CBDC Chaleur - Annual Report 2022-23

The Impact of CBDC Chaleur: Five Facts to Share

CBDC Chaleur builds local expertise to develop more wealth in the community and to ensure better resource allocation. Its major decisions are facilitated by the volunteer work of its Board of Directors, whose members are business and community leaders.

Creating Local Jobs: In the past fiscal year, CBDC Chaleur helped to create and maintain 288 jobs in the community. Supporting small businesses serves to stimulate the local economy through the creation of high-quality jobs that meet the needs of the Chaleur region; this also helps to reduce local dependency on large corporations.

Maintaining Rural Populations: CBDC Chaleur has noted a marked increase in newcomers to the region submitting loan applications This new dynamic is also reflected in a higher degree of confidence in the local economy. More than ever, CBDC Chaleur is receiving requests for information on growth projects and is engaged in discussions to generate ideas for new projects and business succession

Leveraging Local Resources: The Hive Chaleur, a business accelerator for immigrants, signed an agreement to set up operations in CBDC Chaleur’s office space. Leveraging existing local resources demonstrates that the Chaleur region is open

to the world while embracing innovative ideas. The CBDC helps to eliminate obstacles and facilitates home-grown initiatives.

Fostering Cooperation and Solidarity: CBDC Chaleur’s impact is also measured by funding requests from non-profit organizations. NPOs are often run exclusively by volunteers in a wide range of areas, including tourism, culture and entertainment. Support may take the form of loans or funding for consultant advisory services.

Improving Living Standards: The CBDC exerts a positive influence on organizations that have a direct impact on the region’s financial well-being and economic ecosystem. In the past fiscal year, CBDC Chaleur maintained a presence on the Boards of Bathurst Airport, the Business Improvement District and the Chaleur Regional Hospital Foundation, as well as on theDowntown Bathurst Committee, a local initiative supported by the City of Bathurst to improve all aspects of community life, including infrastructure, housing, etc.

From Left to right: Steven Meunier, Project Analyst, Monique Gallant, Project Agent, Pascal Frenette, Director of Internal Operations, Denis Roy, Executive Director, Sylvie Cowan Larocque, Administration Support and Accounting, Ryan Elhatton, CreditManager,andMaryseCormier,AdministrativeAssistant

For fiscal year 2022-2023, three lines of business took the attention of CBDC Chaleur Services – $1.7 million Retail – $1.3 million

Fisheries – $905,000

Investment in the region for the year 2022-2023

Building

strong entrepreneurial leverage in the Chaleur region

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

The 2022-2023 fiscal year is another record year for regular loan programs with a 56% increase in amounts disbursed compared to the previous year.

Number of applications received and approved for each CBDC loan product

Breakdown of amounts disbursed per loan product (in millions of dollars)

Although the number of loans approved is higher than the previous year (increase of 17.5%), the focus is on the average size of loans which is larger with an increase of 5% compared to the previous year.

The number of businesses who received financial assistance over the past five years

A 50% increase in loans disbursed for the 2022-2023 fiscal year compared to the previous year.

Jobs created and maintained in the community over the last five years

Over the past three years, the impact of regular loan programs on employment has been growing, with a 35% increase in jobs created and maintained for the 2022-2023 fiscal year compared to the previous fiscal year

Message from the President

As President of CBDC Chaleur, I am pleased to welcome you to our 36th annual general meeting. Since I took up my position six years ago, we have watched CBDC Chaleur’s track record of success grow. We are now positioned as one of the region’s economic development actors of choice. I am delighted to share with you the highlights of the past year, which was filled with new challenges in the wake of the COVID-19 pandemic In 2022-2023, things basically returned to normal

In 2022-2023, CBDC Chaleur provided assistance to 214 small and medium-sized enterprises (SMEs) around the region, divided up as follows:

67 loans were granted to SMEs, for a total of $5 million in disbursements.

22 participants were approved under the Self-Employment Benefit program

39 individuals benefited from a variety of free training provided by external consultants.

