Financial Resilience Institute

May 12, 2026 · 3 mins

More than a third of Canadian small and medium-sized enterprises are adopting a social purpose, with Women-Owned businesses leading the way

New national data shows Canada on track to meet 2030 social purpose adoption goal

 

Vancouver, B.C. – April 11, 2026

Canada’s small and medium-sized businesses (SMEs) are embracing social purpose as a core business strategy, with women-owned enterprises leading the charge, according to new national data unveiled today by the Financial Resilience Institute.

Released by the Financial Resilience Institute in collaboration with the Canadian Purpose Economy Project, the landmark study provides the most comprehensive snapshot to date of social purpose adoption among Canadian Small and Medium Enterprises (SMEs). The findings signal strong momentum toward the Project’s 2030 goal: having at least 25 per cent of Canadian businesses formally adopt, disclose, and authentically embed a social purpose across their operations and relationships.

Eloise Duncan, CEO and Founder of the Financial Resilience Institute, notes the importance that social purpose can play in supporting the resilience of small and medium enterprises. “This report complements the Institute’s broader research, impact measurement and innovation to help measure and improve the business financial health and resilience of SMEs in collaboration with others,” explains Duncan. “Our findings confirm social purpose businesses see real benefits, including attracting, retaining and engaging customers and building consumer trust, by embedding purpose into their organizations. This, in turn, can support their resilience. We are proud to lead the way in bringing data and evidence for the ecosystem, while helping grow social purpose innovation and resilient communities.”

Key findings from the study* include:

• Nearly three in ten Canadian SMEs report having an explicit or implicit social purpose.
• 11% have a formal, written social purpose statement, while 18% operate with an implicit purpose guiding business decisions.
• Women-Owned SMEs are significantly more likely to adopt a social purpose, with 42% reporting having an explicit or implicit social purpose, compared to 25% of Men-Owned SMEs.

This data is an important inflection point for Canada’s purpose economy,” said Coro Strandberg, Cofounder and Chair of the Canadian Purpose Economy Project. “It shows that small- and medium-sized businesses are already integrating purpose into how they operate, grow, and create value. We’re especially grateful for our partnership with the Financial Resilience Institute, which enables us to connect purpose adoption directly to business resilience and performance.”

A Growing Purpose Economy

The findings provide baseline data and highlight the potential for the acceleration of the purpose economy in Canada—an evolving business model that prioritizes long-term impact alongside profit. Large, federally regulated organizations such as Coast Capital are helping to catalyze this shift by embedding purpose at scale and supporting SMEs in building resilient, community-anchored businesses.
“Coast Capital is Canada’s largest national purpose-driven credit union and a champion of the purpose economy,” said Maureen Young, Vice President, Social Purpose Office, Coast Capital. “As a trusted financial partner to individuals and business owners across the country, we see first-hand how purpose and financial resilience intersect. The Institute’s studies validate the critical role that financial institutions and others can play in centring purpose to fuel stronger local economies.”

Study methodology and definitions available in the full report.

ABOUT FINANCIAL RESILIENCE INSTITUTE

Non-Profit Financial Resilience Institute is the leading independent authority on the financial health, resilience and well-being of Canadian households and small and medium businesses. We believe in the power of evidence to build resilience, improve lives and strengthen communities. We partner with financial institutions, policymakers, innovators and employers to design and implement solutions that improve financial resilience, health and well-being for all.

ABOUT CANADIAN PURPOSE ECONOMY PROJECT

The Canadian Purpose Economy Project exists to accelerate the transition to the purpose economy. It engages national ecosystem actors to create an enabling environment for social purpose businesses to start, transition, thrive and grow. It convenes, connects, curates and collaborates to drive the social purpose business movement in Canada toward an economy where social purpose business is the norm, attracting capital, talent and partners.

In this economy, businesses unlock all their assets, influence, reach and scale in collaboration with others to help Canada address its societal challenges and realize a flourishing future. We appreciate the ongoing support of Coast Capital, our Founding Purpose Champion, and operate as a project of the Canadian Business for Social Responsibility Education Foundation. Visit our website at www.purposeeconomy.ca to register for updates, explore our purpose levers of change and join the social purpose business movement Canadian Purpose Economy Project.

ABOUT COAST CAPITAL

At Coast Capital, we’re not dreaming about a better future, we’re building one. Part of the Coast Capital Savings Federal Credit Union family of brands, we’ve been unlocking financial opportunities that positively impact people and communities for more than 85 years. We believe that every Canadian deserves a financial partner who actually cares how things turn out and driven by our social purpose, we look at everything we do through the lens of how we can help our members, employees, and communities. We’re proud to be a Certified B Corporation™ and part of a global movement building a more inclusive, equitable and regenerative economic system. We’re deeply committed to making our financial cooperative a great place to work as demonstrated by some of our accolades. Coast Capital is a platinum member of Canada’s Best Managed Companies and one of Canada’s Most Admired Corporate Cultures.

Media Contact:

Erin McKinley | erin.mckinley@coastcapitalsavings.com