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Atlantic Micro-Credit Socio-Economic Impact Study
December 12, 2002
Roger Wehrell, PhD, St. Francis Xavier University
The purpose of this study was to measure the collective impact of the four largest and longest lasting micro-enterprise development programs offering credit in Atlantic Canada, namely:
- Calmeadow Nova Scotia (known as PARD before 1995)
- Newfoundland and Labrador Federation of Co-operatives Micro-Business Lending Service (a portfolio of 9 micro-credit programs in 9 different locales)
- ACOA Seed Connexion Program
- Canadian Youth Business Foundation.
The study surveyed 264 current and former participants in the four programs, interviewed program staff, and reviewed program documentation.
The study concluded that, collectively, the four programs had economic and developmental benefits for the participants, their enterprises and their local communities. The diversity of approaches and methods among the four programs was found to be effective in meeting a diverse set of support needs among micro-entrepreneurs in Atlantic Canada.
The study further concluded that micro-enterprise development programs centred around micro-credit are effective tools for generating and supporting very small businesses in Atlantic Canada and for community economic development. However, it recommended building regular assessment into the design and the resources of these programs instead of waiting for them to cease operations before seeking to discover how effective they had been.
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