BDC Small Business Week 2018 kicks off with focus on digital transformation
DIGITIZE NOW:
“In today’s connected, automated and data-driven world, it’s vital for Canadian businesses to embrace new technologies to keep up with the competition,” says Pierre Clȼ©roux, Vice President, Research and Chief Economist at BDC.
The study also identiÀes Àve steps that Canadian businesses can take to digitize right now:
1. by learning about digital technologies, identifying bottlenecks and production problems that have to be resolved before bringing in digital technologies, and creating an action plan; with gradual changes and focusing on customer needs; by building a change team, training employees and rewarding risk-taking; and use it for decision-making and keeping track of useful information; by measuring performance and adapting the business model.
Getting external Ànancing for software and integration costs is often difÀcult to obtain.
“As Canada’s only bank devoted exclusively to entrepreneurs, we see every day how businesses are accelerating their performance by harnessing digital technologies”, adds Michael Denham, BDC’s President and CEO.
“We want to help, which is why we are making available a new $250 million lending envelope to provide the money entrepreneurs need for projects that are key to their productivity and growth,” says Denham.
With this new offering, entrepreneurs can purchase new software to enhance existing processes and take their business to the next level. Combined with BDC’s advice on planning technology investments, they are now equipped to make their digital transformation a reality.
This year’s edition of SBW runs October 14 to 20 under the theme “Digitize now: Transform your business.” BDC Small Business WeekTM is a Business Development Bank of Canada (BDC) trademark whose origins date back to 1979 when BDC business centres in British Columbia’s Lower Fraser Valley pooled their resources to organize a week of activities for entrepreneurs. This Àrst event and the one that followed in 1980 were so successful that BDC ofÀcially launched BDC Small Business WeekTM across Canada in 1981. The initiative was quickly adopted by Canada’s business community. In 2017, close to 300 activities across Canada attracted around 20,000 business people. This BDC Áagship event celebrates entrepreneurship at the local, provincial and national levels.
BDC is the only bank devoted exclusively to entrepreneurs. It promotes Canadian entrepreneurship with a focus on small and medium-sized businesses. With its 123 business centres from coast to coast, BDC provides businesses in all industries with Ànancing and advisory services. Its investment arm, BDC Capital, offers equity, venture capital and Áexible growth and transition capital solutions. BDC is also the Àrst Ànancial institution in Canada to receive B Corp certiÀcation. To Ànd out more, visit bdc.ca.