December 02, 2011 - Saskatoon, Saskatchewan
Improving the long-term productivity and competitiveness of Saskatchewan’s manufacturers and processors is the objective behind a new federal-provincial initiative. To optimize their business performance, Saskatchewan small- and medium-sized businesses are engaging in a productivity benchmarking course managed by the Saskatchewan Economic Development Association (SEDA) in partnership with the Business Development Bank of Canada (BDC). BDC is also offering on-site comprehensive operational assessments which will generate additional techniques for businesses to improve their overall productivity.
The Honourable Lynne Yelich, Minister of State for Western Economic Diversification, and the Honourable Ken Cheveldayoff, Minister of First Nations and Métis Relations for Saskatchewan, on behalf of the Honourable Jeremy Harrison, Saskatchewan Minister of Enterprise and Minister Responsible for Trade announced a shared investment of $515,500 to increase the productivity and profitability of Saskatchewan’s manufacturers and processors.
“Our Government is committed to ensuring that small- and medium-sized businesses have the opportunity to succeed and create new jobs for Canadians,
” said Minister Yelich. “This project will help Saskatchewan businesses revamp their manufacturing processes and operations, thereby increasing productivity and enabling them to become more competitive nationally and internationally.
”
“Small business is big business in Saskatchewan, and supporting training to improve business skills is a win-win for all,
” said Minister Cheveldayoff. “SEDA has done excellent work in economic development programming. This initiative will produce better business performance with the end result of more jobs, more investment and more opportunity in our province.
”
SEDA and BDC delivered several workshops last spring with 55 small to medium-size manufacturers and/or processors participating. Attendees took away 10 specific strategies to improve their manufacturing productivity. BDC plans to conduct a rigorous diagnostic of business operations for 45 selected firms and will make targeted recommendations to improve their productivity. Twelve months after these operational assessments, BDC will return to measure the selected firms’ productivity improvements. To date, twenty-six companies have participated in the BDC assessment.
The private sector is contributing $315,000 to this initiative and BDC is contributing $228,000, along with its expertise. The federal and provincial contribution of $515,500 is provided through the Canada-Saskatchewan Western Economic Partnership Agreement (WEPA). The total project costs are $1,058,500.
“BDC is proud to partner with SEDA, Western Economic Diversification, and Enterprise Saskatchewan to improve the productivity of Saskatchewan manufacturers and processors,
” said Lyndon Holm, Vice President, Financing and Consulting at BDC. “Under this initiative, BDC will provide increased access to knowledge and resources that will allow local entrepreneurs to make the appropriate productivity investments and become more competitive.”
A comprehensive productivity initiative specifically targeting Saskatchewan’s manufacturing and processing sectors has never been offered before. A final report, compiled by BDC and SEDA, will provide Western Economic Diversification and Enterprise Saskatchewan with an assessment of trends in the sector and directions for future program development. The project’s objective is to increase the competitive position of manufacturers and processors in the national and international marketplace.
“SEDA is excited to be working alongside our partners to create additional economic capacity in Saskatchewan,
” said Executive Director, Verona Thibault. “This project is unique and relevant, emphasizing the key role that productivity plays in regional competiveness.
”
Canada’s business development bank, BDC puts entrepreneurs first. With almost 1,900 employees and more than 100 business centres across the country, BDC offers financing, venture capital and consulting services to 29,000 small and medium sized companies. Their success is vital to Canada’s economic prosperity.
For additional information, contact:
Jerra Byrne
Office of the Minister
Western Economic Diversification Canada
Tel: 613-954-8097
Email: Jerra.Byrne@wd-deo.gc.ca
Joanne Johnson
Director, Public Affairs
Enterprise Saskatchewan
Regina, Saskatchewan
Tel: (306) 787-7967
Email: joanne.johnson@enterprisesask.ca
Verona Thibault
Saskatchewan Economic Development Association
Saskatoon, Saskatchewan
Tel: (306) 384-5817
Email: verona.thibault@seda.sk.ca
Geoffrey King
Director, Public Relations
Business Development Bank of Canada
Tel: (514) 496-4351
Email: geoffrey.king@bdc.ca
WD Toll-Free Number:1-888-338-WEST (9378)
Teletypewriter (TTY): 1-877-303-3388
WD Website: www.wd-deo.gc.ca.
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