Focus: The purpose of the Roundtable was to develop a shared vision for Atlantic Canada's economic future and to identify the steps required to get the region moving in this direction. The Roundtable consultation process delved into five specific sectoral areas: Technology, Access to Capital, Human Resources & Education, Trading Patterns, and Business Investment.

Partner: Atlantic Provinces Chamber of Commerce (APCC)

Location: Moncton, New Brunswick.

Date: December, 1996

Co-Chairs: Eric Ellsworth, Chairman of the APCC, and Martin Abrams of ACOA

Comments:

Mr. Ellsworth reminded the delegates that "Atlantic competitiveness and Atlantic economic cooperation are subjects of utmost importance to the APCC." Judging from the on-going "feed-back" the APCC receives from its members, "these are topics of vital importance to the region's business community as well", he stated.

Leaders in business, government, and academia from across Atlantic Canada were challenged to produce a set of recommendations which could be considered in any future economic development strategy for the region. These recommendations, it was suggested, should seek to build on the region's strengths, overcome its weaknesses or turn them into strengths, and include a clear understanding of the private sector's role and responsibilities for building a more competitive regional economy.

Issues Summary:

The roundtable consultation process delved into five specific sectoral areas:

• Technology: The participants expressed the belief that Atlantic Canada has not been very effective in transferring technologies out of the region's research facilities, especially universities.

• Access to Capital: Participants expressed the need for bankers to have a better understanding of SMEs, especially in knowledge-based sectors. There is a need as well for entrepreneurs/small business to learn how to source investment capital and understand the "security" issue. Entrepreneurs need to be better informed about sources of financing and the various options available.

• Human Resources and Education: Participants expressed concern regarding the perception of a serious disconnect between education/training and industry needs. They expressed the need to differentiate between skill-specific training and general education to ensure there is a suitable degree of adaptability in the general workforce.

• Trading Patterns: Enhancing Atlantic Canada overall competitiveness and sustainable export-base job growth will require improved export preparedness, greater diversity in products and services exported, and greater diversity in external markets served (especially by SMEs).

• Business Investment: Though small and medium-sized firms are important, the region must put some focus back on the importance of larger firms, members expressed. The lower cost of industrial land, as well as construction and labour costs, should be used more consistently in promoting the region as an ideal investment area.

• It was unanimously agreed that the road to world-class, competitive economy must start a shared-vison and a far more positive and progressive collective set of attitudes about this region and its prospects. It was felt that too many people in the rest of Canada do not believe in Atlantic Canada; that the region suffers from an impression of dependency on the rest of the nation. It is important, the participants believed, to break away from this dependency mind set.

• It was further suggested that Atlantic Canada has some excellent models to help guide the process. Moncton, as well as a number of other jurisdictions, were cited as examples of how a community can take charge of its destiny, overcome barriers such as linguistic and cultural differences, and succeed based on stakeholder collaboration. Atlantic Canada must and could do the same, was the general consensus. Participants were unanimous in their belief that the process must start with a shared vision and a "can do" attitude.