The business community in Guelph, Ontario is reacting to the Royal City’s position on an experimental index measuring the impact of the business environment in Canada.
from Statistics Canada Real-time local business conditions index ranks Guelph second out of 25 urban centers in Canada as of August 22.
The index places Guelph (with a score of 337.47) higher than Montreal (17th; 233.57), Toronto (22nd; 211.01) and Vancouver (23rd; 209.86). The first was Regina (345.22).
Downtown Guelph Business Association executive director Marty Williams is pleased with the results.
“Main Street business is mentioned and the local nature of independent contractors is measured,” Williams said. “It’s not clear what the real thing is that puts us ahead of our peers. But if we compare apples to apples in these different communities, it says a lot about (Guelph businesses). »
Guelph Chamber of Commerce President Shakiba Shayani agrees with Williams.
“There is a diverse array of industries, post-secondary institutions, research and innovation in Guelph and surrounding areas,” Shayani said.
“That makes it a prime location to do business.”
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The Real-Time Local Business Situation Index measures the impact on businesses in Canada since the start of the pandemic. Statistics Canada uses three components to construct the index: the economic size of a local business district, the operating conditions of businesses in a given region, and the level of business activity in the region using road traffic data.
Williams said it would serve businesses here, especially small businesses, better if there was a further breakdown of the numbers.
“We get as much HST revenue from the food business, and we get as much from the retail business, and as much from the service business,” Williams said. “But you don’t see that level in this index.”
Shayani said while it’s great to see Guelph beating major urban centers, comparing it to a city like Kitchener or St. Catharine’s paints a more accurate picture.
“The aspiration should always be growth,” Shayani said. “But to gauge how we’re doing, it makes more sense to look at more comparable communities.”
Kitchener placed 11th (268.49), London 21st (220.43) and Hamilton 25th (202.64).
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