EAST CENTRAL — Community Futures Sagehill provided more than $925,000 in 2018 to finance new business startups.
“We've created and maintained 30 jobs,” said Susan Wehage, Sagehill’s acting chief executive officer. “We've had a really good year with our programs and servicing.”
Sagehill’s annual general meeting was held, for the first time, at the Bella Vista Inn in Humboldt June 20.
The annual report said that those assisted by Community Futures had a 68 per cent survival rate over five years, compared to 46 per cent for comparable firms.
On top of its business startup financing role, Sagehill is delivering the Indigenous business development services program, which gives Indigenous entrepreneurs one-on-one advice on how to start and sustain a business. A human resources program helps business owners, organizations and municipalities take the first steps to complete sound personnel practices.
“We've held lots of workshops throughout our region,” Wehage said.
There were four that discussed issues like cannabis in the workplace, tax issues for small business, employment standards and maintaining work-life balance.
“[We’re] trying to fill the needs for employers or small businesses throughout the year,” Wehage said.
On the financial ledger, Sagehill had around $598,000 in revenues and $487,000 in expenses in the 2018-19 fiscal year, which ended March 31, 2019. There was a surplus of $111,000, compared to around $103,000 in 2017-18.
Wehage said the revenues help with operating costs and allow them to provide additional services.
“This is additional revenue than what we get from our operating contract,” she said. “That is a goal of our board, is to continue to see revenue and earn revenue through some of our programs and services that will assist entrepreneurs and small businesses.”
