Life is good, and altogether affordable, in Montreal. Simply compare rent prices across Canada and you can see just how easy on the wallet Montreal can be. But the city's affordability goes beyond living costs, as Montreal is also one of the most cost effective places to run a business, according to a recent study.
In their annual Competitive Alternatives 2016 report, international accounting company KPMG ranked over 100 cities from 10 different countries based on their basic business costs. Utility rates, labour costs, and the price to rent a workspace and other like factors were used to calculate a city's score.
When the cost competitive calculation-dust settled, Montreal ranked third most affordable on the (sorta) global ranking with an index-score of 85.2. More than a little ahead of Montreal on the list are Mexico City and Monterrey, with a score of 78.6 and 76.5, respectively.
Keep in mind, however, that the major cities ranking wasn't quite global, as only 10 different countries were represented. Also the report doesn't really address some of the major issues that come with being a business owner in Montreal, but lets conveniently forget that part to focus on the good stuff.
While Montreal was found to be one of the world's most cost competitive cities, Canada as a nation didn't do so badly either. Toronto and Vancouver were just behind Montreal in the global cities ranking, and in the national index, Canada was found to be the second most cost competitive country in the world, with Mexico taking the number one spot.
Thanks to the strong U.S. dollar, and the (currently) weak loonie, the money needed to run a business in Canada remained fairly low. Compared to the United States, running a business is 14.6% cheaper in Canada, a definite boon to anyone looking to launch a new enterprise in North America.
To see a larger breakdown of the Competitive Alternatives 2016 report, head here.