Competitive Business Costs
There are strong business reasons to establish and operate a company in British Columbia (B.C.). Our commitment to actively supporting economic growth creates a vibrant and stable business environment. Top corporations from across the globe are experiencing the bottom-line advantages of doing business in British Columbia, benefiting from B.C.’s competitive operating costs.
B.C. Advantages
Operating Costs
Compared with the West Coast of the United States, many industries can achieve significant total annual operating cost savings when comparing operating costs such as utility rates, office rental rates, and annual wages. Additionally, nearly 98% of the electricity generated in British Columbia comes from clean or renewable resources contributing to electricity rates in British Columbia being among the lowest in North America.
Competitive Taxes
Accessible tax credits, incentives, and exemptions can help you and your employees keep more of what you earn, personally, and corporately. Tax credits for training, scientific research and experimental development, property tax exemptions, and investment capital allowances are potential opportunities to encourage business investment, innovation, and growth in British Columbia, Canada.
Streamlined Regulations
British Columbia is focused on regulatory reform to make it easier to do business, with streamlined and agile programs in place to create smart regulations that promote growth and innovation. For example, registering, running, and renewing your business license in B.C. is fast and easy due to the work we’ve done to reduce red tape.
Supportive Government
British Columbia takes pride in strong fiscal management and a stable, business-friendly economy, with programs in place to make it easier to get surety bonds for international sales and opportunities to sell to the federal and provincial government. Capital spending in schools, hospitals, roads, bridges, hydro-electric projects, and other infrastructure in B.C. create opportunities and experience, while investments in research and development projects fuel innovation and value.
Federal Programs and Support
Canada offers support to business owners across the country, providing assistance with financing, development, tax credits, and wage subsidies. The Business Benefits Finder can help you access programs like:
- National Research Council Canada Industrial Research Assistance Program – funding to support innovative research and development projects.
- Strategic Innovation Fund – funding for business innovation and growth, as well as industrial research and development and more.
- Tax Credits – Refundable and non-refundable labour tax credits, R&D tax credits, and grants can help you reduce the amount of tax you pay on your income.
- Programs and Initiatives – Comprehensive list of programs and initiatives available to Canadian businesses in all areas of the economy.
Made in B.C. Programs
B.C. is pro-business and has a wide range of programs available to help lower your operating costs or give you access to essential funds to grow your business through programs like:
- InnovateBC – funding research and development projects within the natural resources or applied sciences sectors, up to $300,000.
- Venture Capital Corporation – Eligible small businesses can accept equity capital directly from investors without setting up a venture capital corporation.
- Small Business BC – mentorship, guidance, and access to resources to help entrepreneurs in B.C. grow their business.
Learn More About British Columbia
Discover the sector or regional advantages to support your business. Learn more about community engagement and consulting with Indigenous people and First Nations communities in British Columbia.