Canada's Most Lucrative Markets for Business

Booming populations and healthy incomes make for profitable consumer bases. The municipalities with the best market indicators in our first annual directory of Canada's Best Places for Business

Written by Murad Hemmadi

Consumers can be a fickle bunch. Serving their changing wants and needs takes foresight, creativity and a keen understanding of current trends and tastes. It also requires that you be where they are.

The country’s biggest cities aren’t necessarily its most lucrative. Consumer-facing businesses (and the enterprise outfits that service them) would be well-advised to locate in municipalities with fast-growing, high-income populations. For the first annual study of Canada’s Best Places for Business,we surveyed 50 of the country’s largest municipalities to find the ones with burgeoning markets, the lowest costs and the most amenable tax and regulatory regimes.

Want to know where to set up your next retail location or base the new outlet of your consumer service business? Look no further than our rankings, and the soon-to-be-release exhaustive directory of municipalities. Here are the Canada’s Top 10 Most Lucrative Markets for 2015:

1. Milton, Ontario

2. Strathcona County, Alberta

3. Calgary, Alberta

4. Toronto, Ontario

5. Grande Pairie, Alberta

6. Oakville, Ontario

7. Burlington, Ontario

8. Edmonton, Alberta

9. Vaughan, Ontario

10. Richmond Hill, Ontario

The Canadian Business Best Places for Business relies on a mix of self-reported data from the municipal governments and independent demographic and market data. Market indicators factored into the ranking of Canada’s Most Lucrative Markets were as follows: population (higher is better), population growth (higher is better), population within a one-hour driving distance (higher is better), median household income (higher is better), percentage of residents with apprenticeship or trade certificate (higher is better), percentage of residents with a university degree (higher is better), unemployment rate (lower is better), participation in the labour force (higher is better).Originally appeared on PROFITguide.com