Penticton among top 20 most entrepreneurial cities in Canada

The City of Penticton has been named among the top 20 entrepreneurial cities in Canada by the Canadian Federation of Independent Business – with a 2014 score that puts the Peach City in the top three municipalities in B.C.

“We are open for business, and this ranking reinforces the City of Penticton's commitment to create economic opportunity within the community,” said Penticton Mayor Garry Litke. “Small business is the engine of our economy, and initiating Penticton economic investment zones and keeping tax ratios competitive help entrepreneurs on the path to prosperity. The City of Penticton is pleased that the Canadian Federation of Independent Business has recognized our efforts.”

In its seventh Canada's Entrepreneurial Communities [PDF - 314 KB] report, the CFIB studied municipalities with populations of 20,000 or more and ranked them based on 14 indicators.

The indicators are grouped into three main categories: presence, perspective and policy. Presence includes the representation of the scale and growth of business ownership, as well as industrial diversity, while perspective covers indicators associated with optimism and growth plans. Policy indictors reflect the actions local governments have taken with respect to business taxation and regulation.

The City of Penticton jumped up five places in the rankings this year, landing in 20th place out of 121 mid-sized communities in Canada with a score of 60.3 out of a possible 100 points – tied with Rouyn-Noranda, Que. Penticton had good scores in all three: presence, perspective and policy. The top entrepreneurial city in Canada earned just 72.4 points.

Penticton was among the top 3 most entrepreneurial cities in B.C., just four places behind Kelowna (15) and three behind Chilliwack (16). Penticton was ahead of larger centres like Calgary (29), Winnipeg (61), Abbotsford-Mission (54) and Nanaimo (77), in addition to out-performing other cities from the B.C. Interior, including Vernon (32), Kamloops (48) and Cranbrook (112).