By Surbhi Bhatia
Born and raised in Vancouver, and relocating to South Delta in 2010, Rosanne has seen first-hand the impressive growth and development that entrepreneurs have brought to the Lower Mainland, and particularly the Fraser Valley over the last 25 years. Since joining the Business Development Bank of Canada (“BDC”) in 2006, she has structured financing and curated consulting for hundreds of entrepreneurs in the BC and North market. Sitting down with Rosanne, it was evident that her passion hasn’t waivered for entrepreneurs after all these years, and her pre-BDC life and work experience set the stage for what is now, her life’s work.
Growing up, she held numerous part time roles while attending high school, university (UBC, BA), BCIT (Certificate in HR Management) and later the University of Hertfordshire (distance, MBA). Rosanne feels that two foundational leadership roles – airline catering and Labatt Breweries – aided her to gain considerable operations management experience at a fairly young age. These roles, she believes have proved invaluable throughout her banking career which spans across BDC’s three core business lines: Financing, Advisory Services, and Growth, and Transition Capital. Through this multi-business line experience she has emerged as a talent spotter and people developer; keen to champion and develop those around her. One thing was clear, she has high standards.
Still, throughout her tenure at BDC, she has also found time to give back to her own community of Delta, and her alumni. As Board Chair for the Delta Chamber of Commerce, she is active in advocating for businesses, as well serving as mentor with the UBC Blossom Mentorship Program for young women in business.
Today, Rosanne is the Vice President, Finance and Consulting for the South Fraser Region, and she is grateful to lead several business centres made up of exceptional people that are solely dedicated to serving entrepreneurs. These teams support entrepreneurs from Richmond to Chilliwack and everywhere between, south of the Fraser River. Of note, they support entrepreneurs of all sizes and in all stages of growth, with dedicated resources for women, indigenous and black entrepreneurs. Moreover, newer initiatives include green loan financing to encourage entrepreneurs to improve the energy efficiency of their buildings or achieve a certification such as LEED or BOMA BEST.
In speaking with her about the Fraser Valley, she feels there is “incredible potential within this entrepreneurial community”. Moreover, “South Asian entrepreneurs are driven, willing to take risks, and highly resourceful to see things through when the going gets tough. Ultimately, they are a fast-growing segment of entrepreneurs in this market, and in Canada.” Many new Canadians become entrepreneurs, and she wants to encourage all to seek out BDC as they grow their business.
BDC supports businesses with real estate financing up to 100% of the purchase price plus renovations, as well as tenant improvement loans. This high leverage offering is designed to keep as much working capital as possible in the business, ultimately to help the business grow faster. Also, BDC offers long-term fixed rates, so business owners have the option to lock in their rate for up 20 years. It also provides equipment financing with interest-only periods for installation, commissioning, selling of the product and collection of cash, prior to repayment of principal. And finally, it provides businesses with working capital term loans, the lifeblood of a business with flexible repayment terms and extended interest-only periods.
In our meeting, she also talked passionately about the bank’s advisory services offerings, and how they are the best kept secret in BDC. They provide businesses with consulting on everything from strategic planning and financial management to operational efficiency and certification in HACCP and ISO. Rosanne shares that “many entrepreneurs, while skilled in their trade, may not have formal business training, they didn’t go to business school and face challenges in certain aspects. For example, they may gauge the health of their company by how much cash they have in their bank account, and yet have no idea on which products and or services they make or lose money. By understanding their financial health, budgeting, and forecasting their cash flow, entrepreneurs can make better and more timely decisions”. She also highlights that BDC offers many free online tools and resources. The Bank also conducts significant research on issues impacting small and medium-sized businesses in Canada. Whether it be research on AI, productivity, the benefits of energy-efficient renovations, or their investment and financing outlook survey, there is value for every Canadian entrepreneur by accessing these resources.
