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Reaching further: A new $100M boost for the 520,000 entrepreneurs in rural and remote communities
BDC and Community Futures/SADC+CAE/CBDC join forces to expand access to financing and advice, unlocking growth where it’s often overlooked.
Prince George, Québec and Montréal – October 15, 2025 – Community Futures/SADC+CAE/CBDC and the Business Development Bank of Canada (BDC) today announced a $100M initiative to reach more business owners living in rural and remote areas. Leaders in their communities, rural entrepreneurs are an exceptionally active demographic, with an entrepreneurship rate standing at 17% in 2024, compared to 12% in urban areas. The financing envelope created by this new initiative is expected to generate up to $250 million in GDP over five years.
With their respective business centres and offices throughout the country, Community Futures/SADC+CAE/CBDC and BDC have a complimentary footprint. A federal program administered by regional development agencies and Canada Economic Development, Community Futures/SADC+CAE/CBDC operates 267 non-profit offices across Canada delivering small business loans, tools, training and events. BDC supports entrepreneurs with financing, advisory services and capital from 109 business centres across Canada and online at bdc.ca.
“This initiative aims to increase the support provided to the 520,000 entrepreneurs living in rural and remote areas who grow our economy”, said the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. “It leverages the complementary strengths of both organizations—BDC’s financing and advisory expertise and Community Futures/SADC+CAE/CBDC’s deep local presence across the country.”
“At BDC, we believe that every entrepreneur, no matter where they live, deserves a fair chance to grow their business. Rural and remote communities are full of bold, resilient business owners who often face more barriers and fewer resources”, said Isabelle Hudon, President and Chief Executive Officer of BDC. “This initiative with Community Futures/SADC+CAE/CBDC allows us to do what a development bank should: go where others don’t, and build bridges where gaps exist. We’re unlocking potential that’s been overlooked for too long. We believe that’s what our economy needs right now.”
“Joining forces with BDC to supercharge the opportunities and resources available to rural and remote entrepreneurs from coast-to-coast-to-coast is a powerful combination that will result in significant impact throughout the country for decades to come,” said Troy Dungate, President of Community Futures/SADC+CAE/CBDC. “BDC is committing to investing $100M to bolster businesses that often face strong headwinds simply due to geography and the vast nature of our country. This commitment, combined with our boots-on-the-ground, grassroots knowledge is an intelligent way to ensure that this capital infusion is dispersed through loans to new and existing entrepreneurs that are ready to bring their business to the next level. Additionally, we know that many entrepreneurs in rural Canada are attracted to the work because of the desirable lifestyle it creates for their families. Working together, we expect this to make positive, meaningful change in the lives of individual Canadians and our country as a whole.”
This initiative with Community Futures/SADC+CAE/CBDC builds on BDC’s broader commitment to develop entrepreneurial potential in all its forms and to help grow the Canadian economy. Since launching our Community Banking initiative in November 2024, BDC teamed up with financial institutions and community lending partners that support underserved groups. By joining this network of trusted partners, Community Futures/SADC+CAE/CBDC should help us reach even more business owners in rural and remote areas. It’s about meeting entrepreneurs where they are and helping them grow.
Empowering SMEs to drive sustainable economic growth
Government of Canada support will help unite Canadian community and business leaders to strengthen local economies
November 22, 2024 · Moncton, New Brunswick · Atlantic Canada Opportunities Agency (ACOA)
As part of Global Entrepreneurship Week, we celebrate the vital role small and medium-sized enterprises (SMEs) play in driving sustainable economic growth in Atlantic Canada. Representing 98% of all businesses in Canada, SMEs account for nearly half of private sector jobs and generate at least one third of the country’s economic output. They also drive local economies and strengthen community resilience. The Government of Canada is committed to supporting entrepreneurs in rural, remote and coastal areas by providing the resources and expertise they need to grow their businesses, create jobs and strengthen their communities.
To reinforce this commitment, the Honourable Gudie Hutchings, Minister of Rural Economic Development and Minister responsible for ACOA, announced a $250,000 investment to support the 2025 Community Futures National Conference, to be held in St. John’s, Newfoundland and Labrador, from May 4 to 6, 2025.
This conference will bring together approximately 500 community leaders, business leaders and business development professionals from across Canada. It will provide a valuable platform for collaboration, sharing best practices, and addressing common challenges faced by rural and remote economies.
