Overcoming risk-aversion: Sailing through Canadian startup and second-stage financing.

TLDR: Securing financing for startups and second-stage businesses can be a challenge in Canada due to risk-aversion among banks and lenders. Many entrepreneurs have had to rely on personal networks and self-funding to get their businesses off the ground. Alternative financing options such as venture capital funds are available, but some entrepreneurs are hesitant to give up control of their businesses. Government programs like the Business Development Bank of Canada and the National Research Council’s Industrial Research Assistant Program can provide assistance, but conventional lenders are still reluctant to offer additional funding. This has led to a “big gap” between government financing options and what the banks are willing to provide. Startups are urged to be creative in finding funding and to seek support from investors and organizations that align with their business goals.