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Published By: Builders Meet Inc.
Publish Time: Mar 08 2025 Number of visits: 63
Help is on the Way: BDC Launches $500M ‘Pivot to Grow’ Initiative for SMEs
​The Business Development Bank of Canada (BDC) has launched the 'Pivot to Grow' initiative, allocating $500 million to support small and medium-sized enterprises (SMEs) facing challenges due to U.S. tariff uncertainties. This program offers flexible financing solutions, tailored advisory services, and strategic insights to help businesses adapt and thrive in the evolving trade environment.
Montreal, March 7, 2025 – The Business Development Bank of Canada (BDC) has announced a comprehensive support program totaling $500 million to assist small and medium-sized enterprises (SMEs) affected by the uncertainty surrounding potential U.S. tariffs. The initiative, Pivot to Grow,' aims to provide financing, advisory services, and strategic insights to help businesses adapt and thrive in the evolving trade landscape.​ Key Components of the 'Pivot to Grow' Initiative: Financing Support: BDC is allocating a new $500 million envelope to offer flexible financing solutions to SMEs directly impacted by U.S. tariff uncertainties. This support is tailored for businesses experiencing challenges such as canceled contracts, increased costs, or loss of customers due to the potential tariffs. ​ Advisory Services: Beyond financing, BDC is enhancing its advisory services to assist businesses in developing robust action plans. These services focus on financial management, operational efficiency, and market diversification strategies to mitigate risks associated with trade tensions. ​ Strategic Insights: To empower entrepreneurs with timely information, BDC is generating high-value insights and best practices. This includes conducting weekly client councils, SME surveys, and in-depth interactions with businesses across various sectors to share knowledge and strategies for navigating the current economic climate. Leadership Perspective: Isabelle Hudon, President and CEO of BDC, emphasized the importance of resilience and adaptability in these uncertain times. She stated, "Amid the uncertainty of U.S. tariffs, we need to take a collective deep breath, keep a cool head, and take the measure of the challenge in front of us. BDC is built to help our clients withstand crises, and that's why we're stepping in with $500 million in new financing, advice, and tools that meet the needs of entrepreneurs in today's context." ​ Additional Resources: To further support businesses, BDC offers a suite of resources, including:​ Canada Tariff Finder: A free online tool that allows Canadian exporters to find applicable tariff rates for specific goods in foreign markets, aiding in cost forecasting and market analysis. Guides and Articles: Insights on managing the impact of potential tariffs on supply chains and finding new opportunities in response to trade tensions. For a comprehensive overview of all available resources and support, businesses are encouraged to visit BDC's special support page on tariffs. ​ Through the 'Pivot to Grow' initiative, BDC reaffirms its commitment to standing shoulder to shoulder with Canadian entrepreneurs, providing the necessary tools and support to navigate and succeed amidst trade uncertainties. For more information or to apply for the 'Pivot to Grow' initiative, please visit BDC's special support page on tariffs.
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