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Spotlight On Vancouver British Columbia: A Thriving Modern Business & Financial Center

Vancouver is a Canadian city that has enjoyed a strong reputation for quite some time now as a real jewel of Western Canada, and it is hard to argue with that description. Surrounded by arguably some of the most beautiful natural scenery in the world and enjoying a moderate climate, the city and surrounding area has long been a favorite tourist destination but in the past decade Vancouver has also emerged powerfully in another way: as a thriving modern business and financial center growing in importance not just in Canada but on the world stage, as well.

Growing Financial Center

The financial district is pretty easy to pick out in town as it is a grouping of high rise buildings that are located in the central business district of the city. As recently as 2008 the city was ranked 33rd on the renowned Global Financial Centre Index list, which isn't bad at all, to begin with, but the last decade of significant growth and investment has shown as Vancouver continued to climb the ranks and as of 2016 was listed all the way up at 20th! This reflects the strong growth in reputation that Vancouver has enjoyed over the past decade. There are many reasons behind this. One is the fact that business growth, in general, has been outstanding in the city over the past decade especially when considering that growth has happened through a major worldwide recession and through the recovery that took place after the fact. There are multiple other financial factors that have helped spur this growth in the financial sectors and just a short list of those factors include:
  • - Venture capital investment
  • - Strong investment banking
  • - Facilitating strong direct foreign investment
  • - Serious corporate & retail banking options
  • - Mortgage brokerage
  • - General wealth management and more!

Home To Many Financial Companies

Vancouver is home to many major banks and financial companies, and that has helped this city move up the international rankings. A reputation as a major trading city on the Pacific and boosted by a Canadian economy known for being not only strong but also relatively stable even during rough times. While some of the riskier banks might decry Canada's level of regulation, there's also a reason why the Canadian banking system remained strong while banks in other nations folded and struggled. In a modern international economy where one domino falling can cause a ripple of reactions across the world, Canada's extremely strong and stable banking system is seen as a heavy positive overall. In fact, Vancouver is home to operations for all of "The Big Five" Canadian banks, as well as several other medium to large banks, Canada's largest credit union, and multiple international banks that help to encourage foreign investment, as well. Having so many financial companies, banks, and other related businesses in one area is part of what makes the city so business friendly and a fertile area for international investment. While they might not necessarily be the top city in Canada by pure financial measurement, they are definitely in the same conversation as cities like Toronto and being in the top 20 in the world is still an impressive measurement of where they are at.

Intertwined With Downtown Businesses

Professional sports teams, high-end retail and services, restaurants, hotels, and more all make up a thriving downtown area and help keep the city economically booming as a whole, something that is critical for any place wanting to be seen as a beacon for finances and investment in today's ultra-competitive markets. A strong transportation system also makes things run smoothly and more efficiently for the tens of thousands of workers who need a reliable way to and from the downtown for work every day. Buses, cabs, and trains allow for a variety of options while helping to ease the massive congestion that otherwise could be a serious problem and this is in addition to the fact that even the downtown area is walker friendly. The ability to house such a large number of thriving businesses across multiple industries in one area shows a dedication to continued economic growth and fostering the type of business-friendly environment that helps further build on itself going into the future. It's also atracts the top digital marketing companies in Vancouver and North America with their offices in downtown.

Business Friendly

While certain types of businesses and industries do require a big of regulation and getting approved for a local business license before being allowed to open, these are often extremely easy to apply for, and applications are accepted by snail mail, email, or in person depending on what your specific preference is for applying. For more info and help contact SmallBusinessBC. As a general rule of thumb the business owner is the only one in any given commercial enterprise that will need to get a license, and a license will be required for any business that is based in a commercial or industrial building (and zone) of the city and is considered industrial or commercial in nature, any home-based business that is located in a residential area in the city, and any out of town business (currently defined as when business is being carried out in the city of Vancouver, but the main offices are located outside of the city). These licenses tend to be easy to acquire and relatively inexpensive as the city has worked hard to be seen as a business, finance, and investment friendly area.

Amazing For Modern Movie Making

Vancouver has recently been rated as the best city in all of North America when it comes to both living and working as a filmmaker. There are very generous tax benefits to shooting in the area, and the wide variety of environments and microclimates in a relatively small geographical area (comparatively speaking) means that there are a wide array of visual options for filmmakers to choose from when shooting whether they're in need of a rural or urban setting based on the current scene. Major tax credits as well as a strongly built support industry has made sure Vancouver is only behind New York City and Los Angeles in terms of sheer production power and many individuals prefer the urban life of Vancouver as it offers plenty with far fewer of the potential expenses and headaches that those two large American cities are known for. This brings in serious investment from both independent films as well as Hollywood and further boosts the local business and investment economy by bringing in distinctly outside money and income. Based on the meticulous way Vancouver has worked over two decades to create this cinema friendly environment, that's not likely to change anytime soon and remains yet another benefit of the business and financial state of this western Canadian city.

Vancouver, In Conclusion

There are so many reasons that so many different groups of people fall in love with the city of Vancouver and the surrounding area, and having a strong business and financial environment is only going to continue to benefit the city. There are many ways that careful planning and solid business strategy have helped to build a healthy and stable economy and the fact that it is so varied and diversified based on a wide variety of businesses, industries, and financial investment bodies helps give a stability that investors love. There's a lot to love about the growing strength of the financial and business markets in Vancouver and as long as there continues to be a concerted effort to make the city investment friendly it will continue to grow in international importance as a financial and investment center.
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