Fredericton social enterprise keynote
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Presentation in Fredericton, New Brunswick brought to you by the Co-operative Enterprise Council of New Brunswick, the Pond-Deshpande Centre, the Economic and Social Inclusion Network, and OMISTA Credit Union. The presentation covers social finance tools that will help co-ops finance start-up and expansion. Topics include social enterprise, crowdfunding, microloans, CEDIFs, Small Business Investor Tax Credit, community bonds, and social impact bonds.
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Fredericton social enterprise keynote
- 2. Agenda -Introduction -Crowdfunding -Community Bonds -Microloans -Social Impact Bonds -Social Enterprise -CEDIFs -Small Business Investor Tax Credit
- 3. Timothy Nash @timenash nash@sustainableeconomist.com June 12, 2013
- 4. Social Enterprise -Any organization that earns revenue by selling a product or service and generates a positive social impact Timothy Nash @timenash nash@sustainableeconomist.com June 12, 2013
- 5. Crowdfunding -Raise money for specific projects -Gifts / rewards are given for donations - bigger donations get bigger rewards -Tiny donations are made by large crowds -These are donations, not investments Timothy Nash @timenash nash@sustainableeconomist.com June 12, 2013
- 7. Grants $5-$25K grants to social entrepreneurs -additional support in the form of mentorship, expertise, and exposure to investors
- 8. Microloans -Small loans to new immigrants to upgrade their credentials to Canadian standards -Small loans to social entrepreneurs in the Greater Saint John area
- 9. Microloans -Small loans to entrepreneurs who don’t have access to traditional loans -Require a strong business plan, and often come with additional coaching, mentorship -Creates meaningful employment by supporting the next generation of entrepreneurs Timothy Nash @timenash nash@sustainableeconomist.com June 12, 2013
- 10. Community Economic Development Investment Funds (CEDIFs) Raise capital by issuing shares Used for startup or expansion Build community support 35% tax credit Locked-in for 5 years Strengthen local economy
- 11. -Allows organizations to raise money by issuing shares to non-accredited investors -Investors get a 35% tax credit and strengthen the local economy with their RRSP -These investments can be very risky, and investors won’t be able to sell if it turns south Community Economic Development Investment Funds (CEDIFs) Timothy Nash @timenash nash@sustainableeconomist.com June 12, 2013
- 12. Small Business Investor Tax Credit -Allows small businesses to raise money by issuing shares to non-accredited investors -Investors get a 30% tax credit and strengthen the New Brunswick economy with their RRSP -These investments can be very risky, and investors won’t be able to sell if it turns south (4 years)
- 13. Community Bonds $10,000 per bond 4% return for 5 years Raised $2 million Provides space for social enterprises Protection against global ‘systemic’ risks
- 14. Community Bonds -Allows non-profits to raise money for expansion -Investors get a ‘blended return’ - a financial return plus a social return on investment -Backing it with an asset (real estate) reduces risk, and lowers the expected return http://communitybonds.ca/
- 15. Social Impact Bonds SIBs are a way to leverage private money to invest in preventative programs that will lower government expenditures in the long-term Timothy Nash @timenash nash@sustainableeconomist.com June 12, 2013
- 16. Social Impact Bonds Investors Intermediary Non Profit Government 1. Make Investment 2. Fund Prevention Program 3. Outcomes that Reduce Expenditures 4. Pay for Programs that Meet Targets 5. Repay Investment + Return $ $ $ $ $ Timothy Nash @timenash nash@sustainableeconomist.com June 10, 2013
- 18. Social Impact Bonds -Agree on social outcome metrics -Define the scope -Quantify saving to government -Independent verification of results Timothy Nash @timenash nash@sustainableeconomist.com June 12, 2013
- 20. Why are social finance tools important for New Brunswick? Workshop Round 1
- 21. What questions do you still have about social finance tools? Workshop Round 2
- 22. What are our next steps? Workshop Round 3