In 2009, the minister of finance announced the budget that had the condition for the bank to help auto and heavy equipment dealers who suffered from the global financial crisis, by providing them new financial products and services. Now on January 28, 2009, the president and CEO of Business Development Bank of Canada (BDC) is contemplating the effects of this announcement. The bank has offered various financial services and products to Canadian business, including consulting services, venture capital with a primary focus on SMEs. It is relied upon both to earn a rate of return on common equity either equal or greater than the government’s average strategic capital cost and to complement private banks and other financial institutes. The budget secrecy surprised the president and he conducted a meeting with his staff, senior government authorities and his board chair for two days. It required him to rapidly introduce this unique line of business along with balancing the complex governance and external environment that his institute encounters.
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