project: In 2020, under the Regional Economic Growth through Innovation (REGI), CED awarded a non-repayable contribution of $500,00 to the First Nations of Quebec and Labrador Economic Development Commission (FNQLEDC). This assistance is intended to continue offering entrepreneurship services in Quebec's First Nations communities in order to support the creation and development of businesses, stimulate the entrepreneurial culture in Indigenous communities and support community economic development officers.
• Women Entrepreneurship Strategy (WES): In 2019, CED provided Evol (Femmessor) with $5,735,823 in funding for the implementation, over a three-year period, of a project aimed at increasing the number and fostering the growth of businesses led and owned, in whole or in part, by women entrepreneurs. CED increased its support by $1,250,000 so that Evol could adapt its activities to better respond to the urgent and growing demand from women entrepreneurs facing the economic challenges of a pandemic context.
• Black Entrepreneurship Program (BEP): CED funds the Fonds Afro-Entrepreneurs in order to provide entrepreneurs from Black communities in Quebec with support services tailored to their business’s specific phase of development (start-up, growth, upscaling, structuring, etc.). The $2,995,600 non repayable contribution approved in 2021 covers a four-year period.

Canada Economic Development for Quebec Regions (CED) helps under-represented groups participate fully in the economy to make it more inclusive. To this end, CED prioritizes projects from businesses or organizations that contribute to this objective through its regular programs and targeted initiatives. Some groups have been disproportionately affected by the pandemic, such as women, Indigenous peoples and members of Black communities.