The Latest

Certain partisans have been citing Canada's performance on per capita GDP as evidence of a supposed 'lost decade' and economic mismanagement. In Policy Options, economist and director of the Centre for Future Work Jim Stanford deconstructs this arbitrary and misleading statistic. In the first of a two-part analysis, he explains multiple factors affecting both the numerator and denominator in this headline-grabbing number and how recent trends in GDP per capita say more about rapid immigration than about Canada’s overall economic health.

Some business and political commentators cite a growing gap between the per capita GDP of Canada and the U.S. as evidence of Canada’s purported economic dysfunction. In Policy Options, economist and director of the Centre for Future Work Jim Stanford deconstructs this arbitrary and misleading statistic. In the second of a two-part analysis, he explains how Canada is not poorer than Alabama and how, despite lower economic growth per person, most Canadians earn more, live longer and fare better than Americans.

Many Canadian businesses and workers are facing looming furloughs and layoffs. As CEO of Challenge Factory Lisa Taylor argues, these workforce disruptions should be seen as an opportunity to invest in our workers, in our businesses and industries and in the future we want for our families and communities. We must evolve government programs to incentivize businesses to train and upskill workers to meet new market demands and execute on new strategies, rather than lay those employees off. Recovery from workforce shocks is possible with creative ways to reinvent and transform.

While Canada’s policymakers try to figure out how to make the Canadian economy less vulnerable to Trump’s whims, many Canadian businesses are going to look like a good deal for American investors. A weak Canadian dollar, low interest rates and expected liquidity challenges create the conditions for an acceleration of private equity-led buyouts of Canadian firms. In ImpactAlpha, SCP's CEO Matthew Mendelsohn explains how, as Canada faces Trump’s mercurial and predatory approach to trade and economic policy, employee ownership can offer much-needed stability and resilience.

The United States’ unprecedented economic assault has brought Canada’s many pressing challenges, both internal and geopolitical, into sharp relief. On April 24, SCP CEO Matthew Mendelsohn joins a panel of experts for a discussion on accelerating investment at Growth Summit 2025. This year's PPF event will focus on how to urgently unlock Canada’s economic growth potential to safeguard our country’s global competitiveness—and our own standard of living.

Social Capital Partners and other funders announce a new, non-partisan, nonprofit Canadian organization to lead an informed national conversation on the links between taxation, economic fairness and a thriving democracy. The Canadian Tax Observatory is seeking a visionary leader who can shape and grow a permanent, influential Canadian institution connected to global networks identifying better, more effective ways to achieve tax fairness.

Canada’s pension funds need to step up and help the Canadian economy pivot. They can do so in keeping with their fiduciary duty to their contributors, but in a way that builds long-term economic resilience. SCP's Matthew Mendelsohn and Michelle Arnold argue that defenders of the status quo are mistaken in their analysis, and that the federal government can use its fiscal power in targeted ways to get more capital into the hands of Canadian businesses and communities.

What kind of economy do we want for Canada—one that prioritizes growth and productivity, at any cost? Or one that focuses on greater shared prosperity? Watch the April 5th recording of SCP CEO Matthew Mendelsohn and an expert panel discussing "New Ideas for a Democratic Economy" at DemocracyXchange 2025.

For small businesses across Canada, a lack of commercial tenancy protections means unexpected rent increases, undue financial distress and even threat of closure. As SCP Fellow Liliana Locke argues, there are jurisdictions that have solved for commercial rent hikes that we can learn from in this moment. Smart policy in the commercial rent market would provide Canada’s small businesses the vital stability they need to sustain and grow their businesses through these turbulent economic times.

Sabrina Maddeaux and Michael Moffatt explore how the inability to afford housing not only affects individuals but also poses systemic risks to the Canadian economy and society. They delve into the implications of economic vulnerability, the talent exodus to the U.S. and the growing disconnection among younger generations, emphasizing the urgent need for a cohesive housing policy that addresses these interconnected issues to ensure a stable and resilient future for Canada.

