Kelowna's business Boom
Oct 22, 2013 / 1:49 pm
The Kelowna Metropolitan Region (Peachland to Oyama) is Canada's eighth most entrepreneurial city among major cities with a population of greater than 150,000.
The survey, "Communities In Boom" was prepared by the Canadian Federation of Independent Business (CFIB).
The annual report attempts to identify cities’ relative entrepreneurial strengths and weaknesses, looking at 14 indicators applied to 3 main categories to arrive at a score out of 100.
The categories include:
- Presence - A representation of the scale and growth of business ownership as well as its industrial diversity
- Perspective - Covers indicators associated with optimism and growth plans
- Policy - Represents indicators Associated with the actions local governments take with respect to business taxation and regulation
Kelowna, which ranked 15th in 2012, received a score of 59.4 out of 100 in the 2013 report.
Overall, among 107 cities with a population of more than 25,000, Kelowna finished 50th in 2012 and 28th in 2013.
The Kelowna Metro Region received a score of 14.6 out of 25 for Presence, 20.2 out of 35 for Perspective and 24.5 out of 40 for Policy.
“Some measures of what makes a “boom-town” are obvious, such as a high concentration of entrepreneurs and a high business start-up rate,” says CFIB Vice-President & Chief Economist.
“Other indicators are not as obvious, like the level of business optimism and supportive local government. Notice we have no hundreds on the board. These cities are leading the way, but even they can stand to improve in one area or another.”
Greater Calgary, Saskatoon, Greater Toronto, Greater Edmonton and Sherbrooke finished one through five in the major city category.
Greater Calgary, Greater Toronto and Greater Edmonton include the suburban areas and not the cities themselves.
As for mid size cities with a population of 25,000 to 149,000, Penticton ranked 18th in Canada with a score of 59.6.
Penticton received a score of 12.9 out of 25 for Presence, 19.8 out of 35 for Perspective and 26.9 out of 40 for Policy.
The South Okanagan community was 25th overall among all 107 communities ranked. It was 59th in 2012.
Vernon was ranked 47th overall and finished in the top 35 for mid size cities with a score of 55.1.
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School District 23
Okanagan Regional Library
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