CBDC Kent: playing an important role in five key areas
CBDC Kent aims to strengthen local expertise with a view to generating wealth and allocating resources more effectively in Kent County. Our major decisions are facilitated by our Board members, all of whom are local business and community leaders.
Creating local jobs: In the past fiscal year, CBDC Kent helped to create and maintain 322jobs throughout the community. Support for small businesses is designed to stimulate development and diversify the local economy.
Maintaining rural populations: CBDC Kent is focused on projects put forward by young people since such initiatives help them to stay in the region. Nearly 50% of our loans are issued to young entrepreneurs or new companies More and more young people are taking over existing businesses in the region, alongside international investors.
Leveraging local resources: Community strength really comes to the fore when local entrepreneurs help one another. A prime example of this collaboration can be seen in the cranberry industry. CBDC Kent congratulates each and every stakeholder striving to find local solutions.
Fostering cooperation and solidarity: Efforts to develop the cooperative and community sectors are one of our greatest assets. Although CBDC Kent did not issue
any social enterprise loans in the past fiscal year, various complementary measures were implemented. In one special case, we covered all of the training costs incurred by a local company. In addition, funding for professional consulting was made available when the Daigle campground was restructured as a cooperative. Financial support is also being provided for consulting services for a proposed interpretation centre in the region.
Improving quality of life: CBDC Kent is supporting the 43rd edition of the Jeux de l'Acadie, which will be held in the new municipality of Grand-Bouctouche in 2024. Our staff had already volunteered for this event for some time before the fiscal yearend. They also serve on the Regional Service Commission’s Economic Development Committee and on the Board of the Bouctouche Cooperative on a volunteer basis. In addition, CBDC Kent promotes entrepreneurial, community and professional success by supporting two high school galas in the region. Other forms of sponsorship support are offered year-round.
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CBDC KENT ANNUAL REPORT 2023-24
For fiscal year 2023-2024, three lines of business took the attention in the CBDC Kent
$1 million Fisheries
Agriculture
Construction
$630,000 in approved loans
13 applications approved
Investment in the region
Requests processed
Applications received
Applications approved
Amount invested
Impact on businesses
New start-up
Existing businesses
Total
Impact
Jobs created
Jobs maintained
Total
Training
Number of sessions
Amount granted
Number of business counselling sessions
Number of clients
Applications
Value
Number
3
on employment
approved
of assistance
of clients
granted
Amount
sessions Self-Employment Benefit Consultant Advisory Services 90 232 322 27 37 64 74 66 $4,897,684 240 21 $26,146 38 $665,000 4 $37,948
CBDC KENT ANNUAL REPORT 2023-24
Photo credit: Pays de la Sagouine
Building strong entrepreneurial leverage in
the Kent region
Total value of assistance from the CBDC and financial leverage over the past five years
During fiscal year 2023-2024, the total amount of loans disbursed remains stable, while leverage increased by 31% compared with the previous year.
Number of applications approved for each CBDC loan product
Breakdown of amounts disbursed per loan product (in millions of dollars)
Youth and first-time entrepreneurs continue to play a major role in the number of projects submitted, with 48% of loans disbursed in these two categories
Totalvalueofassistance FinancialLeverage 00$ 20$ 40$ 60$ 80$ 100$ 120$ 2019-20 2020-21 2021-22 2022-23 2023-24 $3.2 $7.2 $3.3 $3.0 $3.4 $3.6 $4.9 $4.9 $4.7 0 5 10 15 20 25 30 35 34 18 14 0 0 $1.7 4
$ $ $ $ $ $ $ General Business Loan First-Time Entrepreneur Loan Youth Loan Social Enterprise Loan Innovation Loan General Business Loan First-Time Entrepreneur Loan Youth Loan 59% $2,889,246 294% $1,442,000 116% $566,438 CBDC KENT ANNUAL REPORT 2023-24
The number of businesses who received financial assistance over the past five years
In fiscal year 2023-2024, total disbursements remained stable, while the number of projects approved and disbursed increased by 10% compared with the previous year.
Jobs created and maintained in the community over the last five years
CBDC Kent remains a key player in maintaining and creating sustainable jobs in the community.
NewStart-Up ExistingBusinesses TotalBusinesses 0 10 20 30 40 50 60 70 2019-20 2020-21 2021-22 2022-23 2023-24 JobsCreated JobsMaintained 0 50 100 150 200 250 300 2019-20 2020-21 2021-22 2022-23 2023-24
30 40 70 31 19 50 22 27 49 26 32 58 27 37 64
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Job created 74 52 55 46 90 Jobs maintained 165 159 79 272 232 Total 239 211 134 318 322 CBDC KENT ANNUAL REPORT 2023-24
CBDC Programs and Services
Who We Are
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. There are 41 CBDC offices in Atlantic Canada dedicated to the development of small businesses and assisting entrepreneurs in accessing financing and other business training and resources.
What We Do
Our objective is to help build stronger communities in Atlantic Canada by stimulating private sector employment in our rural areas. CBDCs work throughout rural Atlantic Canda in the creation, expansion and modernization of small and medium sized businesses.
What We Offer Entrepreneurs
Tailored solutions for young entrepreneurs aged from 18 to 34 that are interested in starting, expanding or modernizing their business. Youth Loan
First-Time Entrepreneur Loan
Targeted financing for the first-time entrepreneurs starting or purchasing their first business
Designed to assist entrepreneurs when traditional avenues of financing are not available, for either creating, purchasing or succession planning. General Business Loan
Assist in the development of the knowledgebased economy, the adaptation and commercialization of technology Innovation Loan
Social Enterprise Loan
Tailored financing designed to assist social enterprises.
Self-Employment Benefit (SEB) Program
Provides financial and coaching support to new entrepreneurs during the planning and startup phase of their new business.
Business Counselling
Business counselling in the form of advice to new and established entrepreneurs.
Consultant Advisory Services
Available to small and medium-sized business, as well as non-for-profit organization, to access technical and financial assistance by engaging consultants to assist them in various topics.
Tailored trainings in specialized areas such as marketing development, bookkeeping, feasibility studies and business analysis Skills Training
*SEB is funded by the Government of Canada through the Canada-Provincial Governments Labor Market Agreements.
190 Irving Blvd., Bouctouche (NB) E4S 3L7 506.743.2422 www.cbdckent.ca CBDC Kent cbdcnb nb-cbdc