Thinking of launching an independent brokerage? It might be wise to consider the Calgary metro area, according to a new report issued by the Canadian Federation of Independent Business (CFIB).
Calgary periphery, which includes such municipalities as Airdrie, Rocky View and Chestermere, was ranked as the best place for entrepreneurship based on the number of factors, including its number of business owners, the start-up rate, favorable public policy and optimism.
Edmonton and its surrounding areas also scored high, placing third behind Kelowna, B.C.
Brokerage owners in Calgary were not surprised by the ranking, and feel that the beneficial conditions extend into the insurance industry as well.
Alan Jones sold his Alberta brokerage after 25 years and moved to British Columbia, only to return to Calgary in 2009 and begin the process of opening a brokerage anew. While he acknowledges that this “wasn’t easy” and required a tremendous amount of effort and luck, he considers Calgary a tremendous advantage to his eventual success.
“The climate in Calgary has always been favorable for new businesses,” said Jones, owner, Foothills Insurance. “Over the last few years, probably up until the recession, there were 60 to 60 new people moving to Calgary everyday. That’s a pretty climate to open a business.”
While Jones attributes much of his success to hard work, self-sufficiency and “being on top of everything, all the time,” he feels that these are all served well by the good-natured citizens of Calgary – another element that fosters business growth.
“We get people referring business to us everyday, and we don’t advertise. It’s all word of mouth,” Jones said.
For example, although many consumers are moving towards purchasing insurance online or by phone, shoppers in Calgary enjoy going to the Foothills Insurance office and being met by the brokerage’s official greeter: Lola, a four year-old Labrador.
Because of the combination of a business-friendly and people friendly environment, Jones recommends that other brokers seek new opportunities in Calgary as well.
“It’s often ranked high for standard of living, and the marketplace is good. New businesses are opening up daily, and things are changing in Calgary,” he said. “It’s probably one of the worst times for Calgarians right now because of the oil and gas industry, but there’s still people moving here and there are still jobs everywhere. It’s a great place to be.”
The top 10 major cities on CFIB’s entrepreneurial index are:
- Calgary periphery
- Kelowna
- Edmonton periphery
- Saskatoon
- Toronto periphery
- Guelph
- Barrie
- Vancouver periphery
- Regina
- Moncton
The report in its entirety can be viewed
here.
