Beaumont

Review the Business Climate

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 Beaumont and help you answer the following fundamental questions.

What is the business climate in Beaumont?

We have compiled the most important aspects of Beaumont’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.

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 Beaumont and assistance available to Beaumont businesses.

As of July 1, 2019, the general Alberta corporate income tax rate is 11%. The Alberta small business income tax rate is 2% for eligible small businesses with income up to $500,000. This is the second lowest rate across the nation and is the same as in the Province of Saskatchewan.

The combined federal/provincial corporate income tax rate in Alberta is 26% for general businesses and 13% for small businesses. A competitive corporate income tax rate is in place for manufacturers. Businesses also benefit from the fact that Alberta has no inventory tax, no machinery and equipment tax, and no payroll tax which are common in many other provinces and U.S. states. Learn more.

The Alberta government also offers additional tax credits to encourage capital investment into a wide variety of sectors.

Alberta Investor Tax Credit (AITC)

Capital Investment Tax Credit (CITC)

Growth and Diversification Act

Interactive Digital Media Tax Credit (IDMTC)

Alberta is known for its low tax rates and Beaumont is no exception. Beaumont businesses benefit from the savings realized from no provincial sales tax, no capital or payroll taxes and no machinery and equipment taxes.

No Business Tax

Beaumont does not charge a business tax. When compared with municipalities who do charge such a tax, this can save a business thousands of dollars a year.

Property Tax & Assessment

Beaumont offers a competitive tax environment, when compared to the taxes in Edmonton. Beaumont will be launching cost effective future development in the municipality. View Beaumont’s current non-residential property tax rate here.

Mill Rates

Beaumont

2017/2018 Non-Residential Mill Rate Comparison

2018 Rank City Municipal
1 Stony Plain 5.7780
2 Leduc County 6.8700
3 Morinville 6.9724
4 Chestermere 7.7579
5 Devon 8.4150
6 Spruce Grve 8.4727
7 Strathcona County 8.5192
8 City of Leduc 8.5680
9 Beaumont 8.8044
10 Fort Saskatchewan 9.0380
11 St. Albert 10.7382
12 Edmonton 17.4354

If you want to compare the mill rates between other Alberta communities click here

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.

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Contact us

Rob Mackin
Director, Economic Development & Communications
780-929-1364
rob.mackin@beaumont.ab.ca

Beaumont Economic Development

Marlenie Arana
Business Development Specialist
780-929-1365
marlenie.arana@beaumont.ab.ca

Beaumont Economic Development

Stefanie Fischer
Economic Development Assistant
780-929-3322
stefanie.fischer@beaumont.ab.ca

Beaumont Economic Development