Canada: New financial contribution for Quebec’s SME support initiative

The Canada Economic Development for Quebec Regions (CED) has announced a new contribution to the Réseau des SADC et CAE to enhance its Small Business Support Initiative (SAPE), designed to assist businesses owned by women and indigenous entrepreneurs with expanding their business activities.

The initiative focuses on four areas: innovation, integration of communication technologies, sustainable development, and business succession and transfer.

The latest $1.4 million financial contributions, in addition to the $4.5 million committed when the initiative was launched in 2016, will enable the Réseau to coach more than 130 female and indigenous-owned businesses over the next year.

Daniel Dumas, President of the Réseau, explained: “this contribution is the result of a collaboration with the Canada Economic Development and representatives of the Honourable Navdeep Bains, as well as the standout achievements of SAPE over the last two years”.

The SADCs and CAEs support around 10,000 businesses each year, translating to an annual investment of $70 million in Quebec communities and over 1,000 local economic development projects.

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