A huge percentage of immigrants and relocators to Vancouver are attracted to the region because of its potential for business. As a matter of fact, a 2016 survey from Profit Guide online magazine has revealed that this city is among the best places in Canada to do business in, thanks to its low crime rate and its sustainability as a community.
Business Stats at a Glance
BC Stats, the statistical authority of the province, reports that as of 2015, there are more than 120,000 businesses in Vancouver. Of these figures, the most popular industries are in construction, retail trade, and in professional and technical services.
Vancouver, along with other major Canadian cities Montreal and Toronto, rank in the Top 4 of the most tax competitive cities in the world, according to a study by KPMG Canada. This attribute indicates that the city has a low corporate income tax, low taxes on goods and services, and also low labour costs.
When it comes to job opportunities, the Business Council of British Columbia reported that nearly 200,000 jobs in the previous years were in the trade industry. Following closely are jobs for healthcare professionals and those offering technical and scientific services. On the average, about 63% of all workers in Vancouver have a bachelor’s degree.
A Great Place to Begin
Given these impressive stats on the impressive business climate of Vancouver, one can see why there is endless potential in the region. For those with the entrepreneurial mindset, now is the best time to look at businesses for sale in Vancouver. Warehouses, vacant lots, large parcels of land, and more — these are found all over the city. There are numerous property listings in various districts of Vancouver, each showing great promise of a productive business, if one knows where to begin.
The Role of a Business Broker
For buyers attempting to open up shop for the first time, a licensed and experienced business broker can be of assistance. They can best advise entrepreneurs on which industries are ideal to venture into, and which locations in Vancouver have the most potential for revenue. The business broker also negotiates between the buyer and the seller, helping both parties to come to a beneficial agreement when closing a sale.
Sources:
Business Broker, Entrepreneur.com
Business Counts and Employment by Industry, BCStats
Vancouver and other Canadian cities fare well in Mercer survey of quality of living, CBC.ca
Canada’s Best Places for Business 2016, ProfitGuide.com
