Benefits of Starting a Business in Ontario

Whether you’re a new resident to the country or just looking for someplace in Canada to start a new business, Ontario makes a logical choice.  Home to Ottawa, which is the capital of Canada, and Toronto, which is the largest city in the country and capital of the province, Ontario definitely has a lot to offer.

 Where Most of Canada Lives

 

Population-wise, Ontario is a great place to start a business because it has the largest population of any province or territory in the country.  As of 2011, the population of Canada was around 34.5 million, and Ontario was home to over 13 million of those residents.  The next biggest provincial population was Quebec at just under 8 million.

Ontario covers a very large area, but the bulk of the population is in the ‘Golden Horseshoe’ region.  This is an area in Southern Ontario that includes the Niagara region, and wraps around the western end of Lake Ontario at Hamilton, extending northeast through Toronto, ending just east of the big city.

Almost 70% of the people of Ontario live in the Golden Horseshoe and it is well equipped for starting virtually any kind of business.  Any Ontario economic development initiatives will always include this region, so starting a business here provides quite the head start over many other areas of the country.

Ajax, Ontario is included in the Golden Horseshoe and anyone starting a business here will benefit from the concentrated population base.  In fact, Ajax is known as the very first ISO 9001-2000 registered municipality in Ontario and the first fully registered one in all of North America.

ontario

Photo source: http://www.flickr.com/photos/80497449@N04/7384689700/

 

The Best of All Worlds

 

The fact that it is such a hub for all sorts of different industries and a tourist destination is another reason Ontario is worthy of consideration when starting a Canadian business.  People live in Ontario, people do business in Ontario and people like to unwind and play in Ontario.

Its close proximity to different US states is another reason that it’s a desirable spot to start a business.

 

Recession Recovery

 

For those who are into statistics, since the global recession a few years back, Ontario’s real gross domestic product has fully recovered.  By the fourth quarter of 2011, Ontario real GDP was approximately 1.6 percent above its pre-recession levels.  The fact that the Ontario economy has rebounded is a good indication of its overall strength and its sustainability for housing businesses over the long term.

The government is also in on the action with strong Ontario economic development plans and programs to benefit new business owners within the province.  The unemployment rate in Ontario went from 9.4 percent in June of 2009 to 7.6 percent in early 2012.

In fact, the rate at which Ontario is creating jobs is outpacing the rest of Canada, as well as the United States, United Kingdom and all of the Great Lake States.  Whatever type of business is right for you, Ontario is probably the ideal place to start it.

If you are considering in starting a business in Ontario, I would recommend getting more information at the city’s local commerce office.

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