Will Provide $2 Million Worth of Support for Small Business in Atlantic
Telegraph-Journal, October 18, 2000
By Mark Reid
New Brunswick entrepreneurs have added technical and educational
support thanks to a new $10 million privately funded economic development
The Community Economic Development Technical Assistance Program
will provide support for worthy community-based, small-business
projects across Canada. It is being managed by Carleton University
21 per cent of the $10 million- about $2.1 million is to
go toward business development in Atlantic Canada.
During its three-year pilot phase, the program helped a group in
Saint John create a community learn program for low-income residents.
Seth Asimakos, co-ordinator of the Saint John Human Development
Council, said the community lean fund has helped several Saint John
residents realize their business dreams.
lend [money] to people that dont have a chance to get credit
from the banking institutions, Mr. Asimakos said.
In one instance, the council gave a loan of $3,000 to a man on social
assistance to help him start a company that salvages sunken logs.
That man took in $47,000 in his first year of business and expects
to make about $100,000 this year.
The program provided the Saint John Community Loan Fund with the
technical and educational assistance it needed to get off the ground,
Mr. Asimakos said.
[the program] has done is provided us with an opportunity,
Mr. Asimakos said. Its technical assistance, taking
advantage of the experience of others.
Program co-ordinator Jacques Carriere said the goal of the initiative
is to give entrepreneurs the helping hand they need to succeed.
The program is funded in part by the Montreal-based J.W. McConnell
Family Foundaton. The foundation will pay $5 million to the program.
Mr. Carriere hopes to raise another $5 million from the private
During its three-year pilot phase, the program lent assistance to
nearly 100 communities.
Mr. Carriere announced the Community Economic Development Technical
Assistance Program at a national meeting of program officials in
Prior to the announcement, the program officials heard an address
by John Ralston Saul, an essayist and novelist and husband of Governor
General Adrienne Clarkson.
Mr. Saul railed against the trend toward globalization and the diminishment
of real democracy both at the community, national and international
He also stressed the importance of publicly funded education and
called the rising student debt burden unacceptable.
Mr. Saul praised New Brunswick, and Moncton in particular, for its
bilingual, bicultural harmony.
He cited a recent meeting on social issues, held in Moncton, where
people were speaking English, people were speaking French,
nobody was worrying about it.
only was it a completely bilingual group, but you could see them
getting pleasure from the fact that there was this complexity in
their community. Very positive.
Mr. Carriere would like to expand the assistance program to more
than 500 urban and rural communities across Canada over the next