Ontario Making Strides in Community Economic Development

Abstract

Considering the rising importance of Community Economic Development (CED), this article investigates the rising use of CED in Ontario and the broader Canadian context by utilizing examples of Saskatchewan, Ontario, and other regions. Although, Canada is focusing on CED, there appears a common issue across all provinces and municipalities that have adopted this program, the amount of loans and funds given to borrowers is quite insignificant. Most often, entrepreneurs are allotted $3,000 to $15,000. This barely helps to kickstart their company, leaving them with a weak ended financial backing. CED demands leadership, responsiveness, and the ability to identify issues and build a network for community action. It does so by harnessing the creativity and energies of communities so that they can take control of their own destiny. The effectiveness of CED rises from the idea that all members of the community must participate in planning, decision-making, and implementation so that everyone can benefit in the process. CED is the new trend in equal and effective economic development strategies that utilize community man-power, benefiting and lifting-up the community from within. A stable economic growth depends on the continuous, provincial and municipal investment in community economic growth through loans and funds to new entrepreneurs and business owners.