Industry Canada (IC) fosters a growing, competitive, knowledge-based economy. The department works to develop and regulate Canadian businesses and industry.
The Canada Co-operatives Act is the responsibility of Industry Canada. The department is responsible for any amendments to the legislation, provides information on legal aspects of co-operative incorporation and amalgamation, and registers federally incorporated co‑operatives.
Industry Canada has a wide range of business development and expansion programs and services for small and medium-sized enterprises (SMEs) for which co-operatives are eligible.
The Canada Small Business Financing Program seeks to increase the availability of loans for establishing, expanding, modernizing and improving small businesses, including co-operatives. The Canada Small Business Financing Act encourages financial institutions to make their financing available to small businesses.
The Economic Development Initiative supports the Roadmap for Canada's Linguistic Duality action plan, which aims to strengthen linguistic duality, reinforce Canada's national identity and provide economic benefits for all Canadians. Through this initiative Industry Canada has partnered with the Rural and Co-operatives Secretariat to fund research on co-operatives and business succession in Official Minority Language Communities (OLMCs).