Local independent businesses are important to community economies. Right now, they are under threat.
Canada should not accept that a few larger players will drive up prices and extract wealth from local communities. Entrepreneurs need conditions that allow them to start a business or enter a market and have a realistic chance at success.
Our economy is being remade every day by practices that are consolidating industries and creating barriers for new entrepreneurs. Big firms and financial interests are using their position of dominance to crush smaller businesses and concentrate wealth and ownership in fewer hands.
Smaller businesses, particularly those in smaller towns and cities, are often the lifeblood of the community. Main streets are home to vet offices, daycares, shops, pharmacies and dental clinics. Continued consolidation of these businesses, often through global private equity firms, is bad for workers, communities and our economy.
Independent businesses build economic resilience and social capital. At SCP, we advocate for policies that support independent businesses and dreams of entrepreneurship.
On this topic
Feb. 25 Webinar | What about cities? Building economic resilience amidst a new Canada-U.S. order
Join moderator Shauna Sylvester for an Urban Climate Leadership online webinar featuring Mary Rowe, CEO of Canadian Urban Institute, Mairin Loewen, Assoc. Program Director at UCL and Matthew Mendelsohn, CEO at Social Capital Partners, in discussion on the impact of U.S. tariffs on Canadian cities. February 25, 2025 from 1:00 - 2:00 p.m. ET.
The strength within: Some economists say we can’t count on fair and open trade with the U.S. anymore. Is it time for Canada to look inward instead? | Toronto Star
When U.S. President Donald Trump threatened to launch a full-blown trade war with its closest ally, many Canadians felt as if their best friend had suddenly turned around and stabbed them in the back. The Star spoke with economists, academics and other experts, including SCP CEO Matthew Mendelsohn, about how the country should best navigate this new era of Trump's isolationism, and found there are realistic steps we can take to reduce our dependence on the States.
Joint submission to the Ontario Securities Commission regarding a proposal to expand retail investor access to private equity
CAMP and SCP made a joint submission to the Ontario Securities Commission detailing deep concerns about proposals related to expanding retail investor access to private equity funds. Both organizations are focused, among other matters, on educating Canadians and our policymakers about the risks associated with buyout private-equity funds and the harms they can cause.
Three ideas to make home ownership more affordable that aren’t getting the attention they need
Canadians are more vulnerable to Trump’s economic warfare today because our housing system is in crisis and has left many Canadians without affordable places to live. Some of our own bad policy choices have put us in this position of vulnerability. We've got three housing policy ideas we want the team at Missing Middle to look into.
Inside the corporate battle over your pet’s health | The Fifth Estate
SCP Fellow Rachel Wasserman speaks with CBC's Steven D'Souza as part of an investigation into the skyrocketing cost of owning a pet. The documentary reveals how independent vet clinics are being gobbled up by multinational corporations and private equity for profit.
Why small businesses need rent control
Rising rents are pushing mom-and-pop shops off Canada's streets. In Canadian Business, Aaron Binder and SCP Fellow Liliana Camacho from the Better Way Alliance argue new commercial tenant protections are the answer.
Feedback on the Competition Bureau’s Review of the Merger Enforcement Guidelines
There is a growing recognition, both globally and within Canada, that competition is essential to fostering a strong, resilient and productive economy. Yet, despite this consensus, the Canadian economy is becoming increasingly consolidated, and entrepreneurship is in steep decline. SCP's feedback on the Competition Bureau's Review of the Merger Enforcement Guidelines outlines our concern with serial-acquisition strategies wherein large firms acquire smaller companies in ways that evade regulatory scrutiny, and shares our recommendations to address this issue.
Optimizing the impact of Canada’s Small Business Financing Program
Social Capital Partners and Venture for Canada made a joint submission to Innovation, Science, and Economic Development Canada (ISED) to amend the Canadian Small Business Financing Program (CSBFP) to make it easier for would-be entrepreneurs to purchase existing businesses. Our recommendations to encourage more Entrepreneurship through Acquisition, or ETA, could help stop the decline in entrepreneurship, protect small businesses, keep wealth in Canadian communities and unleash more local, private-sector innovation.
Consultation on the future of competition policy in Canada
Canada’s existing competition regime is unfair for small business. We surveyed over 1,000 small business owners to understand how competition policy has affected them.
A positive vision for the future of Canadian competition policy
The concentration of corporate power in Canada can be traced back to the antiquated objectives of our nation’s competition policy. Our submission to the government’s review of the Competition Act provides sharp critiques and recommendations on a path forward.
Business-in-a-box concept paper
Small, independent businesses are the backbone of our economy. Unfortunately, they’ve become harder to start and struggle to compete with large chains. We’ve been inspired by owner-owned cooperatives that help small businesses thrive.
Rate drop rebate: final evaluation report
The story of the Rate Drop Rebate pilot, including key milestones, successes, dilemmas, insights and lessons learned. The Rate Drop Rebate was a unique partnership that brought SCP together with financial institutions, publicly funded employment service providers and the Government to reduce unfair barriers to employment and help grow the province’s small and mid-sized businesses.
Ontario launches rate drop rebate in London
Ontario is launching an innovative partnership with financial institutions to help businesses in London grow and increase employment opportunities for people with disabilities and facing other barriers. Through the new Rate Drop Rebate program, small- and medium-sized businesses that hire eligible people can receive discounted rates on financial products, such as loans. The rebate is made possible through funding from Ontario's two-year, $4-million Community Loans Fund.
Ontario financial institutions and government join forces to boost local businesses and do good in communities
Rate Drop Rebate™ pilot is expected to significantly impact those facing barriers to employment include students with limited work experience, long-term unemployed, older unemployed, people with disabilities, newcomers to Canada and unemployed Indigenous persons. The program aims to generate up to 1,100 new employment opportunities.
Ontario improving employment opportunities for people facing barriers
Ontario is partnering with leading financial institutions to build on Social Capital Partners existing loan program and create a fund aimed at increasing employment opportunities for people facing employment barriers.
Partnership council on employment oportunities for people with disabilities
The Partnership Council champions the hiring of people with disabilities and provides strategic advice to the Ontario Minister of Economic Development, Employment and Infrastructure to enhance employment opportunities for Ontarians with disabilities.
Social Capital Partners and Ontario Government to begin consultations with Canadian financial institutions for a Community Loan Pilot Project
Social Capital Partners announces innovative collaboration with the Government of Ontario designed to explore a novel social finance approach that provides employment opportunities for people with disabilities and other vulnerable populations.
Social Capital Partners’ collaboration with the Ontario Ministry of Economic Development, Trade and Employment
Social Capital Partners collaborates with Ontario government’s Office of Social Enterprise to explore a pay-for-performance model that will increase access to employment opportunities for persons with disabilities, new Canadians and other traditionally disadvantaged groups.
Working together: Implementing a demand-led employment and training system
Canada’s approach to training and development needs reform. Billions of dollars are spent annually on job training and skills development, with limited evidence of lasting benefits. Most problematic, employers’ talent needs (i.e., actual skills demand) are not formally embedded in the process of determining how or where money is spent, leaving a fundamental disconnect between demand for skills and the investments being made by governments.