In this election, Canadians are looking for a leader who will stand up to economic threats from our mercurial and adversarial neighbour. But how, Matthew Mendelsohn asks, will the ideas on offer help workers, regular people, not-for-profits and smaller and medium-sized businesses transition to the emerging new world order? Yes, Canada needs economic growth, but it needs to be the kind that enriches working Canadians, not just not just large financial and corporate interests.

A combination of rising U.S. tariffs, a weakening Canadian dollar and a generation of business owners nearing retirement has created the perfect storm for a wave of foreign takeovers. SCP's Michelle Arnold, Futurpreneur's Karen Greve Young and Venture for Canada's Scott Stirrett on how a few targeted policy changes could enable aspiring entrepreneurs to buy existing businesses, keeping jobs and ownership local while injecting fresh energy into our Canadian economy.

From fighter jets to TikTok, nothing is off the table when Canadians talk about how best to counter Trump's economic assault on Canada. SCP brings you some creative, crowdsourced policy ideas gathered by our Chair Jon Shell on a recent LinkedIn post. More evidence that new voices entering the policy discussion will help us get through the current crisis and emerge in a more hopeful place.

With Canada’s sovereignty at stake, we must invest in every approach to keeping Canadian businesses in Canadian hands. If we match the U.K.'s success in incentivizing employee-ownership conversion, we would see 300 Canadian companies sold to their workers each year. SCP Chair Jon Shell and Employee Ownership Canada CEO Michael Ras explain how very few policies promise as powerful an outcome.

For Canada to build a more resilient economy, we must secure local assets, democratize the economy and ensure wealth circulates within communities rather than being extracted by distant, corporate interests. In The Conversation, SCP Fellow Audrey Jamal and Heather M. Hachigian write that a promising solution lies in community wealth building.

Today, Canada’s main streets are more likely to feature American chains and less likely to be locally owned. We already face economic assault from the south—SCP's CEO Matthew Mendelsohn and Fellow Rachel Wasserman on why we cannot accept unchecked serial acquisitions as a tactic in this economic war against us and what we can do about it.

If Canada were to build a civil defence program on the scale of those in Sweden or Finland, the numbers would be game-changing. As MASS LBP principal Peter MacLeod lays out in The Tyee, Canadians must be prepared to defend our sovereignty and citizens have roles to play.

Despite the fact that governments, business leaders, workers and Canadians all say they want to be less economically vulnerable, there is a real risk that, two years from now, even more of our businesses and assets will be owned by U.S. investors. SCP's CEO Matthew Mendelsohn and Chair Jon Shell propose four ideas to prevent American finance from gobbling up the Canadian economy.

Trump’s tariff threats have opened the door for economic thinking that pushes Canada way past business as usual. In Policy Options, Executive Director of the Canadian Anti-Monopoly Project Keldon Bester argues that, from airlines to banks, fixing Canada’s competition problem starts with smarter domestic reforms.

Canada’s value proposition aligns with the values most Canadians hold, even if we execute on them imperfectly: diversity, inclusion, freedom, equality, democracy, respect and reconciliation. SCP's CEO, Matthew Mendelsohn, on why he would rather invest in a country that strives to uphold those values and build an inclusive, democratic capitalist system than invest in the uncertain, volatile mess that is the United States right now.

Foundations in Canada, both private and community, hold hundreds of billions of dollars in their endowments. Our CEO, Matthew Mendelsohn, lays out how endowments held by our universities, colleges, hospitals and other public-purpose institutions, including our philanthropic foundations and those who manage our donor advised funds, need to reorient their investment practices to meet this moment.

Under economic threat from the Trump administration, Social Capital Partners launches a Special Series of policy ideas that support Canadian economic sovereignty, advance ownership for Canadians and reduce dependence on the U.S. Our CEO, Matthew Mendelsohn, explains how we need to seize this opportunity to advance the interests of workers, small businesses, the economically vulnerable and young Canadians who have known for a long time that our economy is not working well for them.

