CITY FOCUS | TORONTO
IS TORONTO GOOD FOR BUSINESS ?
Toronto is up there with the best locations in North America , and perhaps the world , to start a business .
From a taxation perspective , Ontario has one of the lowest basic corporate tax rates in Canada , standing at 11.5 %. However , the province ’ s small business deduction scheme offers a lower rate of 3.2 % to firms with revenue dipping below US $ 500,000 , a threshold which has been in place for more than a decade .
What ’ s more , startups can benefit from a wide range of grants , incentives and rebates offered by the City of Toronto to business owners .
Meanwhile , the Toronto Business Development Centre is one of the city ’ s oldest business support groups , having been set up by the local government back in 1990 . Over the past 33 years , the not-for-profit , multi-sector incubator has helped fledgling companies to launch , grow and scale , serving as a bridge between entrepreneurs and Ontario ’ s investors , industry associations and government .
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