Business Retention and Expansion Final Report - City of Brantford
Business Retention and Expansion Final Report - City of Brantford
Business Retention and Expansion Final Report - City of Brantford
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31<strong>Business</strong> Development - FinancialThe financial portion <strong>of</strong> the business development section focused on financial/lending sources <strong>and</strong> financial planningpractices.Based on the previous three years, firms were asked to identify what financial/lending sources they have investigated,secured, currently use for operations <strong>and</strong>/or use for expansion. Table 6 below outlines the various responses for thedifferent financial/lending sources.Table 6: Firms financial/lending sources over past 3 yearsResponse Bank Trust Credit Union CFDC BDC Private Venture CapitalInvestigated 68 9 5 12 8 20 2Secured 87 5 3 7 5 20 3CurrentlyUsed for 138 8 4 10 4 28 3OperationsUse for 24 0 1 4 2 7 1<strong>Expansion</strong>Total 317 22 13 33 19 75 9As is evident in the table, most firms use banks <strong>and</strong> private capital for financial/lending sources, while some capitalize onthe services <strong>of</strong>fered through the Community Futures Development Corporation (CFDC).From a planning perspective, firms report a variety <strong>of</strong> time lines when planning their financial performance (Figure 4).Figure 4: Financial performance planning
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