MONCTON, NB, April 13, 2017 /CNW Telbec/ - The Government of New Brunswick and the Business Development Bank of Canada (BDC) signed a Letter of Intent to help improve the competitiveness of businesses in the province.
The Letter of Intent, signed by the Business Development Minister Francine Landry, who is the minister responsible for Opportunities NB, and by the President and CEO of BDC, Michael Denham, lays the foundation for a solid partnership between the Province of New Brunswick and BDC that will explore a range of opportunities to help businesses in the province continue to succeed and grow.
"Increased collaboration with BDC will enhance a range of opportunities to increase financing and advisory support for our New Brunswick companies," said Treasury Board President Roger Melanson, who is also minister responsible for Trade Policy. "One of the main objectives of the agreement is to assist small and medium-sized businesses with their understanding of future trade agreements and prepare them to take advantage of them."
Through this collaboration, BDC and the Province of New Brunswick will support sectors identified in the Atlantic Growth Strategy and focus their resources on key drivers of competitiveness including initiatives aimed at improving business productivity, export performance and succession planning.
"BDC will marshal resources to address key priorities for small and medium-sized businesses in the province," said Michael Denham, President and CEO of BDC. "By working with the Province of New Brunswick, we will increase the resources available to companies looking to seize business opportunities to scale up."
Opportunities NB, on behalf of the Province of New Brunswick, will assume responsibility to administer the Letter of Intent.
Small and medium-sized businesses represent 99.7% of all businesses in New Brunswick. Together they are responsible for 92% of all private sector employment in the province.
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 110+ business centres from coast to coast, BDC provides businesses in all industries with financing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and flexible growth and transition capital solutions. To find out more, visit bdc.ca.
About Opportunities NB
Opportunities NB is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across the province.
SOURCE Business Development Bank of Canada
For further information: Shawn Salewski, Director, External Communications, BDC, Shawn.email@example.com, 1 844 625-8321; Mary-Anne Hurley-Corbyn, Communications, Opportunities NB, 506 476-7596