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 Peterborough & the Kawarthas and help you answer the following fundamental questions.
What is the business climate in Peterborough & the Kawarthas?
We have compiled the most important aspects of Peterborough & the Kawarthas’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.
Resident Indicator Population Growth Chart
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 Peterborough & the Kawarthas and assistance available to Peterborough & the Kawarthas businesses.
With a wide array of government incentive programs and services offered in Ontario, locating your business here in Peterborough & the Kawarthas allows you to take advantage of competitive corporate tax rates and helps your business save on costs associated with research, development and innovation; labour costs; and start-up and expansion activities.
The general corporate income tax rate in the Province of Ontario is 11.5 percent. The Ontario small business deduction (SDB) allows Canadian-controlled private corporations (CCPCs) to reduce the income tax rate on their first $500,000 of active business income to 4.5 percent. Learn more.
Peterborough & the Kawarthas Commercial Property Tax
Business taxes vary throughout our region dependent upon the municipality you pay your property tax to. These taxes are calculated and billed annually by multiplying the tax rate by the assessed value of your property. Please select the appropriate City or Township below to view your applicable tax rates:
Development related charges that are imposed within Peterborough & the Kawarthas provide a viable capital funding source for infrastructure that is required to support the future development of the City, County, 8 Townships, and 2 First nations. Due to the variety of municipalities within Peterborough & the Kawarthas, there are different development charges across the region.
See below for your applicable development charges:
The following townships currently have no development charges:
- Township of Havelock-Belmont-Methuen
- Township of North Kawartha
These are only guidelines. Please contact PKED for a customized review of your project and allow our Business Development Leads to work on growing your business in Peterborough & the Kawarthas.
Peterborough & the Kawarthas is home to an eager and dedicated labour force of highly qualified professionals, as well as three outstanding post secondary institutions. Similar to the national average, the majority of our labour force is well-educated with some form of post secondary education, with a particular emphasis on practical learning – one of Ontario’s highest proportions of those with either a college diploma or trades certification.
The following link provides more information on Ontario’s minimum wages. Learn more
The following link provides more information on average weekly earnings by industry in Ontario. Learn more
Explore careers and wage reports in the Muskoka-Kawarthas region. Learn more
Peterborough & the Kawarthas Economic Development facilitates the successful growth and expansion of local businesses. Both the provincial federal governments offer programs and services to assist businesses with establishing and growing their operations. The professionals at Peterborough & the Kawarthas Economic Development will work with your business to determine which programs and services best meet your needs.
Provincial and federal ministries can provide market intelligence, lead generation, supply chain development, as well as offer assistance with exporting, importing, and market development.
Locally, support is available through initiatives such as Community Futures and Community Improvement Plans. By connecting with PKED professionals, we can ensure that local companies are taking advantage of the programs and services available to them.
Significant incentive opportunities include:
- Community Futures – Community Economic Development Projects
- Community Futures – Eastern Ontario Development Program
- Eastern Ontario Development Fund
- Canada-Ontario Job Grant
- Starter Company Plus
Please contact PKED for a customized review of your project and allow our Business Development Leads to work on growing your business in Peterborough & the Kawarthas.
Download a detailed list of incentives for Peterborough & the Kawarthas
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.
Ontario Chamber of Commerce
Ontario Ministry of Finance