Toronto has become one of the most popular cities to live and work in. As a continental gateway and a crossroads for the world, it is the business and financial capital of Canada.
Its remarkably diverse economy creates unlimited business opportunities. Toronto-based businesses export over $70 billion in goods and services to every corner of the globe with retail sales of $62 billion annually.
The business sector of the city has grown and expanded significantly, putting Toronto on the map for the business world. The city’s economy relies on innovation and the development of ideas to create economic wealth.
Toronto’s key industries are Finance, Health care, Professional services, ICT, Creative industries and Services sector. While the biggest employers include: Rogers Telecommunications, Shoppers Drug Mart and Canada’s Big Five banks – the Royal Bank of Canada, the Canadian Imperial Bank of Commerce, Scotiabank, TD Canada Trust and the Bank of Montreal.
The city is also home to 9 of Canada’s 10 largest law practices, 9 of the top 10 accounting firms and all 10 top human resources and benefits firms.
Establishing a business in Toronto is an efficient and inexpensive process regulated by either the federal or provincial government. When establishing your business in the city, you need to determine whether to incorporate provincially or federally, and which licences, permits and insurance you to obtain.