President's Message
- Tom Dickinson
As president of the Venture Kamloops Board of Directors it gives me great pleasure to present to you our 2019 Annual Report. By several measures, the past year was a record one for our organization. Staff worked with more Kamloops businesses than ever before and realized success from new programs like VK Accelerate.
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Executive Director’s Message
- Jim Anderson
2019 was the first year of the board’s new 5-year strategic plan which provides staff with new and exciting opportunities and direction. In addition to Business Retention & Expansion and Business Attraction, staff have expanded our core areas, or “Economic Building Blocks” to include focusses on Information & Resources and Workforce Capacity.
Read MoreThe 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 BoardEconomic Development Initiatives 2019
Balance in Kamloops
Venture Kamloops’ most recent initiative launched in 2019, and serves as a resident/workforce attraction campaign. The campaign, which is entitled ‘Balance’ will continue to grow and evolve over the next year. The theme of this initiative is based on testimonials from real people who have left busy urban areas for the multitude of advantages of life in Kamloops.
LinkUp 2019
The 4th annual LinkUp Business Development Summit in November 2019 aimed at the future of local business. Themed “Adapt and Innovate”, this year’s event featured entrepreneur roundtables, business support panels, networking and tradeshow opportunities, and was complemented with a captivating keynote from Max Valiquette. 2019 marked the second year in a row that the award winning event was sold out, and continues to ensure our business community walks away educated and motivated!
VK Programs
Start Here
Through the Start Here portal, local entrepreneurs can make their first contact with five economic development organizations for business guidance and facilitated access to an integrated resource network. Accessing local resources like business planning, employment skills training, finance connections and more is made easy with Start Here. Community Futures Thompson Country (CFTC), WorkBC, Venture Kamloops, Kamloops Innovation, and TRU Generator are committed to collaboration, and to supporting entrepreneurship in Kamloops.
VK Accelerate
Following a successful pilot in 2018, VK Accelerate welcomed two exciting new businesses in 2019 who were looking to get their business started or expanded into their first brick and mortar space. VK Accelerate connects entrepreneurs like Fern & Frond and Franca Muraca Notary Public Inc. to everything they need early on, including commercial real estate, marketing, interior design, media coverage, business coaching and more! Starting a business can be hard, so applying to VK Accelerate provides six months of one-on-one support from professional services and business experts.
VK Venture Advisors
Each month, a local entrepreneur participates in the VK Venture Advisors program. This program allows the entrepreneur to pitch their business idea to a panel of local business professionals and industry experts and receive constructive feedback, insight and connections regarding the business idea. What’s the best part? It’s FREE! Our expert advisory panel volunteers their insight, mentorship, and connections to help small business grow.
VK Inside Track
Venture Kamloops has adopted an integrated approach to sustainable growth. That’s why we offer market orientation to Kamloops real estate for developers who are interested in capitalizing on the opportunity in our growing city. The Inside Track program is designed to deliver relevant investment information to developers in the region and our province. Venture Kamloops is committed to targeting these efforts for developers in other markets, while highlighting the financial prospects and resources in Kamloops.
Business Successes
Chelsea HoganFern & Frond
After re-locating her family and her business to Kamloops from Alberta, Chelsea Hogan has taken the local wedding scene by storm. Chelsea first made contact with Venture Kamloops through the Start Here partnership and recognized quickly that the VK Accelerate program would be a great fit for her goal of opening her first studio. To give you a better idea of her journey, have a look at some of Fern & Frond’s significant milestones!
Cassidy WattCassidy Watt Artistry Collective
After working as a manager for MAC Cosmetics, Cassidy Watt decided to make the transition into owning and operating her own makeup artistry business. Over the past 4 years, Cassidy Watt Artistry Collective has been one of the biggest names in local weddings, receiving several awards, as well as coverage by major media outlets. With eyes on expansion, Cassidy connected with the VK Venture Advisor program to seek out advice and guidance from a wide range of professionals. Have a look at her journey as an entrepreneur and where she is today.
VK Metrics
Strategic Plan Implementation (Number of Goals Achieved)
Economic Snapshot 2019
Employment Statistics
Source: statscan.gc.ca
Housing
Building Permits
Excerpts from 2019 Financial Statements
Operating Results
| For the Year Ended December 31 | Budget | 2019 | 2018 |
|---|---|---|---|
| Revenue | |||
| City of Kamloops Economic development funding | $633,399 | $633,400 | $620,979 |
| Donations in kind | $34,700 | $34,700 | $34,700 |
| Government Grants | |||
| Federal | - | - | $1,844 |
| Other Revenue | - | $5,013 | $3,796 |
| $668,099 | $673,113 | $661,319 | |
| Expenses | |||
| Administrative | $316,541 | $322,468 | $334,779 |
| Business Attraction | $251,869 | $256,460 | $232,277 |
| Business Retention and Expansion | $147,935 | $131,020 | $108,321 |
| $716,345 | $709,948 | $675,377 | |
| Annual Deficit | ($48,246) | ($36,835) | ($14,058) |
| Accumulated Surplus, beginning of year | $169,590 | $169,590 | $183,648 |
| Accumulated Surplus, end of year | $121,344 | $132,755 | $169,590 |
Financial Position
| As at December 31 | 2019 | 2018 |
|---|---|---|
| Financial Assets | ||
| Cash and cash equivalents | $166,881 | $222,090 |
| Accounts Receivable | $3,474 | $5,487 |
| $170,355 | $227,577 | |
| Liabilities | ||
| Accounts payable | $61,616 | $77,707 |
| Net Financial Assets | $108,739 | $149,870 |
| Non-financial assets | ||
| Prepaid expenses | $10,974 | $11,537 |
| Tangible capital assets | $13,042 | $8,183 |
| $24,016 | $19,720 | |
| Accumulated surplus | $132,755 | $169,590 |
VK Information & Data
VK Newsletter & Blog
Venture Kamloops publishes regular communications and updates in our quarterly newsletter. Subscribe to our newsletter and explore business best practices through our regular articles and Blog posts. You can find online assistance from business tools, current trends, resources, or local events & workshops in this resourceful Blog archive.
Monthly Economic Indicators
Venture Kamloops works for you to compile local economic data, including employment stats, airport numbers, real estate and more. Want to see the most recent economic information? Check out our monthly Economic Indicators. You can stay up-to-date with the most relevant information for your business by accessing the monthly report, or following our social media channels!
VK Report Builder
We strive to be the go-to source for business information in Kamloops. Our Report Builder was created to ensure visitors can review statistics on the city from Business Climate to Cost of Doing Business to a Community Profile, and then create a free customized report with a few clicks of a mouse. The report generated is the most current, custom to the user, and can be downloaded as a pdf or shared via email.
The population of Kamloops is expected to grow by 5,000 people between 2017 and 2022.