There’s nothing more exciting than going into a new business venture that has a potential to grow big beyond your expectation. After deciding on what industry you’ll tap into, the location of where it will be set up is the next thing to consider.
This is a vital decision to your business since location greatly affects its growth and development in most aspects — customer engagement, production deliveries, sales, and profit. It’s a good idea to get some research done to look for the best places that is great for the kind of industry you’re in.
With that said, the question now is where in Canada is the best place to set up your business?
EDMONTON & GRAND PRAIRIE, ALBERTA
You can choose between Edmonton and Grand Prairie. These two cities can definitely be the home of your money-making dream even though they are known for different reasons.
Edmonton is said to be known for oil and manufacturing industries, while Grand Prairie is known for being located in a Regional Trading Area and it’s large size, making it one of the best cities to start something outside the oil industry.
The government and the community in both cities are very supportive of any small businesses ideas. Edmonton even has Edmonton Economic Development Corp which works to build development within the city. There are certain benefits for those who are starting their own small businesses such as getting a grant or a free ride of the property tax for a certain time period.
Reasons to start your business here include great community support resources for entrepreneurs, low startup business cost combined with low cost of living, small business summit, Winnipeg Chamber of Commerce Startup Program, along with many others. With its quality of life in Winnipeg and its great support system, entrepreneurs can surely enjoy the exciting events in Manitoba while earning some money of their own.
Although Milton is known for being so close to downtown Toronto, it’s also becoming known for being quite a fast growing city. Like the aforementioned cities, Milton also has a supportive government to start up businesses. Considering taxes, the Town of Milton has one of the lowest property tax in the Greater Toronto Area. This might be of great help to you and your business.
Whitby is also another fast growing community in Canada. There is an increasing number of small businesses here, and that’s probably a good sign for you to start here as well! Advantages of choosing Whitby as your place of business include central location, educated workforce, business cost, quality of life, and the ‘open for business’ attitude. Whitby is on the north shore of Lake Ontario having transportation linkages to major highways, passenger and freight rail, air and sea, and is near the US border. On top of that, they have very competitive business costs compared to other locations in the GTA.
SQUAMISH, BRITISH COLUMBIA
This town is located north of Vancouver where it’s surrounded by mountains like the Stawamus Chief. Like Milton, it has one of the lowest rates on the property taxes in Canada. Squamish is a great place to set up a business because of the support they give to small and local businesses, while having a good quality of life off work.
These are just few suggestions you could consider. As an entrepreneur, you already know that you should first develop your business idea, conduct a market research, and make a business plan before going further. Canada is a huge country and there are a lot of places to discover that could potentially be the location of your business venture. It all depends on the industry you’re in, your market, and of course for the future of your money-making dream.