Do you want to setup a business in Canada? If you are looking to invest and grow your business at a global level, then Canada is a preferred nation to setup and run your business. According to the government of Canada, both Forbes and Bloomberg rated Canada as the best country in the G20 to do business. As an entrepreneur, if you are looking to run your business in Canada, then here are Canada’s most entrepreneurial cities for you.
Collingwood is situated in Simcoe County, Ontario. It is one of the best Canadian cities for entrepreneurs. Collingwood scored the highest points in the Entrepreneurial Communities released by Canadian Federation of Independent Business (CFIB). The CFIB gave scores to cities based on three categories. The three categories were based on the presence which looked at the growth of business ownership, the perspective which accounted for business optimism and the policy of the local government with respect to regulations and taxes. The unemployment rate has been decreasing in Collingwood over the past few years. Moreover, it is an employment hub for the South Georgian Bay region. Collingwood has a steady increase in population growth in recent times and this has led to an increase in the business community. The top five industries that are well-known in Collingwood include healthcare, construction, entertainment, advanced manufacturing and recreation. If you want to enter any of these industries, then Collingwood is the best place for you.
Kelowna is a city in the south of British Columbia province in Canada. On the 2016 list of top entrepreneurial cities in Canada, Kelowna was ranked number one. Therefore, at present, Kelowna is Canada’s most entrepreneurial cities surpassing major cities of Toronto and Vancouver. There has been a recent economic growth in the city, especially in the technology sector. In fact, in the last two years, there has been an increase in the number of technological startups in the region. The Okanagan region, of which Kelowna is a part of, has shown an increase of 13% tech startups on a year on year basis. So, if you consider opening a technological startup, then Kelowna is one of the best Canadian cities for entrepreneurs.
Toronto was among one of the cities that was listed in Global Startup Ecosystem Ranking 2015. It is the largest city in Canada and is a huge financial center. The annual business operating costs are significantly lower in Toronto as compared to other leading international cities. Furthermore, the governments of Canada and Toronto provide a range of incentives for businesses to grow and develop. Another great feature of this city is that it has the lowest development charges in the region. Thus, it gives tremendous opportunity to expand your business at low costs. If you want to run a business in Toronto, then business sectors such as technology, life science, fashion and design, food and beverages, green energy, entertainment and digital media are some of the industries to choose from.
The city of Edmonton is the capital of Alberta province in Canada. It has a massive startup culture that leads in Oil and Gas, biotechnology, digital, real estate and others. The city of Edmonton has some entrepreneurial campus and community hubs where entrepreneurs can come together and develop connections and help each other. Some of them include Startup Edmonton, TEC Edmonton and Business Link. Moreover, Edmonton Made, which is a pilot program to provide the best environment for local entrepreneurs to grow and develop, promise to boost local business in Edmonton. So, for startups, Edmonton is one of Canada’s most entrepreneurial cities. The thriving industries in this city include pharmaceutical, technological, real estate and gaming industry to name a few.
Vancouver is situated on the west coast seaport of British Columbia. Vancouver is another city that was listed in the Global Startup Ecosystem Ranking 2015. Nearly 40% of the downtown real estate is occupied by technological industry. Moreover, it is home to a large number of video games studios in the world. Vancouver is known as one of the livable and greenest cities in the world. Hence, it is a city where the number of green products is increasing. Some of the fast growing sectors include green building, carbon finance and investment, environmental protection, alternative energy resources and others. The cross-cultural ties with Europe and Asia, together with business friendly immigration policies have made it possible for entrepreneurs to choose Vancouver for their business operations.
Waterloo is located in Southwestern Ontario and lies adjacent to the city of Kitchener. The manufacturing sector has shown over 55% increase in constructional activities in the last three years. Moreover, the two Universities are the biggest plus point for the region of Waterloo. These universities are instrumental in supplying a regular stream of talented professionals. Furthermore, the region of Waterloo is home to the Institute for Quantum Computing. Thus, if you are a technological company, you can hire new talents for your company as well as develop powerful technologies for future. The Accelerator Centre and Communitech Hub are also two world-leading commercialization hubs in Waterloo. A diverse ethnic mixture along with exceptional educational, cultural and recreational facilities makes Waterloo one of the Canada’s most entrepreneurial cities to start your business.
At the center of the Annapolis Valley, lies Kentville which is a great place to do business. It is a center for legal, professional, financial, government and health services. Also, it has the highest per capita ratio of professionals than any other place in Canada. Hence, it is one of the best Canadian cities for entrepreneurs. Moreover, if you are interested in opening hotels or restaurants, Kentville is the best place to do so. Kentville is well-known for restaurants, pubs, cafes and other eateries. So the service sector is the main focus of Kentville. As per the 2016 Entrepreneurial Communities Report, Kentville was ranked as the seventh best place in Canada for startups to grow their business. This means that it has one of the most active and entrepreneur-friendly business communities in the country.
Apart from the above-stated cities, Ottawa, Calgary, Barrie, Sherbrooke, Penticton are also some of Canada’s most entrepreneurial cities. So if you are looking for a suitable location for your business, then Canada has some hot cities for your business to grow and develop over a period of time. Conduct a detailed research of cities with the help of a resource center in Canada. The research will give you a better idea about what industries are best suited for specific cities. Thus, it will help your business to succeed because of the favorable business environment in some of the best Canadian cities for entrepreneurs.