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.

In the face of Trump's economic assault, Canada's local businesses and leaders must manage uncertainty and maintain and strengthen community resilience. How will tariffs impact small businesses, supply chains and local economies? Tune in from 12:00 - 1:00 p.m. on February 14 to hear our CEO Matthew Mendelsohn and an expert panel discuss practical, community-driven solutions to bolster local economies in the face of global shifts.

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.

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. The submission details the risks associated with buyout private-equity funds and the harms they can cause to communities and our broader economy.

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.

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.

Living next to a superpower run by oligarchs is not where we expected to be 20 years ago, says Matthew Mendelsohn. But it’s where we are. Pretending otherwise doesn’t serve our interests. Canada is big enough, powerful enough, smart enough and rich enough to build a stronger, more independent economy if we start now.

SCP Chair Jon Shell sits down with Andy Farquharson on The Alternative Exit Podcast to explore the transformative potential of employee ownership. Jon recounts how he advocated for Employee Ownership Trusts (EOTs) in Canada to address wealth inequality and business succession. He talks advantages of EOTs, from preserving a company’s legacy to fostering economic resilience in the workforce and reshaping both business culture and wealth distribution.

Advisory Board members will advise on SCP’s strategy and agenda, drawing on decades of experience across finance, business, government, public policy, communications, civil society and community economic development.

Rising rents are pushing mom-and-pop shops off Canada's streets. In Canadian Business, Aaron Binder and SCP Fellow Liliana Locke (née Camacho) from the Better Way Alliance argue new commercial tenant protections are the answer.

There are lots of real, tangible public-policy solutions to the problems we face, says Matthew Mendelsohn. It begins with talking about the economy in a different way, grounded firmly in the public interest and data that reflect the reality of how people experience their economic lives.

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.

In industries from dentistry to aircraft manufacturing, private equity (PE) is everywhere—some of it intent on rejuvenating flailing businesses, and some of it poised to extract maximum profit at any cost. To demystify this financial tool, CAMP and SCP hosted an expert panel of informed insiders and prominent American critics who have been on the frontlines of fighting PE’s worst excesses.

Crowe Soberman Audit and Advisory Partner Chandor Gauthier sits down with Jon Shell, Chair of Social Capital Partners and Board Member at Employee Ownership Canada. They dive into the benefits of Employee Ownership Trusts and get into the nitty gritty of how EOTs can support smooth business succession, boost equity and retention and safeguard business legacies.

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.

Is alternative ownership the future of business in Canada? Shane Gibson from Future of Good reports on how converting to a non-profit, establishing an Employee Ownership Trust, or becoming a co-operative can help a small business become more sustainable, ensure job security and retain wealth within the community.

SCP Chair Jon Shell in the Toronto Sun on what Employee Ownership Trusts mean for business owners, the community and the broader economy

Social Capital Partners’ CEO, Matthew Mendelsohn, joins Member of Parliament for Beaches-East York, Nate Erksin-Smith, on his podcase “Uncommons”. Matthew and Nate talk about wealth concentration and its threat to democratic stability. They also discuss practical solutions to address wealth inequality, lack of trust in democratic institutions, the role of the federal public service and the need for a competent and responsive government.

When outside interests take over a small or medium business, it's often purchased then closed, leaving holes in the community. Future of Good reports on how new laws could encourage more retiring business owners to sell to their employees through Employee Ownership Trusts. EOTs help businesses stay local and contribute to employee retention and financial wealth.

Mark Carney made a speech last week and many people had plenty to say about it. But one of his replies during the Q & A deserves more attention than it received. MP Nate Erskine-Smith asked Carney what he would do about Canada’s growing wealth inequality. Carney’s answer was a bit unfocused, but he made two points clearly: 1) Let’s hope wealthy people give more to charity, and 2) We shouldn’t only focus on redistribution.

A helpful summary of Employee Ownership Trusts that gives Canadian business owners and their advisors a simple (albeit not short) explanation about what they are, and why they should care.

