April 29, 2024 - Invested in BC’s North press release – for immediate release
Nine Community Futures offices in northern BC are co-launching a new campaign that highlights the challenges and beauty of small business entrepreneurship in the northern reaches of the province.
Invested in BC’s North celebrates the positive impact that Community Futures has on local entrepreneurs and communities as far north as the Yukon border, all the way to South Cariboo. The campaign is running until December 2024 and demonstrates the resilience and creativity of northern business owners in adapting to new economic, environmental, and social challenges in the places they call home.
Rural entrepreneurs generally have a harder time accessing finance, business services and basic infrastructure, making it more challenging to operate and sustain successful businesses. In addition, they are more vulnerable to regional economic, environmental, and social challenges, such as mill closures and devastating wildfires and floods.
“Community Futures has decades of experience in supporting entrepreneurs from their business startup to succession planning. We’re small, agile, and local. Our team knows what it’s like to live and do business in the north. We give people the tools, resources, mentorship, and financial support that are right for their business’ unique situation and needs”. – Ais Sheridan, Community Futures, Nadina
Businesses that have received support from a Community Futures office, have a proven head start in achieving higher business longevity, sales and employment rates than businesses who were not assisted by Community Futures. And in turn, those businesses pave the way for regional growth, diversified economies and job creation.
In 2022-2023 alone, the nine Community Futures offices in northern BC loaned $7.4 million, provided close to 4,500 business advisory services and supported more than 120 community projects in their respective regions.
For more information about the Invested in BC’s North campaign and the stories of northern BC entrepreneurs, please visit: www.InvestedInBCsNorth.ca
About Community Futures
Community Futures is the only organization throughout rural BC with a mandate for small business and community economic development. Their experts offer local assistance with business planning, loans, business support services and self-employment, from 34 offices in rural BC.
The Community Futures offices in northern BC serve the following regions:
Haida Gwaii (Daajing Gids & Masset), Peace Liard (Dawson Creek), Nadina (Houston), Fraser Fort George (Prince George), Pacific Northwest (Prince Rupert), North Cariboo (Quesnel), 16/37 (Terrace), Stuart Nechako (Vanderhoof) and Cariboo-Chilcotin (Williams Lake).
News Release
Victoria
Monday, November 14, 2022 12:15 PM
Local governments, First Nations and other organizations looking to strengthen their communities can apply for new funding to build capacity and diversify rural and remote economies in B.C.
The Government of B.C. is investing as much as $33 million in 2022-23 to create the Rural Economic Diversification and Infrastructure Program (REDIP), which will support projects that promote economic diversification, resilience, clean-growth opportunities and infrastructure development.
“People across rural B.C. are passionate about their communities and are incredibly resilient in the face of challenges,” said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. “As part of our StrongerBC Economic Plan, we’re working shoulder to shoulder with local governments and First Nations to help diversify local economies to support good, stable jobs for people for years to come.”
Communities can receive funding through three streams:
Economic diversification – Projects that plan or implement programs, services and infrastructure to support economic development and diversification in communities with populations of 25,000 or less (maximum funding: $1 million).
Economic capacity – Projects that build local capacity and improve ability to support economic development and diversification in communities with populations of 2,500 or less (maximum funding: $100,000).
Forest impact transition – Projects that support economic recovery and diversification in affected forest-dependent communities (maximum funding: $500,000).
“Leaders in rural and Indigenous communities across B.C. work tirelessly to build economies that provide steady employment, stable services and exciting economic opportunities for their residents,” said Roly Russell, Parliamentary Secretary for Rural and Regional Development. “Our government is helping to build on this resilience through a suite of initiatives, and I’m excited to add REDIP to that list. From capacity-building to internet connectivity to enhanced and new infrastructure, we’re working with communities in every corner of the province so that people can thrive wherever they live.”
The REDIP is funded in part by $185 million over three years from Budget 2022 to provide co-ordinated and comprehensive supports for forestry workers, industry, communities and First Nations that may be affected by restrictions on old-growth logging.
Local governments, Indigenous communities and organizations, Indigenous development corporations and not-for-profit organizations can apply for funding starting Nov. 15, 2022. A second intake will be open next year, with more information available in spring 2023.
Building resilient communities is a key action of the StrongerBC Economic Plan, helping move British Columbia forward by tackling the challenges of today while growing the economy.
Multi-year unrestricted grants for non-profit organizations disproportionately impacted by the pandemic to support their recovery and long-term resiliency.
The Recovery and Resiliency Fund is a new fund made possible through a partnership between Government of BC, Vancouver Foundation, and United Way BC that will distribute $30 million to non-profit organizations. Vancouver Foundation will also contribute an additional $4 million while also actively seeking additional sources to increase the overall funding available.
For further information, please visit Recovery and Resiliency Fund | Vancouver Foundation
