Business Development Today

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  • Published: 1/1/0001 12:00:00 AM
  • minute read

Many times small companies remain uncompetitive because they lack the proper technology to compete against bigger players.

While the goal is not to be bigger, but faster, normally bigger companies are the ones that can afford to pay for custom software development that will allow them to do things quicker than others.

The main barrier to the adoption of these tools seems to be an inadequate access to funding, but there are several sources for funds in Canada for these Small Companies: one of them is the Technology Financing available from the Business Development Bank of Canada or BDC.

If you are a SMB who has been operating for the past 24 months in Canada, the BDC can provide you with up to $50,000 to invest in Hardware, Software or even Consulting Services.

This loan has a four-year repayment period and an interest rate based on the BDC floating base rate +1%.   The BDC floating base rate effective July 1st, 2012 is 5.00 %

 You can apply online and find more about it here, and you will hear back from them within 2 business days.

In today’s global economy the reaction time is everything; the one that gets there first, gets the business. The best way to streamline your process is through the automation that a system specially created for you can give you. If you feel that your business cannot afford this solution, it is worth looking into the Technology Financing from BDC and many other sources available to Canadian Entrepreneurs.

Let us know! What are financing issues and the solutions that you have found to afford the unique technology that your business needs?

Konverge is a Toronto-based custom software developer. Our customer-centric, collaborative approach provides unique technology solutions which boost productivity and increase profits.

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