Business News

Growth of business for economic development

It is quite clear that any type of business is essential for economic development. There are ample benefits for business development. It also creates great job opportunities. People get employment and thus it raises economic growth of a country. Apart from economic development a countries development also depends on other aspects such as its political issues, social status etc.

Business growth and its various aspects:

Calgary is experiencing a record level of business closures, at the same time there are also a record number of new businesses opening, according to the city’s chamber of commerce. It can be said in this connection that business growth Calgary is very vital.

  • There’s no single reason for why so many new businesses are emerging in the city. Calgary likes to highlight and uplift its entrepreneurial values, which may be strong even in the period of recession. It may also be born out of desperation.
  • A combination of severance packages and a tough job market have people looking to take employment into their own hands. People are also saying goodbye to the oil and gas industry’s ups and downs.
  • One advantage of starting a new business in a slow economy is the lower cost of leasing real estate and the increased labour pool. Finding enough qualified workers was a problem for many businesses during the boom years and it often showed in the quality of service.
  • Irrigation is distinguishing feature of agriculture in southern Alberta and enables cultivation of specialty products such as hybrid canola seeds, sugar beets or potatoes. Further more Global leaders such as Dow Agro Sciences, Bayer Crop Science, Agrium, Old Dutch and Sofina Foods have operations here and local post-secondary institutions offer education in horticulture, food safety, livestock genetics, crop science, and veterinary sciences.
  • Distribution centres in Calgary can reach 4 million consumers in a one-day round trip by truck and 16 million within a one-day, one-direction trip. Intermodal facilities for two Class 1 railways and Canada’s fourth busiest airport provide access to consumer markets worldwide. The state is a leader in agricultural research with almost two dozen universities, colleges and specialized institutes focused on innovation and advancing science and technology around livestock, field crops, food processing and food safety.  Agri-food is the largest manufacturing category in Alberta and Calgary has a mix of multinationals, mid-size companies and niche food and beverage processing and manufacturing companies.

The growth of business is really great news. It has created a history. The well-established and well developed oil and gas industry has created great job opportunities for number of people in and around the city. In particular, several of Calgary’s manufacturing sub-sectors have found strong markets within the resource sector…

The climate of the city is exceptionally good which is also highly favourable for business growth. More and more developers are concentrating to develop and invest in this city. This is a great advantage. True to the entrepreneurial spirit of the city, Calgary manufacturers have made substantial investments in the most current technology and are more modern and efficient than many of their competitors. Thus this is a wonderful news and great attempt too.

 

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top