President's Message Mathew Dundas

As we reflect on the accomplishments of the past year, I am pleased to present the 2023 Annual Report for Venture Kamloops. This report highlights our ongoing mission of creating economic growth to establish the city as the premiere location for business development.

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Executive Director’s Message Jim Anderson

Early in 2023, we learned from newly published census data that Kamloops was among the 5 fastest growing communities in the country. To some, this may have come as a surprise, but not to us at Venture Kamloops. Despite the monumental distraction of the pandemic and all the uncertainty it brought, business has been ticking along in the city. Growth is robust – a reversal of the days when Kamloops routinely posted “steady, but unspectacular growth.”

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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 Team

VK Programs

VK Venture Advisors

The VK Venture Advisor Program is a mentorship initiative aimed at assisting entrepreneurs in launching or expanding their businesses. In 2023, the program welcomed nine entrepreneurs from diverse industries. These entrepreneurs received guidance and support from seasoned business leaders through the program, along with access to resources and networking opportunities to facilitate business growth.

VK Accelerate

In 2023, the VK Accelerate Program continued its focus on aiding early-stage or transitioning entrepreneurs in securing their first physical location. Several entrepreneurs participated in the program, benefiting from connections to funding opportunities, mentorship, and various business and real estate networks. Through the program, these entrepreneurs were able to expedite their business growth and lay a solid foundation for sustained success.

VK Workforce Development

The VK Workforce Development Program is Venture Kamloops' latest endeavor, created to assist businesses in accessing diverse government and non-governmental hiring initiatives. Its goal is to link businesses with the necessary resources to recruit and train employees across all levels of expertise, from beginners to highly skilled and senior management positions. With the VK Workforce Development Program, businesses in Kamloops can enhance their teams by tapping into local, national, or international talent pools.

VK Inside Track

The VK Inside Track Program, seeks to build connections with real estate developers from outside the region. This program offers developers current market data and other essential information to guide their investment decisions in Kamloops' thriving real estate market. Venture Kamloops aims to promote partnerships and investment in the area, which in turn drives economic growth and opens up new opportunities for businesses and residents.

VK Metrics

Business Assisted; Categorized by:

2023 2022 2021 2020 2019

Business Size (Number of Employees)

2023 2022 2021 2020 2019

Business Sectors

2023 2022 2021 2020 2019

Nature of Assistance

2023 2022 2021 2020 2019

Performance Measures

2023 2022 2021 2020 2019

Strategic Plan Implementation (Number of Goals Achieved)

2023 2022 2021 2020 2019

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

2023 2022 2021 2020 2019

Social Media Engagement

2023 2022 2021 2020 2019

Website Analytics

2023 2022 2021 2020 2019

Economic Snapshot 2023

Employment Statistics

Employment Rates Unemployment Rate Participation Rate

Source: statscan.gc.ca

City of Kamloops (CY) Total Population

2021 2016

Source: statscan.gc.ca

Population Change 2016 to 2021

Housing

2023 2022 2021 2020 2019

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

Building Permits

2023 2022 2021 2020 2019

Source: https://www.kamloops.ca/business-development/building-permits/building-permit-reports

Business Licenses

2022 2021 2020 2019 2018

Excerpts from 2023 Financial Statements

Operating Results

For the Year Ended December 31 Budget 2023 2022
Revenue
City of Kamloops Economic development funding $646,131 $696,131 $639,733
Government Grants - $13,000 $10,000
Donations in kind $40,322 $42,015 $40,322
Other Revenue - $868 -
$686,453 $753,085 $690,217
Expenses
Administrative $374,759 $391,021 $345,355
Business Attraction $224,928 $205,423 $262,101
Business Retention and Expansion $171,091 $154,675 $107,021
$770,778 $751,119 $714,477
Annual Deficit ($84,325) ($1,966) ($24,260)
Accumulated Surplus, beginning of year $85,712 $85,712 $109,972
Accumulated Surplus, end of year $1,387 $87,678 $85,712

Financial Position

As at December 31, 2023 2023 2022
Financial Assets
Cash and cash equivalents $125,409 $125,872
Accounts Receivable $2,023 $3,905
$127,432 $129,777
Liabilities
Accounts payable $52,976 $67,322
Net Financial Assets $74,456 $62,455
Non-financial assets
Prepaid expenses $8,334 $15,913
Tangible capital assets $4,888 $7,344
$13,222 $23,257
Accumulated Surplus $87,678 $85,712

2023 Events

Date Event
January 4 Chamber Social
January 18 IECBC Design Lab - Building SMEs Network and Local Design Perspectives
January 27 Kamloops Food Policy Council Strategic Planning Session
January 31 Kelowna UDI
February 1 Chamber Social
February 8 CHBA – CI Dinner
February 16 UDI Pacific Vancouver
March 1 Chamber Social
March 1 Kelowna UDI
March 2 VK Accelerate - Launch Party with Paul & company LLT.
March 7 WEBC: We Grow Together
March 9 Immigration 101 for Ec Dev
March 15 Tourism Career Fair
March 16 An evening with Kukpi7 Rosanne and Mayor Reid Hammer-Jackson
March 28 - April 5 Workforce Development Emigration Expo, Houton Netherlands
Date Event
April 5 Chamber Social
April 6 MBA Social Enterprise Pitch Panelist
April 17 - 19 BCEDA Economic Summit
April 24 VK Accelerate – Launch Party with Xpress Chef
May 3 Chamber Social
May 11 Women in Business: Accelerating Parity across leadership and beyond with Kamloops and District of Chamber Commerce
June 7 Chamber Social
June 14 VK Accelerate – Launch Party for Our Footprints
Date Event
July 5 Chamber Social
July 20 Chamber BEA Finalist announcement at the Tk'emlups te Secwepemc Powwow Arbour
July 21 Tourism Kamloops Launch the Loops Explorer Station
August 2 Chamber Social
August 17 KCBIA
August 21 NSBIA
September 6 Chamber Social
September 12 2nd Annual Chamber Golf Tournament
September 21 KCBIA
September 28 - 29 2023 Workforce Conference and Job fair
Date Event
October 2 Kamloops Immigrant services Presentation on entrepreneurship
October 4 Chamber Social
October 11 - 22 UK/Ireland Canada Live
October 26 Kamloops and District Chamber of Commerce Business Excellence award
November 1 Chamber Social
November 7 NSBIA
November 14 - 16 2023 Economic Development Leadership Learning Exchange
November 16 Grand Opening of Swelaps Market
November 22 BDC Presents Pierre Cleroux Vice President, Research and chief economist BDC
November 23 Nutters 1st Anniversary
December 1 Tourism Mug and Muffin
December 6 Chamber Social
December 6 Destination Canada Virtual Booth Management
December 7 TteS Business and Economic Development Holiday
December 11 VK Christmas Social
December 11 Tourism Kamloops Mug and Muffin
December 12 NSBIA Christmas and Go Event

VK Data & Resources

CityViz Data Dashboard

CityViz is a comprehensive platform offering data visualization tools aimed at empowering communities to make informed decisions based on data. Within the Kamloops community, CityViz provides a diverse range of information including demographics, transportation, housing, and more. This data can be analyzed to gain deeper insights into the community's needs and potential opportunities. Users have the ability to explore and interact with the data on the platform, facilitating informed decision-making processes.

VK Report Builder

The Venture Kamloops Report Builder was developed to provide visitors to our site the opportunity to develop their own customized report on Kamloops, utilizing the most current information.