New Brunswick Online Backup
New Brunswick is a very unique province because of its geography and politics. It is the only province in Canada that has two primary languages, English and French. It is located along the eastern peninsula and acts as one of the main provinces for shipping on the Atlantic Ocean. Given its location, New Brunswick has one of the longer, more enriched histories in the country. This has meant that the province has had longer to develop.
New Brunswick fairs well in studies of the cost of business, particularly against cities within the United States. New Brunswick has a substantially lower cost for both labor and benefits, largely because the cost of living is considerably cheaper than many other cities. This ties into the cost for doing business in the province. Purchasing or leasing in New Brunswick is much cheaper than even Canadian cities. The province also seeks to attract business by offering one of the lowest tax rates of any city in North America. With so many financial factors in its favor, New Brunswick offers a more financially sound and predictable way of tracking and planning for new businesses. It is also an ideal market for businesses looking for a more stable location to expand.
While not as prominent as many of the nation’s largest cities and provinces, New Brunswick has many thriving and established industries. New Brunswick’s largest city, Saint John, and its capital, Fredericton, have very healthy markets for more traditional sectors, such as medical professions, education, and finances. Insurance is also a very stable and growing sector within the cities. As the province’s main port, Saint John is an ideal location for businesses looking to develop in a less expensive but well-connected area. Transportation into and out of Saint John is reliable. Fredericton is a city that thrives on government industries like defense and education. It offers many governmental benefits, such as a stable and predictable environment, the perfect place for traditional service sectors to grow and prosper.
Outside of the cities there is a comfortable agrarian economy that has helped to sustain the province through its long history. Many of the traditional sectors help to keep New Brunswick a strong province, from farming and fishing to logging and mining. New Brunswick still holds onto some of the more stable although less profitable industries. While not as glamorous as Toronto, Vancouver, or Montreal where high technology plays a vital part of the cities, New Brunswick is a less risky or expensive area to establish a business, and few professions are as reliable as the ones that have traditionally helped the market grow.
With its long history, New Brunswick is an interesting mixture of old and new, urban and rural, tradition and advances. Because the province is not as firmly defined as the larger, more populated provinces, New Brunswick is still open for new development and has more undefined potential.
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