Canada remains one of the top countries in the world to start and run a business, according to a new report from the World Bank Group.
The Great White North was just ranked 14th out 189 countries on the World Banks’ Doing Business 2016: Measuring Regulatory Quality and Efficiency rankings.Canada was ranked 13th last year, a drop of one spot. But, Rita Ramalho, manager of the Doing Business rankings and reports, said this drop is nothing to worry about.
One really respectable thing about Canada is how interconnected things are that new business technologies are lot easier to come about and proliferate.
Take for example the Interac card. The US took a very long time (nearly a decade) before getting the same thing Canada had. And the same was true for chip enabled credit cards and the new tap feature. In most parts of the US you still have to sign for a credit card purchase.
Think about that! When was the last time you had to sign for a card purchase?
It’s things like that, taht make it very unique for businesses to thrive here.
What are the tax structures for businesses there? I am not a Canadian but find it interesting.
I love how there is a New Media fund (a grant) for people wanting to start companies for things like the internet and gaming. That’s pretty cool.
And now with Harper gone we are more likely to see a prospering economy to boot! Canada is in the up and up!
A lot of Chinese come here (BC) to buy a lot of residential property. I dont see them having much care to open a new business. Never understood why.
One pet peeve of mine as a small business owner is why Ontario requires one to pay for an MBL (Master Business License). All other provinces make it free to get the license. CRA doesn’t require it to register.
Because we as a nation don’t do unnecessary wars and don’t cause enemies in international business it makes for a stable place to set up shop and grow. Not a big fan of the currency issue but things might turn around.
And the regulations aren’t bad either! I applaud the nation for being strong against big bank mischief, unlike the Americans. We can have a well off economy and be a haven for new businesses while still protecting the average citizen from business corruption.
The article fails to mention which province is the most preferred place for startups. Would Alberta be better since the sales tax is very low?