Canada one of the most competitive countries for businesses
UCW News Team | May 25, 2016
A report by auditing and accounting firm KPMG reveals that Canada is one of the most competitive countries for businesses. The report compiled a list of the top ten countries that businesses are drawn to based on the cost of essentials such as labour, transportation, corporate income tax and facilities.
The report found that Canada was the second most attractive country for businesses among the leading industrial economies. This was primarily due to the continued affordability that businesses enjoy. The KPMG report states that the Canadian loonie played a major role in improving the country’s competitiveness and cost advantage.
Canada placed just behind top-rated Mexico, ahead of the United Kingdom and the Netherlands. KPMG said that the generous tax incentives in Canada and other leading economies spurred the technology and research and development sectors. The report had some surprises as well, with industrial powerhouses the US and Japan coming in last in the list of top ten competitive countries.
The KPMG report highlighted Vancouver, Toronto and Montreal as high-performance cities along with Fredericton. The Canadian cities were ranked higher than any city in the US.
Vancouver and British Columbia’s economic success can be attributed to the diversification of its industrial base. The economy is surging at 2.5 to 3 percent, making it the leading province in the country in terms of job growth in 2015. Experts, including Marie-Christine Bernard of the Conference Board of Canada, agree that the trend of job growth will continue in 2016.
Experts believe that British Columbia has managed to find the right balance between providing services and creating goods, and this has been a major economic contributor. Some of the sectors that will be hiring in the coming years include government administration, post-secondary education, fire department, police, health care and the LNG sector.
Today, Vancouver and other cities in BC are witnessing workers coming in from other Canadian provinces to take advantage of job opportunities. Vancouver is a respected source of skilled workers, which has helped it become a high-performance city.
With Canada offering an attractive destination for businesses, including small business owners, it helps to have an MBA degree. The UCW MBA program helps its graduates acquire the skills and knowledge to succeed in a highly competitive business environment. The program focuses on classroom teaching and real-life case studies to ensure that MBA students learn the nuances of becoming innovative business leaders.