Labour-sponsored Venture Capital Corporation Funds (LSVCC): Pool Funds
No fixed amount
Investment
Description:
A pool fund LSVCC is an investment corporation that can issue shares to Saskatchewan residents. The funds are open to any Saskatchewan resident wanting to invest in a broad base of Saskatchewan sectors and businesses. In turn, Saskatchewan businesses can apply to access this venture capital to assist with startup or expansion.
Pool funds available for investment include the Golden Opportunities Fund Inc. and SaskWorks Venture Fund Inc.
Comments on Funding:
1. Investing in a pool fund LSVCC will give you a 32.5 per cent tax credit (17.5 per cent provincial and 15 per cent federal) for the first $5,000 you contribute each year.
2. You must hold the investment for a minimum of eight years or you will be required to repay the tax credits.
3. You also have the opportunity to profit through dividends and/or capital appreciations, which can contribute to your long-term savings. Investments are RRSP eligible.
Through the pool fund LSVCC, your investments provide capital to eligible Saskatchewan businesses that create and maintain jobs, encourage long-term investment in local communities, and diversify the economy.
Continuous Intake
Eligibility:
Applicants must:
1. be corporations or co‑operatives,
2. have 500 or fewer employees, and
3. pay at least 25% of salaries and wages to Saskatchewan residents.
Application Steps:
Applicants must:
1. Contact Golden Opportunities Fund Inc. or SaskWorks Venture Fund Inc. for more information.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
1. Saskatchewan residents can invest in small and medium-sized Saskatchewan businesses and earn a tax credit.
2. Businesses can contact Golden Opportunities Fund Inc. or SaskWorks Venture Fund Inc. for more information.
About the author
Maurice
