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Annual Service Plan Reports 2004/05
CONTENTS
• Message from the Minister and Accountability Statement  
• Highlights of the Year  
• Ministry Role and Services  
• Performance Reporting  
• Report on Resources  
• Annual Report Appendices  
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Ministry of Small Business and Economic Development  

Annual Service Plan Reports 2004/05 Home
  
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Performance Reporting

Overview of Ministry Goals and Linkages to Government Strategic Goals

Synopsis of ministry results:

Synopsis of ministry results.

The following tables identify the ministry's performance targets for each objective, core business and the actual result attained in 2004/05. Where appropriate, an explanation of any variances between targets and results is included.

Goal 1: Improving our competitive position in the national and international economy.

This goal focuses on enhancing British Columbia's business climate by developing strategies to improve the province's relative competitiveness in key areas of the economy.

Core Business 1: Improving British Columbia's investment climate and competitiveness

Objective 1.1: Improve British Columbia's economic performance and diversification

The ministry's strategies to improve economic performance and diversification were aimed at increasing the amount of venture capital available to small and medium-sized businesses, which enables businesses to grow, expand and diversify. In addition, the ministry continued its efforts to repeal outdated and obsolete legislation and regulations to make it easier and more efficient to raise capital, invest and do business in British Columbia.

Strategies

  1. British Columbia's share of venture capital — Issued tax credits to resident investors who invested in registered venture capital funds, increased British Columbia's national share of venture capital holdings from five per cent to 10 per cent by 2006.
  2. Tax credit leverage — Tax credits were issued to resident investors under legislated programs that levered up to $152 million of private capital for annual investment in a diversity of businesses, including technology, tourism and value-added sectors by 2006.
  3. Deregulation and Regulatory reform — Continued to create a more competitive regulatory environment by maintaining a zero per cent increase in regulations through to 07/08.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Venture Capital Fund Registrations. Six funds registered. Achieved.
 
Six funds registered.		 Achieved target.
Venture Capital holdings in British Columbia. $1.8 billion.
 
(eight per cent of national holdings.)		 $2.175 billion.
 
(12 per cent of national holdings.)		 Exceeded target.
Private capital raised and businesses financed. $143 million.
 
110 businesses financed.		 $105 million.
 
Achieved.
 
191 businesses financed.		 Under target1.
 
Exceeded target by 81 businesses.
Ministry regulatory requirements. 36 per cent net cumulative reduction. 36 per cent net cumulative reduction. Achieved target.
1  The decrease in private capital raised resulted from poor market conditions in B.C.'s labour-sponsored fund sector.

Objective 1.2: Improve British Columbia's competitiveness as a place to live, invest and do business

This objective focused on improving the province's business competitiveness. Strategies were aimed at repealing outdated and obsolete legislation and regulations, as well as assessing and promoting options for enhancing British Columbia's tax competitiveness.

Strategies

  1. Economic Competitiveness — Completed analysis and developed a strategy, options, performance measures and targets to improve British Columbia's competitiveness and investment growth.
  2. Tax competitiveness — Analyzed, evaluated and prioritized options for improving British Columbia's tax competitiveness.
  3. Reduce the regulatory burden across government — Reduced the regulatory burden and improved regulatory systems to create a more competitive business environment.
  4. Cross government smart regulation and enforcement — Improved regulatory quality, competitiveness and accountability through government regulatory policy.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Competitiveness indicators. Develop base data on competitiveness for each indicator. Results Achieved. Data for indicators finalized Spring 04. Achieved target.
Tax proposals. Evaluate new tax measures and develop recommendations for minister by October, 2004. Results Achieved.
 
Recommendations provided to Minister of SBED.		 Achieved target.
Government-wide regulatory requirements. 33 per cent net cumulative reduction. Achieved.
 
37 per cent net cumulative reduction.		 Exceeded target.

Goal 2: Increasing economic development throughout British Columbia, particularly in the Heartlands.

This goal focuses on fostering economic growth and diversification in all regions and sectors of the province.

Core Business 2: Enhancing economic development throughout British Columbia

Objective 2.1: Facilitate economic growth throughout the province

The ministry's strategies to facilitate economic growth focused on facilitating capital investment projects and on growing specific sectors, including tourism, convention centres and cruise line traffic.

Strategies

  1. Advance small business growth — Ensured government policy, regulations and service delivery frameworks supported small business success.
  2. Inbound investments — Facilitated inbound investment into high-growth, high-opportunity sectors.
  3. Provincial Tourism strategies — Implemented strategies to promote British Columbia and achieved increases in tourism revenues.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Total number of inbound investment projects Six additional projects.
 
$30 million/450 jobs.		 Six projects.
 
30.5 million/1,600 jobs.		 Achieved target.
 
Exceeded target.
Increase Tourism Activity
 
Total Cruise Passengers
 
Total Room Revenue 1
 
Total Delegate Days
 
1.17 million
 
$393.2 million 2
 
424,800
 
1.23 million
 
$414.7 million
 
534,852
 
Exceeded targets.
1  Room revenue in the Thompson-Okanagan, Northern British Columbia and Kootenay Rockies Tourism.
2  2004/2005 target restated to reflect two per cent increase for 2003/2004 actual of $385.5 million.

