MONTREAL, April 24, 2026 (GLOBE NEWSWIRE) — Canada’s small- and medium-sized business owners (SMEs) are missing out on the AI advantage. Only 30% of Canadian SMEs used AI in 2025—yet those businesses were 24% more productive than those that didn’t. And the gap is widening.
The Business Development Bank of Canada (BDC) has launched its new LIFT initiative to help close it, giving entrepreneurs a practical path to adopt AI and compete in a more demanding economy. The goal is clear: supercharge Canadian AI adoption and give SMEs a fighting chance to outpace the competition.
Breaking down barriers to AI adoption
Too many entrepreneurs know AI matters but are stuck at the starting line. BDC is removing these barriers: LIFT—short for Lead with Innovation and Focus on Technology—pairs eligible business owners with expert AI advisors and offers flexible financing to kickstart their journey. LIFT isn’t for tech experts—it’s designed to support entrepreneurs across the full spectrum, from those just getting started to those ready to scale advanced solutions.
Fuelling productivity gains for 1,000+ Canadian entrepreneurs
With $500 million earmarked for LIFT, BDC is poised to help over 1,000 SMEs leap into AI, boosting productivity in a way business owners can really feel and delivering concrete impact on their bottom line.
Boosting Canada’s homegrown tech companies
This new program arrives as Canada asserts its economic sovereignty—building a homegrown tech ecosystem, reducing reliance on foreign technologies, and fostering Canadian innovation from coast to coast. LIFT prioritizes Canadian-developed AI tools and equipment, offering incentives to adopt homegrown solutions—with Canadian AI experts guiding them every step of the way.
“We hear it all the time: SMEs are stretched thin and finding time for AI is a real challenge. But their competition isn’t waiting. Companies using AI are more productive—and LIFT gets SMEs started fast by removing the barriers and delivering practical, real-world results.”
—Isabelle Hudon, President and Chief Executive Officer, BDC
“With the global economy undergoing rapid transformation, Canadian businesses must be able to adapt quickly to new innovations to stay competitive and seize emerging opportunities. With LIFT, BDC and the Government of Canada are giving entrepreneurs the momentum they need to modernize their operations, boost productivity, and accelerate growth. By providing practical tools, expertise, and targeted financing, this initiative will help strengthen Canada’s economy, energize the innovation ecosystem, and ensure that the benefits of these advancements reach businesses in every region of the country.”
—The Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions
“LIFT is about giving small and medium-sized businesses the tools and support they need to harness AI, boost their productivity today, and thrive as the digital economy accelerates. This is how we ensure Canadian entrepreneurs lead the way—not just keep up.”
—The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario
What the data shows—and why it matters
LIFT is driven by real numbers: if every SME had the same level of technological maturity as the most advanced companies in Canada, GDP could grow by up to 14% according to an upcoming BDC study—underscoring the urgency of action. And the call to action is clear: while AI adoption alone is associated with higher productivity, BDC research shows that overall SME productivity could rise by up to 38% if businesses across the country reached a very high level of digital maturity, reversing a decades-long struggle to keep pace with our G7 peers.
About LIFT
Designed for businesses ready to scale, LIFT helps eligible Canadian SMEs boost efficiency, resilience, and long-term performance. Start with one project, learn fast, and build unstoppable momentum. It offers:
- Digital tools, data infrastructure, cybersecurity, and Canadian AI applications
- Advanced equipment that drives productivity—automation, robotics, and cutting-edge machinery
- Expert advisory support to identify opportunities, validate value, and ensure successful implementation
Eligible businesses can access loans at no-brainer rates, ranging from $25,000 to $5 million. Flexible repayment options—even postponing principal payments for up to two years—let you invest in your future, your way. Conditions apply. To learn more, click here.
About BDC, Canada’s bank for small- and medium-sized business owners
BDC focuses on small- and medium-sized business owners, providing them financing, investment, and advice. As Canada’s development bank, we also support entrepreneurs who don’t fit the traditional mold—working with a network of partners—and help develop underserved markets to unlock economic potential. Our mission is to build strong, resilient businesses that drive Canada’s economic growth. BDC is a perennial Canada’s Top 100 Employer and B Corp certified. Learn more at bdc.ca or connect with us on social media.
Media contact:
mediainfo@bdc.ca
1 844 625-8321
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/acbabbbe-c85f-4804-9685-f0d00b237514
