Canada’s Economic Development for Québec Regions (CED) has made a new initiative to support the growth of small businesses in the province. The organization’s contribution of $350,000 from the CED to the custom furniture company, Maille Atelier Collaboratif is set to boost the business across Québec regions and the country.
The monetary contribution to Maille Atelier will allow the company to begin making necessary design improvements to its facility, including expanding the manufacturing site and investing in new technologies, software, and machinery for its product manufacturing.
“Ensuring the prosperity of our communities will always be one of our government’s priorities. SMEs are central to our economic recovery plan, which is why CED supports them in their efforts to increase their productivity,” explained Pascale St-Onge, Minister of Sport and member of Parliament for Brome-Missisquoi. “Maille atelier collaboratif is making a significant contribution to the economic vitality of the Gaspésie region by creating sustainable projects and products in collaboration with local artisans. The success of their project will foster their growth and will definitely have a positive impact on the economic development of our beautiful region.”
How Funding Will Support the Cabinet Business
Maille Atelier is an SME in New Richmond, Québec, that specializes in manufacturing and installing customized furniture for commercial, institutional, and residential projects. Primarily serving the Gaspésie region, the company is a young but thriving business and its sales have been ascending steadily for a few years. In fact, the sales have boosted so much that Maille Atelier’s current facilities cannot meet the demand. Expansion of the facilities, new equipment and technologies from the funding will allow the business to increase production capacity and further growth.
“Given the soaring interest rates and construction costs, CED’s financial assistance has been a key factor in the feasibility of our large–scale investment. CED’s support for our expansion and equipment modernization project is a strong vote of confidence in us that motivates us to continue participating in the economic development of our beautiful region,” said Laura-Anne Lamarche, president and CEO of Maille Atelier.
In Québec alone, SMEs account for approximately 99.7% of the region’s businesses and 50% of its economy. Last year, the Government of Canada invested in the growth of seven businesses in the province to promote their innovation, enhance production and implement new marketing strategies.