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From BDC to ICT
The Business Development Bank of Canada (BDC) on Monday said it is setting aside $200 million worth of loans to help entrepreneurs in the field of information and communications technology (ICT).
The money can be used for hardware, software and consulting services designed to boost online sales. BDC client and non-client companies, including individual or home offices, can apply, and BDC said in a press release that it will speed up and simplify processing of the applications.
“We now know that ICT has a very real impact on small business productivity, innovation and competitiveness," explained Jean-René Halde, the bank's president and CEO. "In fact, much of the productivity problem in Canada can be attributed to insufficient investments in technology.”
BDC simultaneously launched its Smart Tech online resource centre that offers a variety of tools for small businesses. Entrepreneurs can learn more about products in the marketplace, they can identify technologies that would be useful to them, and they can get support in implementing them. Also available is a free online assessment of small-business websites.
“The adoption of innovative digital technologies is essential to the success of businesses,” said Minister of Industry Christian Paradis. “Our government is committed to ensuring the right conditions are in place for businesses to succeed, as they continue to create jobs and strengthen our economy.”
Entrepreneurs with ICT projects that do not exceed $50,000 should submit their loan applications online. Companies that require more than $50,000 can contact the BDC business centre in their area, apply online or call BDC customer service.
Canadians go to great lengths to go local
A Scotiabank poll suggests that Canadians believe it is important to support local businesses and many of them are willing to go out of their way to do so. Eighty-five per cent of people surveyed say they tell others about their local small businesses, 63 per cent walk or drive further than necessary to buy from local firms, and 43 per cent said they would pay higher prices to patronize them. The poll also found most Canadians recognize the important role that small businesses play in their community, including how they improve access to products and services (95 per cent), create employment opportunities (94 per cent) and provide leadership in their community (86 per cent). Of course, there's always room for improvement. Among the most popular suggestions on how small business can do better? Provide more personalized service, increase advertising (it's true) and offer more competitive prices. The survey polled 1,014 Canadians from Sept. 12 to to 20.
Stop stalling, start planning
