The Province is making it easier for small businesses to succeed by increasing access to capital, extending tax credits for trades businesses and reducing and streamlining regulatory requirements.

These are just a few examples of significant progress made by government in the last year to improve the lives of British Columbians and their families by creating and protecting jobs, by becoming more open and transparent, and by continuing to be fiscally responsible in these uncertain economic times.

To encourage the continued success of the close to 400,000 small businesses in B.C., the Small Business Venture Capital Program tax credit has been increased by $3 million, encouraging direct investments in new and existing businesses. Investors receive a 30 per cent refundable tax credit, supporting up to $100 million in investments annually.

Also, a three-year extension of the apprenticeship tax credit will allow trades businesses to better plan for the future and offer more opportunities for trades students in B.C.

In June 2011, the government announced an extension of its commitment to no net increases in regulatory requirements until 2015. B.C. is the first government in Canada to enshrine in law a requirement to publish annual provincial reports about its regulatory reform program.

The government also supported the implementation of BizPaL - an online tool to help small businesses find information about federal, provincial and local government permits and licences needed for business start-up and operation in a specific location. BizPaL is now available in 103 B.C. communities and has reduced a process that once took a full business day to one that takes 20 to 30 minutes.

• The B.C. government has reduced 154,294 regulatory requirements in last decade.
• The three-year LiveSmart BC: Small Business Program was launched in February 2011 and makes it easy for thousands of B.C.'s small businesses to save money and reduce their energy consumption. The $15-million program is funded by British Columbia's $100-million Climate Action and Clean Energy Fund.
• Sectors that benefit from the Small Business Venture Capital Program include businesses creating opportunities in regional community diversification, clean technology innovation, interactive digital media production, export manufacturing, destination tourism and research and development of proprietary technology.
• The BizPaL service, which helps small businesses find information on the permits and licences needed from three levels of government, was developed through a partnership with local governments, the Province of British Columbia and the Government of Canada.
• B.C. continues to support the adoption of a mobile business license (MBL) by local governments to allow a business to operate in any participating municipality by purchasing one license. There are now six mobile business license agreements in place across the province.
• A tax panel will be appointed to review B.C.'s tax system that will consist of business leaders and experts who will advise us on how best to improve the tax system to help B.C. businesses remain competitive.
• B.C. continues to support public and private partnerships in delivering tools and information to small business owners and supports Small Business BC, a key resource for small business and continuing consultations through the Small Business Roundtable at http://www.smallbusinessroundtable.ca/Pages/Default.aspx

• B.C. continues to foster an entrepreneurship culture, declaring October as Small Business Month and supporting programs that expose youth to business training, preparing them to become the entrepreneurs of tomorrow.

Learn More:

• BC Jobs Plan Website:http://www.bcjobsplan.ca/
• Small Business Profile 2011: http://www.resourcecentre.gov.bc.ca/pdf/SmallBusProfileEngWeb.pdf
• Small Business Roundtable annual Report: http://www.smallbusinessroundtable.ca/AnnualReports/Pages/Default.aspx

Contact:

Caroline McAndrews
Communications Manager
Ministry of Jobs, Tourism and Innovation
250 208-3254 (cell)