Annual Report 2017

President's Message
- A.J. (Tony) Ryan

It is my pleasure to present the Venture Kamloops 2017 Annual Report. Those of us that are fortunate enough to call the Kamloops area home know what a great community we have, and the entire Venture Kamloops organization – staff, leadership and Board of Directors – is dedicated to ensuring that Kamloops continues to be a dynamic community, with sustainable economic growth opportunities...

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Executive Director’s Message
- Jim Anderson

Running a business is hard work. Every day in business brings new challenges and adventures. But, with every challenge that is met and hurdle that is overcome, a business moves toward success. Our goal at Venture Kamloops is to help business reach success. Whether we’re dealing with an entrepreneur going into business for the first time, or an established business that is expandings...

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The VK Team


The team at Venture Kamloops come from a variety of backgrounds working with various associations, organizations, and businesses. The team works to provide the most up-to-date information to those interested in starting their business in Kamloops or expanding operations into the city. Contact us for a confidential, non-obligation consultation to discover how we can work for you.

Meet Our Staff Meet Our Board

Partnerships


Each year in the annual report, we highlight the partnerships we’ve built with other business organizations in the city. 2017 was no different. During the year, we partnered with Kamloops Chamber of Commerce, BDC, Community Futures, and Kamloops Innovation to hold the second annual LinkUp event. In addition to that signature event, we met with partner organizations over 125 times during the year as we continually seek to ensure that the service offerings of our organizations meet the needs of Kamloops business.

Venture Kamloops has working agreements in place with the Kamloops Central Business Improvement Association, the Northshore Business Improvement Association, the Kamloops Chamber of Commerce, Community Futures Thompson Country and the KIB Development Corporation. In addition to those agreements we continue to expand our relationships with Kamloops Innovation, The Open Door Group and others.

We believe strong partnerships between support organizations are at the core of a vital business community and we’re proud of our relationships with our Kamloops partners.

2017 Metrics


Business Assisted; Categorized by:

Business Size (Number of Employees)

Business Sectors

Nature of Assistance

Referrals to Other Resources

Performance Measures

Strategic Plan Implementation
(Number of Goals Achieved)

Note: This number includes strategic items marked as ONGOING. This includes items where there is no intended completion date, but substantial progress has been made.

Educational Opportunities
For Businesses

Economic Snapshot 2017


Employment Growth

Source: statscan.gc.ca

Unemployment Rate

Source: statscan.gc.ca

Population (Thompson/Okanagan)

Source: www5.statcan.gc.ca/cansim/

Housing

All housing numbers obtained from www.kamloops.ca/building/pdfs/2016/december.pdf
MLS® Activity Reports - Average Price is for single-detached units in Kamloops only.

