Canada’s entrepreneurs push forward

Canadian business owners and entrepreneurs are resilient in tough economic times, finds new data from the Business Development Bank of Canada (BDC).

BDC’s clients collectively borrowed $3.8 billion and the BDC spread $126.8 million in venture capital this past fiscal year.

Read: Targeting female entrepreneurs

The bank’s consolidated net income of $533.4 million indicates their clients’ financial health and growing strength.

Read: Aging entrepreneurs ponder retirement

This profitability stemmed from “a decrease in the allowance for credit losses and higher net interest income resulting from the growth of its loan portfolio,” says the CNW Group’s report.

Read: Help the would-be entrepreneur

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.