HALIFAX, April 27, 2017 /CNW Telbec/ - The Business Development Bank of Canada (BDC) and Nova Scotia Business Inc. (NSBI), are partnering to enhance exporting supports for Nova Scotia's small and medium size enterprises (SMEs).
"BDC seeks to create a unique and valued partnership with NSBI to stimulate and accelerate competitiveness for Nova Scotia's SMEs, both in the province and on the world stage," says Michael Denham, BDC's President and CEO. "By working together, we will leverage on-site resources to identify opportunities to support, retain and grow businesses within the province."
Among the Atlantic provinces, Nova Scotia is home to the greatest number of SMEs, totalling some 30,000. They are responsible for 93% of all private sector employment in the province.
"As of January 2016, NSBI's regional business advisors in communities around the province worked with 714 companies needing services, financing, or advice. Sometimes the right support is to connect our clients with partners such as BDC. Last year alone, NSBI referred 60 companies to BDC," says Laurel Broten, President and CEO, Nova Scotia Business Inc. "We will look to enhance export support for SMEs and collaborate on new ways NSBI and BDC can also encourage innovation."
For Gina Gale, BDC's Senior Vice President, Atlantic, this partnership will position Nova Scotia's SMEs to face global competition. "We know that access to capital is essential to export development and success of businesses in the long run. Together, we will work with entrepreneurs and focus on improving innovation and development of their businesses."
- BDC and NSBI have entered into a Letter of Intent that formalizes their increased collaboration, effective April 2017.
- Both organizations have identified increasing their collaboration to build Nova Scotia's global competitiveness through targeted support for the industry clusters identified in the federal and pan-Atlantic Atlantic Growth Strategy (e.g. ICT, Ocean Tech, Agri-food).
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 Nova Scotia Business Inc.
Nova Scotia Business Inc. (NSBI), a Crown Corporation, is the private-sector led business development agency for the Province of Nova Scotia. To strengthen and grow the Nova Scotia economy, NSBI supports Nova Scotia businesses by providing access to business advisory services, skills development and training, market intelligence, access to financing, and support accessing global markets, and attracts innovative, globally competitive companies to establish a business location in Nova Scotia. To learn more, visit novascotiabusiness.com.
SOURCE Business Development Bank of Canada