Building Permits

Source: www.kamloops.ca/building/pdfs/2016/december.pdf

Business Licenses

Source: www.kamloops.ca/development/pdfs/16-DES-AnnualReport.pdf

2017 Events


Quarter 1 Quarter 2 Quarter 3 Quarter 4
Date Event Location
January 16 Chinese Consulate Spring Festival Vancouver
February 1 Risk Management Seminar TRU
February 3 Chinese Delegation Tour Kamloops
February 6 BCEDA Minister’s Dinner Vancouver
February 10 BCIC Regional Innovation Opportunities KIC
February 16 Urban Development Institute Presentation Kamloops
February 28 KCBIA Trade show Kamloops
March 7 RBC Roundtable - Youth Employment Kamloops
March 8 NSBIA AGM Kamloops
March 14 BC Tech Summit Vancouver
March 16 BC Trade & Investment Rep Presentations Kelowna
March 17 UDI Okanagan Luncheon Kamloops
Date Event Location
April 4 KEG Conference Kamloops
May 30 Presentation to Kamloops City Council Kamloops
June 5 KamPlan Café Kamloops
June 11 – 14 BCEDA Economic summit Victoria
June 15 Labour Market Partnership Presentation Kamloops
June 22 International Markets Presentation - First Nations Marketing Summit Kamloops
Date Event Location
July 3 One Belt, One Road Asian Trade Summit Vancouver
July 6 Presentation to NSBIA Board Kamloops
July 16 Kamloops Innovation Center Open House Kamloops
July 19 Roundtable – Philippine Consul General Kamloops
August 3 - 31 Kamloops Innovation Center Market Valuation Program Kamloops
September 11 Community Futures AGM Kamloops
September 14 Social Enterprise Workshop Kamloops
September 15 2017 Startup awards Kamloops
September 17 – 21 2017 IEDC Conference Toronto
September 25 Presentation to Rotary Club of Kamloops Kamloops
September 26 UDI Luncheon Kamloops
September 29 BCIC Regional Innovation Opportunities Nelson
September 29 People Republic of China Event Vancouver
Date Event Location
October 13 UDI Development Fundamentals Seminars Kelowna
October 15 – 21 BCEDA Training program Richmond
October 19 Start Up Canada Livestream Kamloops
October 20 BCIC Regional Innovation Opportunities Surrey
October 21 Chamber Business Excellence Awards Kamloops
October 22 BCMBA Games TRU
November 2 TRU Speed Mentorship TRU
November 3 BCIC Regional Innovation Opportunities Kamloops
November 15 UDI Pacific Vancouver
November 17 Transportation Master Plan Advisory Group Kamloops
November 23 LinkUp Kamloops
November 24 TRU Innovation Steering Committee TRU
December 13 Community Health Action Committee Kamloops

Venture Kamloops signature program, VK Venture Advisors has been supporting the entrepreneurial community and the economic development of Kamloops for the past 6 years. Participating entrepreneurs represent a wide variety of industries such as manufacturing, trades and technology, mining support and the retail/services sectors, all industries that make significant contributions to the local economy.

With over 55 Kamloops entrepreneurs through the program to date, generating 68 new full time equivalent jobs and numerous part time positions, it is not surprising that the VK Venture Advisor program has been cited as an example of a cornerstone program with a robust and successful business retention and expansion program.

The program is an excellent tool that engages local business and builds lasting connections within the community.

VK Venture Advisor Participants 2017

  • Performance Hoops
  • Bay North America
  • Simply Said
  • Northern AI
  • Small Business Incubator
  • Be Teased
Meet the Advisors

Excerpts from 2017 Financial Statements
Operating Results


For the Year Ended December 31 Budget 2017 2016
Revenue
City of Kamloops Economic development funding $608,803 $608,803 $596,866
Donations in kind - $33,550 $30,500
Government Grants
   Federal $3,500 $3,615 $6,538
   Provincial - $29,212 $43,651
   City of Kamloops developer attraction campaign - $37,500 -
Interest & other revenue - $5,545 $4,870
$612,303 $718,225 $682,425
Expenses
Administrative $267,191 $298,987 $303,365
Business Attraction $227,058 $231,658 $148,295
Business Retention and Expansion $112,332 $108,232 $198,339
$606,581 $638,877 $649,999
Annual Deficit $5,722 $79,348 $32,426
Accumulated Surplus, beginning of year $104,299 $104,299 $71,873
Accumulated Surplus, end of year $110,021 $183,647 $104,299

Excerpts from 2017 Financial Statements
Financial Position


As at December 31 2017 2016
Financial Assets
Cash and cash equivalents $231,844 $138,935
Accounts Receivable $2,183 $4,517
$234,027 $143,452
Liabilities
Accounts payable $62,155 $51,161
Deferred Revenue - $5,000
$62,155 $56,161
Net Financial Assets $171,872 $87,291
Non-financial assets
Prepaid expenses $4,989 $6,844
Tangible capital assets $6,786 $10,164
$11,775 $17,008
Accumulated surplus $183,647 $104,299

Economic Indicators Report


Each month, Venture Kamloops compiles local economic data and delivers it to your inbox. Stay up-to-date with the most relevant information for business in Kamloops by subscribing the Venture Kamloops Economic Indicators Report.

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