Kelowna is British Columbia's most entrepreneurial city when looking at cities with populations over 150,000 and eighth in Canada overall, while Vancouver does not break the country's top 10, according to the results of a Canadian Federation of Independent Business (CFIB) study released October 21.
The study compared cities with census metropolitan areas that have populations greater than 150,000 across Canada and ranked them based on 14 criteria, which included business establishments per capita, the percentage of total employment that was self-employment, expected future business performance, local government regulations and taxes.
"Growing communities raise property values, utilize infrastructure more effectively and provide residents with a greater range of economic and social opportunities," said Ted Mallett, CFIB vice-president and chief economist.
"While we recognize communities that do this well, it's important to acknowledge that all Canadian cities could do much better, particularly in addressing fairness issues around business property tax."
Cities were given a score out of 100 to rate them in terms of how well they work to create an environment where businesses can thrive. The top 10 scores for cities with populations greater than 150,000 were found in:
- Greater Calgary (68);
- Saskatoon (67);
- Greater Toronto (65);
- Greater Edmonton (64);
- Sherbrooke (62);
- City of Edmonton (61);
- Regina (61);
- Kelowna (59);
- St. John's (58); and
- Saguenay (58).
Vancouver's overall score was 56.
The report explains that when smaller cities with populations of less than 150,000 are included, Penticton joins the list, ranking 25th overall in Canada – beating out Kelowna, which ranks 28th.
