Empowering SMEs to drive sustainable economic growth
News release
Government of Canada support will help unite Canadian community and business leaders to strengthen local economies
November 22, 2024 · Moncton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
As part of Global Entrepreneurship Week, we celebrate the vital role small and medium-sized enterprises (SMEs) play in driving sustainable economic growth in Atlantic Canada. Representing 98% of all businesses in Canada, SMEs account for nearly half of private sector jobs and generate at least one third of the country’s economic output. They also drive local economies and strengthen community resilience. The Government of Canada is committed to supporting entrepreneurs in rural, remote and coastal areas by providing the resources and expertise they need to grow their businesses, create jobs and strengthen their communities.
To reinforce this commitment, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA, announced a $250,000 investment to support the 2025 Community Futures National Conference, to be held in St. John’s, Newfoundland and Labrador, from May 4 to 6, 2025.
This conference will bring together approximately 500 community leaders, business leaders and business development professionals from across Canada. It will provide a valuable platform for collaboration, sharing best practices, and addressing common challenges faced by rural and remote economies.
Today’s announcement highlights the Government of Canada’s commitment to fostering resilient local economies and supporting the growth of rural, remote and coastal communities across Canada. It reinforces the commitment to building a thriving economy in all regions of the country, ensuring that local businesses can overcome challenges, seize new opportunities, and contribute to a prosperous future.
Quotes
“Rural small businesses keep Atlantic Canada going. ACOA supports events like the Community Futures Conference so entrepreneurs can share ideas and keep creating good jobs.”
- The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA
Quick facts
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Global Entrepreneurship Week, held from November 18-24, 2024, is an annual celebration dedicated to innovators and entrepreneurs. It seeks to inspire and connect individuals, showcase opportunities, and highlight the transformative power of entrepreneurship in fostering innovation, driving economic growth, and strengthening communities worldwide.
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The Community Futures National Conference will be held in St. John’s, Newfoundland and Labrador, from May 4 to 6, 2025. This event, organized by Community Futures Network of Canada, aims to bring together hundreds of community leaders from across Canada, all dedicated to fostering stronger and more sustainable economies.
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Community Futures Network of Canada is a network of 267 non-profit organizations across Canada, dedicated to supporting small businesses in rural and remote communities. Each office provides essential services—including small business loans, tools, training, and events—for individuals looking to start, grow, franchise, or sell a business.
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For 39 years, the Government of Canada’s Community Futures program has been supporting economic development in primarily rural areas across Canada through Community Futures Organizations (CFO’s). In Atlantic Canada, the CFOs are called Community Business Development Corporations, or CBDCs.
Associated links
Contacts
Connor Burton
Press Secretary
Office of the Minister of Rural Economic Development and of the Atlantic Canada Opportunities Agency
Connor.Burton@acoa-apeca.gc.ca
Media Relations
Atlantic Canada Opportunities Agency
mediaroom-salledesmedias@acoa-apeca.gc.ca
Helen Michel
Program Assistant
Marketing and Communications
Atlantic Association of CBDCs
Helen.michel@cbdc.ca
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