Northern Ontario’s four largest cities have been ranked in Communities in Boom, an entrepreneurial index conducted annually by the Canadian Federation of Independent Business (CFIB).
The federation examined 103 cities across the country with a population of 25,000 or more. It used a number of variables to measure entrepreneurial activity in the communities, including a high concentration of entrepreneurs, a high business startup rate, high levels of optimism and success in business owners, and good public policy.
Overall, Sudbury was the highest ranking northern city, coming in at number 16, while Sault Ste. Marie followed closely behind in the number 23 spot. Timmins ranked number 39, while Thunder Bay came in at number 62.
Indicators used by the federation were grouped into three main categories: presence, which represents the scale and growth of business ownership and industrial diversity; perspective, which covers indicators associated with optimism and growth plans; and policy, which represents indicators associated with the actions local governments take with respect to business taxation and regulation.
Sudbury ranked amongst the top-scoring cities in the “perspective” category, while Thunder Bay came in a top spot in the “policy” category.
For the full report, visit www.cfib-fcei.ca.
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