POLLINATING FOOD ENTERPRISES C R E A T I V E N E W M O D E L S F - - PowerPoint PPT Presentation

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POLLINATING FOOD ENTERPRISES C R E A T I V E N E W M O D E L S F - - PowerPoint PPT Presentation

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An NGFN An NGFN Webinar binar June 18, 2015 POLLINATING FOOD ENTERPRISES C R E A T I V E N E W M O D E L S F O R S T A R T I N G , S U P P O R T I N G , A N D F I N A N C I N G L O C A L F O O D B U S I N E S S Presentation Outline

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POLLINATING FOOD ENTERPRISES

C R E A T I V E N E W M O D E L S F O R S T A R T I N G , S U P P O R T I N G , A N D F I N A N C I N G L O C A L F O O D B U S I N E S S

An NGFN An NGFN Webinar binar

June 18, 2015

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Presentation Outline

Technical Orientation 

Welcome

Jeff Farbman

Wallace Center at Winrock International

Pollinating Food Enterprises

FarmWorks

Questions and Answers

Upcoming Opportunities, etc.

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WALLACE CENTER AT WINROCK INTERNATIONAL

  • Market based solutions to a 21st Century food system
  • Work with multiple sectors – business, philanthropy,

government

  • Healthy, Green, Affordable, Fair Food
  • Scaling up Good Food
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NATIONAL GOOD FOOD NETWORK: VISION

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NATIONAL GOOD FOOD NETWORK: GOALS

Supply Meets Demand

  • There is abundant good food (healthy, green, fair and affordable) to meet

demands at the regional level.

Information Hub

  • The National Good Food Network (NGFN) is the go to place for regional

food systems stories, methods and outcomes.

Policy Change

  • Policy makers are informed by the Data and Analysis and outcomes of the

NGFN and have enacted laws or regulation which further the Network goals.

http://ngfn.org | contact@ngfn.org

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Presentation Outline

Technical Orientation

Welcome 

Pollinating Food Enterprises

Michael Shuman

Author, The Local Economy Solution

FarmWorks

Questions and Answers

Upcoming Opportunities, etc.

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Pollinating Food Enterprises

Creative New Models for Starting, Supporting, and Financing Local Food Business

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6/18/2015 8

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Why Economic Development Matters

6/18/2015 9

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“Attract & Retain”

“Incentive competition is on the rise. It is costly, generally inefficient, and often ineffective for winning regions.”

  • Ann Markusen &

Katherine Ness

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6/18/2015 11

Circus Time in Sarasota, FL

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An Alternative Approach

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6/18/2015 13

Four Alternative Rules

(1) Maximize local ownership. (2) Maximize local self-reliance. (3) Spread models of TBL success. (4) Create entrepreneurial ecosystem.

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The 6 P’s of an Entrepreneurial Ecosystem

Planning

Plug the leaks & boost the business.

People

Support entrepreneurs.

Partners

Compete through collaboration.

Purse

Harness savings locally.

Purchasing

Spearhead “Local First” campaigns.

Policymaking

Remove anti-local biases.

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Instinctive Response of Local Economy Builders

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The Better Alternative: Pollinator Businesses

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Examples of Pollinators

Planning

Plug the leaks & boost the business.

People

Support entrepreneurs.

Partners

Compete through collaboration.

Purse

Harness savings locally.

Purchasing

Spearhead “Local First” campaigns.

Policymaking

Remove anti-local biases.

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Planning Pollinators

Business Retooling

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Planning Pollinators

Placemaking

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Purchasing Pollinators

Loyalty Cards

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Purchasing Pollinators

Virtual Marketing

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Purchasing Pollinators

PikFly

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People Pollinators

Entrepreneurship Training

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People Pollinators

Youth Training

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People Pollinators

Co-Working Spaces

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People Pollinators

Acceleration

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Partnership Pollinators

Business Alliance

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Partnership Pollinators

Joint Purchasing

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Partnership Pollinators

Joint Selling

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Purse Pollinators

Local Banking

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Purse Pollinators

Local Stock

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Purse Pollinators

Local Investment Funds

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Purse Pollinators

Local Pre-Purchasing

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Policies That Support Pollinators

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Lessons in Leverage

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For More Information:

Michael H. Shuman

202-669-1220

shuman@igc.org www.michaelhshuman.com

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Presentation Outline

Technical Orientation

Welcome

Pollinating Food Enterprises 

FarmWorks

Linda Best

Founding Member, FarmWorks

Questions and Answers

Upcoming Opportunities, etc.

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Challenges

  • Over 50 years food production in NS decreased

from approximately 60% sufficiency to about 15% and exports have declined

  • Farms decreased from 12,518 to 3,905
  • Farm population decreased from 58,000 to 8,000
  • Loss of communities, food security, economy
  • 20% drop in farm and food sector employment in

past decade

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Challenges

Loss of farms and food production leads to loss of jobs, rural depopulation, loss of communities – with socioeconomic, health and environmental impacts

Socioeconomic strategies are needed to help reverse these trends

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Opportunities

About 10,000 people currently employed in farming and agrifood processing Approximately $240 million in wages All food sectors 56,000 jobs accounting for 14% of provincial employment 21% of province’s land area suitable for farming. Many opportunities to feed ourselves, create sustainable employment, rebuild communities, export when appropriate

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FarmWorks

VISION

Healthy Farms, Healthy Food

MISSION

Promote, and provide, strategic and responsible community investment in food production and distribution in order to help increase access to a sustainable local food supply for all Nova Scotians.

