What is a Community Futures?
Community Futures organizations are independent, locally-run and guided by volunteer boards. They actively support community-based economic development with a range of products and services aimed at creating diverse, sustainable rural communities.
Established in 1986 by Employment and Immigration Canada (now named Human Resources Development Canada), Community Futures has been responsible for establishing 90 Community Futures organizations throughout rural western Canada. In 1995, responsibility for Community Futures was transferred to Western Economic Diversification Canada (WD) who continue to provide core funding assistance.
Community Futures provide their communities with a variety of services including business development loans, technical support, training, and information. In addition to the business development component, CFDCs involve themselves in a wide array of community initiatives, including strategic planning processes, research and feasibility studies, and the implementation of a diverse range of community economic development projects.
Community Futures are:
- non-profit organizations guided by a volunteer board of directors and staffed with business professionals, who together are actively engaged in helping to develop and implement community-based economic development strategies;
- user-friendly business development centres that control and manage investment funds from which they make fully repayable loans of up to a maximum of $125,000 to community members who are interested in starting or expanding their own businesses;
- entrepreneurial development centres that provide one-on-one business training to assist individuals who are interested in self-employment or in expanding their business; and
- proactive, progressive thinking, community organizations dedicated to strengthening both their community's entrepreneurs and their community's economy as a whole.
