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 supports business owners from under-represented groups and contributes to the Government’s efforts to increase the economic participation.

• Canada Economic Development for Quebec Regions is actively involved with under-represented groups.

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.

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.
• 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.
• 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. The budget for this initiative is $23.5 million and ended on March 31, 2023.
• Since November 2015, CED has assisted the following client groups:
  • $103.5 million for Indigenous projects;
  • $17.2 million for projects that promote the economic development of OLMCs;
  • $24.6 million under the BEP for projects spearheaded by entrepreneurs from Black communities.
  • $109.1 million for women entrepreneurship projects;

Project examples funded by CED:
* Economic Development Initiative – Official Languages (EDI): In 2020, CED awarded $980,000 in financial assistance to the Community Economic Development and Employability Corporation (CEDEC) to support the creation, over a three-year period, of an ecosystem conducive to diversification and economic development of OLMCs. The approach favours strengthening the collaboration of key economic players within the same region and coaching businesses. This assistance included $100,000 to implement targeted actions to support English-speaking OLMC businesses dealing with pandemic-related issues.
* Women Entrepreneurship: In 2021 and 2022, CED granted two contributions to Evol Financing, an organization specializing in financing and coaching diverse and inclusive businesses across Quebec. An initial non-repayable contribution of $4,475,800 enabled the organization to offer sustained, personalized support to businesses belonging to a diverse clientele, including women, and with a sustainable development component. Then, a second repayable contribution of $5,000,000 was paid into an impact financing envelope to support entrepreneurs from under-represented groups in the Quebec economy, through loans to facilitate their access to financing.
* Black Entrepreneurship Program (BEP): In 2021, CED granted a non-repayable financial assistance of $2,995,600 to the Fonds Afro-Entrepreneurs, over a period of four years, to offer entrepreneurs from Quebec's Black communities coaching services adapted to the stage of development of the business (start-up, growth, change of scale, structuring, etc.). The project will contribute to compensate for the
limited offer of services and the lack of adaptation to the reality and specificities of entrepreneurs from French-speaking Black communities in Canada.
* Regional Economic Growth through Innovation Program (REGI): In 2022, CED provided $100,000 in
repayable financial assistance to MINI TIPI to improve the company's production capacity and develop new markets. The Gatineau-based company, owned by two women, one of whom is a member of the Nipissing Nation, manufactures decorative items and personal accessories for the home and family. Its products, made from recycled fibres, highlight the heritage of Canada's diverse cultures and
Indigenous nations.

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 pays particular attention to projects from businesses or organizations contributing to achievement of this objective.