CEED 2025 - 26 Impact Report

2025-26 IMPACT REPORT Supporting entrepreneurs through every stage of their journey — from first idea to sustained success.

2025-26

TABLE OF CONTENTS 01

Land Acknowledgement

02 Who We Are

03 Message from

04 Message from

07 2025 Impact

09 Voices from Our

the Board Chair

Snapshot

the CEO

Community

13

2025 Programs & Services at a Glance

14

Advancing Inclusive Entrepreneurship

15

Strengthening the Entrepreneurial Ecosystem

17

Looking Ahead to 2026

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LAND ACKNOWLEDGEMENT

Land Acknowledgement CEED acknowledges that we operate in Mi’kma’ki, the ancestral and unceded territory of the Mi’kmaq People, covered by the Treaties of Peace and Friendship. We recognize our shared responsibility as Treaty People and honour the Mi’kmaq Nation. We are committed to supporting inclusive entrepreneurship and building meaningful relationships with Indigenous communities across Nova Scotia.

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WHO WE ARE

CEED

(Centre

for

Entrepreneurship

Education

&

Development) is a trusted home base for entrepreneurs across Nova Scotia.

For nearly three decades, CEED has supported individuals to start, grow, and sustain businesses through education, advisory, financing, and community connections.

A vibrant and innovative Nova Scotia where all people are empowered to achieve their entrepreneurial potential.

We operate at the intersection of: Entrepreneurial learning Venture development Access to capital Ecosystem collaboration Our work is grounded in one belief: We don’t just build businesses. We build entrepreneurs.

CEED delivers innovative and solutions/supports that empowers and enables entrepreneurs to progress toward their full potential in a robust entrepreneurial community.

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MESSAGE FROM THE BOARD CHAIR Calla Farn

In 2025–26, CEED demonstrated the continued importance of entrepreneurship support rooted in trust, inclusion, accountability, and practical impact.

At a time when entrepreneurs are navigating complexity, uncertainty, and changing economic conditions, CEED remained anchored in its mission to be the trusted home base for entrepreneurs — providing hands-on support, practical advice, and the right connections that help them innovate, create, and scale through every stage of their journey. This work continues to be guided by CEED’s values of impact, innovation, community, accountability, and inclusivity.

This year also brought real funding and operating pressures, challenges that are being felt across the broader entrepreneurship support ecosystem. CEED’s response has been to look forward with discipline and optimism. Through the development of a new strategic plan, continued refinement of our programming, meaningful partnerships, the thoughtful use of AI, and the strategic deployment of staff expertise and talent, CEED is positioning itself to serve entrepreneurs with even greater focus and effectiveness.

Programs such as Levelling It Up reflect CEED’s commitment to inclusive economic development and to meeting entrepreneurs where they are in their journey. As we move ahead, the Board remains confident in CEED’s ability to adapt, lead, and deliver meaningful value to entrepreneurs, partners, funders, and communities.

On behalf of the Board, thank you to CEED’s staff, partners, funders, and the entrepreneurs who inspire this work every day.

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MESSAGE FROM THE CEO Craig MacMullin, FCPA, MBA PRESIDENT & CEO

Entrepreneurship is not just about starting businesses. It is about building possibility.

Every entrepreneur who works with CEED brings more than an idea. They bring ambition, courage, uncertainty, lived experience, and the belief that something better can be built.

Our role is to meet that ambition with practical

746

Entrepreneurs Assisted

support, trusted guidance, and a pathway forward.

In 2025–26, CEED did that work with focus and

momentum.

entrepreneurs

We

across

assisted our

746

programs,

welcomed more than 1,000 participants to events and workshops, distributed more than $360,000

in

character-based

loans,

954

Interventions delivered

through programming, advisory sessions, and expert strategy calls — excluding events

and

continued expanding our reach across Nova Scotia. We supported startups working toward first revenue, existing businesses seeking stability and growth, and innovation-driven enterprises building new models for the future.

30%

Returned for additional

support, demonstrating the lasting value and trust we've built within the ecosystem.

