Why Vancouver is exciting to start a business?

Vancouver is an exciting city to start a business. It is also a city that offers the right ingredients for entrepreneurs looking to start their own business. Let's take a look!

Corporate tax is extremely low

In Canada, corporate tax is a combination of federal and for each province.

For small businesses (income below $500,000) Federal is 9% and BC (British Columbia, this is the state that Vancouver belongs) is 2%, so in total only 11%!

In Japan it is more than 30%, in the US it is 21%.

If you go to Alberta it is even lower, but you can still say Vancouver has a nice low corporate tax rate.

Vancouver's Strong Economic Growth

According to Wikipedia

Vancouver's economy is one of the most vibrant in Canada

From a logistic perspective, Vancouver is a major hub of Canada. As for sea route, it is the official gateway to the Pacific Rim, a major port. Also for land route, it is the main western terminus of transcontinental highway and rail routes.

Based on Vancouver Economic Commission Metro Vancouver's GDP is estimated to be around 6.8% in 2021.

Especially the startup scene in exploding! In 2021 Vancouver there were 45 deals of $880 million worth in VC investment which is double the activity of 2020.

Major economic sectors of Vancouver include trade, film and TV, technology, tourism, natural resources, and construction.

Small city, growing population and diversity

Vancouver is the third-largest metropolitan area in Canada. City of Vancouver has 2,632,000 people as of 2016. Metro Vancouver planners project to add 1 million by 2050.

Vancouver is a progressive and well-educated city that has become a global center for innovation and innovation. Good universities such as UBC, that is ranked 10th in the world according to QS World University Rankings for 2021, help to achieve this.

The city is also one of the most diverse cities in Canada, where there are many different languages spoken including Chinese, Hindi, Tagalog, Korean, Vietnamese and Japanese among others. Despite the diversity in this city, it remains one of the safest cities in Canada. Only 18 homicide reported of 2021, so 0.69 per 100,000 population, which is quite low. (comparisons of rates in 2019)

Tech talent!

In the 2021 Scoring Tech Talent Report by CBRE, Vancouver is 4th in the market, exceeding other major cities in North America including New York, Boston, LA, Ottawa, Calgary, etc.

In addition, it boasts one of the largest concentrations of IT jobs in North America, with companies such as Amazon, Slack, Hootsuite, Trulioo, Microsoft, EA Games, and more, have offices in Vancouver. The combination of these factors make Vancouver an ideal place for tech people!

Vancouver's Business-Friendly Environment

Vancouver is one of the most exciting cities in North America. It has an incredible business climate, a diverse working-class population and a great opportunity to start your own enterprise. As a result of many factors, Vancouver is unfashionably attractive as a place to do business. The city has long been known for its progressive attitude toward the arts and culture.

So Vancouver is great to start a business!

So now that you know this, come start a business in Vancouver!

Btw, it is also a great place to enjoy life, and I will touch on this topic later!