Canada can often be a country of choice for business owners who want to expand their foreign markets. Its geographic location makes it much easier to do business.
Added to this are other factors such as the availability of a skilled workforce and a large number of natural resources such as gas, oil, timber, and favorable trade agreements.
In recent years, several large multinational companies have opened new offices in Canada. If you are considering doing the same, your decision should be well thought out and well informed.
Here are some of the benefits of immigrating to Canada for entrepreneurs to consider.
Canada’s reputation as a peacemaking country filled with polite people is not without merit. Although our major political parties have some ideological differences, there is often a peaceful transfer of power and an orderly transition. There is probably very little need to worry about radical changes from one five-year term to the next.
The economy is stable, and a conservative approach is used. During the 2008 recession, Canada didn’t have the financial collapses of companies and bankruptcies of people that the rest of the world did.
Of particular note is Canada’s leadership in moving toward a low-carbon economy, including a recently announced nationwide carbon tax.
For many industries, this is an opportunity to showcase their technology, and for high-carbon industries, there has been a steady increase in tax time to adjust operations.
Canada recognizes that immigration is the key to building a healthy workforce with a low birth rate and aging population.
Approximately one in five Canadians were born abroad (the highest rate in the G8). There are several immigration routes.
It includes both the federal Start-up Visa program for VC, Angel, incubator-supported business ventures, and various provincial programs called business migrant or immigrant entrepreneurs.
Canadian schools teach English and French to children and are on the road to reconciliation with our indigenous population.
When xenophobia is on the rise in many countries, Canada is investing in diversity and inclusion as a real net benefit to our citizens and country.
The most popular route for entrepreneurs to immigrate to Canada is the start-up visa program.The Canada Start-Up Visa program allows entrepreneurs to immigrate to Canada to start their new business.
To immigrate through the Start-Up Visa Program, candidates must demonstrate that their business is innovative and will create new jobs for Canadians and compete globally.
Successful applicants connect with private sector organizations in Canada to obtain funding, guidance, and experience in starting and operating their Canada businesses.
With the Start-Up Visa, Canada targets entrepreneurs who have the potential to create innovative companies that can compete globally and create jobs.
To use this program, entrepreneurs should:
- Have qualifying business
- Have a letter of support from an organization
- Demonstrate language proficiency
- Have proof of funds.
These are the main requirements to meet. However, the government could be tough when it comes to documents, so more details would be needed for success. Entrepreneurs should observe the Canada business visa requirements carefully before planning the move.
Canada ranks high on the “Starting a Business” list – there is little paperwork, and it can all be submitted electronically. Through the Canada Business Network, there are several grants, loans, and programs to support your business.
While few provinces offer “relocation” type tax credits, the general tax rate combined with government support for health care, education, and infrastructure make it a good economical solution for your business and employees.
About 13% of Canadians are entrepreneurs, and for first-generation Canadians, the figure is twice as high as for their Canadian-born counterparts. It is only second to the United States, which is generally regarded as the most entrepreneurial country globally.
Not only do Canadians have a personal desire to start a business, but they also tend to join new companies and businesses, which makes it easier to recruit and retain employees.
Almost half of Canada’s workforce works for small businesses. In Canada, school curricula are provincially based, so there is some variation, but topics such as teamwork, creativity, and individual effort, which equate to rewards, are stable.
Entrepreneurship is a common theme at the post-secondary level, including at many universities, where it is taught as a separate course or major.
Education is free and well-funded by the government. Canada has consistently ranked first in a wide range of education-related indicators, including the percentage of the workforce with high school education, qualifications recognized by the World Economic Forum’s Human Capital Index, and the educational attainment of Canadian schoolchildren.
Canada is home to talent worldwide, making it a great place to do business. People worldwide move to Canada; tens of thousands choose this country as their new home every year.
Canada’s deep, diverse, and globally connected talent pool of skilled, highly educated, and culturally-savvy people drives its economic prosperity and innovation.