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The numbers tell one part of the story. The greater impact is found in the entrepreneur who gained the confidence to launch, the founder who finally understood their customer, and the business owner who made a stronger decision about cash, pricing, hiring, or growth. It is found in the woman entrepreneur who accessed support designed around her reality, the rural founder who connected with expertise without leaving their community, and the person who no longer felt alone in the work of building a business.

Inclusive entrepreneurship remains foundational to that future. In 2025–26, CEED continued to support women entrepreneurs, newcomers, Indigenous entrepreneurs, entrepreneurs with disabilities, 2SLGBTQ+ founders, rural entrepreneurs, and others who face barriers to traditional business supports. Inclusion is not an add-on to CEED’s work. It is part of how we design access, build trust, and expand economic opportunity.

That is CEED’s impact.

1090

Entreprenuers attended events and workshops ( Inperson & Online)

21%

Businesses Assisted Outside of HRM

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Supporting Entrepreneurs. Strengthening Communities.

Entrepreneurship is a powerful driver of economic resilience — but only when entrepreneurs have access to the right support at the right time.

At CEED, we work alongside entrepreneurs as trusted partners. We help them navigate uncertainty, build confidence, and make better business decisions — whether they are launching a first idea, stabilizing an existing business, or preparing for growth and innovation.

In 2025–26, CEED supported hundreds of entrepreneurs across Nova Scotia and beyond, strengthening businesses, expanding opportunity, and contributing to a more inclusive entrepreneurial economy.

This report highlights the impact of that work — not just what we delivered, but what changed because of it.

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IMPACT AT A GLANCE In 2025–26, CEED supported entrepreneurs at scale while maintaining a high‑touch, relationship‑based model.

In one year, we supported 746 entrepreneurs through 954 interventions—combining advisory sessions, expert strategy calls, and tailored programming.

21% of entrepreneurs supported outside Halifax Regional Municipality 674 startups assisted 72 established businesses assisted focused on stability, growth, or transition 138 innovation‑driven enterprises leveraging technology and advanced models $360,000+ in capital distributed

Startups Assisted — at various stages: exploring, validating, launching, and stabalizing

90.3% Established businesses assisted focused on stability, growth

9.7% Innovation‑driven enterprises leveraging technology and advanced models

18.5%

Inclusive entrepreneurship is embedded across CEED’s entire model

56% Were women-owned businesses or women entrepreneurs, independent of participation in the Leveling It Up program.

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WHY CEED’S WORK MATTERS Entrepreneurs face real challenges — limited access to capital, skills gaps, isolation, systemic barriers, and the pressure of making high‑stakes decisions with limited margin for error.

CEED reduces those barriers by offering:

“CEED helped me make decisions I had been avoiding for months. I finally felt supported and clear about my next steps.” - CEED | SME Incubator program participant

Accessible entry points Trusted, practical guidance Clear pathways through the entrepreneurial ecosystem Our impact is measured not only by participation, but by confidence gained, decisions improved, and businesses strengthened.

“CEED’s Before You Build is a catalyst for turning my concept into a functional reality, specifically the seamless transition into the technical development phase.” - CEED | Before You Build Program participant

“The CEED program has provided me with a framework to focus on the creation and direction of my business. With the help of the instructor, I have been pushing my boundaries and enjoying the steep learning curve. ” - CEED | Plan Validate Build program participant

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VOICES FROM OUR COMMUNITY “The biggest thing that I think helped me was being open to hearing feedback from CEED advisors that pushed me in directions that weren't what I was initially intending for my business. Jay (and Archie!) offers really great observations and questions from his experience in business. The customer discovery process was eye opening for me, as were the ways I was challenged during my business plan development. CEED’s goals are very much to see you be operating a financially solvent business. Just be willing to put in the work, focus on data driven decision making, and trust the Lean model and the feedback you get from CEED. I'm six months in and I can say that it really works.”

Ben Brezner Two Bridges Marketing (Bridgewater)

“From the moment that I met with CEED Team, I was blown away by their knowledge, collaboration, relatability, and professionalism. Throughout a variety of training modules and program deliverables, CEED advisor provided a consistent and trusted voice on my business. He grew to know me and my business both personally and professionally. There were many times throughout

Nicola Gillis Saffron + Salt (Halifax)

my journey that I doubted myself or my vision. He consistently asked the right questions and reminded me of the end towards which we were both working.

