Access to capital in Northern Ontario: Are we getting it right?

Abstract

Since the late 1970s, Northern Ontario’s mining, forest and tourism industries have been declining. Various programs through Industry Canada/FedNor and the Ministry of Northern Development and Mines (MNDM) have addressed this problem by providing access to capital. This paper outlines and examines the programs in place, discussing their function and evaluation structures. The author concludes that a long-term strategy must be in place to support businesses through the economic ups and downs of the region and calls for Canada and Ontario to work more closely together to increase efficiencies, improve expertise and provide better service for their business clients.

 Keywords: Ministry of Northern Development and Mines (MNDM), FedNor, Northern Ontario, access to capital