CBDC Péninsule acadienne - Annual Report 2023-23

CBDC Péninsule acadienne: playing an important role in five key areas

CBDC Péninsule acadienne seeks to strengthen local expertise with a view to creating wealth and distributing resources more effectively across the region. Our major decisions are facilitated by the volunteer efforts of our Board members, all of whom are local business and community leaders.

Creating local jobs: CBDC Péninsule acadienne helped to create and maintain 263 jobs within the community in the past year Support for small businesses stimulates local development and diversifies the economy.

Maintaining rural populations: In the past year, we supported the activities of the Réseau des Jeunes en Affaires de la Péninsule acadienne (RJAPA), geared towards young entrepreneurs. After-work get-togethers promoting entrepreneurship are another good way to attract local young people. The Peninsula’s four chambers of commerce are all involved in initiatives (including the traditional business golf tournament “Golfons en affaires”) designed to encourage the next generation of leaders. See page 7 for information on the Junior Entrepreneur award presented at the gala banquet during 2023 SME Week

Leveraging local resources: The Rendez-vous Acadie-Québec, which was held in the Peninsula for the first time, is a prime example of cooperation between organizations dedicated to regional economic development. Although this event took place in May 2024, all the preparatory work was completed during the past fiscal year. We are a proud partner of this major initiative, which was locally

organized by Conseil économique du NouveauBrunswick (CENB) and the Fédération des chambres de commerce du Québec (FCCQ)

Fostering cooperation and solidarity: CBDC Péninsule acadienne also approved and disbursed an array of social enterprise loans. Now more than ever, the strength of communities across the Peninsula depends on the involvement of robust non-profit organizations, particularly in the wake of new challenges such as inflation. We supported a sports club and a project involving the local haskap berry industry, as well as a leading community organization that assists people with intellectual disabilities.

Improving quality of life: CBDC Péninsule acadienne plays an active role with the labour market partnership forum organized by the local Regional Service Commission. We also serve on the community workforce development committee, alongside the Port of Belledune, tasked with exploring regional opportunities and challenges associated with green energy. Our volunteer participation in these activities attests to the fact that our staff and Board are engaged in long-term planning with a view to enhancing regional decision-making.

From left to right: Anne Jean, Secretary-Receptionist, Joanne Breau, SEB Coordinator, Frédérick McGraw, Executive Director, Annette Landry, Administrative Assistant, Eric Robichaud, Business Account Manager, and Annie-Claude Dugas, Development Officer.

Message from the President Message from the Executive Director

As President of CBDC Péninsule acadienne, I would like to take this opportunity to share my annual message with you. Our organization has experienced amazing growth over the years, not only in terms of the number of programs and services it delivers, but also in its role as a key driver of regional economic development.

CBDC Péninsule acadienne is proud to guide local entrepreneurs and to meet their needs, whether they are starting up, acquiring, expanding or maintaining a business We are always here to provide financial and technical assistance, and we take pride in doing so. Our organization clearly has deep roots and plays an important role in our community

I would also like to take this opportunity to pay tribute to our staff’s daily efforts to make client service our No 1 priority With our partners’ assistance, they help to make our clients’ dreams and projects a reality. In addition to being the public face of our organization, our employees embody our vision and mission quite admirably Their achievements are made possible by the leadership of the Executive Director, Frédérick McGraw, who always encourages them to reach new heights of greatness.

I would like to thank our volunteer Board members for their dedication and commitment to CBDC Péninsule acadienne. Your expertise and contributions are essential to our success. And I cannot fail to mention two Board members who will be leaving after completing their respective nine-year mandates: Jean-Marie Robichaud, as well as Bruno Holmes, who served as President from 2019 to 2022 Through your faithful service, you have shown how important regional economic development is to you, and we will always be grateful.

Over the past year, we lost a much-loved member of our Board, Carole McGrath, owner of the Hôpital vétérinaire de Shippagan. We were immensely saddened by Carole’s passing, which shocked the entire community Her contributions will be felt for years to come, and she will remain forever in our hearts.

In closing, I would like to thank our clients for placing their trust in us: our main goal is to offer the finest programs and services. Please know that CBDC Péninsule acadienne will continue to play a pivotal role in our region’s economic development Thanks to our solid foundations, we will be here to serve you for the foreseeable future. May each passing year be as remarkable as 2023-2024!

Jacques Chiasson, President

I am very pleased to present our annual report, which provides an effective summary of CBDC Péninsule acadienne’s activities and achievements over the past year. We continue to have a major impact on local economic development. We are also very fortunate to have such a wide diversity of businesses in the region and so many entrepreneurs striving to succeed. This has given us a huge dose of motivation, as shown by our record-breaking performance: $4.9 million in commercial loans disbursed in the past 12 months.

