/You guessed it right! Edmonton – Canada’s Leading city for Entrepreneurs

You guessed it right! Edmonton – Canada’s Leading city for Entrepreneurs

Everyone knows Edmonton is the city for entrepreneurs and Communities of Bloom is another study which confirms this. A report compiled by the Financial Post and the Canadian Federation of Independent Business, published in October 2013, the report ranks Greater Edmonton and Edmonton City as 4th and 6th respectively. This is not the first time, nor the last that Edmonton has ranked in this report.

For a variety of reasons, Edmonton has turned into a powerhouse for entrepreneurs. If you watch a bit of television, you’ve probably heard of Untamed Feast’s appearance on the entrepreneurial show Dragon’s Den.

Support System

Have the perfect business idea, but just don’t know how to execute it? There are plenty of entrepreneurial organisations that have roots in the government and the private sectors that are there to help everyone out. From getting through the basics, doling out advice to holding networking events, the organisations offer plenty of help.

At the same time, these organisations are constantly lobbying the government to work towards creating a positive policy environment for the business community.

South Edmonton Business Association, West Edmonton Business Association, Kingsway Business District Association, B2B Connect EdmontonBusiness Link and Edmonton Economic Development Corporation are some of the organizations that work for the business community.

Political Involvement

The government is necessary to keep the rule of law for start ups to function. The Mayoral Elections was a month ago and Don Iveson emerged as the winner. An important promise of Don Iveson during the election campaign was the reduction in red tape to make things easier for start ups to run their business.

Office Location

While many start ups have modest beginnings, no one wants to stay there. Edmonton, when compared to the other cities in the country, offers inexpensive real estate. That means you can rent an office space in an affordable price. Many of those support organisations such as Business Link, Startup Edmonton and Edmonton Economic Development Corporation offer cheap and shared office spots.

Sweet Success

You’ve probably heard of BioWare, Stantec and The Katz Group. These household names in Edmonton were once start ups in the city which have grown huge and are now regarded as the industry leaders.

Untamed Feast used to be situated at Vancouver Island, but recently shifted to Edmonton for obvious reasons. Yardstick, a business training solution start up, has grown from $5.3 million in 2011 to $6.2 million in 2012. There are many more such examples.

The Future

Currently, there are two big projects that are driving Edmonton’s economy forward. The Downtown Hockey Arena being managed by the Katz group costing over $400 is under works. Once the arena is up, Edmonton will see a boost of hockey tourism and the real estate of the down town area will increase further.

The second one is a retail project known as Manning Tower Centre which is managed by Cameroon Development. This project will further boost Edmonton as a retail powerhouse.

For Edmonton, the future is looking more and more towards entrepreneurial businesses which cross plenty of boundaries. The nurturing warmth of City Administration, ever helpful business incubators and affordable real estate are the major reasons for Edmonton being crowned as Canada’s leading city for entrepreneurs.

Original Source

Narissa is the Brand Advocate at @RapidBoost Marketing. She is enthusiastic about helping others and committed to educating clients and she takes the initiative to make change happen. With previous experience in the financial industry and as an Entrepreneur, Narissa understands what it takes to market and grow your business. She is a connector and advocate for small business in Edmonton, and you can always find Narissa on Twitter at @narissa_singh.