Fast Company reports that according to a University of Washington study, Canada occupies second place in terms of opportunities for start-ups.
The ranking assesses countries according to five criteria: financing sources, workforce education, cost of living, the country’s economic health and corporation tax rates. Hong Kong takes first place with a corporate tax rate of only 16.5%, an educated workforce (51.8% are secondary school graduates, and 27.7% are post-secondary graduates), and low consumer prices.
Canada's strengths: education and a close to break-even inflation rate
Canada is characterized by its low cost of living and its educated population (88% are secondary school graduates and 24.2% are post-secondary graduates). In addition, its particularly low inflation rate (1.2%) seems to indicate that it is unlikely that prices will rise in the near future. It was also reported that sources of funding mainly come from the Development Bank of Canada, the Community Futures Network of Canada and the Funding Portal.
The three other countries placing in the top 5 globally are the United States, distinguished by its low cost of living, its skilled workforce and its 1.5% rate of inflation; Singapore for its 17% corporate tax rate and its low inflation rate (1.5%); and Australia for its education level and inexpensive real estate.