Community business development corporation

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Community Business Development Corporations (CBDCs) are not-for-profit organizations run by volunteers from the local business community who firmly believe in improving the economic viability of their region. Located throughout rural Atlantic Canada there are 41 CBDC offices dedicated to the development of small business and assisting entrepreneurs in accessing financing and other business training and resources.[1]

Jurisdiction[edit]

The CBDCs are dedicated to the development of small business and job creation and enhancement in rural Atlantic Canada. CBDCs are subject to Treasury Board of Canada regulations.

Purpose[edit]

As CBDCs, we assist in the creation of small businesses and in the expansion and modernization of existing businesses by providing financial and technical services to entrepreneurs.

  • Financial assistance is available in the form of loans, loan guarantees and equity financing to existing and aspiring entrepreneurs.
  • Business counselling & advice is available to small businesses. We help businesses to succeed and therefore we give high priority to the advisory role of our mandate.
  • Entrepreneurship development and training to individuals and small business owners/managers is available in many of our offices.
  • Technical assistance usually takes the form of guidance and coaching, and sometimes advocating on behalf of our clients to other lending establishments or regulatory agencies.

Typically, our services are targeted to entrepreneurs who require customized financing not normally available from traditional sources.

Where to find us? To find out more information about the many programs and services offered by the CBDCs of Atlantic Canada call or visit us online.

Succession Planning[edit]

Demographics of Atlantic Canada and many other regions of world are shifting to an older population with few births. This circumstance presents a challenge to plan for the future operation and ownership of business ventures. CBDCs are assisting with this challenge by providing a web based tool to help entrepreneurs to sell their venture, either to retire, change careers or move on to a new entrepreneurial challenge. CBDCs may also be able to help the buyer to secure financing to purchase a business (www.businessatlantic.ca).

Governance[edit]

CBDCs operate under the guidance of a local Board of Directors.[2] The Board of Directors is representative of the area served by the CBDC, and all members of the board are volunteers.[2] This organizational structure permits the CBDC to play a direct and active role in employment development within their jurisdiction. The Board of Directors is complemented by a professional staff, varying in size depending on the level of activity within the region served and resources made available to it by the Government of Canada. CBDCs act as a delivery agent for several governmental financing programs for small business. They have numerous options available to help individuals establish a new business, expand an existing one, or to stabilize/modernize their current business.

References[edit]

  1. ^ OECD SME and Entrepreneurship Outlook 2005 page 195 ISBN 9264009256
  2. ^ a b Co-operation, Organisation for Economic; Development, (2010). OECD territorial reviews. Paris: OECD. p. 146. ISBN 9789264081116. 

External links[edit]