There is no question that small and medium enterprises (SMEs) are Canada's engine of growth. After all, SMEs employ about 52% of all working individuals in the country. Businesses, whether they are located in urban or rural areas, play an integral part in the economic and social well-being of communities.

In this study, Canadians can gain a better understanding of the triumphs and hardships of small business ventures. It may seem obvious, but the surest signs of an entrepreneurial hot spot are the presence of a high concentration of entrepreneurs and a high business start-up rate. It is also important that business owners have high levels of optimism and success in their operations. Good public policy is also critical, so we look at the presence of supportive local government tax and regulatory policies. CFIB assembled 12 indicators. Drawing from published and custom tabulated Statistics Canada sources, the index also contains direct perspectives from CFIB's membership, which numbers more than 108,000 business owners across Canada.

The city definitions are based on Statistics Canada's Census Metropolitan Areas (CMAs) and Census Agglomerations (CAs), which cover local economic regions better than simply using municipal boundaries. Communities in Boom: Canada's top entrepreneurial cities in 2010 - Regina was ranked number four.

For the full study please click here.