9 Jun 2011

Toronto board says more needs to be done to lure businesses to...

A new report finds that Toronto officials are not employing effective techniques in luring more businesses to come to the Greater Toronto Area.In a 32-page report issued by the Toronto Board of Trade, called 'Shifting into High Gear,' members of the board list several things government officials and business owners can do to further enhance the city's appeal to entrepreneurs."As the Toronto region's economy goes, so goes Ontario's," said Carol Wilding, president and CEO of the TBT. "Our city-region lacks a coordinated economic strategy. To compete with the global regions of the world we need to be economically synchronized."While the report found Toronto's business-friendliness could be improved upon, it's already one of the leading cities for business generation. The TBT says 20 percent of Canada's GDP comes from Toronto workers. A Profit magazine analysis recently found that some of Canada's fastest growing businesses are in Toronto, which may explain why so many business storage units are sought after.

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8 Jun 2011

Residents moving or relocating to some of the waterfront communities in Toronto will soon have access to one of the most advanced internet technology systems in the world.According to Waterfront Toronto, a community development organization created by the governments of Canada and the city of Toronto in 2001, it has enlisted the services of the technology giant Beanfield Metroconnect to give locals even faster access and utilization of the world wide web.John Campbell, president and CEO of Waterfront Toronto, said internet access has become a crucial part of GTA residents' home and work life."Broadband has become essential public infrastructure for 21st century communities, and the need for faster connections delivered over more robust networks has been intensifying since the dawn…

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3 Jun 2011

After a recent report from Statistics Canada showed that the country's economy is growing – its gross domestic product increased 4 percent last quarter – a new study is showing that Canadian businesses have also been expanding. Furthermore, many of them are based in Toronto. According to Profit Magazine's 23rd annual Profit 200, which ranks Canada's fastest growing companies, three of the top five companies are Toronto-based. The most staggering rate of expansion comes from a firm called Mood Media, a messaging and signage company, as sales for the business have increased a whopping 72,384 percent over a five-year period. Other thriving Toronto-based establishments include the mortgage broker network Pacific Mortgage, and software development company Varicent Software. Overall, the survey…

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3 Jun 2011

Just in case Toronto didn't already have enough pizza joints, another one just recently opened.According to Boston Pizza International, the new restaurant on 250 Front Street West is the company's 109th pizza parlor in Ontario alone. However, the company says this one is different from all the others, as its the eatery's first location that has an 'urban concept.'"Boston Pizza Front & John is designed to capture the feeling and excitement of being in downtown Toronto through a celebration of our dynamic local sports scene," said Mark Pacinda, president and COO of the restaurant. "Guests will know they are at a Boston Pizza, but at the same time they'll feel like they're in a downtown, urban restaurant and bar."Among the…

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2 Jun 2011

Any suggestions that Toronto will not have a professional football team may have been a been premature, as Mayor Rob Ford continues to believe an NFL franchise coming to Toronto is a distinct possibility.Speaking to an assemblage of reporters at Toronto's 100th Grey Cup Festival, Ford tried to set the record straight."I can’t answer [when], but I'll tell you one thing, before our four-year term is up, hopefully we'll have an NFL team here," said Ford, according to the Globe and Mail. "We're pretty confident. How can the NFL keep ignoring the fourth-largest market in North America?"Some Torontonians may be skeptical of Ford's assertions, as earlier this year, Ford's brother, Etobicoke North city councilor Doug Ford, said in a radio…

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27 May 2011

Comparatively speaking, Canada has fared pretty well amidst the worldwide recession, as many small and large businesses throughout the world have struggled to keep their offices afloat. But as ExtraSpace Storage recently documented, small businesses owners have been turning to storage units as their last line of defense.For instance, in the United Kingdom, a popular self-storage operator talked about how so many of his customers have been small business owners."A lot of our customers recently have been small businesses who find self storage a very simple and effective solution following the recession," said Keith Grant, owner of UK-based self storage company in a press release. "They gain peace of mind with our top quality and secure units."ExtraSpace Storage cited several…

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19 May 2011

Toronto hoops fans were on pins and needles earlier this week when the NBA held their annual draft lottery, hoping to net the number one overall pick. It wasn't to be, however, as the Toronto Raptors will pick from the five-hole this June.The Raptors sent the general manager Bryan Colangelo to represent the organization, the first time he's been there since 2006, when Toronto selected Andrew Bargnani with the top pick.The 7'0" center turned out to be solid pick for the franchise, as over the four years Bargnani's played at the Air Canada Centre he's averaged 15 points, four rebounds and 30 minutes played.But it was the Cleveland Cavaliers' night, as the team not only earned the number one overall…

