Organizational Information:

Westcoast Community Enterprises, a Division of The Centre for Community Enterprise Inc. has been working to create healthier community economies since 1977. In collaboration with the Government of Canada, Westcoast has helped over 1000 enterprising people launch their own business. Westcoast provides a 48 week program designed to assist the client to develop and complete a Business Plan and start a business.

Program Description

The Enterprising Women Asset Development Program provided thirty women in the DTES with the opportunity to reflect on and build financial, personal and social assets, and develop the confidence, knowledge and skills to continue to do so far beyond the life of the project. These thirty women opened an "Individual Development Account", essentially a savings account, in their own names at a supportive local financial institution. They made regular contributions between $10 and $30 per month to the account for one year. At the end of the savings period(max. $360 saved), donor funds were used to match the women's savings at a ratio of 3:1 ($1080 match funds for a total of $1440). These matched savings were available for use towards the purchase of an asset that will assist them to take their next step towards economic self sufficiency such as the purchase of vocational training, a computer, micro enterprise expenses etc. The project involved the formation of peer support groups within which a series of popular education style workshops provided opportunities for personal reflection, sharing and financial management skill building. The program completed in September of 2005.

Target Participants

The participants were women in East Vancouver living at or below a poverty level income with few savings or significant assets. Of particular focus were women who were engaged in employment planning, job training, currently on social assistance or employed in a social venture or low wage job.

Program Contact Information
The program completed in September of 2005

Melanie Buffel, Project Coordinator
604-764-1774
melanie@bcassetbuilding.ca

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