Business Development Bank Canada: 2006 Results
- 0.3% of Canada's businesses can be classified as large. The remainder are SMEs.
- In 2006 27,000 entrepreneurs received assistance from its staff of 1,700. That's 1 BDC staffer for every 15 entrepreneurs.
Venture Capital Activity:
- BDC made just 8 seed investments totalling $6.6 million last year.
- Other vc investments by BDC: 69 direct VC investments totaling $106 million
The venture capital numbers seem surprisingly large, given the widespread rumors that BDC is dialling down its direct venture capital investing for the near future. If this is the case, it's a move I applaud. BDC has done a heroic job focussing on the needs of SMEs of all kinds. Its assistance is often overshadowed by the beating it takes from private VCs over BDC's participation in venture capital. (Do you hear the Export Development Corp or Sustainable Technology Development Canada taking the same hit?)
BDC loans have done some good things for my clients in the last two years, so I'm inclined to get a little misty eyed about them. Read their report, look past the investor relations cheerleading, and see what you think.