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Transcript of 1 Innovative Financing for Women Entrepreneurs Presentation by: Simone Desjardins, Special Advisor...
1
Innovative Financingfor
Women Entrepreneurs
Presentation by:Simone Desjardins, Special Advisor to the PresidentBusiness Development Bank of Canada (BDC)May, 2004
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Outline of presentation• Overview of BDC
– Mission and mandate– Services
• Women Entrepreneur Market– Facts
• BDC and Women Entrepreneurs– Historical perspective – BDC financing activity– Access to Venture Capital– Current activities – Going forward – future strategies
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BDC – An Overview
• Mission– BDC’s mission is to help create and develop
Canadian small and medium-sized business through timely and relevant financial and consulting services
• Nationwide network– Over 80 branches and 1,200 employees– One Virtual branch
• $8 billion in assets – over 22,000 clients• Record $2.1 billion in authorizations
fiscal year 2003
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BDC Services
1. Financial Assistance to Support• Start-ups
DevelopmentGrowth / ExpansionMaturity
2. Consulting Support• Quality• Growth• Human Resources
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Facts on Women Entrepreneurs
• Women hold 50% or more ownership of more than one-third of all Canadian SMEs
• Women predominate in service industries and are increasing their presence in other sectors – e.g., manufacturing, construction and primary
sectors
• A larger proportion of women-owned businesses are younger and smaller
• Fewer women-led businesses export compared to men (8% versus 11%)
Industry Canada, SME Financing in Canada, 2002
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What women entrepreneurs want
• Recent research provides some insights of what women entrepreneurs want – A long-term relationship with their banker– Value-added opportunities to network for
information, resources and potential clients– Support in understanding and discovering
growth opportunities – To grow their business beyond Canada’s border– To be treated equally and not differently than
men
Generations Research Inc., Exploratory Research into Opportunities within the
Women’s Market, 2001
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BDC and women entrepreneurs -
an historical perspective• BDC has been a pioneer in developing initiatives to support women entrepreneurs for over a decade
• Developed expertise through focus groups, surveys, in-depth research, training and mentoring programs– In 1990, the Bank pioneered the first comprehensive profile
of women-owned businesses
• In 1992, spearheaded training and mentoring programs specifically designed to encourage women to start and grow businesses [the successful Step-Up, Step-In programs]
• BDC has evolved with the market and is now focussing on growth & export by promoting and supporting global summits and conferences
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Total Lending Committed to Women-Owned* Businesses(in millions of $)
$1,500
$3,000
$4,500
$6,000
$7,500
Total Bank
$0
$500
$1,000
$1,500
Women
Total Bank $3,259 $3,572 $3,965 $4,461 $4,933 $5,446 $6,057 $6,827 $7,596
Women $428 $525 $629 $741 $812 $923 $1,045 $1,175 $1,329
1995 1996 1997 1998 1999 2000 2001 2002 2003
BDC and women entrepreneurs
*Defined as more than 50% female ownership
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Current Initiatives• Internal Committees in Branches – these committees
champion business issues, are involved in local women’s organizations and participate in women oriented events
• Discussion Workshops – Workshops and networking events on financial, export and growth planning are organized across the country.
• Growth & Export Forums – BDC sponsored the launch of the first Canadian Chapter of the Women Presidents’ Organization (WPO) in May 2001. Since then, a second chapter was established in the fall of 2002. WPO members meet monthly to discuss a variety of business growth issues and participate in international conferences to develop export opportunities and business alliances abroad
• Designated Web Section – Launch of a Web section providing value-added information on business management and promoting successful women entrepreneurs as role models
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Access to Venture Capital• Opportunity for women
entrepreneurs– Stimulate a VC awareness– Facilitate investment forums for women
entrepreneurs– Access to appropriate financing
mechanisms• 6% of BDC’s investment companies are lead 6% of BDC’s investment companies are lead
by women (Presidents & CEOs)by women (Presidents & CEOs)• Women hold more than one-third (35%) of the Women hold more than one-third (35%) of the
management team positions management team positions• Particularly relevant in life sciences sectorParticularly relevant in life sciences sector
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$25 Million Fund
• In October 2003, BDC launched a new $25 million fund targeted to women entrepreneurs
• Target well-managed, established, fast growing businesses
• This fund will serve to leverage additional private equity
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Going forward . . . • BDC’s other future strategies
for women entrepreneurs– Continue to support start-ups with
new service offering and as part of the Bank’s overall strategy
– Organize additional “Learning and Networking Forums” on growth, export and access to VC
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BDC.ca