Over the past year, we provided 22 entrepreneurs with business start-up assistance through the SelfEmployment Benefit (SEB) Program We also offered training and consulting services under various programs, all of which exceeded expectations Factoring in professional fees, specialized advisory services and cutting-edge management training, this represents a total investment of $240,054 in local entrepreneurs. In time, the companies they run will all have better management tools aimed at increasing their profitability and business longevity.

Thanks to various initiatives, we remain very involved in the community and take pride in our ongoing role in organizing activities for the Réseau des jeunes en affaires (RJAPA), a network of young entrepreneurs We organized our annual awards banquet honouring the Junior and Woman Entrepreneurs of the Year, as well as our annual golf tournament, which drew over 130 participants Our annual collection drive provided an opportunity to donate to local food banks. I am very pleased to note that these initiatives give the business sector and community organizations a much-needed boost

I would also like to thank our wonderful CBDC team for their dedication to our clients Thanks to their hard work, we are able to help the largest possible number of local companies, which is quite remarkable. Thank you as well to the members of our Board and our President, Jacques Chiasson: your voluntary contributions are the key to ensuring the good governance of our organization, and your wide-ranging knowledge and expertise are an invaluable asset

I am very grateful to our financial partners, including the Atlantic Canada Opportunities Agency (ACOA), Working NB, the Provincial and Atlantic CBDC associations, all levels of government, various financial institutions and all our other partners and collaborators. You all play an essential role.

In closing, I wish the greatest success to all the Acadian Peninsula’s entrepreneurs and SMEs, particularly our clients Thank you for your trust and keep up the good work in making our beautiful region such a dynamic place.

Frédérick McGraw, Executive Director

Board of Directors

Réseau des jeunes en affaires de la Péninsule acadienne (RJAPA)

The RJAPA makes it possible to create a calendar of events, which aims to introducing businesses owned by young entrepreneurs from the Péninsule acadienne and to have them participate in activities where they can discuss their challenges and various topics of interests. The events are open to the general population. Created by the CBDC Péninsule acadienne in partnership with the region's chambers of commerce, Phénomène and the RDÉE, the RJAPA has been organizing business activities since 2005, such as an annual golf tournament, happy hours, breakfast-talks, in addition to a Young Entrepreneur and Woman Entrepreneur of the Year Award banquet.

From left to right, Frédérick McGraw, Executive Director of the CBDC Péninsule acadienne, the winner Cindy Ross (Young Entrepreneur Award) and Jean-Eudes Duguay, Vice-president of the CBDC Péninsule acadienne

From left to right, Frédérick McGraw, Executive Director of the CBDC Péninsule acadienne, the winner Lise Thériault (Woman Entrepreneur Award) and Jean-Eudes Duguay, Vice-president of the CBDC Péninsule acadienne.

Bruno Holmes, Director

Nathalie Basque, Director Patrick Noël, Director

Isabelle Paulin, Director

Martin Noël, Director

Louise Robichaud, Director Jacinthe Paulin, Director

Jacques Chiasson, President Jean-Eudes Duguay, Vice-President Jean-Marie Robichaud, Treasurer Paulette Robert, Secretary

Monik Noël, Director

For fiscal year 2023-2024, three business sectors took the attention in the CBDC Péninsule acadienne region Services Agriculture

Nursing homes

Investment in the region

Requests processed

Applications received

Applications approved

Amount invested

Impact on businesses

New start-up

Existing businesses

Total

Impact on employment

Jobs created

Jobs maintained

Total

Training sessions

Number of sessions

Amount granted

Number of business counselling sessions

Number of clients

Self-Employment Benefit

Applications approved

Value of assistance

Consultant Advisory Services

Number of clients

Amount granted

Photo credit: Mathieu Dupuis

Building strong entrepreneurial leverage in the Peninsule acadienne region

Total value of assistance from CBDC Péninsule acadienne and financial leverage over the past five years

fiscal 2023-2024,

Number of applications approved for each CBDC loan product Breakdown of amounts disbursed per loan product (in millions of dollars)

Number of businesses who received financial assistance over the past five years

With a record year for amounts disbursed over the last 5 years, the slight decrease in the number of loans disbursed (-14.3%) reveals an interest in larger loan sizes.

Thanks to the loan programs, the number of jobs created and maintained increased by 23% in fiscal 2023-2024 compared with the previous year.

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 Offer

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.

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.

Entrepreneurs

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.