Vernon Ranks 15th in Canada

Vernon Morning Star

City ranks well in report
By Richard Rolke - Vernon Morning Star
Published: October 24, 2009 12:00 PM

Vernon is the place to be if you want to establish a business.

A recent report by the Canadian Federation of Independent Business ranks Vernon as the most entrepreneurial city in B.C. and 15th in Canada.

“It’s a very positive report,” said Kevin Poole, the city’s economic development officer.

“We’re a community being recognized on a national scale.”

The study looked at a number of indicators including net business start-ups, businesses per capita, self-employment intensity, industry employment diversity, future business performance, cost of local government, government sensitivity to local business, regulations and tax balance.

Out of an overall score of 100 among 96 Canadian cities, Vernon was 55.9 while number one was Saskatoon, Sask. at 64.2.

“There is a lot of room for improvement,” said Poole, pointing out that no city came close to 100.

“We can look at the report and see where we are lacking.”

Vernon did far better than other nearby cities, though. Kelowna was listed 19th, while Penticton was 57 and Kamloops was 64. Vancouver was 93.

In the individual categories, Vernon’s best performances were for future business performance, future full-time hiring expectations, cost of local government and local government regulation.

Its poorest showing was for local government tax balance, sensitivity to local business and net business start-ups.

One of Poole’s main focuses is small-based entrepreneurs, particularly when they are trying to get their operations off the ground.

“That’s when they need the most support,” he said.

“If we create the right environment, they will come here and bring their business with them.”

While lifestyle and recreational opportunities were not factors in the report, Poole believes they provide significant influence when investors are looking to move to the North Okanagan.

“We’re in a desirable area to live and that attracts the entrepreneurial environment,” he said