How it's done
Business planning is about finding future opportunities in the marketplace. This page provides you with information that can help you identify those opportunities and make smarter business decisions. We show you: where new development is occurring or planned to occur; how fast the municipality is growing and where opportunities may exist for your business.
- WHAT can create opportunities for businesses?
- WHERE are opportunities arising?
- HOW do I use this information?
What can create opportunities for businesses?
New business opportunities are constantly arising as a consequence of change occurring around us. Businesses that keep their eye on what is occurring in their community are more likely to find new opportunities and potentially benefit from them. Three local drivers of change and opportunity are population growth, development activity, and infrastructure projects.
Population growth generates additional demand for goods and services.
New development means more people living and working in the local area.
New roads, transit, school, hospitals and other major infrastructure projects create significant opportunities for business.
Where are opportunities arising?
This map provides an easy way to see where opportunity-generating activity is occurring. Use the map to find areas in the municipality with population growth, new or planned development and other opportunities.
How do I use this information?
The information provided above is a great starting point to finding new opportunities for your business. However, it’s just a starting point. This section explains how to start you search for future opportunities and then dig deeper to assess how your business might benefit from it.
Population growth can generate significant business opportunities. It creates additional demand for consumer goods, housing, construction, education, medical services, transportation, energy products and a range of household and professional services. More people living in an area also means more workers for existing and new businesses. As such, knowing where the population is growing is valuable information. The easiest way to do this is to use the mapping tool above to identify development activity in the local area.
Understanding where new development is occurring, or planned to occur, can provide powerful insights into population growth. New residential and commercial development means more people living and working in the local area, which in turns generates additional demand for a range of goods and services.
Major infrastructure projects (e.g. roads, transit, school and hospitals) also create new opportunities. New schools, hospitals, recreational and cultural facilities attract people to them and certain types of businesses can benefit from locating near these facilities. New roads and transit options can improve access to parts of the city which then grow, attract residents and workers and open up new markets for businesses.
The nature of opportunities arising will depend on the type of new development (i.e. residential vs commercial vs industrial), the scale of the development and the timing of the development (i.e. is it already underway or planned in 20 years). Use the mapping tool above to find where development is occurring, its scale and timing. This in turn will give you a good idea of where the population is expected to grow.