6 Amazing Canadian Business Opportunities for Foreigners
December 20, 2021
Canada is one of the world's best places to do business, and to work in, given the fact that it is technologically advanced, it’s one of the safest places in the world and offers economic stability. They have a variety of different business opportunities, and the pay rates are out of this world. Canada encourages start-ups and they are particularly fond of assisting women-owned businesses and immigrants. With that being said, let us explore what kinds of Canadian business opportunities for foreigners are on offer.
6 Business Opportunities for Foreign Nationals in Canada
Here are six business opportunities in the Canadian job market that are in high demand and are looking for foreign nationals.
There is a gap in the market when it comes to construction workers in Canada. There are always new development projects that are evolving and Canada needs skilled workers in that profession to carry those projects. Not only is the salary good, but the more experience you have the more you’ll get paid.Construction in Canada employs over 1.4 million people and contributes about $141 billion to the economy annually. That would be 7.5 percent of Canada’s Gross Domestic Profit (GDP).
Occupations in construction that are in high demand within the Canadian job market currently are:
- Drywall slander
- Asphalt spreader
- Concrete mixer
The hospitality sector in Canada took a hit when the COVID19 pandemic started, but bounced back quickly after restrictions had been lifted. The hospitality sector in Canada will always be booming because locals and tourists love exploring new places such as hotels and restaurants, so there will always be a demand for skilled workers in this profession. There are over 1.9 million sector-related jobs as tourism is a $90 billion industry. Some of the top jobs in the tourism industry include:
- Food and beverage servers
- Food and beverage server managers
- Chefs or cooks
Canada’s agri-food sector and agriculture is one of the most lucrative industries as well as one of the largest. It is one of the industries that offer some of the most of the work in Canada. By the end of 2020 Canada’s agri-food and agriculture sector had employed almost 2.1 million people. Within that time it generated about $139.3 billion (around 7.4 percent) of Canada's Gross Domestic Product (GDP).
Provinces that are notorious for their agriculture sector are: Alberta, Manitoba, British Columbia, Ontario, and Saskatchewan. There are many opportunities for those who wish to immigrate due to the high demand of workers in occupations such as:
- Truck drivers
- Farm workers
Retail and Wholesale
Provinces such as Alberta, Saskatchewan, and British Columbia are some of the main provinces to look at if you’re considering Retail and Wholesale. Especially because we are currently living in the Coronavirus pandemic, necessities such as medical supplies are in high demand to be made, packed and sold, meaning that wholesalers need to employ many people to keep up. Retail contributes about $102.82 billion to Canada’s GDP annually, and wholesale contributes about $106.88 billion.
The most sought after occupations in the retail or wholesale industries are:
- Visual Merchandiser
- Cleaning & Maintenance
- Retail Warehouse Worker
- Human Resources
People love learning. Whether that is a conscious choice or not, it is human nature to want to learn and acquire new skills to better ourselves. Therefore, educators will always be needed, especially in Canada as they rank at fourth in the world for education, which is free in this country. Canada contributes about 5.9 percent of its GDP towards education, which is equal to $11,854 per student. Key occupations in this field are:
- Curriculum Developer
- Education Administrator
Certified Public Accountants (CPAs) are highly in demand currently, and they can actually work on their own as a sole proprietorship which would work for those who want to apply for a Start-up Visa. Finance contributes to $148.82 billion towards Canada's GDP. Occupations in this field include:
- Financial Analysis
- Financial Services
- Investment Planning
- Financial Reporting
Business Immigration Options
After you’ve looked for Canadian business opportunities, you will need to find a way to get there. These three business immigration programs will help you decide which program you will need depending on the type of occupation you wish to pursue, and to work in Canada.
The Self-Employed Program
In order to qualify for business immigration to Canada under the Self-employed Program, the candidate is required to prove that they have artistic or athletic experience that was relevant enough to enable them to be self employed within their own country. It is important that the candidate should be able to contribute in a significant way to one of these two fields with their skill set for them to be successful in their application.
Below is the list of occupations in these two fields:
Business Visitor Visa
Individuals who are looking for a less permanent stay would most likely use this option. This option will allow individuals to engage in business activities without directly entering the Canadian labour market. Being a Canadian Business Visitor comes with many benefits such as being able to travel anywhere within Canada, sightseeing and even visiting friends and family. If you want to apply for a Canadian Business Visitor you will need to show:
- Supporting documents for your application;
- You have enough funds to stay in Canada and return home;
- You will leave Canada once your visa expires;
- You will stay for less than six months;
- You aren’t planning on entering the Canadian labour market;
- Your main source of income and business is outside of Canada;
- You meet the entry requirements with the necessary documents; and
- You are in no way a risk (criminal, security or health).
The Start-Up Visa option will be the most viable one as it will enable you to immigrate to Canada simply by starting a business anywhere within the country. Your business should contribute to the economy by creating jobs, compete internationally and be creative and innovative. There are requirements that will need to be met in order for your application to be approved:
- Settlement funds - You will need to prove that you have enough money to support yourself and your family in Canada as the Canadian government doesn’t provide financial support to this "investor" visa.
- Letter of support - You will need to have a letter of support from a designated organization that will serve as proof that they will invest in your start-up business. Some of these organisations are: Angel Investor Groups, Business Incubators, and Venture Capital Firms.
- Language requirements - In order to assess an individual's English or French proficiency, they will need to acquire a level 5 in reading, listening, speaking and writing for the Canadian Language Benchmarks Placement Test.
- Business requirements - If you receive permanent residence you need to ensure that the key operations of your business must take place in Canada, you actively play a role in the management of your business while residing in Canada, and that your business is incorporated in Canada.
1. Is Canada good for entrepreneurship?
Canada is a great place for entrepreneurship. Not only does Canada offer innovation and new technologies, but it offers a high quality of life that helps businesses boom. Canada has low costs, global market access through 14 trade agreements with 51 countries, and reduced risks.
2. Can an international student start a business in Canada?
Unfortunately, you can’t start a business while you are studying because you need to be a permanent resident in order to do so. Canada, however, does have graduate start-up programs as well as various provincial entrepreneur programs that are specifically for the territory or province you study in. Once you have qualified you are able to apply to these programs.
3. What is the most profitable business in Canada?
Some of the most profitable businesses in Canada are small businesses. The top five small business that have the most turnover in Canada are:
- Real Estate
- Professional Financial Services
- Waste Management and Remediation
- Fitness and Recreational Sports Centres
- Transportation and Storage
Now that you are clued up about the Canadian business opportunities for foreigners, let us guide you across the borders and to your dream business opportunity. MDC prides itself on assisting and informing future applicants and making lives easier. You are just a click away from making your immigration dreams come true.