Letter from our CEO, Chairman and Founder
Why it's time to Back Canadian Business First
On December 14, 1987, BFL CANADA opened its doors in Montreal. We didn’t start with much — just a few desks, a vision, and a belief that Canadians could compete and serve Canadian business interests better than anyone.
Today, BFL is one of the largest independently owned insurance brokers, risk management consultants, and employee benefits firms in this country. We’re still 100% Canadian-owned. We’ve grown to 27 offices — not just in major financial centres, but also in places like Amherst, Thunder Bay, and Salmon Arm. We employ more than 1,500 Canadians and have clients in more than 100 countries around the world.
We didn’t get there by accident. We built this from scratch — through grit, conviction, and a belief in our people — building the strength to compete not only across Canada but around the world.
But there’s something I need to say, and I hope you’re listening.
“Canadian businesses — the ones that are truly built here, owned here, and that recruit here — need more than appreciation and polite applause. They need opportunity. They need a Canadian-first mindset. Simply put, all things being equal, Canadians should be giving Canadians the first shot.”
In the US, that’s standard operating procedure. American businesses support American firms. Government contracts generally flow to American suppliers. There’s national pride and patriotism baked into the system. Canada, however, has been slower to embrace that mindset. But it’s time we caught up. The moment demands it.
In BFL’s early years, time and time again, I watched with dismay as Canadian businesses and organizations chose to contract with foreign-owned firms. I fully understood the reasons: we were small and they were big, with deep pockets and legacy brand names.
We knew what we were up against, but we persevered, because we believed in our homegrown vision and we believed in our team. We put together solid proposals. Eventually, we started winning those mandates — not because we were the biggest, but because we put forward the best presentation. We listened, we understood, and we delivered.
Those wins changed the course of our company and made us a national firm. But more than that, it proved something we’d believed in all along: when given the chance, Canadian firms can and will deliver. Our industry-leading client retention rate merely reinforces that our growth hasn’t come from undercutting prices or chasing volume, but from consistently delivering quality and earning long-term loyalty, including negotiating competitive risk transfer programs.
“I’m not calling for isolationism. I’m calling for recognition and for all of us to open our eyes to the world-class talent and capability that’s right here — in our cities, our provinces, and our national networks. I’m calling on governments to craft policies that give Canadian-owned businesses a fair shot. I’m calling on business leaders to look first at home, not south or abroad.”
This isn’t about BFL alone. We’re doing fine. But there are countless Canadian firms across many sectors who’ve built from the ground up, just like we did. They’ve earned their place at the table. They’ve built companies with culture, innovation, and deep community roots.
It is a struggle. Again, our early years weren’t easy. But we stayed the course. We shared equity with employees while other firms hoarded it. We opened up niche markets. We built a team that believed in doing business differently.
And it worked.
What we need now more than ever is a shared shift in attitude. A pride not just in our flag, but also in Canadian entrepreneurship. We need to stop thinking we’re second best, or that bigger means better, or that only global names can handle big accounts.
Supporting Canadian-owned businesses helps address this by strengthening local value chains, encouraging innovation, and helping our firms scale. It also keeps investment, talent development, and decision-making anchored here in Canada.
We need to bet on ourselves.
“Because here’s the truth: no one’s coming to rescue Canadian businesses. It’s up to us — to our provincial and federal governments, our business communities, and our citizens — to create the momentum.” I had already begun preaching this close to 40 years ago: I knew we needed to do this on our own. Now, more than ever, it’s time to pitch in!
So yes, I’m reaching out. To decision-makers. To buyers. To executives and entrepreneurs. If we are serious about building a strong, resilient Canadian economy, it starts with action. And it starts with us.
Barry F. Lorenzetti
Founder, Chairman of the Board and CEO
BFL CANADA
