Canada is currently facing a gap in the labour market, leaving opportunity not only for those wanting to live and work in Canada as employees but as business owners too. Surprisingly, the businesses that are creating the most employment opportunities in Canada are in fact immigrant-owned, and with Refugees and Citizenship Canada aiming to bring over 1.3 million immigrants by 2021, the opportunities for newcomers to substantially contribute to the Canadian economy are endless.
Statistics Canada recently revealed that 25% of the jobs created between 2003 and 2013 were created by businesses owned by foreign nationals, which is astonishing considering that these businesses only made up 17% of the companies involved in the study. In total, immigrant businesses were responsible for creating 400,000 new jobs during this period. The report also stated that immigrant-owned businesses are 1.3 times more likely to demonstrate annual employment growth of over 20% than companies owned by native Canadians, attesting to their success and valuable contribution to the Canadian economy.
An example of two Canadian immigrant business owners who are doing exceptionally well are Naib Faris and Francesco Stara, who recently launched the honesty shop concept, Mabata, at Halifax Stanfield International Airport on July 10, 2019. The kiosk is unattended and customers are entrusted to make their purchases using a self-service checkout. It has subsequently been nominated for multiple awards, including best new restaurant, the best restaurant in Bedford, best use of local products and best chef.
How to Start a Business in Canada
There are 2 main avenues to take when starting a business in Canada, namely the Provincial Nominee Program and the Start-Up Visa Program.
The Provincial Nominee Program
The Provincial Nominee Program has several options to choose from. Faris and Stara met at a restaurant in Dubai before immigrating via the Nova Scotia Nominee Program, one of 11 Provincial Nominee Programs available to immigrants who aspire to live and work in Canada.
Provincial Nominee Program Business Immigration Streams Alberta British Columbia Saskatchewan Manitoba Ontario Nova Scotia Prince Edward Island New Brunswick Newfoundland & Labrador Northwest Territories Yukon
Start-Up Visa Program
The Start-Up Visa Program allows foreign immigrants to start a business anywhere in Canada whereas with the PNP you will be restricted your chosen province. Business owners will have to prove that their business plan is aimed at tackling some of the challenges faced in the area in which their businesses will be located, as well as being required to be actively involved in the functioning of their business.
If you are determined to make the move to Canada and dedicated to starting your own successful business, then look no further. Time is money, and let’s face it, your time could be better spent than fussing over visa applications and going back and forth between the Canadian government and immigration department. Why risk having your application rejected due to a technicality. Our 3 Regulated Canadian Immigration Consultants (RCICs) are all savvy experts in the field of Canadian immigration policy and will assist you through an eligibility assessment to determine which program is best suited for you and your business. A personalized immigration strategy will then be created for you, to ensure that all administration is taken care of (collecting and submitting of documents). Sign up with our service today and actuate your dream of running a successful business in Canada.