CPABC in Focus July/August 2016 - Page 19

BC’s venture capital market is growing, but it remains small compared to the province’s capital investment in major projects. Venture capital investments were driven primarily by the growing high-tech industry. In 2015, the sum of venture capital deals in BC was $450 million, and most deals took place in the information, communications and technology industry.10 By the end of the first quarter of 2016, the total value of BC’s venture capital deals had reached $207 million—almost half of the value of BC’s total venture capital investments in 2015. This upsurge highlights both the growth and the potential of BC’s high-tech industry.11 Business bankruptcies The number of reported business bankruptcies in BC declined by 23% in 2015, dropping to 153 reports (see Table 3). Declines were greatest in Southwest BC (-33 reports), Vancouver Island/Coast (-12), and the Thompson-Okanagan (-4). Among the province’s less populated development regions, only the Northeast and Kootenay saw a decrease in the number of reports (-1 and -3, respectively), while the Cariboo and North Coast both saw numbers rise slightly (+4 and +2, respectively). For the fourth year in a row, no bankruptcies were reported in the Nechako Development Region. Table 3: Business Bankruptcies in All Development Regions, 2010-2015 Change Region 2010 2011 2012 2013 2014 2015 5-Year 1-Year 2010-15 2014-15 Cariboo Kootenay Mainland/Southwest Nechako North Coast Northeast Thompson-Okanagan Vancouver Island/Coast British Columbia 3 3 2 1 2 6 3 4 7 7 11 6 3 0 -7 -3 127 108 108 86 130 97 30 -33 4 1 0 0 0 0 -4 0 0 2 2 0 0 2 2 2 5 4 3 3 2 1 -4 -1 42 33 43 52 24 20 -22 -4 40 34 23 40 39 27 -13 -12 229 192 198 189 200 153 -76 -47 Source: Office of the Superintendent of Bankruptcy Canada. Living in regional BC Educational attainment The educational attainment level of BC’s labour force improved by 2.1 ppt in 2015, bringing the share of the labour force between the ages o B[ M] \Xۙ\HXܙY]][یL\ K[YH\\ݚ[\\ܚX[K]HYYYۚYX[HZ[۝\[˜[H][ۘ[]\YH[\[X]܋^H\H][\ [][HXY [X  MHX\YH M]ۜX]]HYX\[X]]]HZ[[YX][ۘ[]Z[Y[ L•H[[YX][ۘ[]Z[Y[\[H]]HXܛ[ MK][]ۙH][Y[Y[ۈ[[\ݙ[Y[ ܝ\\HX\[\\YX\ܚ[H \Z[[]X\ܘHYX][ۘ[]Z[Y[ H\ۋS[Y[^\Y[YBXۙ ZY\Z[و ˍ [H]\[[]\\[ \]H \[ܙX\K[HܝX\[[^B][Y[Y[ۜ][\Z[و K[ H \X][KH۝\ YX][ۘ[]Z[Y[[H\XYH  MA[YX[[\H\][[]]H\]Z]H\X][ۋ MH[YX[[\H\][X\]ݙ\Y]˂LAXY LBAY[Y\H\H \Xۙ\H\YX]K\XH܈Y\LA]\X[YKX\ܘH\^K\HXKL‚AXY MP[\8([K]Y\ M NB