The Worker Co-op Fund – Tenacity Works – is a small investment fund whose purpose is to create new and expand existing worker-owned co-operatives in all regions of Canada.
The Worker Co-op Fund – Tenacity Works – is a small investment fund whose purpose is to create new and expand existing worker-owned co-operatives in all regions of Canada. Tenacity Works (the Fund) is owned and operated by the Canadian Worker Co-operative Federation (CWCF). The long-term goal of Tenacity Works is to be a self-sustaining fund that can support the development of the worker co-op sector by making investments and funding technical assistance. Funds are used to invest in worker, multi-stakeholder and shareholder co-ops across Canada. Applications for investments in the range of $20,000 to $50,000 are being actively sought.
To receive consideration for assistance the enterprise must meet the CWCF strategic objective of being a viable, market-driven enterprise that can contribute to creating a sustainable local economy and can provide its member-employees with the level of income required to enable their long-term commitment to growing and developing the enterprise. The Fund may invest in worker co-operatives, worker-shareholder co-operatives and multi-stakeholder co-operatives.
To receive an investment from the Fund, proponents of the enterprise must agree to:
- incorporate their business as an eligible co-op with complete or partial worker ownership
- upon incorporation, join CWCF as a regular member
- include in their by-laws the requirement that all employees be given the opportunity to become members
- meet all other standard conditions of the Fund (details available on request)
Grants – Technical Assistance
The Canadian Worker Co-op Federation also offers small grants to new or existing worker co-ops, to pay for technical advisory services such as pre-feasibility studies and project plans. The grants cover the consulting services provided primarily by members of our developers’ network. CWCF can also assist co-ops in finding other sources of support for business planning and organizational development.
How to Apply
To apply for a grant under CWCF’s Technical Assistance program, contact the Calgary office to obtain an application form. To apply for a loan, the group must submit its business plan, which must meet all requirements with regard to form (a list of requirements is available). Grant applications and business plans can be submitted at any time. If the application meets all requirements as outlined on the application form, the group will generally receive a decision in about one month for loans, and less time for grants.