New Brunswick stands at a crossroads. As one of only two provinces in Canada without a social enterprise strategy, and the only one lacking an established non-profit secretariat, we find ourselves at a disadvantage. The absence of these crucial frameworks has become increasingly evident over the last few months, highlighting the urgent need for New Brunswick to develop and implement a comprehensive social enterprise strategy.

Social enterprise is not just about business—it’s about using market tools to drive social impact. Shaun Loney, a renowned leader in the field, aptly describes social enterprise as the intersection where market forces meet social good. This philosophy resonates deeply with the mission of the Pond-Deshpande Centre, where we believe in transcending rigid structures to effect positive change. A provincial strategy would do more than just support existing enterprises; it would lay the foundation for a thriving ecosystem by equipping social entrepreneurs with the tools they need to succeed.

A Strong Foundation for Social Enterprise

A well-structured social enterprise strategy for New Brunswick would rest on several key pillars, each vital to fostering a robust ecosystem:

• Enterprise Skills: Equipping entrepreneurs with the necessary skills to navigate both the social and business aspects of their ventures.

• Access to Financing: Ensuring social enterprises have the financial support needed to grow and scale.

• Market Opportunities: Creating pathways for social enterprises to access and expand in the market.

• Demonstrating Value: Encouraging enterprises to effectively measure and communicate their social impact.

• Regulatory Framework: Establishing a supportive legal environment that facilitates the operation of social enterprises.

• Social Engagement: Promoting community involvement and collaboration across sectors.

These pillars align closely with the six foundational pillars identified by the Social Enterprise Council of Canada, which emphasize the importance of a cohesive strategy that integrates enterprise skills, financing, and social engagement to create a thriving social economy.

The Case for Social Enterprise in New Brunswick

But why is this strategy so critical for New Brunswick? Social enterprises are unique in their ability to generate both social and economic value. By creating jobs and revenue streams, they reinvest wealth back into our communities, diversify the economy, and reduce reliance on government assistance. They are also at the forefront of addressing societal challenges, offering innovative solutions in areas like affordable housing and community development.

Take McGraw Seafoods, an Indigenous-owned seafood facility, or Habitat for Humanity’s ReStores as examples. These social enterprises are not just businesses; they are pillars of their communities, creating local jobs, fostering economic independence, and addressing pressing social needs. Similarly, community YMCA gyms provide valuable services while reinvesting in community health and wellness.

Furthermore, social enterprises enhance community engagement and policy innovation. They empower local communities, strengthen social ties, and introduce pioneering approaches to longstanding issues. By uniting various sectors—business, government, and non-profit—a social enterprise strategy can amplify this impact, fostering a more resilient and inclusive economy in New Brunswick.

Together, we can build a thriving social enterprise sector in New Brunswick that generates meaningful social and economic impact.