CBDC Kent - 2024-25 Annual Report

CBDC Kent: Empowering Entrepreneurs and Cultivating Community

CBDC KENT

ANNUAL REPORT 2024-25

CBDC Kent aims to strengthen local expertise with a focus on generating economic prosperity 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.

2

Creating Local Jobs: In the past fiscal year, CBDC Kent helped to create and maintain 247 jobs throughout the community. Support for small

Maintaining Rural Populations: CBDC Kent remains committed to supporting young and firsttime entrepreneurs to promote a thriving

businesses is designed to stimulate development and diversify the local economy.

community. Thirty-three per cent of our loans issued during the 2024-25 fiscal year were focused

Leveraging Local Resources: With our support, key industries like cranberry farming and

in these areas. Many of these transactions were centered around business succession, which continues to be a priority. These investments

aquaculture are collaborating within their respective industries by sharing costly equipment that is key to their operations. CBDC Kent is proud

support population growth and help strengthen and diversify the local economy.

to have had the highest participation in the Seafood

Fostering Cooperation and Solidarity: CBDC Kent,

Technology Adaptation Program in the province during the past fiscal year, helping the aquaculture industry to improve and strengthen their

in collaboration with the Kent Regional Service Commission, launched the Kent Entrepreneurial Gala to recognize local entrepreneurs for their hard

operations. A big thank you to Fisheries and Oceans Canada and the Department of Agriculture, Aquaculture and Fisheries for their support and

work and dedication to their businesses and the community. Staff members worked on various aspects of the event to ensure it was a success. We

investment in this program.

are also proud to have sponsored the Young Entrepreneur Award, presented to Ryan Leger,

Improving Quality of Life: The Jeux de l’Acadie were held in Grand-Bouctouche in 2024. A true community event supported by local businesses and volunteers, CBDC Kent ensured the organization and its staff were involved by offering each employee paid time off to volunteer.

Supporting the community continues to be a priority, with employees holding numerous volunteer positions including sitting on the Kent Regional Service Commission’s economic development committee and the board of the Bouctouche Cooperative. We also continued to sponsor numerous organizations, including galas at the two high schools in the region.

owner of Richibucto Home Hardware Building Centre. We also supported six community organizations, who would not have been able to borrow from a traditional lender, through the Social Enterprise Loan this year. These loans supported projects at a campground, grocery store, food bank, community centre, and helped purchase an ATV trail groomer. The Consultant Advisory Services program also aided the local golf course to complete strategic planning.

Key Business Sectors in 2024-2025 Fisheries: $1 million Agriculture and aquaculture: $728,000 in approved loans Construction: 12 loans disbursed

Investment in the region Training sessions

Applications received

66

Number of sessions

32

Applications approved

60

Number of participants

32

Amount invested

$3,984,607

Amount granted

$35,938

Amount approved

$3,865,594

New start-up

26

Existing businesses

34

Total

60

Impact on employment Jobs created

51

Jobs maintained

196

Total

247

Number of clients

272

Self-Employment Benefit (SEB) Applications approved

39

Value of assistance

$682,500

Consultant Advisory Services Number of clients

5

Amount granted

$53,014

ANNUAL REPORT 2024-25

Impact on businesses

Number of business counselling sessions

Photo credit: Pays de la Sagouine

CBDC KENT

Requests processed

3

Building strong entrepreneurial leverage in the Kent region Total value of assistance from the CBDC and financial leverage over the past five years Total value of assistance

Financial Leverage

$ 12 $

Despite a small decrease in CBDC contributions in

$ 10 $

2024–2025, the leverage effect stayed high at $4.3

$ 8$

million, showing continued financial

$ 6$

activity.

$7.2

$3.6

$4.3 $3.0

$ 4$

$ 2$

$ 0$

$3.3

$3.4

2020-21

2021-22

Number of applications approved for each CBDC loan product 30

$4.7

$4.9

$4.9

2022-23

2023-24

$4.0

2024-25

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

30

15.3% $610,700

3.9% $157,000

20.1% $801,548

25

ANNUAL REPORT 2024-25

20

15

11 10

6 5

CBDC KENT

0

4

13

60.6% $2,415,359

0 General Business Loan

First-Time Entrepreneur Loan

Youth Loan

Social Enterprise Loan

Innovation Loan

General Business Loan

First-Time Entrepreneur Loan

Youth Loan

Social Enterprise Loan

While youth and first-time entrepreneurs continue to represent an important number of projects submitted, there was a significant increase in loans approved to social enterprises.

The number of businesses who received financial assistance over the past five years New Start-Up

Existing Businesses

Total Businesses

70

64 60

50

50

49

40 30

60

58

37

34

32

31

27 22

19

20

27

26

26

10 0

2020-21

2021-22

2022-23

2023-24

2024-25

In 2024–2025, 60 businesses received financial assistance—slightly fewer than the previous year, but still above the five-year average.

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

Jobs Maintained

300

CBDC Kent continued to strengthen the local workforce in 2024–2025, helping to create 51 jobs and maintain 196 more across the region.

250 200

100 50 0

2020-21

2021-22

2022-23

2023-24

2024-25

Job created

52

55

46

90

51

Jobs maintained

159

79

272

232

196

Total

211

134

318

322

247

CBDC KENT

ANNUAL REPORT 2024-25

150

5

CBDC Programs and Services Who We Are

What We Do

CBDCs are not-for-profit organizations run by volunteers from the local business community who firmly believe in improving the economic viability of

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

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.

Canda in the creation, expansion and modernization of small and medium sized businesses.

What We Offer Entrepreneurs General Business Loan

Self-Employment Benefit (SEB)*

Designed to assist entrepreneurs when

Provides financial and coaching support to new

traditional avenues of financing are not available, for either creating, purchasing or

entrepreneurs during the planning and start-up phase of their new business.

succession planning.

First-Time Entrepreneur Loan Targeted financing for the first-time entrepreneurs starting or purchasing their first business.

Business Counselling Business counselling in the form of advice to new and established entrepreneurs.

Consultant Advisory Services

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

Innovation Loan Assist in the development of the knowledge-based economy, the adaptation and commercialization of technology.

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.

Social Enterprise Loan Tailored financing designed to assist social enterprises.

190 Irving Blvd., Bouctouche (NB) E4S 3L7 CBDC Kent

www.cbdckent.ca

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

506.743.2422 cbdcnb

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