Objective 2.2: Maximize federal/provincial funding for our Heartlands

This objective focused on maximizing British Columbia's share of federal funding under the Canada/British Columbia Infrastructure Program and the Western Economic Partnership Agreement. The ministry's strategies were aimed at efficiently distributing contributions to support business and infrastructure development, particularly in regional communities.

Strategies

  1. Canada/British Columbia Infrastructure Program — Funded infrastructure projects that supported economic development in the regions.
  2. Community Development Initiative — New inititiative established in third quarter of 2004/05. Funded community infrastructure projects throughout the province.
  3. Western Economic Partnership Agreement — Funded economic development initiatives that recognized sectoral and regional needs.
  4. Funding for Regional Science and Technology Councils — Funded science and innovation approaches for regional applications.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Canada/British Columbia Infrastructure Program project funding. Manage contracts to distribute $66.5 million in federal/provincial funding to local governments and non-governmental organizations. Managed 88 contracts to distribute $83 million in federal/provincial funding to local governments and non-governmental organizations. Exceeded Target .
Community Development Initiative.1 Provide communities with $66 million in funding grants by March 31, 2005. Provided $66 million to communities by March 31, 2005. Target achieved.
Western Economic Partnership Agreement project funding - $50 million federal/provincial funding ($25 million provincial share over five years). Commit 20 per cent of total program funds on approved projects. Committed 45 per cent of total program funds ($22.5 million) on approved projects. Exceeded Target.
Regional Science and Technology Councils funding. Continue funding seven existing councils.
 
Formalize a Northwest council by Spring 2004.		 Achieved.
 
Achieved.
 
Northwest council held its first board meeting in March 2004.		 Target achieved.
1  New initiative established in third quarter of 2004/05.

Objective 2.3: Advocate on behalf of small business

Small businesses comprise approximately 97 per cent of British Columbia's businesses and are the primary source of job creation in the province. Consequently, economic growth within the small business sector is vital to the province's economic performance.

Strategies

  1. Canada/British Columbia Business Services Society — Provided one-stop access to business information and tools for small business startup and expansion.
  2. Small business participation in 2010 Olympic and Paralympic Winter Games — Ensured small businesses were informed of opportunities leading up to the 2010 Winter Games.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Number of clients served by Canada/British Columbia Business Services Society. 135,000 transactions. 127,438 walk-in, phone, e-mail and fax transactions.
 
1,213,730 website visits.		 7,562 less walk-in, phone, e-mail and fax transactions.
 
Website visits increased to 610,261, up from 603,469 in 03/04.
Small business participation in Olympic business opportunities. 3,000 businesses registered for updates on 2010 opportunities. 2,200 businesses registered (as of April, 2005)1. Under target.
1  3,000 target to be met by June 15, 2005.

Goal 3: Marketing British Columbia as a preferred place to live, visit, invest and do business.

This goal focuses on strategic marketing to distinguish British Columbia from its competitors and communicate the province's advantages and opportunities to potential visitors and investors alike.

Objective 3.1: Market British Columbia as a preferred location to visit, and for new and expanded trade and investment.

The ministry developed strategies to market and promote the province's advantages and opportunities to increase trade and investment. One of the ministry's ongoing targets is the billion-dollar film and television industry. In addition, the ministry organized Premier's and ministers' trade and investment missions abroad, as well as in-coming trade delegations visiting British Columbia.

Core Business 3: Marketing and promoting British Columbia

Strategies

  1. Trade and investment promotion — Organized trade missions and provincial participation in key international events to promote British Columbia.
  2. Promote British Columbia as a film and TV location — Organized trade efforts to promote the province as a film and TV production location.
  3. Marketing and promotional strategies — Developed marketing and promotional strategies with Invest British Columbia to promote awareness of competitive advantages and opportunities throughout the province.
Performance Measures 2004/05 Target 2004/05 Actual Variance
Trade missions and key events promoting British Columbia. Eight trade and investment visits led by Premier and/or ministers.
 
40 pre-qualified business delegations attracted.		 Achieved.
 
Two trade and investment missions.
 
42 delegations attracted.
 
Six major events.		 Under target1.
 
Exceeded target.
Sales and marketing initiatives for film and TV industry. Lead four sales and marketing efforts in the U.S. and one in emerging markets. Lead five sales and marketing efforts in the U.S. and one in the emerging markets. Exceeded target.
North American ranking of film production expenditure. Maintained ranking of being largest service production centre in North America after Los Angeles and New York. $801 million spent in B.C.
 
Largest service production center in North America after Los Angeles and New York.		 Achieved target.
Number of information packages provided in response to qualified investor enquiries. 75. 70. Under target2.
1  During 2004/05, outbound ministerial missions were below target with two initiatives occurring during the period, including missions to China and the United States. Ministerial international travel is anticipated to return to target levels for 2005/06.
2  The ministry provided customized information packages to 70 potential investors, five fewer than anticipated. There is continuing intense competition amongst jurisdictions worldwide for direct investment dollars.

