Surrey named best place to open shop

SURREY – Surrey tops small business friendliness rankings, according to a new report by Vancity credit union.

The report, “Open for Business,” looked at 17 municipalities and cities in Metro Vancouver and found Surrey is the place to be for aspiring entrepreneurs “due to its growing population, affordable business and residential property and low costs of doing business.”

Richmond came in second, followed by New Westminster, Langley Township, Langley City, Maple Ridge, Pitt Meadows, Port Coquitlam, Delta, Burnaby, City of North Vancouver and Coquitlam (tied at 11), Vancouver, Port Moody, District of North Vancouver, White Rock, and West Vancouver.

The report awarded Surrey high marks for a thriving market, seeing as the city’s population grew by 18.6 per cent from 2006 to 2011.

It also found that business property costs in Surrey are more affordable “due to ample inventory and vacancy.” It also received high marks for business tax rates.

“Local entrepreneurs innovate to create new products and services (and) generate jobs to help our communities thrive,” said Christine Bergeron, Vancity’s director of business member relationships.

“Location is a primary factor in setting up a small business for success – Surrey is the number one location when it comes to supporting entrepreneurial innovation.”