In communities with different standards, access to employment and education, itโs important to have programs that are hands-on, culturally relevant and flexible to better equip people for training and entrepreneurship.
Rising real estate costs are making it more difficult for agencies in the Greater Toronto Area to hang onto space for program and service delivery. A new funding strategy promises to help.ย
By converting to a non-profit, establishing an Employee Ownership Trust, or becoming a co-operative, local businesses not only receive help but also ensure job security and retain wealth within the community.
Closing a family business has broader impacts and implications on the community surrounding it - especially in terms of neighbourhood wealth and job losses.
It's vital for those in the social services world to continue to learn, grow and implement new ideas.
When outside interests take over a small or medium business, manager positions are usually the first to be cut, removing large salaries from communities. Often, the business is purchased then closed, leaving holes in the community. Employee Ownership Trusts help businesses stay in local communities when a business has no successor, and contribute to employee retention and financial wealth.