Goal 4: The 2010 Olympic and Paralympic Winter Games are successful and leave a legacy for British Columbia.

This goal focuses on maximizing the economic and social benefits to British Columbia while minimizing potential risks of hosting the Vancouver 2010 Olympic and Paralympic Winter Games.

Core Business: British Columbia Games Secretariat, Sport and Culture

Objective 4.1: The 2010 Winter Games creates economic and social development opportunities before, during and after the 2010 Winter Games in an environmentally sustainable manner.

Government began the initial stages of planning to maximize the benefits of hosting the 2010 Winter Games. New measures were added to capture a target over the past year of working with sport, community and inter-ministry partners to implement plans for: business investment, sport and health development, youth participation, resorts and Olympic live sites.

Strategies

  1. Maximize economic benefits — Continue to implement strategies that maximize the potential economic benefits of hosting the 2010 Olympic and Paralympic Winter Games.
  2. Maximize participation — Will continue to implement strategies that maximize participation, equity, inclusiveness and accessibility for all British Columbians before, during and after the 2010 Winter Games.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Implementation and performance plans for business investment, sports development. Business Investment Plan, and Sport Development Plan launched. Implementing performance plans. Achieved target.

Goal 5: British Columbians participate and excel in sport and culture.

Winning the Olympic bid has placed a new profile on the province's sport and physical activity. There will be renewed appetite for achieving excellence and participation in sport in British Columbia. In addition, the arts and cultural sector is a rapidly growing component of the provincial economy. This goal focuses on increasing participation in sports, and the development of arts and culture.

Core Business Area: BC Olympic Games Secretariat, Sports and Culture

Objective 5.1: British Columbians participate in physical activity and British Columbian athletes excel.

Physical activity is a key component of health and quality of life for British Columbia's citizens. Increased participation in physical activity was encouraged through a number of strategies, most of which were done in co-operation with a number of other agencies.

Strategies:

  1. Active Schools, Active Communities — Developed and implemented components of the active schools, active communities and organized sport action plans.
  2. Athletes Training — Facilitated the provision of regional and provincial level training and services to athletes.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Number of communities designated "Active Communities". Five communities. Not applicable. This program was transferred to the Ministry of Health Services' ActNow Initiative.
British Columbia athletes excel, demonstrated by Team B.C. placement in Canada summer and winter games. No games held in 2004. Not applicable. Not applicable.
British Columbia has high quality sport infrastructure as measured by the proportions of nationally carded athletes training in the province1. 19 per cent. 21 per cent (255 B.C. athletes of 1,209 carded athletes in Nov. 2004). Exceeded target.
1  Number of nationally-carded athletes attracted to British Columbia provides evidence of the quality and range of sports facilities and training capacity. Of 1,331 athletes funded by Sports Canada in 2003, 18 per cent (or 235) train in British Columbia.

Objective 5.2: British Columbia's cultural sector contributes to quality of life and economic development of communities.

Cultural activity is one of the key pillars of a healthy community and an active cultural sector is part of a creative, information-based society. The ministry develops and administers policies that support the arts and cultural sector, in addition to supporting the B.C. Arts Council and Legacies Now.

Strategies

  1. British Columbia Arts Council — Completed program review to identify program and funding priorities for British Columbia Arts Council.
  2. Sustainable Arts and Culture — Developed and administered policies that encourage the development of a sustainable arts and culture sector.
  3. Competitiveness of Cultural industries — Developed options to improve the competitiveness of provincial cultural industries.
Performance Measure 2004/05 Target 2004/05 Actual Variance
Sustainable Arts and Culture Sector.
 
Sustainability supported.		 Financial model developed. Development of Centre for Not-for profit is operational and delivering programs. Target achieved.
Sectoral strategy for sound recording industry developed. Strategy developed by Fall 2004. The project did not proceed due to a shift in strategic priorities. Not applicable.

Deregulation and Regulatory Reform

The Ministry of Small Business and Economic Development achieved its ministry target by reducing its own regulatory burden by 36 per cent. As of March 31, 2005 the ministry has maintained a target of zero per cent increase in regulatory burden.

The regulatory reform office in the Ministry of Small Business and Economic Development successfully managed the government deregulation initiative exceeding its 33 per cent deregulation target with a net reduction of 143,000 in regulatory requirements. This achievement, under British Columbia's innovative and comprehensive deregulation framework, reinforces that British Columbia is regulating sensibly and thoughtfully, and B.C. encourages prosperity, innovation and enterprise across the province.

As of March 31, 2005 the government has met its more recent target of a zero per cent net increase in new regulations. British Columbia is also imposing rigorous performance standards with tough measurable targets for regulatory reform that will promote smart, effective and efficient regulation. Top priorities are regulations with the most direct impact on competitiveness. Major strides have been made in the areas of employment standards, liquor control and licensing, land use management, and the resource sectors. Many of the changes exemplify the shift towards results-based regulation that will encourage innovation and competitiveness. All ministries and agencies across government are striving for smarter regulation and streamlining to make it easier for all British Columbians to interact with government, and help create new opportunities in all economic sectors across the province.

     
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