GAZELLES PROGRAM
Quebec Ministry of Finance and Economy
Élaine Zakaïb, Minister for Industrial Policy and the Banque de développement économique du Québec, is on the hunt for gazelles, the small and medium-sized businesses considered to be the most promising in Quebec.
PROGRAM OBJECTIVE
Create a club of 300 companies, 100 per year, already considered growth champions, and increase their sales by an average of 20% over 5 years. This program aims to provide them with the resources they need to foster this rapid growth.
Ultimately, a minimum of 6 companies will have to achieve sales of $200 million by 2017, and 20 after 10 years.
BETTING ON GROWTH
To achieve this, the government is preparing to provide them with a brand new ecosystem of business services, where officials from the Ministère des Finances et de l’Économie du Québec, the Centres locaux de développement (CLDs) and Investissement Québec will work together to bring the projects of the 300 gazelles to fruition.
Each company will have a project manager assigned within the government apparatus.
PROGRAM CONTENT
Companies will be able to benefit from the help of specialists who will work with them to define a minimum 3-year development plan. Tailor-made training courses will also be offered by the École d’entrepreneurship de Beauce (EEB), as well as business intelligence services and assistance with company acquisitions by Investissement Québec.
CALL FOR APPLICATIONS
The call for applications will run from February 24 to March 28, 2014, and the selected companies will be announced later in the spring.
Companies wishing to be among the 100 Gazelles of 2014 can contact their regional directorate of the Ministry of Finance and the Economy. They will have to provide certain data that will make it possible to assess their financial performance, their international reach, their productivity and their management team.
SELECTION CRITERIA
The 300 gazelles will be selected by a “national committee of experts” according to the following 4 criteria:
- Radiation;
- The drive to improve productivity;
- The company’s financial performance and dynamism;
- The ability to sustain accelerated growth.
Gazelles must have been in business for at least 3 years, have sales of at least $2.5 million, fewer than 250 employees and be Quebec-owned.
The program will give priority to companies in the manufacturing sector. However, we still expect to recruit 25% of service companies, part of the driving tertiary sector, such as telecommunications, professional business services and financial intermediaries. It should be noted that a minimum quota of 3 companies in each of Quebec’s 17 administrative regions, including one per region headed by a woman if possible, must be ensured.
For more information on this government program, please contact us.
Liliane Fortier, CPA, CA, LL.M. Fiscal authorities.
Partner, Canadian Taxation, SR&ED
514 878-0258
lfortier@demersbeaulne.com
Partner, Canadian Taxation, SR&ED
514 878-0258
lfortier@demersbeaulne.com
