MONTREAL, Feb. 2, 2023 /CNW Telbec/ – BDC at this time introduced the deployment of a brand new $30 million financing envelope to deepen its assist for Canada’s artistic and cultural economic system. BDC’s purpose is that this financing may have a optimistic ripple impact on all companies in these industries.
With this financing, the Financial institution goes one step additional in supporting quickly rising medium-sized companies within the artistic and cultural industries in a wide range of key sectors, for instance, media and audiovisual, video video games, movement image and sound manufacturing, sound recording, and radio and tv broadcasting.
“Canada’s artistic and cultural industries have all the time represented an unbelievable asset for Canada as a collective expression of our inventiveness and identification,” says Isabelle Hudon, President and CEO of BDC. “These industries additionally stand out for his or her financial contribution and their development potential”.
“Desirous to faucet into this potential, we took a more in-depth have a look at these industries to pinpoint the place and the way we might energy that development”, provides Hudon. “Bringing our improvement function to the subsequent degree inside the artistic and cultural sectors, we will tackle extra danger and handle a spot available in the market, whereas serving to high-growth corporations turn into business leaders each right here at dwelling and on the world stage”.
Focused at quickly rising medium-sized companies
The brand new financing, which is able to usually begin at $2 million, is particularly focused at quickly rising companies with one of many following three initiatives in thoughts: enterprise consolidation, enterprise transition, or the event of unique content material. This providing enhances BDC’s current advisory providers and monetary options that may shortly meet smaller companies’ wants.
Data-intensive and primarily based on particular person creativity and expertise, artistic and cultural companies make sure the continued improvement of our society, whereas having important output on high-value job creation and financial wealth. In 2019, the humanities, tradition and heritage industries accounted for $57.1 billion in gross home product and greater than 672,900 direct jobs.
A valued partnership with Telefilm Canada
As a part of this effort to speed up development within the sector, BDC is happy to companion with Telefilm Canada to determine and develop untapped enterprise potential and make a real distinction within the development plans of the Canadian audiovisual business. This partnership goals to reinforce collaboration and implement joint initiatives reminiscent of: growing a monetary assist referral program, rising consciousness of obtainable financing options inside the audiovisual business, and exploring joint financing or advisory applications primarily based on business wants. It’s a excellent instance of what BDC desires to perform: ensuring industries which will have totally different or unmet wants get elevated alternatives to totally obtain their potential and ambitions.
“Content material created by Canadian creators is of remarkable high quality and a testomony to the world that Canada is a thriving audiovisual hub,” says Francesca Accinelli, Interim Government Director and CEO, Telefilm Canada. “To be able to propel Canadian tales to new heights, it’s important to stimulate capability constructing in addition to diversify funding sources, notably with new partnerships exterior of our business. For over 50 years, Telefilm has confirmed to be an efficient supervisor of private and non-private funds, which is why we’re delighted to be working with BDC to extend assist for the Canadian movie group”.
Working in partnership with others to extend assist for extra entrepreneurs is a cornerstone of BDC’s renewed technique. Over the subsequent yr, BDC will purpose to accentuate its attain throughout the artistic and cultural industries by forging extra partnerships in several subsectors in assist of inclusive development. Further choices will likely be progressively deployed as BDC deepens its data of those industries’ wants.
To study extra concerning the new financing, go to: BDC’s artistic and cultural business internet web page.
About Telefilm Canada
As a Associate of Alternative, Telefilm Canada is a Crown company devoted to the success of the Canadian audiovisual business, fostering entry and excellence by means of programming that helps cultural resonance and public engagement. Telefilm helps dynamic corporations and artistic expertise in Canada and world wide, all the time with an eye fixed to fairness, inclusion, and sustainability. As well as, it makes suggestions to the Division of Canadian Heritage concerning the certification of treaty audiovisual co-productions and administers the Canada Media Fund applications. Launched in 2012, the Expertise Fund accepts personal donations which might be primarily used to assist rising expertise. Go to telefilm.ca and comply with us on Twitter and on Fb.
As Canada’s improvement financial institution, BDC is a companion of selection for all entrepreneurs seeking to entry the financing and recommendation they should construct their companies and sort out the large challenges of our time. Our funding arm, BDC Capital, provides a variety of danger capital options to assist develop the nation’s most modern companies. We’re certainly one of Canada’s High 100 Employers and Canada’s Greatest Range Employers. For extra data on BDC’s services and products and to seek the advice of free instruments, templates and articles, go to bdc.ca or be a part of BDC on social media.
SOURCE Enterprise Growth Financial institution of Canada
For additional data: BDC Media Relations, [email protected]