Long-term growth of SMEs, the driving force of our future
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Having companies that stay in Québec is good for the economy, we create job, Novatech exports a lot."
— Harold, Novatech, a partner company
Why it's important to us
A more prosperous, just and sustainable Québec starts with long-term growth for our SMEs.
A dynamic economy, regional vitality and job security depend on it. This ever-present challenge has been central to the Fond’s mission since its very beginning. And with your savings choices and entrepreneurial success we can achieve it.
There are over 220,000 private companies in Québec — almost all of them SMEs — that drive our economy, and we’ve built a number of flagship companies that we can be proud of. At the Fonds, we want to help today’s businesses grow and thrive in a world of ever-increasing challenges. As our population ages, the long-term prosperity of businesses that form the backbone of our regions becomes even more important. That’s why we need to move from an economy based on business creation to one based on the continuity of existing businesses.
Statistics show that we need to stimulate the growth of our SMEs and encourage business succession.
Our approach
We’re committed to doing everything we can to keep local businesses in Québec. To do this, we’re taking concrete steps to promote the long-term growth of SMEs in every region of the province. We’re supporting, financing and preparing them to meet the socio-economic challenges of an ever-changing world so they can continue to build the Québec of today and tomorrow. A more prosperous, just and sustainable Québec for all.
Here’s what we’ve done this year:
Supporting sustainable local business growth
We don’t just believe in building a stronger Québec, we believe in building it with you. With the savings of our workers and the ambition of our local entrepreneurs, we can strengthen our economy. That’s why the Fonds invests in local businesses. And that’s why we’ve become Québec’s largest development capital investment network.
Our teams work with companies of all sizes to support their long-term growth, no matter their challenges. With our extensive network, we can invest in both start-up and expansion projects. Our goal is always to find solutions that benefit both businesses and Québec as a whole.
Discover the impact we’ve made this year.
Supporting the expansion of innovative businesses
$1.4B
of investment volume in the Québec economy by the Fonds and its network[4]
Services
When you partner with the Fonds, you benefit from our multidisciplinary expertise and long-term support. And you gain an ally who believes in you and your project.
Discover all the advantages of choosing us.
Oatbox: Growing by feeding more people
Montréal
Founded in Montréal in 2014, Oatbox has long wanted to shake up the breakfast industry. It has since redefined its business model to make oats and sustainable food its raison d’être. Today, Oatbox wants to become the world leader in this flagship ingredient. Learn about their plan to do it.
Supporting our companies at every stage of their growth
87
87 coaching sessions with 62 companies by our Asthuce Group in the past year[4]
334
334 coaching sessions with 162 companies since the Asthuce Group was created in 2020[4]
Every action counts when it comes to sustainable growth.
Companies need to ask the right questions and find the best solutions for them and their communities. Learn how integrating ESG factors can benefit everyone.
Sustainable growth also means implementing or restructuring a solid corporate governance structure to keep a company focused on its objectives and values.
Here are some basic principles of successful governance.
Ed Brunet: Building a Québec legacy from one generation to the next
Gatineau
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Every day, I walk past projects that my great- grandfather built and one day, I hope that my grandchildren will walk past projects that I’ve built. But to do that, I also need to think about the planet that I’m going to leave them in."
— Sébastien Brunet
President
Ed Brunet & Associates
A family legacy of entrepreneurship
Sébastien Brunet fulfilled one of his dreams by becoming the fifth president of the Gatineau-based construction company founded by his great-great-great-grandfather, Edouard Brunet, in the late 1800s. He bought the company from his parents (the fourth generation of shareholders) in 2024 along with his sister, brother-in-law and a long-time colleague. And since all the buyers had very different backgrounds and aspirations, the first question quickly became clear: who was going to do what? The answer, however, wasn’t quite so obvious. Especially when family goes into business together.
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I can always start another company, but I can’t start another family. That’s why it was so important for me to get help to prepare for the next steps." Ed Brunet found that help at the Fonds.
A governance framework that can stand the test of time
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An entrepreneur might go through two business transfers in their career. We’re far from specialists. That’s why we asked the Fonds for help."
In concrete terms, the Fonds supported the fourth and fifth generations of shareholders by acting as a mediator. The goal? To create an environment where people take the time to ask themselves the right questions.
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The Fonds helped us address what we didn’t dare say to one other, to rethink our organizational structure to make it more official, and to define each of our roles. All of this really facilitated the transfer."
In other words, the Fonds gave Ed Brunet the tools to turn its vision into a reality, starting with its strategic plan for the next three years.
A future built on sustainability
Sébastien Brunet’s long-term goal is to transfer a healthy company to the sixth generation of shareholders in as good, if not better, shape than it is today. But that’s not all. The company wants to continue growing by successfully expanding into new markets, such as Ontario, becoming a leader in sustainable construction and encouraging other companies to follow suit. For Sébastien Brunet, sustainable growth isn’t just about making a successful transition or standing the test of time. It’s also about developing the company (and its projects) so that it can make a real impact on society and the environment.
