The Careforce Home Care Worker Co-operative is a good example of the potential in rural areas for worker co-op successions. This small business provides market-based home health-care services in the Annapolis Valley region of Nova Scotia.
At the time the owner decided to look at the options for succession, it was providing modestly paying employment to about 20 people. With support from the owner, and resources provided by the CWCF and the co-op development initiative, a worker co-op of employees was formed to purchase the business. I would like to emphasize the importance of the support this co-op received from the co-op development initiative.
It is now over three years since the transition was completed. As well as being profitable every year, the co-op now has 65 employees and has received a number of business awards, including the Eastern Kings Chamber of Commerce outstanding new business award. It is also close to being debt free, having repaid most of the debt financing required to purchase the business. This is an example of how employees with little or no ownership experience, but with the right supports, can not only take over an enterprise but make it grow and thrive, benefiting themselves and their community.
In closing, we would also like to say that we support the submissions of the CCA and the CCCM, and we appreciate being invited. We also appreciate the work of this committee.
Thank you very much.