SASKATOON REMAINS ENTREPRENEURIAL HOT SPOT, SUPPORTED: OCTOBER 2014 REPORT
The Canadian Federation of Independent Business (CFIB) Report has just released their seventh annual ranking of Top Entrepreneurial Communities, and Saskatoon continues to possess the favourable entrepreneurial characteristics the CFIB scores that make a city stand out for their “business presence, policy, and perspective.”
Using fourteen specific indicators, the CFIB report assesses the degree to which cities (grouped by size) enable entrepreneurs and small businesses to start, grow and prosper their ventures. High ranking entrepreneurial cities typically “have the presence of a high concentration of entrepreneurs, high business start-up rate, high level of optimism and success, and supportive local government tax and regulatory policies.”
Among centres with population of 150,000 or more, Saskatoon ranked third in Canada as an Overall Top-Ranked Entrepreneurial Major City in 2014, just behind Calgary and Edmonton. Saskatoon was also ranked the number one city for Entrepreneurial Perspective – those cities that had the most upbeat business owners. St. John’s and Regina ranked second and third.
Saskatoon also ranked third in the category of Entrepreneurial Policy, meaning these cities “tend to have the least distorted property tax systems measured by comparing the relative equity of commercial and residential property tax rates.”
According to Les Smith, City Assessor, these rankings align with the City’s strategic goal of Economic Diversity and Prosperity.
“We continue to create and support a business-friendly environment in Saskatoon, one that maintains fair and competitive tax rates for residential and business property taxes,” says Smith. “Saskatoon’s tax regime has solid, clear and reasonable public policies.”
Large and small companies view Saskatoon as a great place to do business. With a young population and median age of 35, strong manufacturing growth, a resource based economy and overall solid job growth, Saskatoon attracts entrepreneurs that want to start, grow, maintain and prosper their new venture.
“We are a city that celebrates and embraces an entrepreneurial spirit,” says Randy Grauer, General Manager of Community Services. “To support this, we continue to create a business-friendly environment that focuses on our city and region’s competitive strengths; this is a key long-term strategy for the City. We will continue to invest in the infrastructure needed to attract and support new businesses and skilled workers to the city.”
People from across the province, Canada and the world are drawn to Saskatoon for its quality of life, limitless opportunities and highly-skilled and educated workforce. The City of Saskatoon works in partnership with economic development authorities, local businesses and educational institutions to promote and ensure Saskatoon is a great place to live, work and play.