BDC is supporting 49,000 entrepreneurs in Canada through its funding and advisory services — up 17 percent from last year, according to its 2016-2017 annual report.
BDC released the report to promote programs that it launched in the past year. Its most recent initiatives include dedicating $250 million to growth stage companies, closing $5 million for a women-led business fund, and launching a $135 million fund for cleantech companies.
“Helping entrepreneurs thrive is our greatest ambition. BDC remains committed to a clear and unique purpose: to create prosperity for Canada by providing the advisory services and financial support entrepreneurs need to achieve their goals,” says BDC President and CEO Michael Denham. “We are reaching more entrepreneurs and having a greater impact on their businesses. And we continue to be profitable, operating at no cost to Canadian taxpayers.”
In October 2016, BDC launched an online productivity benchmarking tool, which works to measure a company’s productivity compared to competitors. It has received over 15,000 visits. BDC.ca attracted 4.6 million visitors last year, an increase of 20 percent from the previous year.
The firm says that it had a consolidated net income of $465 million last year, “the bank will have even more capacity for lending and investing in the future.”