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BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
BCTIA - BC Business Council Economic Outlook Forum
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BCTIA - BC Business Council Economic Outlook Forum

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  • 1. BC Business CouncilEconomic Outlook Forum November 24, 2011
  • 2. Technology in BC
  • 3. The BCTIA Community Province-wide; 2,700 companies; 60,000+ employees
  • 4. Technology: #1 in GDP Growth Technology grew at double the rate of the province overall
  • 5. Growth vs. Rest of Canada Growth of Tech in BC outpaced Canada overall
  • 6. Technology: #2 in Jobs Growth % change in employment from previous year 14.0% 12.0% High Technology Sector 10.0% 8.0% 6.0% 4.0% 2.0% Province overall 0.0% -2.0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 -4.0% -6.0% Tech jobs grew 50% faster than the Province overall
  • 7. Employment Growth Tech added about 20,000 new jobs in past 10 years
  • 8. Overall Employment200 2009 Employment levels vs. Other Industries180160140120100 80 60 40 20 0 High Forestry and Mining and Oil & Construction Transportation Accommodation Technology Related Gas Extraction and and Food Industries Warehousing
  • 9. Wages Tech wages are 50% higher than average industrial wage
  • 10. Establishments Technology Companies in British Columbia Sole 20,000 Proprietors Sole 18,000 Proprietors 16,000 14,000 12,000 10,000 Companies Companies 8,000 6,000 4,000 2,000 - 2007 2009 8900 Tech Companies and 18,700 sole proprietorships
  • 11. Regional Impact 1.2 Technology companies span all regions in BC
  • 12. Company Size Technology Companies by Number of Employees 20 to 49 50 plus 4% 10 to 19 6% 9% 5 to 9 13% 1 to 4 68% 96% of tech companies are small businesses
  • 13. There is no Middle Class 8,555 companies 333 companies ~ 15 companies Start-up Emerging Mature 1-49 employees 50 – 499 employees 500+ employees $0 – 10MM in revenue $10 – 100MM in revenue $100MM in revenue Growth Gap
  • 14. Access to Capital Narrowing the Gap Management & Talent Capacity Growth GapAccess to Markets
  • 15. Access to Capital Growth Gap • Continued Support for SR&ED and Access to Capital improve eligibility for non-CCPCs • Continued Support for Small Business Venture Capital Programs • Increased Risk Capital pools (Start-up and Growth-stage)
  • 16. Management Capacity & Talent Growth Gap • Acceleration and Coaching Programs (Centre4Growth) Management & Talent Capacity • Immigration and foreign worker programs (e.g. PNP) • Cultivating home-grown talent
  • 17. Access to Markets Growth Gap • Local Champions: Customer Access to Markets adoption programs • Export programs - International trade & business development • Government and crown corp procurement
  • 18. Outlook• Tech industry will continue to lead the economy• Talent shortage is here now and will grow• Addressing the Growth Gap will be key to correcting the structural imbalance

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