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Editorial: Mixed marks on Vancouver's business report card

When it comes to being an international urban cultivator of entrepreneurial success, the city of Vancouver is holding its own in some categories, treading water in others and falling short in several critical arenas.
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When it comes to being an international urban cultivator of entrepreneurial success, the city of Vancouver is holding its own in some categories, treading water in others and falling short in several critical arenas.

That’s a summary overview of the city’s report card taken from an Oberlo study of best places to start and cultivate a business. 

The analysis from the Shopify subsidiary, which helps entrepreneurs set up online businesses, shortlisted 75 major cities from a group of 200. Rankings to determine which cities’ ecosystems do the best job of supporting the development, financing and cultivation of durable companies are based on factors ranging from economic freedom and logistics to business taxation. 

Vancouver holds its own in the top 75 with an overall ranking of 28. That’s well behind Toronto (No. 17) and Seattle (No. 13), but well ahead of Montreal (No. 36). 

Vancouver scored in the top five (No.4) in the category measuring the least number of days needed to set up a limited liability company. It also ranks well in the strength of its economic freedom (No. 19) and ease with which female entrepreneurs can set up businesses (No. 29). 

But Vancouver’s report card also shows where the city needs remedial classes to improve its top 75 ranking. For example, Vancouver is a major North American port city, but its logistics ecosystem ranks a relatively mediocre 36 out of 75. That’s behind close neighbour and port competitor Seattle (No. 33) and miles behind transpacific cargo hubs like Hong Kong (No. 1) and Singapore (No.2). 

Most concerning, however, is Vancouver’s showing in the business taxation category, where it ranks dead last at 75. The shortcoming here is Canada-wide: Montreal (No. 74) and Toronto (No. 73) are only marginally less punitive to their business communities. 

If Canada’s cities hope to develop into top global urban enterprise hubs, they need to reconsider the financial payload they place on their business communities.