If you live in Calgary, you know about the vibrant entrepreneurial spirit that flows through the city. Home to one of Canada’s most research-intensive universities and headquarters of major corporations, the city has maintained a community of local businesses despite economic shifts. This has been aided by its ability to adapt to changing market conditions.
Calgary is at the forefront of digital innovation, being the first Canadian city to allow online business setups. The infrastructure supports a high concentration of small businesses, which saw less than a 1% decline even during the past few years of uncertain times. The Opportunity Calgary Investment Fund also provides $100 million to promote growth in key sectors.
While often associated with oil and gas, Calgary’s economy is diversified. Sectors like finance, real estate, agribusiness, and the creative industries are expanding, with digital transformation spending expected to hit $7.5 billion by 2024. The city is also a rising star in agribusiness, excelling in primary production, protein innovation, and food safety.
Starting a new venture in Calgary might require commercial property sales, which is where CMS Real Estate’s expertise comes in handy.
Supporting Small to Medium Enterprise Growth
Calgary’s government actively supports its SMEs, developing policies and infrastructure to aid emerging businesses. The city facilitates streamlined processes for entrepreneurs, reducing the bureaucracy involved in starting and operating a business.
Calgary by the Numbers
Despite economic fluctuations, Calgary’s outlook is optimistic. It has seen a recent 5.1% GDP growth, with a total of $323.1 billion and a significant drop in unemployment. With a population of 1.2 million, Alberta welcomed over 56,000 new residents in 2023, with just over 50% landing in Calgary. Our demographic profile is young and diverse, creating a fertile ground for new ventures.
Small Businesses on the Rise
Calgary’s small business sector has flourished, driving growth across all industries, from agriculture to energy. Almost 95% of enterprises that form the city’s economic backbone are small businesses.
Encouraging Business Opportunities
Calgary offers a promising market for startups. With a growing, young population, the demand for diverse services increases. Commercial and industrial real estate needs become more prevalent as business owners outgrow their home offices and need to expand.
Campaigns to support local businesses, reduced licensing fees, and significant investment funds further position Calgary as a prime location for launching and growing a successful business.
Commercial Property Sales from CMS Real Estate
Starting a new business in Calgary is an exciting opportunity. Finding the right commercial property can contribute to the success of your business in a significant way.
Ready to start your entrepreneurial journey in Calgary? Contact CMS Real Estate today for expert advice on finding the right commercial property for your business.
- Gerry Macdonal Sr: (403)-219-0151
- Gerry Macdonald Jr: (403) 219-0161
- Jessica Macdonald: (403) 291-0425
Blog posts from CMS Real Estate are for general information only. The content should not be considered real estate management or investment advice. If you are in need of professional commercial and industrial real estate advice, please contact our team.