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:
% of employment
1. Manufacturing and Innovation
2. Public Services
3. Professional Services
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.