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Funding for a Business

A collection of bolts.

Incentives from the City of Surrey

We're working with industry, government, and academic partners to create a clean energy hub to encourage clean energy companies to build and operate their business in Surrey.

To promote new investment and job creation in Surrey’s City Centre and in the Bridgeview and South Westminster areas, we've also designated Surrey's economic investment zones.

Incentives from British Columbia

BC offers many company business incentives to foster a positive business environment. In addition to having no payroll taxes, BC continues to have a competitive tax climate where corporate tax rates have been reduced by 1/3 since 2001, to 10.5 percent.

 

BC also supports low operating costs, where production machinery and equipment is exempt from property and sales tax. Individuals with an annual income up to $118,000 also pay the lowest provincial taxes in Canada.

Incentives for Many Sectors

  • Advantage BC: Offers attractive incentives to corporations and key staff conducting international activities from BC - 100 percent refund of BC personal income tax paid by registered specialists recruited from abroad who perform qualifying work for first 2 years.
  • Digital Film: 35 percent refundable tax credit on eligible labour costs, limited to 60 percent of total production costs.General Manufacturing - No sales tax collected on purchases of production machinery and equipment
     
  • Research & Development: by Knowledge Based Industry: Offers 10 percent tax reduction on eligible R&D expenditures to all corporations.
  • Mining Exploration & Production: Grass roots exploration receives a 20 percent provincial and 15 percent federal tax credit.
  • Clean Energy & Fuel Cell: BC provides a number incentives for alternative energy production, including partial abatement of property taxes, exemptions from sales tax and accelerated depreciation allowances for tax purposes.

Visit www.investbc.ca for details on provincial incentives.

 

Funding from the federal government

 

The Government of Canada offers grants and loans for:

  • Starting, buying or expanding a business
  • Aboriginal peoples, immigrants, women and youth
  • Specific industries like green energy, agriculture and technology

Funding for new businesses

 Visit Canada Business at http://www.canadabusiness.ca for more details on federal funding programs.