Financing reports

This report ascertain general characteristics of Research and Development-intensive firms and assess their access to financing. It provides some evidence that Research and Development-intensive firms have less access to financing than other firms.

This profile provides a descriptive overview of SMEs in tourism industries and examines their differences compared with SMEs in non-tourism industries in terms of business and owner characteristics, access to financing, financing terms and conditions and obstacles to business growth.

This paper examines whether the financing activities and experiences of innovative small and medium-sized (SMEs) in accessing financing are different from those of non-innovative SMEs. This paper also examines whether innovative SMEs face different financing terms and conditions than non-innovative SMEs seeking financing.

This profile describes innovative small and medium-sized enterprises (SMEs) along a range of characteristics and examines whether they differ from non-innovative SMEs in terms of access to financing, financing terms and conditions, and obstacles faced in accessing financing.

This profile compares several characteristics of borrowers under the Canada Small Business Financing Program with small businesses not using the Program.

This report was undertaken to document the profiles of Canadian SME exporters and to gain a better understanding of the processes of internationalization adopted by SMEs.

This report was conducted to examine the extent to which Canadian SME exporter firms face difficulty in accessing debt financing from commercial lenders compared to non-exporters.

This profile presents a profile of Canadian SMEs that exported in 2004. The profile examines the distinguishing features of SME exporters and their financing needs, and provides insight into the differences between exporters in the manufacturing and service sectors.

This profile on HGSMEs presents key characteristics, financing patterns and potential financial barriers for these high-performing firms.

This report develops a working definition of "Global Gazelles" and analyzes financing issues faced by such firms.

An update of the November 2004 article on women entrepreneurs, this article describes the recent financing activities of small and medium-sized enterprises (SMEs) majority-owned by women in Canada.

This profile provides a portrait of Canada's young entrepreneurs and examines the effect, if any, of the age of the owner on financing a small business.

This profile provides a portrait of visible minority entrepreneurs. It examines whether and how financing a small business is affected by the ethnicity of its owner.

This profile describes the financing activities of small and medium-sized enterprises (SMEs) majority-owned by women in Canada. General business characteristics and financial growth performances are compared with SMEs majority-owned by men to highlight past and current gender differences.

The report provides further analysis and evaluation of the literature review undertaken in Phase 1.

The report presents a review of existing literature and examines obstacles to small business financing for various profiles of business owners in Canada.

This profile compares several characteristics of rural-based SMEs with those of SMEs in urban regions, including size, provincial distribution and source and type of financing required, as observed in 2004.

The profile shows the general characteristics and examines the financing activities of small and medium-sized enterprises (SMEs) in Ontario in 2004, and compares them with the national averages.

The profile shows the general characteristics and examines the financing activities of small and medium-sized enterprises (SMEs) in the Atlantic Provinces in 2004, and compares them with the national averages.

The profile examines the financing activities of small and medium-sized enterprises (SMEs) in the Prairie Provinces in 2004, and compares them with the national averages.

The profile shows the general characteristics and examines the financing activities of small and medium-sized enterprises (SMEs) in Quebec in 2004, and compares them with the national averages.

The profile shows the general characteristics and examines the financing activities of small and medium-sized enterprises (SMEs) in British Columbia in 2004, and compares them with the national averages.

This report identifies ways of improving institutional investor awareness of and allocations to the Private Equity asset class.

This profile looks at small and medium-sized enterprises (SMEs) that received financing for risk capital through the informal marketplace in Canada. It examines the differences between these two types of investors and the impact of their investments on SMEs.

This report examines early-stage activity in Canada and Ontario since 1996, using statistics extracted from Macdonald & Associates' database and comparative U.S. data; coupled with the insights of senior venture capital (VC) professionals obtained in interviews conducted over the period December 2004–January 2005.

This report estimates the flow and potential stock of capital available for informal investment from respondents to the Survey on Financing of Small and Medium Enterprises, 2001.

This report explores the role of institutional investors (i.e. corporate and public sector pensions, insurance companies, endowments and foundations, and so forth) in Canada and the U.S.

This report provides a realistic assessment of the state of the Canadian VC market and aims to build a common understanding of the Canadian VC market, and foster private and public stakeholder coordination and collaboration to develop sound policies that will address key outstanding issues and gaps in the market.

This report provides a high-level profile of a small number of foreign venture capital (VC) investors, including both those that do and do not invest in Canada, and of Canadian firms financed by foreign and domestic VC funding.

This report aims to index and classify academic and professional research as well as public programs and policies that relate to financing by venture capital.

This report offers a complete picture of primary offerings in Canada by operating companies and capital pool companies (CPCs) from 1991 to 2000, based on the identification and analysis of 1891 share issues.

This report provides information with respect to the characteristics, practices, patterns and perspectives of Canadian informal investors. The work describes the nature of informal investments and identifies key parameters of the investment process, focusing on investors' investment behaviour.

This report documents the types of contributions, beyond the monetary investment itself, made by private investors to businesses in which they invest. It also presents a preliminary investigation of business owners' perceptions of the value of these contributions.

This report develops issues surrounding equity financing for SMEs in Canada through the venture capital, initial public offering (IPO) and post-IPO stages of development.

This report uses Porter's Five Forces Model of Industry Competitiveness to evaluate the status of the angel investment industry. The model details the five competitive forces acting upon the players in an industry — in this case, angels.

This report reviews the public literature regarding the supply of, and demand for, early-stage equity from private (informal) investors.

This report reviews the best practices of equity financing alternatives for small and medium-sized enterprises (SMEs) in the United States.

This report seeks to identify any misalignment between SME actual growth rates and SME sustainable growth rates. Using the "Higgins Sustainable Growth Model," the analysis reveals that, over the 2000–10 period, Canadian SMEs had the financial infrastructure in place and normal earnings capacity to support a rate of growth in sales of approximately 7.3 percent per year without the need to raise additional financing.

This paper investigates the determinants of discouragement for Canadian small and medium-sized enterprises (SMEs), regarding financing sought.

This paper investigates the economic impact of the Canada Small Business Financing Program (CSBFP) by using the 2004 edition of the Survey on Financing of Small and Medium Enterprises.

This paper examines the relationship between demand, supply and importance of trade credit, and financing constraints for Canadian small and medium enterprises (SMEs).

This report presents a review of the empirical and theoretical literature on market failures, gaps, and imperfections. On the basis of this review, this report advances a series of hypotheses that relate to various perceptions of financing gaps that pertain to SMEs.