Tuesday, October 04, 2011

Forbes: Canada Best for Business!!

Though we can certainly do much better in terms of taxes and red tape, Canada is judged number one by Forbes for business. American refugees from Bo are welcome here!!

Canada ranks No. 1 in our annual look at the Best Countries for Business. While the U.S. is paralyzed by fears of a double-dip recession and Europe struggles with sovereign debt issues, Canada’s economy has held up better than most. The $1.6 trillion economy is the ninth biggest in the world and grew 3.1% last year. It is expected to expand 2.4% in 2011, according to the Royal Bank of Canada.


Gallery: The Best U.S. Cities For Business And Careers
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Canada skirted the banking meltdown that plagued the U.S. and Europe. Banks like Royal Bank of Canada, Bank of Nova Scotia and Bank of Montreal avoided bailouts and were profitable during the financial crises that started in 2007. Canadian banks emerged from the tumult among the strongest in the world thanks to their conservative lending practices.

Canada is the only country that ranks in the top 20 in 10 metrics that we considered to determine the Best Countries for Business (we factored in 11 overall). It ranks in the top five for both investor protection as well as lack of red tape, which measures how easy it is to start a business.

2 comments:

Anonymous said...

In light of Forbes citing Canada as the best place for international business opportunities, Hudak's plan to implement a 10 percent corporate tax rate should clinch substantial business for Ontario. With this, despite the predicted economic downturn, Ontario could and should forge ahead with new business entries to the province.

The TEN PERCENT RATE and its business potential going forward could be the highlighted item in the next couple of days. It's a vote grabber or should be.

David said...

Recent improvements in corporate tax (harmonization in British Columbia and Ontario) helped to gain this representative position. Though, I agree with you there is still a lot to do with taxes, thus it is not time to slow down. These numerous victories should serve us as catalysts...

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