Community bonds, social enterprises and impact investing are gaining traction with Social Purpose Organizations (SPOs) as ways to achieve financial return while doing good.
Despite constrained resources, community finance organizations shaping future of rural, northern Canada
Northern and rural Canada face unique economic challenges, and while the community finance landscape in these regions is limited, community needs are high. Here are three intermediaries finding creative ways to fund ventures and grow local ecosystems.
Community finance organizations face the same ROI pressures as traditional venture capital firms — but unlike VC firms, they also face the same pressures as charities to stay afloat despite limited operational funding. Here’s how community finance organizations can overcome these challenges and scale sustainably.
Taking the long view, EntrepreNorth supports Northern Indigenous entrepreneurs to create transformative change
In convening partners to launch a Northern impact fund, EntrepreNorth brings a decolonization lens to financial equity and impact capital in the North.
One of the main ways Canadians start businesses and build wealth is by leveraging their homes. However, Indigenous home ownership is close to zero, creating huge systemic barriers to economic development — barriers that can be broken down by decolonizing financial structures.
The COVID-19 pandemic placed Black entrepreneurs under significant financial strain. To address this issue, Prime Minister Justin Trudeau announced in September 2020 that up to $221 million would be invested in the Black Entrepreneurship Program through partnerships with financial institutions.
Impact investing changes the dynamic and better reflects our values in how we invest our savings.