Kingston

Review the Business Climate

How it's done

Business climate is the general economic environment that local businesses operate in. Reviewing and understanding local business climate provides valuable insights about the economy, costs, risks, and incentives that may impact the success of your business. This activity will guide you to better understand the business climate in Kingston and help you answer the following fundamental questions.

  1. WHAT is the business climate in Kingston?
  2. WHAT costs and assistance should I know about?
  3. HOW do I use this information?

What is the business climate in Kingston?

We have compiled the most important aspects of Kingston’s business climate as an interactive dashboard below. This dashboard provides valuable economic, resident, household, dwelling and development indicators that may influence the success of your business.

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Unemployment Rate

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Population

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Median Age

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Average Household Size

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Household Size Distribution

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Household Type

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Dwelling Type

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Dwelling Construction Period

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Home Ownership
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What costs and assistance should I know about?

Whether you have a new or existing businesses it is critical to be aware of costs, incentives and grants that impact your business. This dashboard provides you with a snapshot of the major costs of conducting a business in Kingston and assistance available to Kingston businesses.

Provincial Tax Rates

Ontario's low corporate taxes and business-friendly environment are among the reasons the province is a popular choice for foreign direct investment.

Municipal Property Assessment & Tax Levy Look-up Tool

Quickly find out the assessed value of homes and other properties, as well as their taxes, by using the new Property Assessment and Tax Levy Lookup Tool.

More specific information on taxes in the Kingston CMA is available here: Kingston CMA Taxes

Development related charges are imposed by the City of Kingston to provide a viable capital funding source for infrastructure that is required to support future development in the municipality. Detailed information regarding development related charges are available here: City of Kingston Development Related Charges

Government of Canada Explore Careers Wage Report: Job Bank

Cost of living is an important consideration in any relocation decision. Kingston's housing market has a history of being stable and affordable for the buyer with a variety of options suited to all tastes and budgets. In July 2016, Kingston ranked 6th in the Huffington Post's report on the best cities in Canada for both jobs and affordable homes.

Kingston Cost of Living

Kingston Economic Development facilitates the successful growth and expansion of local businesses. Both the provincial and federal governments offer programs and services to assist businesses with establishing and growing their operations. The professionals at the Kingston Economic Development Corporation will work with your business to determine which programs and services best meet your needs.

Provincial and federal ministries can provide market intelligence, lead generation, supply chain development, as well as offer assistance with exporting, importing, and market development. By connecting companies with proper ministerial departments, Kingston Economic Development ensures that local companies are taking advantage of the programs and services available to them.

Kingston CMA Incentives and Services

How do I use this information?

It is one thing to have data about the business climate, but quite another to have thought it through and know what it means, and what action you will take using it. Don’t worry, this section will help you use this information to make better business decisions.

Monitor the local business climate

On-going assessment of the business climate is an essential part of operating a competitive business. In any business climate, there are numerous factors outside your control that will impact your business, both positively and negatively. The health of the economy impacts all businesses, but small businesses usually feel the effect of economic changes faster than big businesses. Improvements in the economy typically provide a rapid increase in new opportunities for small businesses, while an economic downturn can have a significant and prolonged negative impact.

Unfortunately, you can’t influence the economy, but you can monitor the business climate indicators provided above and then take the necessary actions to minimise risks to your business. Staying up to date with the business climate can also help you identify new opportunities that your business can take advantage of.

Know your costs

All industries are unique and incur different types of costs when starting or operating (Know your industry). Understanding these costs is essential when it comes to setting prices, budgeting and planning for growth or downturns. We’ve provided some of the local costs associated with taxes, development and labour that often get overlooked by businesses. There may be other municipal and provincial costs that apply to your business so we encourage you to contact us to find out more.

Make the most of assistance

Getting good advice and adequate financing are two of the most challenging aspects of starting and operating a business. Here’s the good news – the find additional resources activity lists a large number of programs and organizations that can provide the help you need to start, grow and fund your business.

Where can I learn more about the business climate?

While we are providing you with a range of valuable information about the business climate, the fact is that there's much more available. In this section we provide you with links to other websites that will supplement our information and help to keep your finger on the pulse.

There may also be other municipal and provincial costs that apply to your business so we encourage you to contact us to find out more.

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