Community Futures is a community-based economic renewal initiative, established by the Federal Government in 1985. Our main objectives are to help rural Canadians start or expand a business and to help sustain and improve communities and their local economies. Since 1985, CFs have collectively assisted more than 119,800 entrepreneurs, influenced over 495,800 jobs and injected in excess of $4.2 billion directly into the rural Canadian economy. Each of Community Futures' 269 offices are led by a local board of directors who volunteer their time, knowledge, and passion to guide a team of professional staff in providing a wide array of business and community economic development services.
Locally, Community Futures Fraser Fort George serves the communities of MacKenzie, Prince George, McBride, Valemount and surrounding rural areas. In 2014-2015 fiscal year, we approved approximately $1.7 million dollars in financing to small businesses across the region, representing 35 new or expanded businesses and over 152 jobs (full and part-time) being created or maintained. Since 1994, Community Futures Fraser Fort George has loaned over $25 million to small businesses across our region. Community Futures' loan funds help support small businesses in our region when traditional lenders are unable to.
Community Futures-assisted firms outperformed a comparable group of non-assisted firms in terms of employment growth, survival rate and revenue growth. Between 2005 and 2010, Community Futures-assisted firms had an average employment growth rate of 9.5% compared to 4.2% for non-assisted firms. Community Futures-assisted firms had a survival rate of 76% five years after start-up compared to 60% for non-assisted firms, as well as a revenue growth rate of 13.8 % compared to 6.1% for non-assisted firms.