Greenview

Review the Business Climate

How it's done

The business climate is the general economic environment that local businesses operate in. Reviewing and understanding the 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 Greenview and help you answer the following fundamental questions.

What is the business climate in Greenview?

We have compiled the most important aspects of Greenview’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.

What costs and assistance should I know about?

Whether you have a new or existing business 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 business in Greenview and assistance available to Greenview businesses.

Greenview has one of the lowest commercial and industrial tax rates in Alberta, providing a definite competitive edge in the province. Click here to learn more about Greenview taxation process.

Bylaw 17-780 2017 Tax Bylaw

Compared to other provinces, businesses in Alberta enjoy a distinct advantage when it comes to corporate income taxes. With no provincial sales tax, no payroll tax, no health care premiums, lower personal income tax rates and the lowest fuel tax among provinces, Alberta continues to be a great destination to do business. Thanks to its infrastructure, strong urban growth centers, increasingly diverse economy, growing population and lucrative investment opportunities, it is clear why Alberta consistently has the highest growth amongst the provinces and territories. 

As of July 1, 2019, the general Alberta corporate income tax rate is 11%. The Alberta small business income tax rate is 2% for eligible small businesses with income up to $500,000. This is the second lowest rate across the nation and is the same as in the Province of Saskatchewan.

The Alberta government also offers additional tax credits to encourage capital investment into a wide variety of sectors.

Alberta Investor Tax Credit (AITC)

Capital Investment Tax Credit (CITC)

Growth and Diversification Act

Interactive Digital Media Tax Credit (IDMTC)

How do I use this information?

Having access to business climate statistics and information is one thing, but it's quite another to use data effectively and in a way that will benefit your business. This next section will help you do just that. Learn how to 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 minimize 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. 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.

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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Contact us

Kevin Keller, CPA
Manager, Economic Development and Tourism
780-524-7623
invest@mdgreenview.ab.ca

Tara Zeller, BComm
Economic Development Officer - Grande Cache
780-524-6092
Tara.Zeller@mdgreenview.ab.ca

MD of Greenview #16