Why the Parkland is a Great Place to Operate a Business | Farrell Agencies

Why the Parkland is a Great Place to Operate a Business

Posted by Farrell Agencies on June 11, 2020

Although it may lack the flashiness of a big city, the parkland area offers a great environment to live and work. As a home base to many growing businesses and a diverse and talented workforce, this region and the surrounding communities offer plenty of benefits for any business owner. Check out these reasons why this neck of the woods is a great place to set up shop.

Economic Opportunities
With a trading area that serves over 150,000 people within a 150-kilometer radius, the parkland region (Yorkton and the surrounding communities) is the 3rd largest trading area in Saskatchewan. It is a vibrant and growing economic hub in east central Saskatchewan offering a diversified economic base including manufacturing, food processing, construction, agribusiness, retail trade, and health care. With its excellent level of educational, healthcare and leisure services, expanding housing sector, competitive business environment, and readily available amenities, this is one of the best places to live, work, visit, and invest.

Customer Loyalty
Parkland residents, and rural folks in general, are typically loyal customers. If your business offers consistent product quality and service, you can expect to maintain a solid customer base of local residents. Many businesses also develop long-term relationships with their clientele that evolve into partnerships and friendships over the years. And these long-term loyal customers will also serve as strong referral sources.

Lower Cost of Living
Real estate prices and the overall cost of living often reflects the size of a city. The bigger the city, the higher the cost to live and work. Yorkton and the surrounding communities offer ample affordable housing options for you and your employees and the cost of doing business (regulations, fees, taxes) is undoubtedly lower than in other larger centers.

Community Support
The parkland area is renowned for its strong community values, cohesiveness and cooperation. There is a strong sentiment to support local businesses and participate in not-for-profit organizations. Yorkton and area residents have a deep sense of pride in their community and are committed to supporting the local economy, which will strengthen the likelihood of a business’s success.

Networking Opportunities
All business owners know the invaluable benefits of networking. Social interactions, referrals, word-of-mouth promotion is a primary tool used by new and established businesses alike to find partnerships and grow their business. Interacting and connecting with business owners and community leaders is much easier in places like Yorkton and surrounding communities because there are years of history and trust between families and community members.

Less Competition
Although bigger centers offer a greater number of potential customers, they usually have a larger number of competitors. It is a lot harder to differentiate a business in a sea of similar businesses that are providing the same products or services. The parkland area offers a healthy level of business competition, but plenty of opportunities to create a unique brand proposition and a loyal customer base.

Leadership Opportunities
Being a business owner and operator in a small center often allows for the opportunity to take on a leadership role in community matters. It is easier to become involved in organizations such as the Yorkton Chamber of Commerce, the Economic Development Committee or the Yorkton Business Improvement District which aim to drive economic development and address community challenges. You will have an opportunity to make a positive difference in the direction of the community.

Naysayers may suggest that in order to be successful, businesses should start or relocate to bigger centers. However, there are countless examples in Yorkton and surrounding communities of successful and prosperous businesses that have stood the test of time. Farrell Agencies is one such business. Farrell Agencies is a general insurance office that has been operating in the parkland area since 1974 when the assets of a small rural brokerage were purchased and relocated to Yorkton. In addition to the Yorkton office, it has branch offices in Bredenbury, Churchbridge, Foam Lake, Langenburg, Theodore and Stoughton, Saskatchewan, and conducts business throughout the prairie provinces.

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