I am wound up this morning and it is before my first cup of coffee. There is just so much content to blather on about.
Take this BDC annoucement. Its venture capital division has been ranked among the world’s top 100 venture capital funds.
Problem is in its entire portfolio there are only four NB companies and three of them are NBTel offshoots (a large company that fostered an internal entrepreneurial spirit that spilled out after the deconstruction of the company). There is only one NB company not in the IT area that has received VC from the BDC.
You know my position on this. Attracting investment into our growing firms is every bit as important as attracting greenfield investments (companies setting up operations here). We are not doing a good job of attracting companies and we are not doing a good job of attracting investment into our companies.
New Brunswick has the least number of publicly traded companies of all the provinces (or maybe second lowest?). All of the big VC firms in Canada have almost no investments in New Brunswick.
We aren’t attracting investment. Period. Outside of a few large projects (like the potash expansion) and government projects (like highways and bridges) we are not attracting investment.
And that is what is holding up economic development.