Raising money to fund businesses in communities can be a challenge for enterprising Nova Scotians. In Nova Scotia, we invest more than $600 million in Registered Retirement Savings Plans (RRSPs) every year, yet less than two percent of that finds its way back into the Nova Scotia economy.

There are lots of small business people in Nova Scotia that have good ideas, good potential and would like to expand but that have difficulty accessing the money they need to grow their business. As well, there are lots of Nova Scotians with great ideas for business, but don't have the financial resources to get them started. But now that's changing.

Thanks to an new initiative by the Province of Nova Scotia, Nova Scotians are able to invest their hard-earned dollars into their own communities through Community Economic Development Investment Funds (CEDIFs). Investors receive a 30 % equity tax credit, their investment qualifies for self directed RRSPs, and they may also be able to obtain a partial guarantee (20%) of their investment by the Province.

Communities are already benefitting from this program. See below for more information!

For information on creating a CED Investment Fund, visit
http://www.gov.ns.ca/econ/cedif/

or contact Chris Payne at paynecj@gov.ns.ca.