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Man with cowboy hat walks down main street in Calgary, Alberta

A ‘silver tsunami’ of business exits is coming—here’s how to keep them Canadian

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.

File photo by Saab Gripen of Sweden of F-35 painted with Canadian flag

Policy ideas that meet this moment can come from anywhere—even LinkedIn

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.

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How employee ownership can help secure Canadian sovereignty

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.

Banff Alberta main street with flowers trees small businesses and mountains in back

Canada’s economic vulnerabilities show why it must invest in the wealth of local communities

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.

Busy intersection in downtown Toronto with street signs and a gas station

The hidden takeover of our economy—and 5 things we can do about it

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.

Civil Defence Canada helmet

Canada needs a new civil defence corps | The Tyee

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.

heavy machinery in use on construction site in Ottawa

Four ways to keep Canadian businesses in Canadian hands

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.

Air Canada airplane on runway loading up

Trump’s tariff threats expose Canada’s internal monopoly problem | Policy Options

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.

Skyline Montreal downtown

Canada is a way better bet than the United States right now

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.

Red and white brick building in downtown Vancouver with Canadian flag

Canadian foundations must invest more in Canada and invest for local impact

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.

The answer to economic threats: Always Canada. Never 51.

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.

City scape with text overlay that reads: What about cities? Building economic resilience amidst a Canada-US order.

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.

City Talk Panel When Global Hits Local

Feb. 14 Webinar | When Global Hits Local

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.

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

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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.

Elastics around a roll of US dollar bills

Concepts of a plan to confront the new United States

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.

The Alternative Exit podcast: Championing Employee Ownership Trusts to revolutionize wealth distribution

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.

Welcome SCP Advisory Board

Social Capital Partners appoints slate of new advisors

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.

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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 Locke (née Camacho) from the Better Way Alliance argue new commercial tenant protections are the answer.

A message from Social Capital Partners: We’re going to tell you the truth

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.

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.

Understanding private equity

CAMP x SCP virtual talk – understanding private equity

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.

Overheard at Crowe Soberman: The EOT advantage

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.

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.

Woman turns dial on a piece of equipment at an agricultural co-operative

At the corner of Main Street and Purpose: Rethinking small businesses by rethinking who owns them

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.

Employee ownership trusts explainer | Toronto Sun

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

Uncommons Podcast: Wealth inequality and inclusive growth with Matthew Mendelsohn

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.

Man with vest and toque stands in aisle of warehouse shelving

Employee Ownership Trusts make it easier for Canadian businesses to share wealth with employees

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 and the Canadian business elite need to think more about growing wealth inequality that is destabilizing democracies around the world

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.

Employee ownership trusts: What they mean for Canadian business owners

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.

Employee ownership trusts FAQs

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.

Budget 2024 unleashes unprecedented opportunities for employee ownership in Canada

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.

billionaire blindspot report

Billionaire Blindspot: How official data understates the severity of Canadian wealth inequality

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.

Preparing for SCP’s next strategic phase

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.

Getting the facts straight on the changes to capital gains tax in budget 2024

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

Unlocking the potential of employee ownership in Canada

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).

Canada is bad at studying wealth inequality and we explain why that matters

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.

Social Capital Partners releases new report on wealth inequality in Canada – concludes that official statistics significantly underestimate the problem

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, on The Agenda with Steve Paikin

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.

Bank of Canada’s unproductive productivity speech

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.

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.

Social Capital Partners appoints Matthew Mendelsohn as new CEO

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.

SCP_A-positive-vision-for-the-future-of-Canadian-competition-policy-cover

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.

Inclusive search fund concept paper

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.

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Building an employee ownership economy

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.

Taylor Guitars’ transitions to 100% employee ownership with support from the Healthcare of Ontario Pension Plan (HOOPP) and Social Capital Partners (SCP)

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.

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.

Office with staff looking at a computer.

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.

Employees at a coffee shop

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.

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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.

The five critical factors of social enterprise profitability

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.

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.

A Fine Balance: What Inner City Renovations taught us about managing social and economic objectives inside business models

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.

Social return on investment report: TurnAround Couriers

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.

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