For the last 10 years, Chris Payne has headed up an innovative program to drive hyperlocal investing in the province of Nova Scotia. Chris doesn’t use the term ‘hyperlocal investing’, but it seems apt. Nova Scotia’s Community Economic Development Investment Funds (CEDIF) offer unique opportunities to help local farmers and small businesses gain access to capital on a county-by-county and town-by-town basis, and sometimes even more local than that.
In April 2010, the BC Centre for Social Enterprise released a paper by charities lawyer Richard Bridge, called More Reflections on Legal Structures for Community Enterprise. The creation of the paper was supported by the Illahie Foundation and MCC BC.
Canada has a rich history of social enterprise, especially seen through the lens of Quebec’s social economy or the broader community economic development movement. Less well developed is a nationally scaled social enterprise and social finance movement, which has not had the benefit of supportive and comprehensive national public policy. In that sense, Canada trails behind other jurisdictions like the United States or the United Kingdom.
I was very fortunate in April to have learned a lot about the UK’s experience when I travelled there to attend the 2010 Skoll World Forum. The forum coincided with the start of the UK election and, as it turned out, I was trapped in the UK for a second week due to the Icelandic ash cloud. Like my prolific UK-reporting colleagues Robin Cory and Al Etmanski, I had an unanticipated, intensive and policy-rich exposure to the UK scene.
There’s a movement underfoot. A call to action to establish a separate legal structure for social enterprise in Canada. And, like many issues in this cozy world we inhabit, the quest is challenging, dare I even say divisive. “What’s that?” you ask incredulously. “An issue upon which this community disagrees?” Indeed. [insert sarcastic retort here].
First a caveat: My goal is to provide an overview of a topic growing in significance, offer intellectual food for thought, stir up some debate, and encourage discussion - in 1200 words or less. Thankfully, individuals way smarter and knowledgeable than I have spent many months researching the legal complexities involved. So, with a huge sigh of relief I respectfully direct you to the links on the following site for a more thorough examination of this issue. www.centreforsocialenterprise.com
I have a new favourite noise - the sweet sound of planes overhead. After 12 memorable days in the UK, it was delectable to finally touch down in TO, flying safely by the falling ash from Eyjafjallajökull. While my journey involved meetings with several social finance organizations and attending the Skoll World Forum on social entrepreneurship, many unexpected events reaped great rewards.
One of the hottest topics at Skoll was Social Finance. Much of the content fell under the banner of Impact Investing (also referred to as Social Investment or Sustainable Investment).While there were numerous examples of impact investing presented at Skoll, I will highlight four particularly compelling ones here that offer a range of approaches.
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Your Guide helps social entrepreneurs learn how to attract financing for their social ventures.
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Your Guide to Social Finance
SocialFinance.ca hosts an online guide that helps social entrepreneurs learn how to attract financing for their social ventures.
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