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9 May 2011

Even though square footage for office space isn't being purchased in Toronto at a prodigious rate, a new report is indicating why businesses still flock to the GTA.According to a just-released report from consultancy firm PricewaterhouseCoopers, only New York beats Toronto as the world's capital of finance.The firm based its analysis of the best cities for business opportunities on several factors that measured economic vibrancy and overall quality of life, such as intellectual capital, innovation, health, safety and security. New York edged out Toronto for first place. San Francisco, Stockholm, and Sydney rounded out the top five financial cities of the 26 considered."These findings confirm our view that Toronto's real strength lies in its quality of life which serves as…

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5 May 2011

Though office space in the Toronto area has been taken up at brisk pace this quarter, the commercial real estate market in the GTA suffered a bit of a setback in the month of April.According to the Toronto Real Estate Board, 842,406 square feet of space was leased by commercial property hunters. That's a significant amount of space no longer available for rent, but it's down 27 percent compared to the same month last year, when 1,155,944 square feet of space was leased.Despite the downturn, Larry Purchase, chairman for the TREB's commercial division, said high demand will keep the market operating in the black."As the Canadian economy continues to expand in 2011, demand for commercial real estate is expected to…

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27 Apr 2011

A new report is making it abundantly clear that if people in the Toronto area want to rent or lease office space, they better do so quickly.According to Avison Young, Canada's largest commercial real estate company, demand for local office space has increased steadily since the end of the recession in 2009, with activity being particularly robust in the downtown and midtown portions of the GTA. For instance, the downtown Toronto area posted an 8.9 percent office availability rate, a two-year low, with vacancy rates even lower at 6.6 percent.Bill Argeropoulous, vice president and director of research for Avison Young, say the downtown figures testify to the health of the commercial real estate industry."All one has to do is look…

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26 Apr 2011

Because businesses take up a lot of space, storage units are known for serving as an ideal venue for business owners to house their office belongings.But how many storage units double as an office space? Here at Jiffy, that's business as usual.With Jiffy Workspace, business owners have another place to get their work done. At any time, people can easily tailor their office space requirements on an as-needed basis, whether it's expanding because business has been booming or contracting because activity has slowed.Besides serving as an extra place to store another office's belongings, Jiffy Workspace also serves as an ideal location for business people to get more work done. All of our units are quiet and have internet access capability.…

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28 Mar 2011

The city of Toronto's motto is "Diversity Our Strength." Another one of its strengths? Finances.According to the Global Financial Centers Index – which provides profiles, ratings and rankings of the world's leading locations to conduct financial services – Toronto is listed among the world's top 10 global financial centers.For the past several years, Toronto has been known as a "global leader" in financial services, but this is the first time it's cracked the top 10."We are encouraged that Toronto has continued to gain momentum and global recognition as a leader in financial services," said Janet Ecker, president of Toronto Financial Services Alliance.Ecker would go on to say even more needs to be done to lure a greater number of entrepreneurs…

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11 Mar 2011

A world renowned chef and restaurateur may be renting out a Toronto storage unit some time soon to store his pots and pans as he plans to bring his business to the Greater Toronto area.According to the Toronto Star, David Chang is planning on bringing his Momofuku restaurant, which has thrived in Manhattan, to the Queen City by 2012."I'm not trying to bring New York to Toronto," Chang told the paper. "I want to understand Toronto better."According to the paper, many destinations around the world want him to bring his Momofuku restaurant – Japanese for "lucky peach" – to their area, but Chang says he fell in love with the Greater Toronto area after visiting last year. The Star reports…

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9 Mar 2011

While the Canada weathered the global recession better than most countries, Canadian business owners aren't ready to purchase new facilities and unpack their Toronto storage units packed with office supplies just yet.According to the American Express Small Business Monitor, a survey conducted by Angus Reid Public Opinion, just 16 percent of small business owners are willing to take a "significant" or "above average" risk this year. That's down 9 percent from the 25 percent willing to fully unleash their entrepreneurial spirit last year."Small business owners have been patiently waiting for business to pick up," said Eric Nielsen vice president of Small Business Services Canada, American Express Canada. "The reports of recovery and anticipation of a market upswing have yet to…

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25 Feb 2011

At one point or another, the Greater Toronto area's best and brightest have no doubt wondered how much time they spend looking for something that's been misplaced. A survey from Brother International may just answer that question. According to the survey, Brother International says approximately 76 working hours are lost for each person due to disorganization annually. In the U.S., that winds up costing employers more than $177 billion in work productivity. "As we have seen now more than ever, companies are trying to find unique ways of saving money and becoming more efficient," said Bill Henderson, vice president of marketing with Brother International. Though the organization didn't mention it, this may help explain why a growing number of businesses…

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16 Feb 2011

Judging by the rate at which office space is being snapped up in the Greater Toronto area, business appears to be picking up in the Toronto local commercial real estate market.According to Avison Young's office…

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