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October 28, 2008

Canadian SMEs Need to Partner Up

"If Canadian companies want to survive the global economy, most current SMEs will need to find a partner to grow," said Jean Rene Halde, President and CEO of Business Development Bank of Canada. "Most SMEs - small and medium sized enterprises - are just going to need to get together with a competitor and partner."
Halde spoke to the Canadian Club of Toronto, October 20th, and explained that the new economy is no longer a small aquarium with room for many small fish. Imagine taking that aquarium to the ocean and now the fish can choose to stay in the glass box, even though the top is open? If they do leave their artificially safe old home, they will need to be a bigger size to avoid getting eaten.
With the Internet and global business borders, the world of commerce has jumped in size. SMEs will need to find suitable partners to buy. This next five years, companies will need to double or else close their doors. Find private equity to support your growth and help guide you out of your comfortable spot in the aquarium and out to the big sea.
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