President's Message
- Brant Hasanen

I am pleased to introduce the 2022 Venture Kamloops Annual report on behalf of the Venture Kamloops Board of Directors. As President of the Board of Directors, I appreciate the ability to witness first-hand the strength, and tenacity of the dynamic economy that Kamloops enjoys and deserves.

Read More

Executive Director’s Message
- Jim Anderson

2022 is behind us – are things back to normal? That is a question that we at Venture Kamloops ask ourselves everyday. In many ways, yes things are more normal in the Kamloops economy. But in many other ways, things are anything but what we have become accustomed to. This message marks the third successive Venture Kamloops Annual Report in which I’ve used the word “pandemic,” a term I don’t believe I’d ever written before March of 2020. But if we are to try and determine what is now normal for business, then this must be done in terms of the environment before and after the COVID-19 pandemic.

Read More

The VK Team


The team at Venture Kamloops works to provide the most up-to-date information to those interested in starting their business in Kamloops or expanding their current operations in the city. Contact us today and book an appointment for a confidential, no-obligation consultation to discover how we can support you.

Meet Our Staff Meet Our Board

VK Programs


VK Workforce Development

The VK Workforce Development Program is the newest initiative of Venture Kamloops, designed to support businesses in accessing various government and non-government hiring programs. The program aims to connect businesses with the resources they need to hire and train employees at all levels of employment, from entry-level to highly skilled and senior management. Through the VK Workforce Development Program, businesses in Kamloops will have the opportunity to strengthen their teams with local, national or international talent.

Start Here

Venture Kamloops' Start Here program is a centralized resource hub that acts as the first point of access for entrepreneurs looking to start or grow their business in Kamloops. The program provides a comprehensive directory of resources, including access to funding, mentorship, and training opportunities from nine entrepreneurial support organizations in Kamloops. By offering a one-stop-shop for entrepreneurial support, the Start Here program streamlines the process of accessing resources and helps entrepreneurs navigate the complex landscape of business support services in Kamloops.

VK Accelerate

The VK Accelerate Program is focussed on helping early-stage or transitional entrepreneurs secure their first physical location by connecting them with the necessary resources and expertise. 2022 saw multiple entrepreneurs take part in the program, which provided them with connections to funding opportunities, mentorship, as well as various business and real estate connections. Through the program, entrepreneurs were able to accelerate their business growth and establish a strong foundation for long-term success.

VK Venture Advisors

The VK Venture Advisor Program is a mentorship initiative designed to support and guide entrepreneurs in launching or scaling their business. In 2022, the program had nine entrepreneurs from various industries participate in the program. Through the program, the entrepreneurs received guidance and support from experienced business leaders, as well as access to resources and networking opportunities to help them grow their businesses.

City Gardens, by Kelson Group

VK Inside Track

The VK Inside Track Program is an initiative of Venture Kamloops that aims to foster relationships with outside real estate developers. The program provides developers with up-to-date market information and other desired information to help them make informed decisions about investing in Kamloops' high-demand real estate market. Venture Kamloops aims to foster collaboration and investment in the region, helping to drive economic growth and create new opportunities for businesses and residents alike.

VK Program Highlights
Interactive Timelines


Nick and ChristyHarvest Moon Bakery

For Nick and Christy, baking had been a long-time passion shared with friends and family. Thankfully for the Kamloops community, they aspired to open their own bakery so they could share their creations on a permanent basis! After a while market testing their products at local and regional farmer’s markets, they worked to make that dream a reality through hard work and dedication. Follow their journey to opening their bakery doors, and becoming one of Kamloops go-to local baked good providers!

Nicole DuffSlypod - Dog Poop Caddy

Nicole Duff entered 2022 with big goals for her new start-up. The creator of the SlyPod™ Dog Poop Caddy took part in the VK Venture Advisors Program to sharpen the business case for her pet product. With her eyes set on pitching to Dragons’ Den Season 17, Nicole reached a national audience when her episode aired in October 2022. She even cleaned up the competition by accepting an offer to partner with a Dragon to invest in her growing business!

VK Metrics


Business Assisted; Categorized by:

Business Size (Number of Employees)

Business Sectors

Nature of Assistance

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

Social Media Engagement

Website Analytics

Economic Snapshot 2022


Employment Statistics

City of Kamloops (CY)
Total Population

Source: statscan.gc.ca

Population Change
2016 to 2021

Source: Statistics Canada Census Profile, 2021 Census of Population

Housing

All housing numbers obtained from the Association of Interior Realtors’ Monthly Market Stats. Average price is for single family homes.

Business Licenses

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

Excerpts from 2021 Financial Statements

Operating Results

For the Year Ended December 31 Budget 2022 2021
Revenue
City of Kamloops Economic development funding $639,733 $639,733 $639,733
Government Grants - $10,000 -
Donations in kind $40,322 $40,322 $35,100
Other Revenue - $162 $7,434
$680,055 $690,217 $682,267
Expenses
Administrative $352,219 $345,355 $318,856
Business Attraction $273,858 $262,101 $246,762
Business Retention and Expansion $139,721 $107,021 $120,648
$765,798 $714,477 $686,266
Annual Deficit ($85,743) ($24,260) ($3,999)
Accumulated Surplus, beginning of year $109,972 $109,972 $113,971
Accumulated Surplus, end of year $24,229 $85,712 $109,972

 

Financial Position

As at December 31, 2021 2022 2021
Financial Assets
Cash and cash equivalents $125,872 $153,938
Accounts Receivable $3,905 $1,646
$129,777 $155,584
Liabilities
Accounts payable $67,322 $70,480
Net Financial Assets $62,455 $85,104
Non-financial assets
Prepaid expenses $15,913 $16,750
Tangible capital assets $7,344 $8,118
$23,257 $24,868
Accumulated surplus $85,712 $109,972
VK FAST FACT
UNIVERSITY

TRU’s new $32 million Industrial Training and Technology Centre (ITTC) officially opened for learning.