As the annual Entrepreneurial Communities report released its 10th edition, Squamish was named one of Canada’s top 10 communities for entrepreneurship.
“Small businesses are the backbone of the Canadian economy, bringing jobs, new products and a sense of identity to their communities,” the Canadian Federation of Independent Businesses (CFIB) vice-president and chief economist Ted Mallett said in a press release.
“We want to celebrate that and congratulate the cities that have landed on the top of our list this year by embracing entrepreneurial values and understanding the needs of small business owners.”
Among Whitehorse, five communities in Quebec, one in Ontario, Alberta and Manitoba, Squamish was the only B.C. community named, and came in at the 10th spot.
The Canadian Federation of Independent Businesses uses several factors to make the list, including earning levels, optimism, growth plan and local tax policy. It notes larger urban communities ranked farther down on the list of 125 most populous communities because they face higher costs and more competition.
“What the top communities have in common is strong policy that supports small business owners and fosters entrepreneurship, namely close ratios between residential and commercial property taxes,” Mallett said.
Quebec communities took up half the spots in the top 10 because it has a one-to-one balance between commercial and residential taxes.
