Community Futures Program (CFP)

The federal government supports local economic development by promoting community enhancement and diversification through the national Community Futures Program (CFP), which is intended to encourage communities to take charge of their future.

Summary

In Quebec, Canada Economic Development manages the CFP through its main partners:

• 57 Community Futures Development Corporations (CFDCs) in designated rural areas;
• 9 Business Development Centres (BDCs) in near-urban areas; and
• 15 Community Economic Development Corporations (CEDCs) in disadvantaged urban areas.

Community Futures Development Corporations (CFDCs)

The CFDCs’ mandate is twofold: provide services for the community (co-operation, planning, events, awareness, local growth-generating initiatives) and services for businesses (access to funding, technical assistance, support for local and young entrepreneurs).

The CFDCs have several community development tools:

An investment fund

• Objective: to promote the creation, maintenance and development of sustainable jobs.
• Average assets: $2.1 million.
• Types of activities: start-up, expansion, equipment acquisition, business consolidation.
• Types of loans: conventional loans, capital loans and loan guarantees.
• Allowable assistance: maximum of $125 000 (average loan: $32 000).

Youth Strategy Initiative

• Mission: to slow down the exodus of young people to cities.
• Objective: to help young people acquire, expand, establish and upgrade businesses in their communities; promote youth employability and involvement in the community.
• Tool: investment fund for young people.
• Each CFDC has staff who provide coaching and follow-up.
• Amount of assistance: $5 000 to $15 000.
• Clientele: 18 to 35 years old.
• Assistance terms: interest-free for two years and mandatory follow-up and training.

Public Internet Access Centres (PIACs)

• Over 800 PIACs provide communities with access to new technologies and training.

Community Economic Development Corporations (CEDCs)

Canada Economic Development funds 15 CEDCs in Quebec. There are 11 in Montreal, one in the Outaouais, one in the Quebec City area, one in Sherbrooke and one in Trois Rivières (see below for a list of CEDCs and their details).

The CEDCs’ activities fall under three main categories:

Advisory services for individuals

• Provide training, follow-up and funding for small start-up businesses.
• Direct project developers to the proper local resources.
• Ensure unemployed individuals find sustainable employment by providing on-the-job training (assistance leading to employment).

Business services

• Advise and help private businesses, non-profit organizations, self-employed workers and work co-operatives with their initiatives (funding, localization, turnaround, marketing and labour training).
• Encourage networking between business, organizations and associations.
• Provide support and advisory services for the development of market and social economy businesses.

Local development/community services

• Organize information sessions on funds available for business consolidation and development and job creation.
• Provide support and advisory services for social community projects.
• Develop and support projects intended to improve access to employment in co-operation with community organizations.
• Provide groups with guided tours of the territory.

Business Development Centres (BDCs)

The BDCs take part in economic development by providing SMEs in the areas served with funding and advisory services to stimulate job creation and maintenance.

The BDCs’ activities fall under these main categories:

Funding

• Financial products are flexible and suited to the specific needs of the territory. The BDCs usually get involved with other traditional financial institutions in growth-generating projects and thus ensure the creation and maintenance of sustainable jobs.
• Funds are repayable and may take the form of conventional loans and/or specialized funding. The flexibility of repayment terms and timeframes enables the BDCs to establish partnerships with businesses.

Technical support for entrepreneurs

• Specialized professionals are available to entrepreneurs to respond to management needs and assess the financial aspects of small businesses.

Promotion of federal government programs and services

• The BDCs provide local business people with abundant information on the wide assortment of government programs and services for current and future entrepreneurs. The BDCs serve as the gateway to a comprehensive information network.

For more information regarding the CFDCs, visit the Réseau des SADC du Québec Web site. To view the list of CEDCs and BDCs, visit the Community Futures Program Web site.

Quebec Contact(s):
Abitibi - Témiscamingue
Canada Economic Development for Quebec Regions
906, 5e Avenue
Val D'or, Quebec  J9P 1B9
Telephone: (819) 825-5260
Fax: (819) 825-3245
Toll-free (information): 1-800-567-6451
E-mail: www@dec-ced.gc.ca
Web site: http://www.dec-ced.gc.ca/asp/APropos/bureauxaffaires.asp