Collingwood, ON and Kelowna, BC atop the mountain for their business moxie
Toronto, October 17, 2016 – Governments and policy-makers seeking inspiration on how to promote business growth and foster entrepreneurship don’t need to look any further than CFIB’s ninth annual Entrepreneurial Communities report.
The rankings show a notable trend in favour of regions surrounding Canada’s large metropolitan areas, with Collingwood, Ontario taking the top overall spot and Kelowna, BC scoring first for larger cities.
“What’s most striking about the rankings is how many of these communities are in the outlying suburban areas,” said CFIB chief economist Ted Mallett. “The suburban ring areas surrounding major metropolitan centres score higher than the downtown cores, which may speak to lower relative costs and nearby access to large markets.”
Ontario communities fared well in the 2016 rankings, taking three of the top 10 spots for major cities and two for mid-sized cities. British Columbia cities are also well-represented, taking three of the top 10 spots for both large and mid-size cities.
Broad economic conditions are clearly reflected in this year’s rankings, with a number of Alberta communities sliding downwards due to fallout from low oil prices and a sluggish provincial economy.
The report comes at the beginning of Small Business Week in Canada and takes an in-depth look at how 121 cities/economic regions support and promote entrepreneurship. It scores each of them out of 100, examining 14 indicators across three main categories – Presence, Perspective and Policy.
“It’s a great tool for communities and business owners to gauge what’s working and what’s not when it comes to laying the groundwork for entrepreneurial growth,” added Mallett. “It’s like a snapshot in time that reflects business confidence and government policies that shape the business landscape.”
Read the full rankings here.
To arrange an interview with Ted Mallett, please contact Kiara Morrissey at 416-222-8022, 647-464-2814 or [email protected].
CFIB is Canada’s largest association of small- and medium-sized businesses with 109,000 members across every sector and region.