Although I am building an independent business, I have never felt alone thanks to CEED’s support, guidance, and collaboration. CEED is an invaluable member of my team and support network. Thanks for everything”.

Craig and his staff, along with the entire CEED organization, have been our biggest supporters and believers. Craig is an incredibly well-informed and up-to-date professional. I can go two years without speaking to him and somehow he knows what's going on in my company before I do.

Daniel Baldwin

MARS VR Lab

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VOICES FROM OUR COMMUNITY “ I now feel I have the capacity to move forward as an entrepreneur and to provide for my family in an area of slower economic growth. It opens up the world of possibilities with online business management as well as giving me a clear understanding of the local and global market. I gained the tools to scale my business with confidence. I feel opportunities like these are essential and a wonderful investment by prospective parties in assisting women entrepreneurs who carry many hats and execute endless roles. It provides fair and equitable paths

to

entering

and

successfully

executing

entrepreneurial

endeavours. Thanks again to Caroline Chu and the Leveling It Up Program—I have eliminated the barriers, gained the knowledge,

Rachel Stone Ilusik Labrador Expressions Inc.

skills, and courage to launch my entrepreneurial idea. I can now support the economic growth of my community and make a difference through the social impact of my vision”

“When I had my first idea in mind, I was really struggling to figure out what my MVP was going to be. I had no idea. And now it’s like a no-brainer. This process has made it much clearer what I should actually be building.”

Kelsie Brannon, Artist Woodland Adventurers Guild Halifax, NS

"CEED have done like such a great job pushing us out of your comfort zone. I had never heard of Customer Discovery before this. Did I feel ready to go out and interview customers? No. Did I do it anyways? Yes. Did I find a lot of really great information that I couldn't find on a website? Absolutely.

Kudos to you because this program is excellent. It does exactly what it has sought to do. It is so practical. I felt like I was flailing around and

Andrea MacLeod

didn't know where to be and what to do before this. This gave me

A+ Bookkeeping ( Port Morien, NS)

structure and support."

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VOICES FROM OUR COMMUNITY Working with CEED during the entrepreneurship program was one of the most valuable parts of the entire experience. Jay is incredibly easy to talk to, approachable, grounded, and genuinely invested - which made it easy to be honest about where I was struggling and where I wanted to grow.

He brings a wealth of real-world knowledge and experience as a

Bailey Vernon Churned (Dartmouth)

business owner, and his guidance always felt practical, thoughtful, and relevant.

What I appreciated most was his ability to meet me where I was. When I needed support, Jay showed up as a friend, listening, encouraging, and steady. And when he knew I was capable of more, he stepped into the role of mentor, challenging me to think bigger and act with more confidence. Jay kept me on track and held me accountable in a way that felt motivating rather than pressured. CEED’s process was incredibly valuable and truly helped propel me to take the chances I already knew I needed to take, but hadn’t yet fully committed to.

I’m very grateful for CEED’s guidance and would highly recommend them to anyone looking for an advisor who is both supportive and genuinely invested in your success.

I found working with CEED was really insightful and refreshing.

They were honest and direct when I needed it, and wasn’t afraid to push back on ideas I was holding onto so I could think about my business more realistically. They brought creative solutions and perspectives I wouldn’t have come up with on my own, due to their extensive experience, which made working with them especially valuable.

Brianna Courneya The Talent Hive (Halifax)

I wasn't sure what to expect with a Business Advisor- Jay was very knowledgeable, direct and supportive in what you needed to start your business. There is a lot of information coming at you and he is able to help you see the overall picture and give constructive and positive feedback throughout. It's been a pleasure working with Jay.

