Doing Business in British Columbia

British Columbia and Vancouver offer a low tax, low cost business friendly environment

In KPMG's Competitive Alternatives 2012 report, the cost of a Professional Services business in Vancouver ranks as the fourth lowest of large cities in North America ('large' cities are cities with a population over 2 million).

(Professional Services includes international financial services, securities/currency trading, wealth/fund management, and treasury business.)

Doing Business in British Columbia

• Vancouver ranked #16 in the latest Global Financial Centres Index published in September 2012. Vancouver was ranked #8 as a location for global wealth management.
• The Government of British Columbia predicts real GDP will grow 1.8% in 2012 and 2.2% in 2013. Employment is expected to increase 0.9% in 2012 and 1.4% in 2013.
• Moody's and S&P continue to give British Columbia their highest rating (AAA).
• More than 90% of electric power in British Columbia originates from hydroelectric generation. Costs are among the lowest in North America.
• The bilateral Trade, Investment and Labour Mobility Agreement between B.C. and Alberta was fully implemented on April 1, 2009, removing trade barriers that restricted the free movement of people, goods and services between British Columbia and Alberta, thus boosting B.C. ’s competitiveness and reducing costs for business.
• In 2012, more than 2.45 million people were in British Columbia’s labour force and the average monthly unemployment rate was recorded at 7.1 per cent.
• B.C. has initiated the $3-billion Gateway Program, the largest infrastructure project in British Columbia’s history, helping expedite the movement of goods – by truck, train, airplane and ship – and encouraging Asian importers to choose B.C. as their North American transportation hub.
• Over the last eight years, over 100 tax cuts have been introduced. As a result, B.C. now has some of the lowest taxes in North America.

Doing Business in Canada

• In response to Canada’s improved fiscal balance sheet and excellent long-term growth prospects, the country has enjoyed a AAA international credit rating (the highest rating) from Moody’s Investors Services since 2002. In the mid-1990s, Canada’s total net debt-to-GDP ratio was the second highest in the G7. Today, it is the lowest.
• The World Economic Forum’s Global Competitiveness Report found that Canada has the soundest banking system in the world. Canada's well-regulated financial institutions, banks, trust companies, cooperatives, insurance companies and stock exchanges, have demonstrated stability and competitiveness that has made their services popular around the world.

Return to top of page