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We’ve been building the Outaouais for 100 years. And we want to do more than that; we want to make it thrive. That’s what we’re trying to do with our various projects and involvement."
There’s no doubt about it: Ed Brunet has had — and continues to have — a tremendous impact on the Gatineau community.
Stimulating transfer and succession with our expertise and financing
In Québec, business transfer and succession has never been more important to our economic prosperity. That’s why we’re working to keep local businesses local. We’re setting up programs, investing and reaching out both to entrepreneurs who want to pass on their business and to the men and women who want to take them over.
We’ve partnered with the École d’Entrepreneurship de Beauce to support business owners and train their successors
To address the challenges of business transfer and succession, we launched an effective new program with the École d’Entrepreneurship de Beauce (EEB) and three other partners in Quebec’s business ecosystem. Because we believe that working together ensures long-term business growth and builds a better Québec for tomorrow.
Learn more about this program to identify, train and support buyers and sellers to promote successful business transfers.
We’re behind the Mouvement Propulsion Repreneurship
Beauce
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We’ve been investing in companies for over 40 years to save jobs, keep our head offices and create a more equitable future for all Quebecers. Investing in business succession was perfectly aligned with our mission. That’s why we made it a priority."
— Philippe P. Huneault
Vice-President
Private Equity and Impact Investing, Technology and Fund Management and Chief International Business Development
Riding the wave
Québec is about to face an unprecedented wave of business sales. Over the next year, about 1,000 businesses with 50 to 500 employees will have to find an entrepreneurial succession.[5] These flagship Québec companies account for most of the province’s GDP. They employed our grandparents and parents before us. And they’ll be hiring our children tomorrow.
To address these facts and the growing interest from American investors, the Fonds teamed up with the École d’Entrepreneurship de Beauce to launch the Mouvement Propulsion Repreneurship, a training program that facilitates business transfers into Québec hands to keep our local businesses local. The program was created in collaboration with National Bank, Desjardins and the Ministère de l’Économie, de l’Innovation et de l’Énergie.
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Holding on to our businesses is critical, especially in the regions,” said Philippe Huneault, Vice-President, Private Equity and Impact Investments at the Fonds de solidarité FTQ. “When you close a factory that employs 50 people in a village, 50 families are affected. That’s huge and, at the Fonds, we feel that it’s our job to help."
Supporting the owners of today and tomorrow
Transferring a business comes with its share of challenges.
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For starters, it’s a touchy topic for entrepreneurs who are getting ready to sell their business. These people are important to their community, and all that changes overnight. And sometimes there are more generous offers from foreign companies. There’s also the lack of people wanting to take over businesses. So we’re starting with a deficit."
Enter the Mouvement Propulsion Repreneurship’s multifaceted role.
The program helps to raise sellers’ awareness of the importance of preparing to transfer their business and the advantages of selling to Québec interests. It also helps to expand the pool of potential buyers and to coach the next generation of business owners. It’s a personalized program that promotes networking between the business owners of today and tomorrow.
Taking action to better prepare for the future
The Mouvement Propulsion Repreneurship’s goal is to support 1,000 sellers and buyers over the next five years.
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We have to move beyond thinking about what needs to be done and take concrete action. We need to be on the ground and keep our eyes open for opportunities. That’s how we’re going to save our flagships."
By choosing to invest in business succession and transfer, we’re choosing to invest in our companies and in the future of all Quebecers. We’re choosing to invest in us.
Investing in business transfers to help our builders sell their flagship companies to local buyers
We offer financing to keep our local businesses local.
Novatech: Keeping a local business local
Sainte-Julie
Novatech has been manufacturing windows and doors since 1982. On the eve of its founder’s retirement, the company could easily have chosen to sell its assets to American buyers. But that’s not what its management team and founder wanted. Learn all about this successful business transfer.
Financing for every region of Québec
Québec’s future depends on the prosperity of each of its 17 regions. The entire Fonds team— including those from our Fonds régionaux de solidarité (regional solidarity funds) and the Fonds locaux de solidarité (local solidarity funds)— offers unique financing solutions tailored to your business reality, all across the province. Wherever you are, we’re there with you.
Our regional teams understand the challenges in their area.
Each region has its own strengths and challenges. Our regional teams understand their socio-economic reality, key players and the sectors of activity that thrive there.
