Business B.C. loan program may ease strain on businesses FINDING financing for your small business is always a challenge. By LISA SMEDMAN With the new B.C, Ven- ture Capital Corporation (VCC) program, that money could be just a little bit easier to find. Venture Capital Corpora- tions, currently being sect up by groups of independent investors under the watchful eye of the provincial Ministry of Industry and Small Business Develop- ment, will offer up to $2.5 million of investment capital to certain small businesses. To qualify, you must be involved in either a manufacturing and process- ing, research and develop- ment, tourism or aquaculture business. Only ‘‘small’’ businesses - those with no more than 75 employees - will be consid- ered, (A formula exists for calculating how many part- time employees make up one full-time employee.) At least 75 per cent of the wages you pay must go to employees who work in B.C. Once a VCC has invested in your company, you can hire more employees. But once the total number ex- ceeds 150, the VCC must pull its investments out of your business within two years. Your business must be at “arm's length'’ from the vcc. A formula determines whether your company is “substantially engaged’’ in doing business in B.C. A bulletin prepared by the ministry, called ‘‘Small Business Venture Capital Act Regulations,”’ gives a list of which kinds of businesses qualify to receive VCC capital. It points out a number of types of manufacturing and process- ing industries which do not qualify, and generally ac- cepts scientific research and development facilities that are defined as such by the Canadian Income Tax Act. Aquaculture is defined as the cultivation or harvesting of aquatic plants and animals. Qualifying tourist in- dustries include resorts, hotels, charter services, rec- reational activities and tourist attractions. There are specific rules listing how many days these facilities must be open, who they must cater to, how many tourists they must attract, and how much gross revenue must be generated by the business annually. When the VCC program opened for business in September, about 60 com- CALL ‘CLASSIFIEDS 986-6222 THE VOICE OF HOMTH ANNO WIHT VANCOUVER “north shore | news. | SUNDAY » WEDNESDAY | FEDAY 15 - Sunday, November 17, 1985 - North Shore News Instant Shoe Repair __ While You Wait + Shoes x Boots at Paul’s Shoe Repair LYNN VALLEY CENTRE 985-4710 those wishing to invest in or forma VCC. Act itself are also available. These are primarily useful to panies were ready (o become venture capital corporations. Government officials are predicting that $125 million will have been readied for investment in B.C. small businesses by the end of the year, Smal! Business Venture Capital Program pamphlets that explain the VCC pro- gram are available at the Ministry of Industry and Small Business Development office at 800 Hornby Street. Phone 660-3900 for more in- formation. ; Copies Business COMPLETE WORLDWIDE TRAVEL ARRANGEMENTS FOR BUSINESS OR PLEASURE Prompt - Personalized - Multitingual Service at no exira cost. Free ticket delivery - CALL: 689. 046 VERENA FUARER --Owner— or visit our office at: 744 WEST HASTINGS ST. (AT HOWE) VANCOUVER, B.C. V6C 1A5 [HASTING Travel Ltd. IF YOU HAVE A UNIQUE FOOD PRODUCT TO SELL AT THE MARKET, WE WOULD LIKE TO TALK TO YOU. YOUR EUROPEAN TRAVEL, CENTRE iH the CALL JOHN KUHARCHUK 669-9777 SWISS EFFICIENCY” of Small Venture Capital SPIRELLA SHOWER CURTAINS, TOWELS & BATH ACCESSORIES SAVE 25% LAGOSTINA BAMBINA Contemporary styling and | economical 8-piece cookware set. ; REG. $209 SPECIAL $99. 00 (CIN i fg spice Rack with 18 jars BREG. $37.95 fe f sUnder cabinet Spice Rack jie mewith 12 jars REG. $32 § § Air condition your closets with CLOSET MAID ventilated shelving and basket systems. | ONLY $99.00 (package #1608 fits from 5’ to 8° wide closets) Introducing. . . .R.’s CHAIR MARKET® IMPORTED BISTRO . CHAIRS, BENTWOOD CHAIRS, KITCHEN & DINETTE TABLES REDUCED 20-40% PLUS HUNDREDS OF UNADVERTISED EARLY BIRD SPECIALS FOR CHRISTMAS. ws | 2306 Granville (at 7th Ave.) | IN Free Parking At Rear REVOLUTIO WV BEB OPEN SUNDAYS 12-5p.m.