Social Enterprise through Acquisition - SETA

As the flagship pilot of the Social Innovation Lab, the Social Enterprise through Acquisition (SETA) program aims to preserve businesses in rural Newfoundland and Labrador while creating opportunities for revenue diversification in the community sector.

With an alarming 55% of small and medium-sized enterprises (SMEs) with 1-4 employees in Newfoundland and Labrador projected to exit within the next five years, SETA’s mission is clear. Through SETA, we aim to facilitate the transformation of vital local, private businesses in Newfoundland and Labrador into sustainable social purpose community organizations (SPOs) to strengthen local economies and ensure the continuity of essential community services.

Goals

  1. Support community sector organizations, also known as social purpose organizations -like non-profits and charities, acquire existing businesses to diversify revenue.

  2. Connect business owners looking to sell with buyers who will continue serving the community.

  3. And, through our partnership with the Newfoundland and Labrador Federation of Co-operatives, SETA helps existing businesses convert to a co-operative model.

Support

Funding

The SETA provides participants in the program up to $15,000 in non-repayable funding for costs related to a business purchase in rural Newfoundland and Labrador.*

  • Up to $5,000 for business valuation completed by a professional

  • Up to $5,000 for completion of a business plan completed by a professional

  • Up to $5,000 for legal costs related to an acquisition completed by a professional

*Due to the rural focus of the program, organizations acquiring a business in the Metro region are not eligible for program funding. Contact us at socialinnovationlab@cscnl.ca to learn about non-financial support for social acquisition.

How to Get Involved

If you’re interested in exploring how this initiative can benefit you as a business owner or an organization, the Expressions of Interest are open for both small business owners looking to sell and community organizations looking to buy. Together, we can shape the future of rural communities in Newfoundland and Labrador.

Submit your Expression of Interest

Submit your Expression of Interest as a Buyer

Are you looking to boost revenue or explore new sources? Considering social enterprise as part of your strategy or contemplating business acquisition? Considering a conversion to a Co-Op?

Submit your Expression of Interest from a Seller

Are you considering retiring or selling your business? Want it to remain a vital part of the community?

Discover the vibrant partnership between Community Sector Council NL and the Newfoundland and Labrador Federation of Cooperatives (NLFC), advancing the SETA project with the generous support of the Northpine Foundation.