business development bank of canada bdc type crown corporation financial services industry financial services consulting venture capital founded montreal quebec canada 1944 key people michael denham president and ceo samuel l. duboc chairman total assets 22.9 billion f2016 1 number of employees 2 100 f2016 website bdc the business development bank of canada bdc french banque de d veloppement du canada is a federal crown corporation wholly owned by the government of canada . its mandate is to help create and develop canadian businesses through financing growth and transition capital venture capital and advisory services with a focus on small and medium sized enterprises . 2 the bank was founded in 1944 and its corporate headquarters is located in montreal . bdc has more than 112 business centres across canada and more than 42 000 clients . 3 bdc s debt obligations secured by the government of canada are issued to public and private sector institutions . contents 1 history 2 services 3 events and competitions organized by bdc 4 recognitions 5 references 6 external links history edit the bank was established by an act of parliament 4 as the industrial development bank idb in september 1944 . idb was initially an arm of the bank of canada and the governor of the bank was also chief executive officer of the idb . during its first years the bank s main role was to help small industrial enterprises convert from military production to peace time operations after the second world war . 5 idb was one of the first and largest development banks in the world . 6 the industrial development bank act was first amended in 1952 to allow the bank to offer financing to companies in the commercial airlines industry . by the mid 1950s one out of every 10 planes in canada was financed by idb . 6 later idb s act was amended two more times to allow the bank to lend to companies in almost all industries . by 1964 twenty years after its foundation idb had 22 branches across canada covering main cities such as halifax montreal toronto winnipeg calgary and vancouver and also had operations in relatively rural areas . in the mid 1970s the bank added consulting and training to its financial offerings to help entrepreneurs better manage their businesses . 7 in 1975 the name of the bank changed to federal business development bank fbdb and its venture capital operations were started . at the time the bank was known as a lender of last resort supporting businesses in difficulty . in 1995 parliament passed the business development bank of canada act leading to a new name and mission for the bank . the act mandates bdc to promote entrepreneurship with a special focus on the needs of small and medium sized enterprises smes and to fill the market gaps and maximize financing alternatives for businesses by offering services that were complementary to those available from other financial institutions . 8 bdc is financially self sustaining . 9 since 1998 it has been profitable and paid a total of 417 million in dividends to its sole shareholder the government of canada . 10 every ten years the minister of industry must conduct a review of the provisions and operations of the bdc act . the last legislative review was completed in december 2014 . 11 a bdc location in moncton new brunswick bdc building stelco tower hamilton ontario services edit bdc offers loans and consulting services with a focus on small and medium sized companies . it reports to parliament through the minister of innovation science and economic development . 12 bdc capital a subsidiary of bdc offers specialized financing including venture capital equity as well as growth and business transition capital . 13 bdc s venture capital arm makes strategic investments in canadian companies through its energy cleantech fund healthcare fund and it fund . notable investments include q1 labs radian6 canopy labs d wave systems and klipfolio dashboard . 14 15 bdc is a complementary lender offering commercial loans and investments that fill out or complete services available from private sector financial institutions . it also provides advice to businesses through its consulting division . 16 events and competitions organized by bdc edit small business week sbw 17 is an annual celebration of entrepreneurs and their contribution to canadian society . a wide range of activities is held across the country during the third week of october . small business week was launched by bdc in 1979 and became a nationwide event in 1981 . 18 recognitions edit bdc has been named one of canada s top 100 employers 19 every year since 2007 . in 2011 bdc venture capital won the cvca deal of the year award for the venture capital category along with brightspark ventures and summerhill venture partners for its investment in radian6 technologies inc. 20 references edit annual report 2016 p. 54 https www.bdc.ca en documents annualreport bdc ar2016 en final.pdf canada s department of justice . http laws lois.justice.gc.ca eng acts b 9.9 fulltext.html . retrieved 2012 05 04 annual report 2016 p. 4 https www.bdc.ca en documents annualreport bdc ar2016 en final.pdf retrieved 2016 09 19 treasury board of canada secretariat . http www.tbs sct.gc.ca pas srp remarks observations e.asp id 34355 . retrieved 2012 05 04 official website . http www.bdc.ca en about overview history pages pioneer years.aspx . retrieved 2012 05 04 a b official website . http www.bdc.ca en about overview history pages pioneer years.aspx retrieved 2012 05 04 official website . http www.bdc.ca en about overview history pages diversification years.aspx . retrieved 2012 05 04 canada s department of justice . http laws lois.justice.gc.ca eng acts b 9.9 fulltext.html . retrieved 2012 05 04 official website . http www.bdc.ca en about faq pages general.aspx retrieved 2012 06 06 bdc 2015 annual report p. 31 . http www.bdc.ca en documents annualreport bdc annualreport 2015.pdf . official website . retrieved 2015 08 12 http www.bdc.ca en about corporate governance pages legal page.aspx . government of canada . http www.appointments.gc.ca prflorg.asp orgid fbd & lang enghttp www.appointments.gc.ca prflorg.asp lang eng & orgid bdc . retrieved 2016 09 19 bdc official website . http www.bdc.ca en about pages default.aspx . retrieved 2014 11 21 official website . http www.bdc.ca en solutions venture capital strategic approach pages it venture fund.aspx . retrieved 2014 06 05 official website . http www.bdc.ca en solutions venture capital strategic approach pages energy cleantech venture fund.aspx . retrieved 2014 06 05 official website . http www.bdc.ca en about overview pages what we do.aspx . retrieved 2012 05 04 canadian intellectual property office . http www.ic.gc.ca app opic cipo trdmrks srch vwtrdmrk.do ; jsessionid 0001fwvns03yvso3g1oq7l97 vu u0pf90 lang eng & status ok & filenumber 0902337 & extension 0 & startingdocumentindexonpage 1 official website . retrieved 2012 05 04 http www.bdc.ca en documents sbw bdc sbw fiche info en.pdf canada s top 100 employers . retrieved 2012 05 04 http www.canadastop100.com national canada s venture capital & private equity association . http www.cvca.ca files news cvca 2011 doya vc release final.pdf external links edit business development bank of canada official website v t e banks and credit unions in canada banks big five bank of montreal canadian imperial bank of commerce president s choice financial royal bank of canada scotiabank tangerine toronto dominion bank td canada trust other banks amex bank of canada bridgewater bank business development bank of canada canadian tire financial services canadian western bank citibank canada citizens bank of canada equitable bank first nations bank of canada hsbc bank canada icici bank canada laurentian bank of canada manulife bank of canada meridian bank national bank of canada rogers bank versabank credit unions credit unions affinity credit union aldergrove credit union alterna savings assiniboine credit union blueshore financial central 1 credit union coast capital savings concentra financial conexus credit union credit union central of canada desjardins group envision financial first calgary financial first west credit union gulf and fraser fishermen s credit union island savings kawartha credit union kootenay savings credit union libro financial group meridian credit union mouvement des caisses populaires acadiennes servus credit union steinbach credit union tcu financial group vancity windsor family credit union your credit union your neighbourhood credit union credit union deposit insurance alberta british columbia manitoba new brunswick newfoundland and labrador nova scotia ontario prince edward island saskatchewan other financial institutions federal financial institutions farm credit canada provincial financial institutions atb financial retrieved from https en.wikipedia.org w index.php title business development bank of canada & oldid 740262844 categories 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