1. 1
The Quebec social economy
experience

2. 2
 Chantier de l’économie sociale: networks of collective
enterprises, local and regional development
organisations and social movements to promote and
develop the social economy
 Recognition by Quebec government as a participant in
economic and social development
Le Chantier de l’économie sociale

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 Started as a work group out of the 1996 summit on
employment and economy
 Stakeholders in the social economy then decided in
1998 to make permanent the work group in charge of
promoting and developing collective entrepreneurship
 Chantier de l’économie sociale became an
independent corporation
Le Chantier de l’économie sociale

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 A general assembly and
 A board of directors of 32 members representing the
various stakeholders in the social economy.
Le Chantier de l’économie sociale

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 Board of director:
 8 Networks of social entreprises
 6 Network for territorial developpement
 5 regional hub
 6 social mouvements (2 unions, women, et autres)
 1 First nation
 2 individual (research etc.)
 4 non-voting (RISQ, Fiducie, CSMO-ÉSAC, Youth
comitee)
Le Chantier de l’économie sociale

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 New financial tools
 New enterprise models
 New institutions and networks emerge
New financial tools

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 Many institutional barriers
 Acces to capital
 Undestanding of social economy
 Commercialization strategies
 Image of the social economy
 Work on social financing and social indicators
Challenges

8. 8
Réseau d’investissement social du Québec:
A 12M$ fund
Contribution from:
 Québec governement
 Private entrprises:
 Alcan
 Groupe Jean-Coutu
 Imasco
 Caisse Desjardins
 Banque Nationale, de Montréal et Royal
A first answer

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Réseau d’investissement social du Québec:
• Technical assistance and capitalization components
 484 projects
 $11 million investment
 Creation and maintenance of more than 6,000 jobs
 Recreation and tourism, services, recovery-recycling,
solidarity commerce, culture, etc.
A quick snapshot

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 Needs for patient capital as equity
 Size of projects ever growing
 Products that complement grants and loans
Rates that take their social mission into account
Capital that remains in the business
 Private and institutional investors
An appropriate balance between risk and
performance
A vehicle to receive their investment
New Challenges

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CES Trust
Contribution from:
 Development Agency of Canada for the Regions of
Quebec : 22.8 M$
 Fonds de solidarité FTQ: 12,0 M$
 Fondaction CSN: 8,0 M$
 Québec governement: 10,0 M$
Total : 52,8 M$
Fiducie de Chantier de l’économie sociale

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Operations Patient Capital
Real Estate Patient Capital:
Fiducie de Chantier de l’économie sociale

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29M$ invested in 119 projects
32% in operating patient capital
39% Real estate patient capital
29% mix of both
Fiducie de Chantier de l’économie sociale

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 Need for community Housing
 Response against « social bonds »
 Response to the diminution of gouvernement
program
 Beeing a actor in financing
Housing Challenges

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With the actors of community Housing
In adition to governement program
Projet pilote de 1 200 unités sur 3 ans:
 2013: 200 unités
 2014: 500 unités
 2015: 500 unités
31,5M$
A limited partnership fund

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