BUILDING THE SOCIAL ENTERPRISE HUB
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1 SCALING IMPACT THROUGH COLLABORATION BUILDING THE SOCIAL ENTERPRISE HUB SAINT JOHN, NB Presentation by: Seth Asimakos, GM, Presentation for: Local Prosperity Conference, Miramichi, NB November 4, 2016
2 27%
3 Our Mission improve social conditions; promote economic independence; foster entrepreneurship in our community Create income Build assets Attain greater self-reliance
4 1 st Loan
5
6 A$$ets Money Matter$ Youth + Entrepreneurship = Success! Enterprising Women An Enterprising Culture
7 2009 Pawn shop to Loan Fund & Housing
8
9 A Social Enterprise hub 15,000 square feet 3 floors Three floors 1 st floor enterprises 2 nd floor training 3 rd floor innovative organizations
10 Why it makes sense
11 Great Organization in Sub standard non profit space.
12 the neighbourood Waterloo Village Indicator 2001 (%) 2006 (%) City Poverty Rate High School Non-Completion Labour Force Participation Rate Rented Dwellings
13 It Fits need (re)urban intensification and mixed use promote culture of entrepreneurship and locallyowned businesses
14 It Fits foster a culture of entrepreneurship strengthen collaboration For Job creation; For Poverty reduction
15 It Fits Building strategic projects that build the economies of Atlantic Canada Assisting entrepreneurs, investing in infrastructure, accessing capital
16 Target tenant/partner entrepreneurial non profits micro entrepreneurs social enterprises The Value: cluster effect for innovation, for purchasing, for leveraging investment leading technology multiple and flexible meeting space central location affordable rent enterprise support and acceleration
17 So who do we have
18 the ground floor is about enterprise ACAP Canoe Lindsey s Bookkeeping Yoga
19 second floor training rooms that are shared and active 9:00am - 9:00pm can be collapsed and enlarged larger More than 100 people a day using the training
20 On the third floor, enterprising nonprofits work on poverty reduction, social enterprise, environmental stewardship and innovation.
21 Timeline of Pre-Construction Idea Tenants/Partners - Financing LOAN FUND BUILDING Idea was first thought of when the LF building was being bought and renovated. GERRY POND & SIR JAMES DUNN FOUNDATION FUNDING PROVINCIAL GOVERNMENT FUNDING FEDERAL GOVERNMENT FUNDING FALL2015 GETTING PEOPLE ON BOARD The Loan Fund Board of Directors needed to provide approval before the project could move forward GREAT WEST TD BANK MCCAIN and other funders ALL FUNDING SECURED GROUND BREAKING A total of 2.5 million dollars was secured through fundraising, donations, and mortgages.
22 Timeline Construction - collaboration Contract Signed With contractor. Collaborative Development Officer Leases signed Facilitated meetings with EDs Final all staff gathering Collab.. Manual Nov 2015 Jan 2016 Mar 2016 June 2016 Aug 2016 Oct 2016
23 Still to do Get incubation room running Welcome desk Stone Soup Café Operational and Collaborative Manual
24 Lessons Learned Take time with contract and details Raise more money than you need Definitely hire a development officer
25 Next Three years Operational launch and testing and adjusting cashflows Ramp up the collaborative model Build joint venture or two Pitch the next project to scale
26 Next Three years Oh and grow the Hubcup!
27 to Consider Leveraging Community Economic Development Corporations and Associations CRA - Investments by registered charities in limited partnerships
28 Three Final Points 1. Think BIG 2. Never give up 3. Build partners
29 For More Information Please Contact Us Seth Asimakos Co-Founder and GM SJ Community Loan Fund
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