VENTURE FORMATION Community-Owned Venture Development（一）.pdfVIP

Tools Techniques VENTURE FORMATION Community-Owned Venture Development Description As an alternative to a program solely fostering traditional privately-owned local businesses, the CEDO may decide to create its own ventures. The CEDO becomes the entrepreneur and, like any entrepreneur, goes through the entire process of launching a business. Here is meant a business wholly-owned by the CEDO, in contrast to a CEDO joint venture with a partner (see Joint Venture ) or a venture for which all initial shares are sold off to community residents. As has been mentioned in the discussion of various services for business development, CEDOs involved in creating their own businesses need to go through the same processes of venture development as any entrepreneur. Perhaps the best known instances of this sort of CED initiative are the ventures started by the Human Resources Development Association (HRDA) in Halifax, Nova Scotia. This organization originally found its capital in grants from the municipal welfare department which provided funds on condition that social assistance recipients were hired as workers in the ventures. This innovative financing was a key capital ingredient, but the businesses otherwise are outstanding cases of CEDO-originated and –owned ventures. More than 15 business have been started over the years since HRDA was founded in 1978. Not all have succeeded. Some were simply closed as losing too much money; others were sold off as unlikely to grow sufficiently. But over-all profitability has been enough to s