Community business development corporation

Community Business Development Corporations (CBDCs) are not-for-profit organizations run by volunteers from the local business community. Located throughout rural Atlantic Canada there are 41 CBDC offices dedicated to the development of small business and assisting entrepreneurs in accessing financing and other business training and resources.[1]

Jurisdiction

The CBDCs are dedicated to the development of small business and job creation and enhancement in rural Atlantic Canada. CBDCs are subject to Treasury Board of Canada regulations.

Governance

CBDCs operate under the guidance of a local Board of Directors.[2] The Board of Directors is representative of the area served by the CBDC, and all members of the board are volunteers.[2] This organizational structure permits the CBDC to play a direct and active role in employment development within their jurisdiction. The Board of Directors is complemented by a professional staff, varying in size depending on the level of activity within the region served and resources made available to it by the Government of Canada. CBDCs act as a delivery agent for several governmental financing programs for small business. They have options available to help individuals establish a new business, expand an existing one, or to stabilize/modernize their current business.

References

  1. ↑ OECD SME and Entrepreneurship Outlook 2005 page 195 ISBN 9264009256
  2. 1 2 Co-operation, Organisation for Economic; Development, (2010). OECD territorial reviews. Paris: OECD. p. 146. ISBN 9789264081116.
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