Despite the COVID-19 pandemic and US border closures, the Windsor Essex region had the highest rate of increase in the number of active businesses in Canada.
The Windsor Census metropolitan area saw a 19.1% increase from February 2020 to May 2022, according to Statistics Canada data on business openings and closings.
This area is one of two CMAs with double-digit growth. Peterborough rose 13.5% compared to 3.7% in London, 3.1% in Kitchener-Waterloo and 2.0% in Toronto.
Rakesh Naidu, CEO of the Windsor Essex Regional Chamber of Commerce, said:
“We are seeing both organic growth and investment from outside the region. The population is growing and investors are confident not only in the region now, but also in what will happen in the next five years.” .”
In February 2020, the Windsor CMA counted 7,249 active businesses, increasing to 8,635 by May 2022. By comparison, Statistics Canada said he had 11,243 businesses in London in February 2020, and 11,664 by May 2022.
Naidu noted that the positive numbers were generated without any influence from the NextStar battery factory or supply chain in Southwestern Ontario’s all-new automotive ecosystem.
Most of the new businesses launched in the last few years had fewer than 10 employees, but during the pandemic Windsor’s number of new businesses brought in net income each month.
“Small businesses are the real engine of the economy,” says Naidu.
“Windsor’s inherent strengths of low cost of living, proximity to the US market, reduced costs of doing business and a growing population resonate with people.”
Workforce WindsorEssex CEO Justin Falconer said there has been significant growth in entrepreneurial sectors of one to four employees in the logistics industry (79 start-ups), construction (45), and home delivery services (67). said. Professional services industries such as real estate also saw an influx of over 800 agents during the housing boom during the pandemic.
Overall, between February 2020 and May 2022, there were 897 new business net gains in the region.
“Windsor is a little blind to its reputation for being female entrepreneurs and no entrepreneurs,” Falconer said.
“This is a moving indicator. Windsor residents set up businesses and two years later they are still running them.”
Atiyyah Ferouz is one of the female entrepreneurs who launched in November 2020.
Previously operations manager at a greenhouse in Leamington, Fellowes now travels the globe with cannabis consultancy Agcann Consulting Ltd.
“Starting a business in the early stages of COVID was a bit of a challenge,” said Ferouz, who added the tutoring business Tutor Doctor to her portfolio two months ago.
“I wanted some flexibility and more control over my schedule. I decided to give consulting a try, so I quit my full-time job.
“The biggest challenge in the first seven months was travel. I spend about six months in Europe and six months in Canada, but I also have clients in South America and Australia.”
A native of Trinidad who grew up in Mississauga, Fellowes said he wasn’t surprised by the strong growth of new businesses in his hometown.
“The entrepreneurial spirit in this community is very fostered and they are introducing businesses to each other,” Ferouz said.
“It’s a very supportive community and it feels like a safe place to get out.
“The Windsor Essex Small Business Center is also a great resource. That’s another reason people are breaking out all the subsidies and support that’s being offered.”
Increased local population, employment ideal for attracting new businesses, says WEEDC
Canada’s fastest growing Windsor Essex business
Stephen MacKenzie, CEO of Invest WindsorEssex, said the data is a testament to the resilience of local residents and the collaborative approach taken by business organizations and political and educational leaders in the sector to build support for entrepreneurs. I said yes.
Mackenzie feels that the surge in business formation has also been influenced by people with different lifestyle choices and the emergence of opportunities to take advantage of the rapid technological growth of self-driving and electric vehicles locally. added.
“This (19%) is an amazing number,” Mackenzie said. “We have resilient regions. People are used to ups and downs and adapt.
“History has shown that entrepreneurship and innovation flourish during periods of economic downturn. Many start-up programs are in place and they are paying off.”
Windsor CMA Gas wins nearly 1,400 more business
Source link Windsor CMA Gas wins nearly 1,400 more business