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FarmWorks

GOALS

Raise Community Economic Development Investment Funds (CEDIF) through public Offers Provide loans to food enterprises to help them increase sustainable production and profitability Provide mentoring by Directors, Advisors, others Promote local production generally and our clients specifically Collaborate with other funders and government and non-government organizations

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CEDIF

In 1998 NS legislated the CEDIF program to encourage residents to invest in NS businesses Sale of shares to form pool of capital to operate or invest in profit-oriented local businesses Can’t be charitable, non-taxable, or not-for-profit At least six directors from the defined community Raising capital through public offering requires Department of Finance Equity Tax Credit Certificate and Securities Commission approval

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Each year investment vehicles including about $700 million in Retirement Savings Plans move $ billions from Nova Scotia CEDIF matches local investors with local businesses

  • access to local capital
  • businesses start or stay in communities
  • businesses provide jobs and services

By 2014 more than $64 million invested by 8,300 Nova Scotians in 60+ projects is helping to fuel economic growth throughout the province.

Reasons for CEDIF

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  • Shareholders invest for 5 years 35% tax credit
  • Reinvest at 5 years for additional 20% tax credit
  • Reinvest at 10 years for additional 10% tax credit
  • Investments are eligible for RRSP tax deferral
  • Credits can be carried forward 7 years, back 3 years

CEDIFs are an effective way to leverage local capital to help rebuild a sustainable farm and food economy, help rebuild rural communities and contribute to all aspects of life in the Province.

CEDIF Tax Credits

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FarmWorks Investment Co-op

  • Directors (volunteers): 14 across Nova Scotia
  • Advisors (volunteers): 25 across NS
  • Collaborations: financial, organizations, gov’t
  • Four Offers 2012 to spring 2015
  • Total raised to date: $1,033,400
  • Shareholders: 252
  • Loans at 6% to date: 42 - $996,000
  • Capital available: $246,000 + $15,000 monthly
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Investment Challenges

CEDIF (locally) supported businesses have a 90% success rate – better than typical SME survival rate.

http://socialenterprisefund.ca/wp-content/uploads/2013/01/Eight-Tracks-2014-10.pdf

Challenges:

  • Raising awareness of the benefits of local investing
  • Gaining credibility with high net worth investors
  • Dealing with Retirement Fund investments
  • Selling through registered dealers
  • Raising awareness of benefits of CEDIF (local

investment) model

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Lending

FarmWorks lends to qualified food-related businesses chosen to balance risk and achieve strategic goals Loans $5,000 - $25,000, unsecured, payback 2 - 5 years Characteristics of loans:

  • No application fee
  • Specific criteria must be met
  • Current interest rate 6%
  • Consultations as appropriate
  • Annual Financial Statements
  • Early repayment without penalty
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Comprehensive Evaluation

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FarmWorks Loans to June 2015

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Pie r Squared, Wolfville

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Meadowbrook Meat Market, Berwick

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Big Spruce Brewery, Nyanza

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Local Source, Halifax

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The Port Grocer, Port Medway

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Oakview Farm, Kingsport

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Ratinaud French Cuisine, Halifax

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The Flying Apron Cookery, Summerville

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Stewart’s Organic Farm, Hortonville

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Helen B’s Preserves, Mahone Bay

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Field Guide Restaurant, Halifax

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Rocky Top Farm, New Ross

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Local No 9, Avonport

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Getaway Farms and Highland Drive Storehouse

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Boxing Rock Brewing Co., Shelburne

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Good Lake Farm, Southampton

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Meadow’s Brother’s Farm, Barton

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Wandering Shepherd, Intervale

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Meander River Farm, Ashdale

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Vincent Food Dressings, Yarmouth

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Fruition, Halifax

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Hoppy’s Farm, Blockhouse

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South Shore Farms, Upper Branch

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Millennium Gardens, Mill Village

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Questions and Answers

Linda Best

lbest@ns.sympatico.ca

Michael Shuman

shuman@igc.org

Jeff Farbman

Wallace Center at Winrock International contact@ngfn.org

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Webinars are Archived

TOPICS!

http://ngfn.org/webinars

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NGFN Webinars

3rd Thursday of each month 3:30p EST (12:30p PST)

 Aug 20: One Page Cost-Benefit Analysis Tool

http://ngfn.org/webinars

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USDA Local Food Directories

 Was

 Farmers Markets

 Now adds:

 CSAs  On-Farm Markets

 Food Hubs

 http://www.USDALocalFoodDirectories.com/

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Get Connected, Stay Connected

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http://ngfn.org

contact@ngfn.org