How language and communication differentials between social enterprises and economic development agencies impact financing

Within the relatively new spectrum of social enterprise academic research, few have directly considered the potential problems of incongruent language and communication barriers when securing financing. This exploratory research seeks to identify communication problems experienced by social enterprise leaders in Newfoundland and Labrador when applying for financing, while similarly identifying the perspective of economic development agencies themselves. Individual interviews with social enterprise leaders across the province (n=7) and with staff from economic development agencies including ACOA, INTRD, and CBDCs (n=5) were conducted over the telephone and in person. Based on results of a qualitative thematic analysis, it is concluded that language and communication may present a major obstacle for some social enterprises when seeking financing. Recommendations based on findings are made, including a focus on language, education and communication among all stakeholders to improve the general climate for social enterprises in securing financing. Social enterprises are recommended to involve a financial expert in all their business affairs, and to seek education in the area of business and finances. Consideration of current recommendations in conjunction with broader research in this area may enhance provision of important services by social enterprises around the province.