Career
Business Resources in Kelowna
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The key business resources in Kelowna are Community Futures Central Okanagan, the Kelowna Chamber of Commerce and, for tech companies, Accelerate Okanagan. There's plenty of help for business owners, from testing an idea to scaling up, and in a city of 150,000 the key people know each other and most will happily meet a newcomer. Here are the groups, programs and funding sources worth knowing.
Key Organizations
Six groups do most of the business support here: the Kelowna Chamber of Commerce, Accelerate Okanagan, Community Futures Central Okanagan, UBC Okanagan, Regional District Economic Development and the Women's Enterprise Centre.
Kelowna Chamber of Commerce
The main group for business networking and advocacy (kelownachamber.org). Members get monthly networking events, business awards, a voice on city issues and more visibility. Chamber events are the best way to meet business owners, professionals and possible partners, and the Chamber makes a point of introducing new members around.
Accelerate Okanagan
A tech accelerator that offers mentoring, investment-readiness programs (Fundable, the Okanagan Angel Summit), co-working at the Kelowna Innovation Centre and community. Its Mentor Network gives members regular mentoring, and most programs are free or cheap. AO events are good for networking even if you're not in tech.
Community Futures Central Okanagan
Offers business loans up to $150K for small businesses and startups, along with one-on-one advice, business plan reviews, help with financial planning and training workshops. If you may not qualify for a bank loan, start here.
UBC Okanagan
Connects businesses with UBC Okanagan research, talent (co-op students and grads) and resources. Programs cover industry partnerships, applied research and turning research into products. It's most useful for tech, health and science businesses.
Regional District Economic Development
The Central Okanagan Economic Development Commission offers economic data, population reports, help choosing a site and support for new investment, plus guides on zoning, permits and the building process. Give them a call if you're thinking about locating here or planning to expand.
Women's Enterprise Centre
Offers loans (up to $150K), business advice and training just for women business owners. Its local office runs workshops, networking events and mentoring programs.
How can you fund a business in Kelowna?
Funding for local businesses comes from Community Futures loans, the BC Small Business Venture Capital Tax Credit, Futurpreneur, and angel and VC investors. Community Futures Loans go up to $150K for small businesses, with flexible terms and fair rates, and they're especially useful for startups and businesses that can't get a bank loan. If you're raising money, the BC Small Business Venture Capital Tax Credit gives investors in eligible BC small businesses a 30% tax credit, which makes your company more appealing to local investors.
Futurpreneur offers loans, mentoring and resources for business owners aged 18–39, and it partners with BDC for extra loans. For a growing company seeking angel investors and VC, look to Accelerate Okanagan's Okanagan Angel Summit, which ends in a public pitch finale, and the Vancouver VCs who visit.
First Step: Starting a business in Kelowna? Make these your first three calls: 1) Community Futures Central Okanagan (business planning and financing), 2) Kelowna Chamber of Commerce (networking and community), 3) Accelerate Okanagan (if tech-related). All three are used to helping newcomers.
Professional Services
Kelowna has a full range of local professional services, so you won't need to go to Vancouver. That includes accounting firms (BDO, Grant Thornton, MNP, plus local firms), law firms (Pushor Mitchell, McQuarrie, Doak Shirreff), business bankers (all major banks plus local credit unions like Prospera), insurance brokers and commercial real estate agents. It's also far easier to get a meeting with a partner at a local firm than in Vancouver. Ask the Chamber or your business contacts for referrals.