Although the BDC provides its services to all small business, it focuses on the technology and exporting industries in particular. Accreditation This business is not BBB Accredited. By 1964, twenty years after its foundation, IDB had 22 branches across Canada, covering main cities such as Halifax, Montreal, Toronto, Winnipeg, Calgary and Vancouver, and it also had operations in relatively rural areas. Calgary, AB T2P 0X8. [13][14], BDC Capital, a subsidiary of BDC, offers specialized financing, including venture capital, equity as well as growth and business transition capital. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.
[7], In 1975, the name of the bank changed to Federal Business Development Bank (FBDB), and its venture capital operations were started. With its 110+ business centres from coast to coast, BDC provides entrepreneurs in all industries with financing and advisory services. Subscribe to receive, via email, tips, articles and tools for entrepreneurs and more information about our solutions and events. BDC has more than 123 business centres across Canada and 60,000 clients. [4] BDC's debt obligations, secured by the Government of Canada, are issued to public and private sector institutions. The BDC's vision as stated on their website is "to make a unique and significant contribution to the success of dynamic and innovative entrepreneurship in Canada." In the mid-1970s, the bank added consulting and training to its financial offerings to help entrepreneurs better manage their businesses. [9], BDC is financially self-sustaining. [24], "History of the Business Development Bank of Canada", http://www.appointments.gc.ca/prflOrg.asp?OrgID=FBD&lang=eng, http://www.bdc.ca/EN/about/Pages/default.aspx, Canada's Venture Capital & Private Equity Association, Financial Services Regulatory Authority of Ontario, https://en.wikipedia.org/w/index.php?title=Business_Development_Bank_of_Canada&oldid=964323304, Canadian federal departments and agencies, Innovation, Science and Economic Development Canada, Wikipedia articles with WorldCat identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 24 June 2020, at 20:48. Prepare a professional business plan that gives you an excellent road map for your company. Industrial, Clean and Energy Technology (ICE) Venture Fund, Completing a successful virtual interview. Business Development Bank of Canada - BDC: A financial institution that is wholly owned by the government of Canada providing financial and consulting services to small Canadian businesses.
[10] Since 1998, it has been profitable and paid a total of more than $746 million in dividends to its sole shareholder, the Government of Canada. Venture capital and financing solutions for growth and business transition. [6] Later, the Industrial Development Bank Act was amended two more times to allow the bank to lend to companies in almost all industries. IDB was initially an arm of the Bank of Canada, and the Governor of the Bank was also Chief Executive Officer of the IDB. Series B financing is the second round of financing for a business by private equity investors or venture capitalists. 444 7 Ave SW #110. It is in the business of helping Canadian entrepreneurs and small business owners succeed and remain competitive in a global marketplace. Among them are several other important enterprises such as the Canadian Broadcasting Corporation (CBC), VIA Rail, Canada Post, and the Bank of Canada, as well as various provincial electric utilities. Factors of production are the inputs needed for the creation of a good or service. We offer financing, venture capital, growth & transition capital and consulting services. Find the right financing solution for your business. The Business Development Bank of Canada (BDC; French: Banque de Développement du Canada) is a Crown corporation and national development bank wholly owned by the Government of Canada. [6] IDB was one of the first and largest development banks in the world.[6]. BDC are made available across Canada through 80 offices. The bank was founded in 1944,[3] and its corporate headquarters is located in Montreal. A wide range of activities is held across the country during the third week of October. Notable investments include GradeSlam, Q1 Labs, Radian6, Canopy Labs, D-Wave Systems, and Klipfolio Dashboard. Learn how to use financial ratios to evaluate the performance of your business and identify potential problems. The BDC also provides Canada-specific economic analysis and research to its clients and the greater public. Private banking consists of personalized financial services and products offered to the high net worth individual (HNWI) clients of a bank or other financial institution. BDC is the only bank devoted exclusively to entrepreneurs. You can call toll-free for more information at 1-888-INFO-BDC (1-888-463-6232) or visit their web site at www.bdc.ca. BDC - Business Development Bank of Canada Bank. Its mandate is to help create and develop Canadian businesses through financing, growth and transition capital, venture capital and advisory services, with a focus on small and medium-sized enterprises. It also provides advice to businesses through its advisory services division. [18], Small Business Week[19] is an annual celebration of entrepreneurs and their contribution to Canadian society. [11] [15], BDC's Venture Capital arm makes strategic investments in Canadian companies through its Energy/Cleantech Fund, Healthcare Fund and IT Fund. Solutions to finance your projects and protect your cash flow. It won in 2011, for its investment in Radian6 Technologies Inc.;[22] in 2012, for its investment in Q1 Labs Inc.;[23] and again in 2014, for its investment in Layer 7 Technologies. Expert advice to run a better and more profitable business. The factors of production include land, labor, entrepreneurship, and capital. 444 7 Ave SW #110, Calgary, AB T2P 0X8. It describes itself as the only Canadian bank devoted entirely to the needs of entrepreneurs, supporting small and medium-sized businesses (SMEs) in all industries and at every stage of growth with money and advice. Seed stage companies are additionally helped through a venture capital (VC) arm, which focuses primarily on information technology, healthcare & biotech, and clean/green energy startups located in Canada. It reports to Parliament through the Minister of Innovation, Science and Economic Development.
Every ten years, the Minister of Industry must conduct a review of the provisions and operations of the BDC Act. At the time, the bank was known as "a lender of last resort"—supporting businesses in difficulty. The Industrial Development Bank Act was first amended in 1952 to allow the bank to offer financing to companies in the commercial airlines industry. During its first years, the bank's main role was to help small "industrial enterprises" convert from military production to peacetime operations after the Second World War. A bank is a financial institution licensed as a receiver of deposits and can also provide other financial services, such as wealth management. The bank was established by an Act of Parliament[5] as the Industrial Development Bank (IDB) in September 1944. Definition of Business Development Bank of Canada (BDC), Understanding the Business Development Bank of Canada (BDC), Private Banking: How the 1% Handles Money. Are Canadian corporations investing enough in venture capital? BDC is the only bank devoted exclusively to entrepreneurs. By the mid-1950s, one out of every 10 planes in Canada was financed by IDB. The Business Development Bank of Canada (BDC; French: Banque de Développement du Canada) is a Crown corporation and national development bank wholly owned by the Government of Canada. BDC was named among Canada's Top 100 employers[21] every year between 2007 and 2018. Because of this, the BDC is financially sound and can extend loans and provide aid to ventures that traditional banks and financial channels may deem too risky or unprofitable. Business planning tools for entrepreneurs, How to eliminate discrimination from your workplace, Assessing the economy six months into the pandemic, Government announces greater flexibility and extension of Canada Emergency Business Account, Notice of BDC's 2020 Annual Public Meeting, BDC launches $160M financing envelope to support IP development in Canada. Small Business Week was launched by BDC in 1979 and became a nationwide event in 1981.[20]. The last legislative review was completed in December 2014. It is also a Crown corporation, a wholly owned federal or provincial organizations structured like private or independent companies. The Business Development Bank of Canada is a certified B Corporation, meaning that it meets the highest global standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose, in line with ESG criteria. [12], BDC offers loans and advisory services with a focus on small and medium-sized companies. BBB Rating. [8], In 1995, Parliament passed the Business Development Bank of Canada Act, leading to a new name and mission for the bank. The Act mandates BDC to promote entrepreneurship, with a special focus on the needs of small and medium-sized enterprises (SMEs), and to fill the market gaps and maximize financing alternatives for businesses by offering services that were complementary to those available from other financial institutions. The offers that appear in this table are from partnerships from which Investopedia receives compensation.