Today’s announcement highlights the Government of Canada’s commitment to fostering resilient local economies and supporting the growth of rural, remote and coastal communities across Canada. It reinforces the commitment to building a thriving economy in all regions of the country, ensuring that local businesses can overcome challenges, seize new opportunities, and contribute to a prosperous future.
News Release - National Conference 2022 in Ottawa
The Community Futures Network of Canada (CFNC) held its national conference in Ottawa on May 8-10, 2022 to highlight the contributions the Community Futures Program has made in helping Canada’s rural, remote and Indigenous communities become more sustainable. The three-day event brought together more than 500 decision makers and industry leaders from all 13 provinces and territories to network, share best practices, and learn new approaches to developing strong, economically sustainable communities.
One of the highlights of the event was a reception on Monday evening, May 9th, at the Westin Ottawa that was attended by more than 50 Members of Parliament from all parties. The Honourable Gudie Hutchings, Minister of Rural Economic Development, delivered the opening remarks at the reception.
“Important programs like Community Futures remind us that for Canada to succeed, we need our rural and remote communities to thrive. The Government of Canada is committed to continuing to support the economic growth and resilience of rural Canada. Budget 2022 proposes a range of important programs and initiatives to support Canadians living and working in rural communities. We all need to double down, and support the economic diversification and sustainability of our villages, towns, hamlets and coves from coast-to-coast-coast,” said the Honourable Gudie Hutchings, Minister of Rural Economic Development.
The conference also featured opening remarks from the Honourable Helena Jaczek, Minister Responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) on behalf of Canada’s regional development agencies, and a keynote address by Sébastien Sasseville whose presentation, “One Step at a Time: Thriving in Change to Win the Long Game,” set the tone for the whole conference.
“By utilizing their regional knowledge and ability to provide direct on-the-ground support to the unique rural communities they serve, Community Futures Development Corporations play a vital role in delivering support, building partnerships and providing mentorship to rural businesses and organizations,” said the Honourable Helena Jaczek, Minister responsible for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).
Other speakers included change management specialist Mark DeVolder on leading organizations through change, scientist and astronaut Dr. Shawna Pandya on success, failure and resilience, and Kyle Larkin on grassroots advocacy.
Press Release - Community Futures to deliver Regional Relief and Recovery Fund
On behalf of the Community Futures Network of Canada and the 268 Community Futures Organizations located in rural areas and territories across Canada, we welcome Minister Joly’s announcement on the new Regional Relief and Recovery Fund (RRRF) of which $287M dollars have been allocated to the Community Futures Network.
This funding will be targeted towards rural businesses that may require additional help to recover from the COVID-19 pandemic and have been unable to access existing support measures.
The Community Futures Program has been serving rural communities for over 30 years. Each office operates as an individual non-profit corporation, with its own volunteer board of directors and its own portfolio of lending products and services. This means that the local board takes into consideration additional factors that a traditional bank may not, and it means the application turnaround can be much faster and efficient.
The Community Futures Network looks forward to working with the Regional Development Agencies to deliver the funding to rural businesses as quickly and efficiently as possible.
To learn more about the financing and business support services available through Community Futures organizations, please contact your local or provincial Community Futures organization for details. To access contact information for each provincial/regional Community Futures organization, please visit communityfuturescanada.ca and select your province.
Press Release - Prime Minister Trudeau announces Regional Relief and Recovery Fund
On behalf of the Community Futures Network of Canada and the 267 Community Futures Organizations located in rural areas and territories across Canada, we applaud the Prime Minister’s announcement from Friday, April 17th where $287M dollars have been allocated to the Community Futures Network.
This funding will be allocated towards smaller employers and businesses located in rural parts of the country who do not qualify for the recently announced wage subsidy or loans or still need assistance in managing their operations through these challenging times.
As Canadians work together to limit the spread of COVID-19, the severe financial impacts of the pandemic and physical distancing measures have been particularly challenging for rural communities and the small businesses that they rely on to provide essential goods and services. The loss of one of these businesses in a small community, where there are no other local options, can be devastating. And we know that some of the greatest impacts, in seasonal industries like tourism, are yet to come.
That’s why we are so appreciative of the supports announced today by Prime Minister Trudeau.
The higher operating costs faced by rural small businesses and the smaller markets that they serve mean that the current loss of revenues is felt harder, and that their road to recovery will be longer and more challenging. The funds announced today will go a long way towards making that road easier to travel.