A Project of the Tompkins Institute, Cape Breton University
Cape Breton's BCA Group (which is comprised of BCA Holdings Ltd., BCA Investment Cooperative Ltd., BCA Growth, and BCA Venture Capital Inc.) was first established as an initiative to create a pool of investment capital for businesses located on Cape Breton Island.
The BCA CED Education Foundation is a registered charity and was formed to allow philanthropists to help solve the same problems. The total group was formed as a result of an evident capital drain into major metropolitan centers. All directors are unpaid volunteers wishing to improve the community through innovative business ventures.
Local development has been, and continues to be an inevitable issue in Cape Breton. Unemployment in Cape Breton remains fixed at a rate of 15%, and young people are often forced to leave the area in search of employment opportunities. Our group wants to change this out-migration trend, make it possible for people to secure meaningful employment on our island, and find a way for young people to securely situate themselves here.
Devoted to Business Development Within Cape Breton
BCA Investment Cooperative Ltd. was formed in 1998 in order to take advantage of the 30% income tax credits available to Nova Scotia taxpayers. Because BCA Investment Cooperative had the advantage of income tax credits, it was decided that the new company would focus on businesses that have increased risk associated with them. Currently, BCA Investment Cooperative has 300 shareholders, who have invested a total of $1.4 million.
BCA CED EDUCATION FOUNDATION
This registered charity raises money to support the promotion of Christian Social Action in the Tompkins Institute at Cape Breton University. Endowments are made with the principle invested in BCA companies and the interest earned going to the Tompkins Institute at CBU. Both the principle and the income contribute to social justice.
BCA VENTURE CAPITAL INC.: A CAPE BRETON INVESTMENT FUND
Receive a 35% non-refundable income tax credit on your investment against provincial tax payable. (If you don't have the cash available, you can borrow the money from a financial institution, and the interest is tax deductible*!)
Money invested through a self-directed RRSP can generate income tax deferrals. Income tax credits can be applied back three years, or forward seven.
An existing RRSP can be transferred to BCAVC, and you can be eligible for a 35% non-refundable income tax credit against provincial tax payable.
*Interest is not tax deductible if purchase is made through an RRSP.
You can also visit our website at: www.BCAGroup.ca. www.cbu.ca/tompkins
This CEDIF offering is made through an offering document, which can be obtained from an authorized sales agent or finder (Daniel MacLeod at (902) 567-0000). Investors should read the offering document before making an investment decision.)
BCA GROWTH FUND LTD
BCA Growth Fund. is a newly established community economic development investment fund (CEDIF) company in the Cape Breton area.
BCA Growth is offering its investors a 35% non-refundable income tax credit, with the option of receiving an additional 20% in year 5. Furthermore, we will begin to pay an annual dividend beginning in year two.
BCA Growth plans to work closely with Cape Breton University and Marconi Campus (Nova Scotia Community College) in developing business research projects. We are now looking at biogas furnaces that will burn manure to produce methane, in addition to the feasibility of a wood pellet manufacturing and distribution plant.
BCA MANAGEMENT SERVICES LTD
This is a support company providing business services for client companies and other small businesses in the local area. Services range from "back office" to support for sales and promotion.
BCA HOLDINGS LTD.
BCA Holdings Ltd. is a not-for-profit company dedicated to raising money for local business development. It has been in operation since 1989, and is comprised of a group of volunteers. As a not-for-profit, no director can receive fees. BCA Holdings Ltd. concentrates on low risk development projects, as it does not offer investors income tax credits.
Typically, BCA Holdings Ltd. pays a set interest rate of up to 5%, depending upon the deposit amount. For large deposits, BCA Holdings Ltd. can offer the security of a mortgage-backed debenture, which are held in trust by the firm of Sampson-McDougall Barristers. To date, BCA Holdings Ltd. has never missed an interest payment to any of its investors.
BCA Holding's recent projects include the Clearwater fish plant, which was later sold to Louisbourg Seafoods and currently employs over 50 individuals, the Wentworth Condominiums, which provided over $2 million dollars in work for Cape Breton residents, the Tompkins Centre in Reserve Mines, A&B Mechanical, East Coast Ropes, among many others.