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The Quebec social economy experience
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Chantier de l’économie sociale: networks of collective enterprises, local and regional development organisations and social movements to promote and develop the social economy
Recognition by Quebec government as a participant in economic and social development
Le Chantier de l’économie sociale
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Started as a work group out of the 1996 summit on employment and economy
Stakeholders in the social economy then decided in 1998 to make permanent the work group in charge of promoting and developing collective entrepreneurship
Chantier de l’économie sociale became an independent corporation
Le Chantier de l’économie sociale
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A general assembly and A board of directors of 32 members representing the
various stakeholders in the social economy.
Le Chantier de l’économie sociale
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Board of director: 8 Networks of social entreprises 6 Network for territorial developpement 5 regional hub 6 social mouvements (2 unions, women, et autres) 1 First nation 2 individual (research etc.) 4 non-voting (RISQ, Fiducie, CSMO-ÉSAC, Youth
comitee)
Le Chantier de l’économie sociale
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New financial tools
New enterprise models
New institutions and networks emerge
New financial tools
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Many institutional barriers Acces to capital Undestanding of social economy Commercialization strategies Image of the social economy Work on social financing and social indicators
Challenges
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Réseau d’investissement social du Québec:
A 12M$ fundContribution from: Québec governement Private entrprises:
Alcan Groupe Jean-Coutu Imasco Caisse Desjardins Banque Nationale, de Montréal et Royal
A first answer
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Réseau d’investissement social du Québec:• Technical assistance and capitalization components
484 projects $11 million investment Creation and maintenance of more than 6,000 jobs Recreation and tourism, services, recovery-recycling,
solidarity commerce, culture, etc.
A quick snapshot
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Needs for patient capital as equity Size of projects ever growing Products that complement grants and loans
Rates that take their social mission into accountCapital that remains in the business
Private and institutional investorsAn appropriate balance between risk and performanceA vehicle to receive their investment
New Challenges
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CES Trust
Contribution from: Development Agency of Canada for the Regions of
Quebec : 22.8 M$ Fonds de solidarité FTQ: 12,0 M$ Fondaction CSN: 8,0 M$ Québec governement: 10,0 M$
Total : 52,8 M$
Fiducie de Chantier de l’économie sociale
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Operations Patient Capital
Real Estate Patient Capital:
Fiducie de Chantier de l’économie sociale
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29M$ invested in 119 projects
32% in operating patient capital39% Real estate patient capital29% mix of both
Fiducie de Chantier de l’économie sociale
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Need for community Housing Response against « social bonds » Response to the diminution of gouvernement
program Beeing a actor in financing
Housing Challenges
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With the actors of community HousingIn adition to governement programProjet pilote de 1 200 unités sur 3 ans:
2013: 200 unités 2014: 500 unités 2015: 500 unités
31,5M$
A limited partnership fund
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