British Columbia has one of the most attractive investment climates for business in North America.
Manufacturers, for example, enjoy benefits such as:
- Strong economic fundamentals and market opportunities associated with major, long-term projects.
- Low tax rates (personal and corporate) that rank BC among the lowest in Canada – complemented by sales tax exemptions on machinery and tax credits for research and development expenditures.
- Competitive operating costs including low cost electricity relative to elsewhere in Canada or the US.
- Competitive wage rates reflecting a balanced and growing labour pool.
- Growing labour supply with government initiatives that are driving labour mobility into BC and training our existing workforce assets.
- Welcoming communities that keenly encourage new manufacturing and service investments.
- Financial support for capital investments and job creation in northern BC. Contact Northern Development Initiative Trust
Northern Industry Expansion Program
This loan guarantee partnership agreement targets small and medium-sized businesses in central and northern BC’s resource processing, manufacturing and supply sectors. It provides eligible projects and borrowers with the opportunity to access loan guarantees from Northern Development for up to 25% of a loan with the Business Development Bank of Canada. A total of $15 million has been dedicated to this program by Northern Development. This loan guarantee program expands the capital pool available to small businesses in the region. » Learn more
Competitiveness Consulting Rebate
The Competitiveness Consulting Rebate provides small and medium sized manufacturers, resource processing companies, and their first line suppliers with a rebate of 50% of the cost of business competitiveness consulting. This will increase productivity, revenues, and profitability for operations located within the Northern Development Initiative Trust region. » Learn more
Invest British Columbia
Provides information about the incentives that British Columbia provides including: provincial tax credits, exemptions and deductions to encourage business investment and innovation.
http://trade.britishcolumbia.ca/Invest/Pages/BusinessIncentives.aspx
New Business Investment and Acquisitions
Canada is one of the world’s most open economies for foreign investment. Canada welcomes and actively encourages investment by non-Canadians, and places few requirements or restrictions on foreign investors.
http://www.ic.gc.ca/eic/site/ica-lic.nsf/eng/h_lk00007.html
Business Credit Availability Program
In Budget 2009, the Government announced the launch of the Extraordinary Financing Framework (EFF). The Business Credit Availability Program (BCAP) is one element of the EFF, dedicated to improving access to financing for Canadian businesses by providing new resources and flexibilities to Export Development Canada (EDC) and the Business Development Bank of Canada (BDC). Through this program, EDC and BDC will provide at least $5 billion in direct lending and other types of support and facilitation at market rates to businesses with viable business models whose access to financing would otherwise be restricted. By working in close cooperation with private sector lenders, this program will fill gaps in market access and lever additional lending by private sector institutions in cases where joint participation facilitates private action.
http://www.fin.gc.ca/bcap-pce/description-eng.asp
BC Provincial Nominee Program
The British Columbia Provincial Nominee Program (BC PNP) accelerates the Permanent Resident application process for skilled and/or experienced workers, experienced business persons and their family members who want to settle in BC permanently. It allows nominees to apply for Permanent Resident status through Citizenship and Immigration Canada (CIC) under the fast-tracked Provincial Nominee stream – which can be faster than applying through many federal immigration streams.
http://www.welcomebc.ca/wbc/immigration/come/work/about/index.page
Mineral Tax Credits
To encourage new mine development in the province, the new mine allowance provides for an allowance of one-third of the capital costs of new mines and expansions of existing mines that begin production in reasonable commercial quantities before 2016. This means that 133.3% of qualifying capital expenditures can be added to the cumulative expenditure account of the mine.
www.sbr.gov.bc.ca/business/Natural_Resources/Mineral_Tax/allowance-credits-exemptions.htm
Eligible Business Corporation Tax Credits
Tax credits are issued to investors only if the Eligible Business Corporation raised the equity capital under a pre-approved authorization from the Investment Capital Branch and is in compliance with the Small Business Venture Capital Act(the “Act”).
http://www.cse.gov.bc.ca/TRI/ICP/VCP/EligibleBusinessCorporation/Pages/TaxCredits.aspx
Export Development Canada
Export Development Canada (EDC) is Canada’s export credit agency, offering innovative financing, insurance and risk management solutions to help Canadian exporters and investors expand their international business.
http://www.edc.ca/english/index.htm
Canadian Manufacturers & Exporters
The Lean Manufacturing Certificate Program is a Six Day Program (6 modules) designed to meet the training needs of companies adopting the ‘lean approach’ to doing business. It provides theory and application of the key lean tools. It is also intended to allow them to better support the lean approach of their companies who are serious about improving profitability through reducing waste.
http://bc.cme-mec.ca
MITACS
MITACS is a federally and provincially funded research network with offices located coast to coast. MITACS brings together academia, industry and the public sector through research and training initiatives to develop cutting edge tools vital to the knowledge-based economy.
http://www.mitacs.ca
Other Online Resources
Small Business BC
www.smallbusinessbc.ca
International Trade Training for Small Business
www.tradestart.ca
Business Guide to Canadian Government Programs
www.businessguide.net
Small Business Funding Center
www.canadagrants.grants-loans.org
Canadian Assistance Programs Directory
www.can-grants.com
Canada Business Services
www.canadabusiness.ca/eng/sgc-59/
