I understand that banks are in the business of making money and have certain criteria to loan money. I also understand that the Federal government has made available considerable money to Canadian Banks, BDC and EDC through repurchasing mortgages or outright grants. However, what doesn’t seem to have happened is an attitudinal change in these institutions to stimulate the flow of credit to businesses. The tolerence for risk appears to remain relatively consistent. In order for the government stimulus incentives to take root what will be necessary is a more entrepreneurial attitude from our leading financial institutions.

I have heard it said getting money for the bank is like having someone give you an umbrella on a sunny day and then taking the umberella away when it rains. Well … we are currently in a downpour and to have any chance of making it to the next sunny day someone is going to need to be giving out umbrellas not taking them away.

Ian Graham

Filed under: Commercialization, Entrepreneurship by Ian
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