How tax credits and social finance are building a healthy future for Nova Scotians

From Diane Berard / Future of Good: Novia Scotia, Canada, created community economic development investment funds with a 35% tax credit to investors to help small businesses that need capital but don’t qualify for bank loans. The cooperative FarmWorks brings together investors and farmers using this funding method to provide loans that will directly support the local food network.

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Issue Areas:

Food and Agriculture, Sustainable Development, Sustainable Farming, Wellbeing Economics

Impact Areas:

Environmental Sustainability, Equity, Health and Wellness

Actors:

Government, Lending, Banking, and Financial Institutions

Communities Served:

Farmers

Strategies:

Easing Economic Burdens for Individuals, Trust in Institutions

Success Factors:

Building Trust, Collective Action, Community Control and Ownership, Cultivating Collaborations, Eliminating Barriers, Empowering People, Expanding Access, Using Creative Financing

Geographic Region:

North America

Countries:

Canada

Date:

June 24, 2023

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