$221M
The Fonds régionaux de solidarité (FRS) have distributed over $221 million to 128 companies across Québec over 2023–2024.[6]
FRS results
Regional distribution of FRS investments
Region | Number | Committed |
---|---|---|
Abitibi-Témiscamingue | $8 | $10.7M |
Bas-St-Laurent | $7 | $13.9 M |
Centre-du-Québec | $4 | $8.4M |
Chaudière-Appalaches | $15 | $21.6M |
Côte-Nord | $2 | $1.0M |
Estrie | $9 | $17.3M |
Gaspésie-Iles-de-la-Madeleine | $7 | $6.7M |
Lanaudière | $6 | $11.4M |
Laurentians | $10 | $15.4M |
Laval | $5 | $14.6M |
Mauricie | $2 | $3.8M |
Montérégie | $6 | $16.1M |
Montréal | $12 | $30.9M |
Nord-du-Québec | $3 | $3.7M |
Outaouais | $7 | $10.0M |
Québec City | $12 | $18.3M |
Saguenay-Lac-St-Jean | $13 | $17.5M |
Total | 128 | $221.3M |
A lever of growth for local businesses
To help local businesses grow, the Fonds locaux de solidarité (FLS) network, in partnership with the Fédération québécoise des municipalités, supports the start-up, expansion, consolidation and succession of SMEs rooted in their communities by offering them financing of up to $100,000.
Fonds Locaux de solidarité (FLS) created between January 1 and May 31, 2024
- Vallée-du-Richelieu
- Rouyn-Noranda
FSL results
Construction des Îles: Revitalizing Les Îles-de-la Madeleine’s economy
Îles-de-la-Madeleine
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In 2025, Constructions des Îles will be 40 years old. Over the years, it’s just grown and grown and grown. We want to do everything we can to make sure it lasts another 40 years, so we can continue to help our employees and the local economy grow with us."
— Jean-Samuel Bourgeois
Les Constructions des Îles
Diving into the world of entrepreneurship
Jean-Samuel Bourgeois, Marie-Pier Longuépée and Sarah Clark took over the reins of Constructions des Îles in Les Îles-de-la-Madeleine in 2022. All three knew the company like the back of their hand after spending a good part of their lives there before becoming shareholders.
Jean-Samuel grew up working alongside his father, who founded Constructions des Îles 40 years ago, under the name Les Escaliers des Îles. Marie-Pier was hired to work in accounting by her mother, herself an administrative assistant and shareholder, 10 years ago. And Sarah, a building engineer, was approached six years ago by the former owner, who was preparing his succession. Together, the three new owners form a tight-knit trio at the helm of the largest construction company in Les Îles-de-la-Madeleine. Today, it’s a big family of 65 employees working in a variety of sectors, from carpentry to glazing.
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Everyone’s very close and has a great sense of belonging to the company," Marie-Pier proudly said.
The trio may have been familiar with the company and its people, but taking over its management was quite a challenge.
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Financially speaking, buying a company like this is a big deal. We didn’t really know how we were going to go about it, and it was stressful," recalled Jean-Samuel.
The missing piece of the puzzle
After talking to friends, the three owners turned to the Fonds de solidarité FTQ for financial support. But the trio got so much more than financing: they got a real partner.
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Everything just clicked,” said Marie- Pier. “Things happen so fast sometimes that we don’t always take the time to stop, but we know that our Fonds advisor is always there if we have questions. He’s very approachable and understands our reality."
The Fonds’ support quickly proved to be the missing piece the trio needed to make their project a success. It was what they needed to wrap up their acquisition project.
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Some big companies come here to work on projects, but they bring their own people, products and everything else. They may come to do a job, but it doesn’t do much for the local economy,” explained Sarah. “We do 95% of our shopping on the islands, we hire people from the island and we know that other local businesses will buy from us if they can. We need to help each other if we want our region to stay strong."
By locals, for locals
Today, Constructions des Îles has many major projects to its credit, including a retirement home, the new Cégep de la Gaspésie et des Îles, a low-cost housing complex and renovations to the Palais de Justice. It also makes all the door thresholds sold on the islands.
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Your door probably opens inwards at your house. But not on the islands. All our doors open outwards to keep the water out."
It’s this intimate knowledge of their territory that makes Constructions des Îles a major player in the region, now and for years to come. They even produce their own line of Fenplast windows, which are more waterproof than those sold on the mainland.
What does the future hold for Constructions des Îles? Exciting projects that will continue to benefit the entire community of Les Îles-de-la-Madeleine. That’s because Construction des Îles does so much more than construct impressive buildings and manufacture sophisticated windows and doors: it’s a big family that feeds 65 others. It drives the vitality of the entire region. And it will continue to do so.
We invested in our regions to ensure their vitality
Find out how local investment is strengthening our regions.
Teams of specialists across Québec.
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1Plan québécois en entrepreneuriat, Gouvernement du Québec2Indice entrepreneurial québécois3Statistics Canada, Canadian Federation of Independent Business, Analyses by Marc Duhamel and Fonds de solidarité FTQ.4As at May 31, 2024.5Source: IQ, MEIE, Statistique Canada, Institut de la statistique du Québec, Banque du Canada, analyse Volume 10.6As of March 31, 20247As at December 31, 2023.