10 Reasons Why Now is the Right Time To Start a Business in Victoria

Whether you’re planning to start a new business or moving the one you have, there are some solid reasons to consider relocating to Victoria, BC’s beautiful capital city. Voted the Best City For Young Professionals, Canada’s Smartest City, and the Best Place for New Immigrants, Victoria is the perfect mix of a great place to do business and a great place to live.

Here’s why:

1. You’ll enjoy world class amenities and culture
Victoria’s vibrant, welcoming multicultural community of nearly half a million people enjoys superb world-class amenities. Food, festivals, and a gorgeous climate also nurture a robust billion-dollar tourist trade.

2. Victoria has 400 Tech Companies – Join in!
Victoria’s thriving tech sector of 400 firms boasts $4 billion in revenues and employs nearly 20,000 people at higher wages than the average Canadian earns.

3. Access a highly-skilled pool of talent
Four large post-secondary institutions graduate enthusiastic job-ready young people. Victoria’s attractive immigration policies, ongoing training opportunities and high standards of education continue to enrich its skilled labour pool.

4. Create job security and a valuable asset
Create your own business, and you won’t be a victim of Finance Minister Morneau’s “job churn.” You don’t have to accept the trend of short-term employment if you are the boss! You’ll also have a high-value asset to sell in the future.

5. Start-up costs are low!
The costs of starting a business in Canada are among the lowest in the G20. In BC government assistance with start-up costs is available along with guidance and one-stop services for entrepreneurs. And tax perks are pretty cool too!

6. Reap the rewards of networking
Victoria and its numerous business-related organizations (chambers of commerce, YES, HOST, SME, BNI, Meet-Ups, and more) offer a plethora of networking opportunities.

7. Love life outdoors!
It’s all about balance, and as a business owner in Victoria, you will love being outdoors. Cycle, walk, hike, feel the fresh sea breezes, as you enjoy the mildest climate in Canada. Victoria is a playground like no other.

8. You are what you eat
If you like dining out, Victoria has the second highest number of restaurants per capita in North America. And we are a city of artisanal foods, local organic produce, the best (we think) craft breweries, and friendly local markets. Eat well – feel well. Be happy!

9. Pursue your passion and grow your friendships
Your circle of friends and acquaintances always grows when you become an entrepreneur, as many founders need others to lean on to survive and talk about their unique challenges. With over 60,000 small businesses on Vancouver Island, you will never be lonely!

10. Be recognized as awesome
Victoria and BC award entrepreneurs in every field and industry. From the Douglas Magazine ’10 to Watch’ awards from VIATEC Awards, Social Media, EcoStar, BC 40 Under 40, and soon the SOHO Awards. Maybe it’s not your first goal, but recognition is always a great feeling.

Bibliography

• http://nationalpost.com/news/canada/get-used-to-the-job-churn-of-short-term-employment-and-career-changes-bill-morneau-says
• http://www.timescolonist.com/business/b-c-s-tech-job-force-bigger-than-mining-oil-and-gas-forestry-1.7897755
• https://www2.gov.bc.ca/gov/content/data/statistics/business-industry-trade/small-business
• http://www.golfnewsnow.ca/blog/whats-your-read-on-personal-job-security-in-2017/
  http://pwp.vpl.ca/siic/small-business/starting-a-bc-business-for-newcomers/
  http://www.victoriachamber.ca/about_victoria/starting_a_business_in_victoria.aspx
  https://www.bdc.ca/en/pages/home.aspx