The public has until March 31, 2023 to weigh in on the Crown corporation’s mandate, including how it supports small- and mid-sized businesses, and its role in Canada’s venture capital ecosystem. (The Logic)
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The public has until March 31, 2023 to weigh in on the Crown corporation’s mandate, including how it supports small- and mid-sized businesses, and its role in Canada’s venture capital ecosystem. (The Logic)
Talking point: The federal government is meant to review BDC’s mandate every 10 years. The latest review was set to begin in 2020, but was delayed in part because of the pandemic. The Business Development Bank of Canada’s influence on Canadian small businesses and startups has grown substantially since its last assessment. In 2022, it had committed nearly $48 billion to more than 95,000 clients, compared to $17.7 billion to 29,000 clients in 2010. It’s expecting its portfolio to grow seven per cent per year, on average, until 2027, and possibly more in difficult economic times. The review comes as inflation and rising interest rates pile debt onto many of BDC’s clients and threaten survival for some of them.
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