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Government of Canada supports training program to help Atlantic Canadian entrepreneurs accelerate their business growth

High Growth Essentials program to increase businesses’ ability to expand, access new markets

June 11, 2014 – Moncton, NB – Atlantic Canada Opportunities Agency (ACOA)

Atlantic Canadian entrepreneurs will have an opportunity to develop the skills they need to make their businesses more innovative, productive and competitive, thanks to an investment by the Government of Canada. The Honourable Rob Moore, Minister of State (ACOA) today announced an investment of $126,673 under ACOA’s Business Development Program for High Growth Essentials (HGE 2014), a program dedicated to helping small and medium-sized businesses become high-growth firms.

The Sobey School Business Development Centre (SSBDC) will deliver HGE 2014 to more than 200 entrepreneurs from across Atlantic Canada. The initiative includes two main components: a series of group workshops open to businesses from all sectors and at various stages of growth, and an advanced one-on-one consulting program.

HGE 2014 builds on the success of a pilot program, which was also developed and delivered by the SSBDC from 2011-2013. Past participants are currently drawing on the knowledge gained through the pilot program to increase the value of their businesses by addressing issues ranging from modernizing their inventory and sales systems, to implementing new marketing strategies, to developing new products and expanding into new markets.

Quick Facts:

  • High-growth firms are defined as businesses that begin with at least 10 employees and achieve an annual average growth rate of at least 20 per cent per year over three years. (OECD Library, Entrepreneurship at a Glance 2012).
  • From 2001-2006, high-growth firms represented only 2.6 per cent of all firms in Canada, but they employed close to 258,000 people, or 8.6 per cent of overall employment. (Statistics Canada, Growth Map of Canadian Firms – January 2010).
  • HGE workshop topics include marketing, financial decision-making, human resources strategies, and how to use innovation for growth. Through the advanced consulting program, 15 small and medium-sized enterprises (SMEs) will have the opportunity to work with a consultant in order to develop and implement a strategic and sustainable growth plan specific to their business needs.
  • The Sobey School Business Development Centre at Saint Mary’s University in Halifax, Nova Scotia is a non-profit organization focused on business development within Atlantic Canada and beyond. The Centre provides assistance to businesses and non-governmental organizations in research, planning and implementation.

Quotes:

“Our Government recognizes that entrepreneurs play an important role in building a strong, dynamic Atlantic economy. That is why we are pleased to support organizations like the Sobey School Business Development Centre, that help our region’s entrepreneurs acquire the skills they need to successfully grow their businesses and expand into new markets, in turn creating jobs and helping to grow our economy.”

– The Honourable Rob Moore, Minister of State (Atlantic Canada Opportunities Agency)

“High growth companies are the engines for job creation. To be successful they must overcome significant and unique challenges. Sobey School Business Development Centre specializes in helping growth companies be successful. With ACOA support, we are pleased to assist some of the region’s most dynamic businesses. Workshops will be taking place throughout Atlantic Canada, from Yarmouth, Nova Scotia to Gander, Newfoundland and Labrador, starting this month continuing through to October.”

– Eric Crowell, Director, Sobey School Business Development Centre

Associated Links:

Contacts:

Kelsie Corey
Director of Communications
Office of the Honourable Rob Moore
Atlantic Canada Opportunities Agency
613-941-7241

Heather d’Entremont
A/Senior Communications Officer
Atlantic Canada Opportunities Agency
506-961-0081
[email protected]

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