Bringing EOTs to Canada has been a labour of love for a lot of people over the last few years. We’re deeply grateful to the government for establishing the policies we need for employee ownership to flourish here. Now that it’s real we can’t wait to see the community pick the idea up and run with it.

After four years of research, engagement and advocacy, the federal government has finalized the legislative and tax structure for Employee Ownership Trusts (EOTs). Social Capital Partners and the Canadian Employee Ownership Coalition are grateful for the government's careful work to make EOTs an attractive option for business owners.

Statistics Canada's official wealth survey significantly underestimates wealth inequality. Canada’s wealth concentration is not as extreme as in the United States, but closer than official data suggest. This misleading portrait undermines Canadians’ ability to have an evidence-informed conversation about how to address growing wealth concentration and the threats it represents for economic resilience and democratic stability.

Social Capital Partners has a long history of investing in people and projects that create more economic opportunity in Canada. Recently, our focus has been on establishing more avenues for working Canadians to build wealth through ownership. Learn more about what we are moving towards.

Social Capital Partners' Chair, Jon Shell, sets the record straight on the capital gains changes in the 2024 Federal Budget.

In the US and the UK, employee-owned companies grow faster, pay better, are less prone to lay-offs or bankruptcies in economic downturns, and are more likely to keep jobs in local economies. Due to supportive public policy, EOTs are a popular structure for business succession in those countries and have generated significant wealth for front-line employees. Canada does not have a business structure comparable to the employee ownership trust (EOT).

Social Capital Partner's Director of Policy Dan Skilleter summarizes the key findings of his recent report "Billionaire Blindspot" in a Toronto Star Opinion piece.

This new report critically analyzes Canada’s flagship wealth survey, the Survey of Financial Security (SFS), and outlines how its methodological shortcomings lead to significant underreporting of wealth inequality.

Social Capital Partner’s Director of Policy, Dan Skilleter, sits down with Steve Paikin on The Agenda to discuss his recent report “Billionaire Blindspot”. This segment digs into how Canada’s official statistics severely underestimate how rich the richest Canadians are and includes steps that can be taken to correct this misrepresentation.

Social Capital Partners' CEO, Matthew Mendelsohn, reflects on the Bank of Canada's productivity speech and calls for need of fresh ideas, voices and questions.

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.

Social Capital Partners announces the appointment of Matthew Mendelsohn as its new CEO, effective January 2, 2024. Jon Shell, SCP’s current Managing Director will become SCP’s Chair.

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.

Search funds allow entrepreneurs without capital to buy small businesses. However, only an exclusive club can access the financing to do so and are often forced to re-sell their businesses. We’ve put a twist on the search-fund model to make it more inclusive and long-term.

New research continues to demonstrate that employee ownership fosters economic resilience. As in previous economic crises, employee-owned companies were better at retaining employees and at maintaining hours and salaries throughout the pandemic. In a post-pandemic economic environment, the demonstrated benefits of increased employee retention and alignment by employee-owned companies will be even more important to support economic growth.

In a transaction that would be impossible for a Canadian company, the owners of North America's largest builder of acoustic guitars secure a sustainable future for their company and its employees.

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.

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 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.

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 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.

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 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 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.

What are boards, investors and management teams to do when there is tension between the financial and social bottom lines of social enterprises? Social Capital Partners shares learnings gleaned from seven years of investing in employment-based social enterprises. We identify the five most important factors that determine whether a social enterprise will be profitable or require some form of subsidy.

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.

What are reasonable profitability targets for a social enterprise start-up with a mission to create employment for disadvantaged populations? How does external financing play a role in the execution of the social mission and how does a social mission as a key part of the business model impact the ability to reach profitability targets? SCP showcases one of our early investments and highlights key learnings about the inherent mission tensions in these business models.

SCP reports on six years of TurnAround Couriers, a social-purpose business dedicated to helping at-risk youth in the Greater Toronto Area overcome social and economic obstacles by providing them with a chance to get ahead.