Entrepreneurial Communities shows some NS communities making gains, while NL municipalities struggle.
Kentville, Nova Scotia, Atlantic Canada’s Most Entrepreneurial Community
Halifax, October 17, 2016 – Kentville, Nova Scotia is being rated the most “entrepreneur friendly” community in Atlantic Canada. This is one of the findings of the 2016 Entrepreneurial Communities report from the Canadian Federation of Independent Business (CFIB). The annual report uses 14 indicators to determine which Canadian cities offer the best entrepreneurial environment. The Annapolis Valley town also broke the top ten nationally, ranking seventh among 121 cities across the country.
The report looks at a variety of factors including the scale and growth of business ownership, industrial diversity, indicators associated with optimism and growth plans and actions taken by local governments on business taxation and regulation.
“This report is designed to both recognize the efforts made by communities to encourage entrepreneurs and to reflect owner’s attitudes toward the local business environment,” Jordi Morgan, VP Atlantic for CFIB explained. “These indicators provide insight into what’s working and what can be improved to assist small- and medium-sized businesses.”
While six Atlantic municipalities saw declines in their 2016 scores, most Atlantic communities registered healthy increases. St. John’s, Newfoundland saw the largest drop in its 2016 score (a decline of 8.4 points), followed by Cape Breton (decline of 5.8 points) and Corner Brook (decline of 3.8 points).
The most improvement was seen in New Glasgow (increase of 10.6 points), Kentville (gain of 8.4 points), Truro (gain of 7.4 points) and Charlottetown (gain of 6.5 points). These positive changes highlight the steadily improving levels of optimism in the Maritimes during the past year which translates into more robust hiring plans, construction start-ups and business establishment growth. At the other end of the spectrum, Newfoundland and Labrador communities saw a diminished optimism coupled with weak hiring plans and high local taxation.
Morgan added, “While we’ve seen a marked improvement in optimism and business growth in some communities, all municipal governments can do much more when it comes to reducing red tape at the local level and rebalancing the property tax load between residents and businesses.”
To arrange a media interview with Jordi Morgan please contact Ryan Richard at (902) 420-1997 or [email protected].
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region. CFIB represents 5,000 members in New Brunswick; 5,200 in Nova Scotia; 2,000 members in Newfoundland and Labrador and more than 1,000 members on Prince Edward Island.