There has been notable growth and evolutions in the city of Toronto since its establishment in 1793. Today, it ranks as the largest contributor to Canada’s economy with a whopping 20% contribution of the national GDP.
In this post, we will examine why Toronto is the upcoming hotspot for both Canadian and international job seekers looking to establish a career or business.
The future of Toronto as a business hub and Canada’s financial centre is bright and promising.
This is due to the following attributes:
- Toronto has a large market with a population of 2.8 million people.
- There is the availability of skilled labour as 64% of this city’s population has post-secondary education.
- Toronto enjoys one of the best transportation systems in the world. This is a key requirement in every business.
- It is also home to millions of researchers, business incubators, and the world’s largest financial providers.
Toronto is Ontario’s capital and the fifth-largest city in North America. It is home to some of the world’s most iconic features, such as the CN Tower, the tallest free-standing structure in the Western Hemisphere.
The province also boasts an outstanding entrepreneurial spirit with its best performance in industries such as the tech sector, life sciences, aerospace, art and design, film and television production sector, digital media, and food and beverage industries.
Anyone looking to start a career in these industries should definitely consider Toronto as their premier destination.
How To Start a Career or Business in Toronto
Though a promising city to job seekers and businesses, it’s also a known fact that establishing yourself here is not always the easiest of tasks due to a competitive and highly talented market.
Therefore, anyone intending to test the waters in Toronto for a career or business might consider starting out in the surrounding areas, known as the Greater Toronto Area (GTA).
For example, anyone choosing to hire or seek work from an employment agency in Mississauga, Toronto’s more affordable and closest neighbour, will have an excellent foot in the door to Toronto.
The Greater Toronto Area ranks as one of the easiest cities to secure employment in North America with a 95% employment rate. Moreover, the reopening of the economy in June 2020 led to a 5% increase in employment opportunities from the 1,569,800 jobs available in 2019.
It’s also the world’s fastest-growing region for high-tech. Anyone seeking employment or looking to start a business should rest easy as the Greater Toronto Area has all you need with these statistics.
Comfortable Working Environment
Toronto is one of the easiest cities to run a business. It boasts a supportive government that offers favourable incentives ranging from competitive taxes and a peaceful political environment needed for startups and well-established companies to thrive.
Moreover, the cost of running a business in Toronto is much lower than that found in other areas. Because of its undisrupted financial stability, Toronto is less likely to suffer from inflation and fluctuations in the exchange rate.
High Levels of Immigrants
Toronto is home to millions of immigrants. According to the 2016 census, 47 per cent of the population in this city was immigrants. This multicultural environment is perfect for selecting the very best talent from all over the world, and also creates an inclusive working atmosphere.
It’s Strategically Located
One major concern when starting a business is where to find raw materials and customers. This, however, doesn’t have to bother you when establishing a business or seeking employment in Toronto, as the city is well connected to a reliable transportation system.
For example, Toronto’s Pearson International Airport is located within the city’s central business district near Mississauga, making it easy to access. The area is also enriched with a well-advanced road network system, Canada’s most sophisticated local transit system and many distribution facilities.
Toronto Is One of the Fastest-Growing Cities in North America
It’s common knowledge that establishing a business or seeking employment in a fast-growing city is the best decision for anyone who wishes to get the very best out of their career or business.
Toronto has, for example, some of the most skilled and talented workforces in North America. The residents here are also well educated, with 64% of them having attained post-secondary education. This makes it easier to locate a skilled labour force for your business.
It Is Doing Well Economically
It is the wish of every person to establish their career in an economically abled environment such as Toronto. Today, this city’s economy is the main contributor to Canada’s GDP. Moreover, Toronto is the second-largest financial centre in North America, and this gives it economic advantages over its competitors.
Since 2009 things have gone in its favour, with its GDP growing at an encouraging rate of 2.4 per cent annually compared to the national rate of 1.8 per cent.
Conclusion
Toronto is one of those cities you don’t have to fear investing in as the environment is friendly and chances of making it are higher. Moreover, the authorities here are supportive and always have your back.
Therefore go ahead and grow your career by starting that dream venture or applying for the many fulfilling job opportunities in this city today.
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