$74,918 was invested in training programs for our entrepreneur clients.

122 business consulting sessions were held with new potential clients while 276 initiatives were carried out with existing clients.

Thanks to the services and programs delivered by CBDC Chaleur, our clients created and maintained over 288 jobs over the past year. Now more than ever, with 251 active clients in our roster, we are playing a central role in the Chaleur region’s economic development. We take pride in that fact.

I would like to acknowledge the support of all the financial partners who believed in us Their support is greatly appreciated

As President of CBDC Chaleur and on behalf of the entire Board, I would like to thank Denis Roy and all the members of his team for the leadership and perseverance they demonstrated over the past year.

Marc Losier, President

Message from the Executive Director

I am pleased to welcome you to CBDC Chaleur’s 36th annual general meeting. After two years marked by uncertainty, 2022-2023 was a period of growth for CBDC Chaleur. To be sure, some clients suffered more than others in the aftermath of COVID-19, but many entrepreneurs used the past year to implement business and diversification projects.

CBDC Chaleur recorded a profit of $604,495 in the past year As at March 31, 2023, our loan portfolio stood at $12 7 million, with total net assets of over $9 2 million

In my view, our most noteworthy achievement is as follows. Combining our loan disbursements over the past year ($5 million) with other partner-derived funding used to complete our project cost programs ($7.3 million), CBDC Chaleur helped to invest $12 3 million in the region in 20222023 This investment consists of funds that were 100% spent locally We are proud to contribute to the Chaleur region’s economic growth and development.

All that work would be impossible without the support of our financial partners. I would like to thank the Atlantic Canada Opportunities Agency and the Government of New Brunswick for their ongoing support Thank you for placing your trust in us over the past year

I would also like to thank the members of CBDC Chaleur’s Board. Thanks to their unswerving support, dedication, time and vision, CBDC Chaleur continues to build on its momentum as we strive to make our region an even better place to do business.

In closing, I would like to thank my team members for their leadership, hard work and compassion towards our clients. Without their dedication and commitment, CBDC Chaleur would not be able to achieve these results year after year.

Denis Roy, Executive Director

Chaleur my Home, my Future!

May 6 and 7, 2022, the edition of Chaleur my e, my Future! took place. en(11) participants took in this repatriation and ntion activity that takes e annually every Spring. e the beginning, a total of post-secondary students taken part in this tive, of which 150 cipants have returned or ained in the Chaleur on, representing a ess rate of 51%

2022 Young Entrepreneur of the Year Award

The Board of Directors and the staff of CBDC Chaleur would like to congratulate Mr. Denis Cormier of Denco Electrique Inc from Petit-Rocher-Sud for winning the 2022 Young Entrepreneur of the Year Award.

In operation since Septembe 2020, this company, which employs three full-time employees and one part-time employee, specializes in residential and commercia electrical maintenance and installation services in the Chaleur region.

The participants of the 17 edition.

Denis Cormier, owner of Denco Electrique Inc.

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 mesium sized businesses.

What We Offer Entrepreneurs

Youth Loan

Tailored solutions for young entrepreneurs aged from 18 to 34 that are interested in starting, expanding or modernizing their business.

First-Time Entrepreneur Loan

Targeted financing for the first-time entrepreneurs starting or purchasing their first business.

General Business Loan

Designed to assist entrepreneurs when traditional avenues of financing are not available, for either creating, purchasing or succession planning.

Innovation Loan

Assist in the development of the knowledgebased economy, the adaptation and commercialization of technology.

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 start-up phase of their new business

Business Counselling

Business counselling in the form of advice to new and established entrepreneur

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.

Skills Training

Tailored trainings in specialized areas such as marketing development, bookkeeping, feasibility studies and business analysis

*Please note: Programs and services delivered by CBDCs may vary by region.

*SEB is funded by the Government of Canada through the Canada-Provincial Governments Labor Market Agreements.