Why Canada is the Best Place for Your Business
Few countries are friendlier to small businesses and start-ups than Canada, and, feeling that support, entrepreneurs have an enormous impact on Canada’s economy. Over 100,000 new small businesses are created every year, and companies with fewer than 50 employees collectively make up over a quarter of the nation’s GDP.
Immigrant entrepreneurs are a huge reason why Canadian small businesses are so successful. According to Statistics Canada, by the late 2000s, approximately 19 percent of immigrant workers were self-employed, compared with 15 percent of people born in Canada. This means that nearly one in five newcomers has started a business within the last decade.
While entrepreneurialism is often seen as territory for the young and ambitious, newcomers of all ages are successfully launching businesses in Canada. In fact, the average age for immigrant entrepreneurs admitted to Canada is 42 years old.
Canada is truly a country that readily embraces new small business owners from around the world. The federal government recognizes the important contributions foreign-born entrepreneurs make to the Canadian economy, and there is a push to make Canada an even more welcoming place for immigrants to come and start a business.
In 2013, the Government of Canada began offering 2,750 Start-Up Visas to attract immigrant entrepreneurs who focus on technology. This means that there is more opportunity than ever for immigrants to start a business here.
Canada’s proximity to the United States also means that Canadian small businesses have access to the one of the largest markets in the world. And Canada’s well-developed technological infrastructure makes it one of the best places in the world for tech and Internet-based ventures.
There is also plenty of support from the private sector to help small businesses thrive. Entrepreneurs in Canada are able to turn to supportive financial institutions to access a range of products and services. For example, Scotiabank’s Running Start for business Tool is a great way to investigate how you can start or grow a company in Canada. You can also contact a Small Business advisor to discuss the steps you need to take in order to launch a business.
With such a friendly business environment for immigrants and so many resources available, it’s an ideal time for newcomers in Canada to consider launching a small business.
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