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Is Toronto a Good Place to Open a Business?

You’re ready to open a business and you’re thinking Toronto may be the place for you. How will you know? We’ve done a little bit of research for you that will show you that Toronto is definitely the place to be for business.

Growth in Business and Technology

Toronto Business TechnologyAccording to Toronto.ca, over the past two years Toronto has been attracting businesses. Offices are filling up with new businesses and businesses that are relocating to the Toronto area. A city that is attracting business is a great place to open a business as customers are already on the influx.

Technology is not only growing in Toronto and Canada but the government supports it, citing that it’s a “catalyst for further private sector activity and innovation”. The world is becoming more technologically oriented; placing your new business in an environment where technological development is supported as well as encouraged can only lead to good things.

Small Business Support

According to news.ontario.ca the government of Canada not only supports small businesses, they strive to provide integrated support and make it easier to get help. Government website offer easy to find guides to help you establish and grow your business. The Canadian Government is often willing to provide funds and tax breaks to help.

Population Growth

Toronto PopulationThe GTA’s population is projected to increase 44 percent over the next 25 years, according to thestar.com. Where there are people, there are customers. As people move into a new location they need the same products and services they used to use where the previously lived. Now is an ideal time to open your business in Toronto in order to service the influx of potential consumers.

Diversity

Toronto Business DiversityToronto is home to peoples of many different cultures and will continue to be so. Diversity creates a healthy environment in which a new business can establish itself. You’ll be offered an opportunity to share your products and services with new people who will, in turn, share them with others. Diversity opens new markets that may have been closed or difficult for businesses to reach. New immigrants may have ties back to their old homelands which has the possibility of opening up even more untouched markets to your business.

GDP Growth

Canadian GDPIn this recent time of economic uncertainty, Canada’s GDP has remained steady, if not grown. The Canadian dollar continues to hover at and above parity with the US Dollar. It doesn’t take an expert to know that an economically stable country is an excellent place to open a new business.

Opening a new business can be a scary undertaking. Toronto Canada has the economic structures and support in place to host new businesses. With governmental support and a population influx in need of your products and services Toronto is an ideal place to start a new business.

 

Sources and Resources:

http://wx.toronto.ca/inter/it/newsrel.nsf/7017df2f20edbe2885256619004e428e/0acebd2857f5bad185257ab00058a5e5?OpenDocument

http://news.gc.ca/web/article-eng.do?nid=657629

http://news.ontario.ca/mgs/en/2010/02/governments-of-canada-and-ontario-support-small-businesses.html

http://www.fin.gov.on.ca/en/bpssupplychain/documents/bps_doing_business_handbook.html

http://news.ontario.ca/medt/en/2012/09/eastern-ontario-entrepreneurs-innovate-and-grow-the-economy.html

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