OECD encourages green growth in CanadaCanada remains a leader among Organisation for Economic Co-operation and Development (OECD) nations when it comes to livability. However, a recent OECD report,
Promoting Green and Inclusive Growth in Canada, argues that more can be done to improve labour productivity, tackle regional inequality, and foster economic growth that is both inclusive and environmentally sustainable. The report covers a number of recommendations around policy, taxation, benefits, climate change, international aid, education and training, and R&D and innovation. A key element of green and inclusive growth is equipping all Canadians with
the same skills and opportunities. Even though Canada has high educational attainment, graduates lack skills needed for the labour market. The OECD recommends improving education to ensure all Canadians have the skills needed to make a living. Increasing opportunities for all Canadians will lead to a
healthier economy and a more skilled and diverse workforce. Other key areas of focus are the environment and sustainable development. The OECD recommends approaches like federal-provincial-territorial collaboration on creating a low-carbon economy and tackling climate change. For economic developers, workforce development professionals, planners, and policy makers across Canada, this report offers some thought-provoking recommendations for ways to create a greener, more inclusive economy.
The future of capital and funding for start-ups and SMEs Funding and access to capital are critical elements of success for businesses. A World Economic Forum
(WEF) study, Alternative Investments 2020: The Future of Capital for Entrepreneurs and SMEs,
outlines alternative investment trends and opportunities. According to the report, factors such as regulation, changes in demand for capital, and technology are driving the emergence of new sources of capital. These factors have led to new investment opportunities for start-ups and SMEs, including increased start-up capital and a new and growing crowdfunding marketplace. The report found that start-ups are increasingly looking for funding at earlier stages and are staying private longer. The report highlights that it has become easier to invest in start-ups, leading to an increase of 22 per cent in individual angel investors between 2009 and 2013. Future trends for early-stage venture capital investment include increased specialization of private equity, venture capital firms, and
hedge funds, often focusing on specific industries or geographic regions. Crowdfunding platforms have been on the rise since 2010. These platforms fall into six main categories. Peer-to-peer lending or marketplace lending provide a platform where non-banks and tech-focused organizations can loan money to borrowers. Rewards-based funding provides investors with rewards or discounts in return for the capital investment. Marketplace lending makes up the majority of crowdfunding, growing from 450 platforms to over 2,500 between 2011 and 2014. The report predicts that crowdfunding will become increasingly mainstream and international, with traditional banks beginning to partner with crowdfunding platforms. While somewhat broad in focus, Alternative Investments 2020
highlights some interesting trends and alternative capital sources. For economic developers, it offers insight into how new capital sources could impact businesses in their communities in the future.
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Will 2030 see the end of extreme poverty?In 2000, the World Bank set a goal to eradicate extreme poverty by 2030. The World Bank’s objective is to decrease the percentage of people who make less than $1.90 per day to no more than 3 per cent of the global population.
In 2015, the UN picked up on the goal as well. In Poverty and Shared Prosperity, The World Bank explores global poverty levels and inequality. Since 1990, 1.1 billion people
have escaped extreme poverty. This decline continued even during the great recession. In 60 out of 83 countries examined in the report, the poorest 40 per cent saw their incomes increase. In 49 countries, the incomes of the poorest 40 per cent grew faster
than any other incomes on average. These figures contrast with the fact that in 23 countries, mostly high-income industrialized ones, the poorest 40 percent saw their incomes decline. The findings report
concludes that collaboration between the government, civil society, and the private sector results in a balanced economy. Implementing equalizing policies that create stable jobs is an important factor in ending poverty. The report found that an economy that is embedded in equality is an efficient economy. Eradicating poverty won’t be possible without tackling inequality, something economic developers play a key part in as they
create jobs and economic opportunity for all in their communities.
Census 2016 Release
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Out & AboutFebruaryBrock Dickinson will be leading the University of Waterloo’s Year One course
in Kenora, ON, from February 28th to 30th. MarchBrock Dickinson will be speaking on the role of incubators in supporting entrepreneurship, innovation and business start-ups at a University of Waterloo seminar on Fostering Innovation
in Kitchener, ON, on March 10th. Brock Dickinson will be speaking at and coordinating the University of Waterloo Economic Diversification: Strategies for Revitalizing Local Economies seminar in Banff, AB, from March 20th to 22nd. Harry Shnider will be attending the Economic Developers Alberta (EDA) 2017 Conference
taking place in Banff, AB, from March 21st to 24th. Trudy Parsons will be attending the National Association of Workforce Boards Forum 2017
taking place in Washington, D.C., from March 25th to 28th. JunePaul Blais is speaking on “Strategic Planning for today’s BRE” at the upcoming BREI – Business Retention Expansion International Conference taking place in Edmonton, AB, from June 19th to 23rd.
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