We're Number One!

Kelowna ranked as top entrepreneurial city in Canada for 2016.

What better way to celebrate Small Business Week (Oct.16th to 22nd) than with a number one ranking of top entrepreneurial city in Canada!

The Financial Post's annual ranking of the top entrepreneurial cities in Canada was released today, and Kelowna, BC takes the top spot. The Entrepreneurial Communities report released by the Canadian Federation of Independent Business (CFIB) was used to compile the rankings.

The report is the ninth annual look at what entrepreneurial characteristics Canada's largest cities possess. According to the report, for the first time in five years, the top-ranking large community is not the grouping of municipalities that surround Calgary. That honour goes to Kelowna—moving up to take the top spot. The Toronto periphery, approximating the commonly known ‘905’— which includes a dozen municipalities in Peel and York regions—takes second place, followed closely by geographic proximates Barrie and Guelph.

Screen Shot 2016-10-17 at 3.52.29 PM.pngPhoto Credit: CFIB

Among mid-sized cities, BC's Penticton ranks number three, followed by Chilliwack at number six, and Salmon Arm at number nine.

Screen Shot 2016-10-17 at 4.37.28 PM.pngPhoto Credit: CFIB

The report covers 14 entrepreneurship indicators, grouped into 3 main categories: 

  • Presence is a representation of the scale and growth of business ownership.  
  • 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. 

It scores each of the 14 data series out of 100 (highest) and 0 (lowest). These values are arranged in their three main groups and then weighted to arrive at an overall score, also a value between 0 and 100. Top scoring cities receive a score near the 70 mark, while low-scoring cities are closer to 40.

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