The City of Surrey has been named as the top destination in Metro Vancouver for starting a new small business. The report by Vancity has Surrey as the best place for aspiring entrepreneurs due to its growing population, affordable business and residential property and low costs of doing business.
“Small businesses are the backbone of our economy and I am pleased that Surrey has been recognized as the best place for new small businesses to set up shop,” said Mayor Linda Hepner. “Given our growing population, affordable property costs and low business tax rates, it’s no surprise that the City of Surrey is an ideal location for new small businesses to prosper.”
The report analyzed seven factors that contribute to small business success, including a thriving market, reliable transportation, cost of doing business, supply chains, personal cost of living, personal support and a culture of entrepreneurialism.
“Local entrepreneurs innovate to create new products and services, generate jobs and help our communities thrive,” said Christine Bergeron, Vancity’s Director of Business Member Relationships. “Location is a primary factor in setting up a small business for success — Surrey is the number one location when it comes to supporting entrepreneurial innovation.”
The City of Surrey also ranked high on the following:
- Surrey received high marks for a thriving market, as the population rose by 18.6 per cent between the 2006 and 2011
- business property costs in Surrey are more affordable due to ample inventory and vacancy
- Surrey and Langley Township received high marks for business taxation rates
The full report, Open for Business: the top cities to start up a small business in Metro Vancouver can be viewed here.