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    Starting Your Own Business


    Looking to start your own business? Well you’ve come to the right place! Below is some great information about creating your own business. Check out our Resources page for links to other helpful websites.

     

    Penticton at a Glance


    Greater Penticton Population: 42,360

    People of working age: 62%

    Forecasted Per annum growth: 1-2%

    Geographical size: 4,447 hectares (approx. 17.2 square miles)

    Elevation: 344.1 metres (1,130 feet) above sea level

     

    Penticton’s economy is growing, based upon its top five employment sectors. According to the City of Penticton’s Industry Valuation Report the largest contributor to the Penticton economy is the Manufacturing and Innovation sector, holding 29% of the workforce with the highest GDP. See the table below for a complete look at all five sectors:
     

    Sector

    % of employment

    GDP

    1. Manufacturing and Innovation 

    29%

     $367,266,000 

    2. Public Services

    26%

     $347,295,000

    3. Professional Services

    5%

     $311,722,000

    4. Tourism

    14.4%

     $166,716,000

    5. Trades

    20%

       $80,139,000

    City of Penticton Industry Valuation Report


    The City of Penticton offers several incentives to those interested in opening a new business, including 50% savings on building permit fees plus a property tax exemption. The City has also developed five economic incentive zones to encourage new businesses corresponding with the neighbourhood. More detail about all incentives can be found on the City of Penticton’s Economic Development webpage.
     

    Guide to Starting A Small Business


    Take a look at the Government of British Columbia’s Ministry of Jobs, Tourism and Innovation step-by-step guide to Starting A Small Business to help you with the first few steps of starting your business.