Calgary Businesses Gain Access to Expanded Financing Options
Increased financing is now available for Calgary businesses, according to the latest Biannual Survey of Suppliers of Business Financing. Released today, November 7, the survey provides revised data for the latter half of 2024 and fresh projections for the first half of 2025. This expansion of financing avenues is a welcome development, crucial for fostering local growth and sustainability.
Calgary’s business community, especially small and medium-sized enterprises (SMEs), has been navigating a challenging economic environment, with many identifying rising costs and access to capital as significant obstacles to growth. The Calgary Chamber of Commerce recently highlighted that 52 percent of local small businesses cite rising costs as a key challenge, with 19 percent feeling pessimistic about the next 12 months. Improved access to capital can help alleviate some of these pressures, supporting businesses in sectors vital to Calgary’s diversification, such as technology, life sciences, and creative industries.
This injection of available funds is expected to stimulate economic activity across the city, encouraging development and innovation at a time when Calgary is actively working to establish itself as an innovation capital. By providing more robust financial backing, Calgary businesses can better seize opportunities, drive job creation, and contribute to the city's long-term prosperity.