Amanda Searle Atlantic Resonance (Fall River)

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VOICES FROM OUR COMMUNITY “ Plan - Validate - Build covered material that I needed to know. Kim offers practical, expert teaching and advice she has started and operated businesses. Learning culture is positive, open, encourage sharing and questions. “ CEED | Plan Validate Build program Participant “The CEED team is supplying a much needed service to entrepreneurs and their facilitation of support is critical coupled by the approved financial assistance that was also critical to success” - CEED Advisory Participant

“CEED Staff is the asset of CEED. Being rainbow registered, accommodating my disabilities and making feel inspired, understood, I am treated like I really matter and the assitance and advice exceeds my wildest expectations and it will give me the confidence. The constructive critique and advice are always relevant as they listen and comprehend my plan, the potential and without crushing my soul by helping me improve if I missed the goal. All the staff go the extra mile and I am so so so fortunate for what this program is and the quality of all. This will ensure not only a smoother start up ,but prepare me to be in business untill retirement where I will be able to retire! My life has changed and I was encouraged every step of the way” - CEED Self Employement & Loan Client

“The CEED (Leveling It Up) programs and consults have been phenomenal. I always walk away with actionable steps to grow my business.

It has allowed me to niche down, understand how to get more leads, and ultimately earn more revenue.I refer women founders to the program any chance I get and have only heard excellent feedback. I appreciate that the facilitators are experts in their craft and actually doing the work they are teaching! I am so grateful for the opportunity to participate, and I hope more women founders continue to get access because this work is needed to amplify our voices!”

LIU participant

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WHAT SUPPORT LOOKED LIKE IN 2025–26 CEED delivered flexible, responsive support tailored to entrepreneur needs:

Programs & Services at a Glance: 954 interventions—combining advisory sessions, expert strategy calls, and tailored programming.

54 Incubator (Plan

→ Validate → Build)

participants across Mainstreet and Leveling It Up

504 30‑minute discovery consultations

102 Self-Employment Program orientations & 31 businesses started 85 Business Skills Development Fund engagements Business Support 504 Advisory services (finance, marketing, operations) 70+ events, workshops, learning sessions, and

30%

Engaged in multiple programs, demonstrating trust in CEED as a long‑term support partner.

partner‑led events Financing $360,000 distributed in Character-based loans ($5K–$50K) Launched Financial Readiness workshop In 2025–26, CEED expanded beyond HRM: Strong growth in Cape Breton

74 Events, workshops, learning sessions, and partner‑led events

Increased presence in Valley & East Hants Province-wide delivery through virtual programming AI Integration - CEED Biz Assist (AI support for entrepreneurs)

85 Business Skills Development Fund engagements

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ADVANCING INCLUSIVE ENTREPRENEURSHIP Inclusive entrepreneurship is not an add-on at CEED — it is foundational. In 2025–26, CEED served more than 500+ women entrepreneurs through core services alone, with Leveling It Up expanding that impact even further.

Leveling It Up: Turning Access into Action LIU participants included immigrant women, entrepreneurs with disabilities, Indigenous women, and 2SLGBTQ+ founders These outcomes reflect intentional design choices: Removing cost barriers Partnering with trusted community organizations Delivering programming that reflects lived realities, not assumptions

Women entrepreneurs were supported across Canada - LIU

350

Participants from Nova Scotia - Regional economic development

70%

Delivery partners engaged

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Leveling It Up (LIU) is designed for women entrepreneurs who are building businesses — and who face systemic barriers to traditional supports.

In 2025–26: 174 participants entered LIU with operating businesses 108 businesses were tech‑enabled or digitally supported 250 founders were based in Nova Scotia Immigrant Women: 111 (43.5%)

Total Course Enrollments Businesses were tech‑enabled or digitally supported Provinces/Territories Served

700 108 9

Indigenous Women (LIU): 11 Entrepreneurs with Disabilities: 49 2SLGBTQ+ Entrepreneurs: 26 Francophone Entrepreneurs: 7

Beyond program completion, LIU increasingly acts as a gateway into CEED’s broader ecosystem, supporting longer‑term engagement and growth.

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STRENGTHENING THE ENTREPRENEURIAL ECOSYSTEM CEED plays a critical role as a connector within Nova Scotia’s entrepreneurial ecosystem.

In 2025–26: 76 entrepreneurs were referred to external partners Key partners included CBDC, Futurpreneur, Invest and ACOA This work reflects CEED’s entrepreneur‑first philosophy: ensuring founders access the right support — even when it sits outside our organization.

