Statements about the importance of innovation

Philippe Couillard

Premier of Quebec

(Decembre 13, 2017)

« The digital revolution is a major strategic issue for Quebec. It is not a luxury, it is not an option, it's a necessity to elevate Quebec to the same level as other industrialized societies with regards to the adoption of digital technologies.»

Gaétan Morin

President and CEO of the Fonds de solidarité FTQ

“Innovation is everything that a business can and does do in the short term to stay ahead of the competition. It’s the continuous search for new ways to improve your methods. And when it becomes an everyday thing, that’s when a culture of innovation develops. That’s exactly the kind of thinking we need to encourage in our businesses to increase their value.”

He insisted that innovation is not synonymous with invention. “It doesn’t mean having a brilliant idea, it means finding processes to improve the company’s organization, its services and its customer experience.”


Innovation is vital to your company’s success in today’s highly competitive business environment, especially as customers become more demanding and savvy.

Entrepreneurs need an edge to survive and stand out. Innovation can provide that edge—boosting your productivity, growth and profitability.

Yet, only a quarter of SMEs planned to invest in innovation and R&D in 2016, according to a BDC survey of 4,000 Canadian entrepreneurs.

Innovation doesn’t have to be a world-changing breakthrough. It can involve simple, incremental improvements in any area of your company.

Reduce waste and costs

Innovation can help you reduce waste in your business and leave you better positioned to focus on the long-term goals, rather than always putting out fires.

Innovative BDC clients have implemented operational efficiency changes such as streamlining order processing, eliminating production bottlenecks and reducing machinery and employee idle time.

The goal is to constantly be on the lookout for ways to eliminate waste. That can bring a host of benefits—lower costs, better profit margins, improved customer service and increased competitiveness. An efficiency expert can help you identify such innovations.

Chamber of Commerce of Metropolitan Montreal

Fundamentally, innovation means introducing something new into your business. This could be: improving or replacing business processes to increase efficiency and productivity, or to enable the business to extend the range or quality of existing products and/or services.


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