Empowering entrepreneurship and fueling local business growth in New Brunswick

Community Business Development Corporations supporting development of small businesses through tailored financing, mentorship, and training programs

February 21, 2025 · Fredericton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)

The Government of Canada is proud to support the growth and development of small- and medium-sized enterprises (SMEs) in rural, coastal, and remote areas of New Brunswick.

Today, the Honourable Gudie Hutchings,

Minister of Rural Economic Development and Minister responsible for ACOA, announced an investment totalling $3,007,434 through the Community Futures Program for 10 Community Business Development Corporations (CBDCs) in New Brunswick and the New Brunswick Association of CBDCs.

This funding will enable the CBDCs to offer essential financial assistance, specialized training, expert guidance, and customized local initiatives to the rural businesses, organizations, and communities they support.

For a full list of CBDCs receiving this funding, please refer to the backgrounder.

This investment is part of the $12.6 million allocated by the Government of Canada, through ACOA, to support the 41 CBDCs in Atlantic Canada under the Community Futures Program. With this contribution, the CBDCs in New Brunswick will continue to provide essential support to local businesses, including financing, training, and services tailored to the needs of local entrepreneurs.

Quotes

“Small businesses keep our rural communities strong. ACOA supports all the CBDCs in New Brunswick that are helping our local entrepreneurs to hire people and invest in their communities. Because that’s a win for everyone.”

- The Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency

“The contribution from ACOA to the CBDC New Brunswick network directly supports our rural economies, and has benefited small businesses greatly in their development, growth and expansion.”

- Scott Tidd, Executive Director, NB Association of CBDCs

Quick facts

• For 39 years, the Government of Canada’s Community Futures Program has supported economic development in mainly rural regions of Canada through a network of 267 Community Futures Development Corporations (CFDCs). In Atlantic Canada, CFDCs are known as Community Business Development Corporations (CBDCs).

• CBDCs are independent non-profit organizations that offer a wide range of programs and services to support community economic development and the growth of small businesses in Atlantic Canada. They employ local staff and are each led by a volunteer board of directors, representing the community.

• Since 1995, the Government of Canada, through ACOA, has invested over $265 million in CBDCs via the Community Futures Program. This funding has contributed to the creation of over 30,108 jobs, the maintenance of over 60,300 jobs, and support for 40,936 entrepreneurs in Atlantic Canada.

• Between 1995 and March 2024, CBDCs disbursed 41,105 loans valued at nearly $1.7 billion.

• To find your local CBDC or for more information on the services and support they offer, visit the CBDC website.