What We’re Learning CEED’s work in 2025–26 reinforced several key insights: Entrepreneurs value trusted, human‑centred guidance over one‑size‑fits‑all solutions Early‑stage and underrepresented founders benefit most from low‑barrier entry points Pathway‑based engagement leads to stronger outcomes than isolated interventions Ecosystem coordination improves entrepreneur outcomes and reduces duplication These insights continue to shape how CEED evolves its programs and services.

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BUILDING THE SYSTEMS BEHIND THE IMPACT Behind every CEED program, workshop, and entrepreneur success story is our team working to make support more accessible, connected, and meaningful.

Over the past year, CEED has continued evolving toward a more integrated, pathway-based approach—recognizing that entrepreneurship is not linear and that support must meet people where they are, whether they’re exploring an idea, navigating uncertainty, or growing with confidence.

This shift pushed us to look beyond individual programs and focus on the systems, processes, data and experiences behind them. We worked together to create clearer pathways, strengthen how we measure impact, improve collaboration across the ecosystem, and thoughtfully explored, tested, and learned how AI can be adopted—not only to reduce administrative work, but to strengthen how we support entrepreneurs and deliver our programs.

While much of this happens behind the scenes, its impact is felt in stronger conversations, more consistent support, and better outcomes for the entrepreneurs and businesses we serve.

As CEED grows, our focus remains on building an organization that is efficient and innovative — but above all, deeply human. One that helps entrepreneurs feel supported, understood, and empowered to move forward with clarity, confidence, and momentum.

Priyanka Kakkar VICE PRESIDENT - OPERATIONS

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LOOKING AHEAD As we move into 2026–27 and beyond, CEED is making a deliberate shift: from delivering programs to building pathways; from isolated interventions to lifecycle support; from helping entrepreneurs at one moment in time to walking with them through the real arc of starting, stabilizing, growing, renewing, and transitioning a business.

Entrepreneurs do not move in straight lines. The founder validating a first customer, the owner managing cash flow, the growth-stage company facing operational complexity, and the retiring business owner preparing for succession all need different kinds of support.

CEED’s pathways model reflects that reality by connecting programs, advisory support, financing, ecosystem navigation, data, and practical tools around the actual stages of an entrepreneur’s journey.

This is bigger than program design. Nova Scotia needs more businesses that start stronger, survive longer, grow smarter, and

modernize

faster.

CEED’s

next

iteration is about becoming Nova Scotia’s trusted home base for entrepreneurs at every stage — clearer pathways, stronger advice,

better

data,

more

intentional

access to capital, deeper collaboration, and practical use of technology and AI, all while remaining deeply human in how we support entrepreneurs.

The next chapter for CEED is bold because it must be. Nova Scotia needs more entrepreneurs who are prepared, resilient, connected.

productive,

innovative,

and

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LOOKING AHEAD Our economy needs businesses that can start stronger, grow smarter, adapt faster, and transfer successfully. Our communities need entrepreneurship that is inclusive, practical, and rooted in real opportunity.

CEED is ready for that work.

I want to thank the entrepreneurs who trusted us with their ideas, challenges, and ambitions. I also want to thank our staff, advisors, instructors, funders, partners, and Board of Directors. Your commitment makes this impact possible.

The path to progress starts now. CEED is proud to walk it with Nova Scotia’s entrepreneurs.

Craig MacMullin, FCPA,MBA PRESIDENT & CEO

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THANK YOU The impact reflected in this report is made possible by a shared commitment to entrepreneurship.

CEED extends its sincere thanks to the entrepreneurs who trusted us with their ideas and businesses, and whose resilience and ambition shape our work every day.

We are grateful to our funders and partners for their continued support in expanding access to inclusive, practical entrepreneurship resources across Nova Scotia.

Thank you to our ecosystem collaborators, advisors, and instructors for walking alongside entrepreneurs and strengthening outcomes through shared expertise. We also acknowledge the leadership and guidance of the CEED Board of Directors and the dedication of the CEED team, whose work turns vision into impact.

Together, we are building a stronger, more inclusive entrepreneurial ecosystem.

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CONTACT US

Phone

902.421.2333

Email

info@ceed.ca

Website

www.ceed.ca

Address

159 Wyse Rd, Dartmouth, NS B3A 1M5