He says the future belongs to entrepreneurs who invest
MONTREAL, Jan. 21, 2016 /CNW Telbec/ - In Saint-Georges today, the President and Chief Executive Officer of the Business Development Bank of Canada (BDC), Michael Denham, reiterated his commitment to supporting the growth of local entrepreneurs as well as BDC's continued presence in the Beauce region.
"For many, the Beauce is known as the being cradle of entrepreneurship in Quebec. This is one of the reasons I'm so delighted to be here today," said Mr. Denham. "We recognize the vitality of the Beauce and we're proud of the excellent, long-standing relationship with the École d'Entrepreneurship de Beauce, the banks and other local partners. As such, we've decided that the BDC office will soon be relocated to Saint-Georges. This will bring the Bank closer to businesses, to better support them in their initiatives and undertakings."
In a speech made before the Conseil économique de Beauce, Mr. Denham encouraged entrepreneurs to invest further in their growth strategies and in their productivity. According to a report to be published by BDC next week, many SMEs are limiting their development due to weak economic growth. Currently, only 10% of Canada's SMEs account for 75% of investments.
"It's imperative to boost this percentage," added Mr. Denham. "Even though there is a lot of uncertainty in the economic environment, our day-to-day dealings with entrepreneurs indicate that the health of our businesses is built on investing. Businesses in the Beauce and the rest of the country must take a proactive approach to their development; the region's economic health depends on it. We firmly believe that the future belongs to entrepreneurs who invest."
Indeed, according to BDC's study, SMEs that continue investing are more competitive and profitable on both a national and international level. So the Bank is committed to pursuing and even expanding its collaboration with entrepreneurs from the Beauce in order to develop financial and non-financial solutions for increasing investments and sustaining the region's economic health.
BDC is the only bank that invests solely in entrepreneurs. With more than 100 business centres and over 32,000 clients across Canada, it offers loans, investments and consulting services. BDC's mission is to support Canadian entrepreneurship with a focus on small and medium-sized enterprises. For more information, visit www.bdc.ca.
SOURCE Business Development Bank of Canada
For further information: Maria Constantinescu, Senior Advisor, Public Relations, [email protected], 1-844-625-8321