Business Development Bank of Canada to work with province to support business
April 13, 2017
April 13, 2017, MONCTON (GNB) – The provincial government has signed a letter of intent with the Business Development Bank of Canada (BDC) to work together to help business.
“Increased collaboration with the BDC will enhance a range of opportunities to increase financing and advisory support for 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."
The bank and the government will support sectors identified in the Atlantic Growth Strategy and focus their resources on competitiveness including initiatives aimed at improving business productivity, export performance and succession planning.
“We will marshal resources to address key priorities for small and medium-sized businesses in the province,” said Michael Denham, president and CEO of the Business Development Bank of Canada. “By working with the Province of New Brunswick, we will increase the resources available to companies looking to seize business opportunities to scale up.”
The letter was signed by Economic Development Minister Francine Landry, who is the minister responsible for Opportunities NB. The letter will be administered by Opportunities NB on behalf of the province.
Small and medium-sized businesses represent 99.7 per cent of all businesses in New Brunswick. Together they are responsible for 92 per cent of all private sector employment in the province.
BDC promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. It 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.
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.
Mary-Anne Hurley-Corbyn, communications, Opportunities NB, 506-476-7596.
Maria Constantinescu, media relations, Business Development Bank of Canada, 514-518-1577.