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Financing Global Gazelles

2. Introduction

The Small Business and Policy Branch of Industry Canada issued a Request for Proposal (RFP) to develop a working definition of "Global Gazelles", and to analyze financing issues faced by such firms. The RFP specified the following four objectives as the scope for this assignment:

• Identify both historical and current financing trends.
• Develop a comprehensive working definition of the term "global gazelle".
• Gather information on the financial needs of global gazelles and their financing experience.
• Document international global gazelle lending and investment trends and behaviors.
• Identify key financial issues and barriers, including taxes and other government policies and programs, that impact on the ability of Canadian global gazelles to secure financing.

This research assignment was conducted in three parts – web-based research, interviews with industry experts and interviews with global gazelle entrepreneurs.

1. Review of literature on the nature of global gazelles and the environment in which they operate.

Extensive web browsing was conducted using key words, searching business publications and following up on sources identified by interviewees.

2. Interviews with selected industry experts in the government sector and private lending institutions.

Structured telephone interviews lasting from 15 to 45 minutes, based on a customized interview guide, were conducted with six knowledgeable government officials and two associations.

The interview guide was designed by the research team to obtain observations from industry experts on the nature and financial environment of global gazelles.

3. Interviews with selected global gazelle companies and review of case studies supplied by Industry Canada.

Structured telephone interviews lasting from 15 to 45 minutes, based on a customized interview guide, were conducted with three companies that qualified as global gazelles.

The interview guide was designed to capture experiences and lessons learned from global gazelle entrepreneurs.

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