Thanks to the business savvy Canadian permanent residents and citizens, several thousands of new jobs are created every month. Naturally, this continual, exponential increase has been welcomed across the country especially in light of the fact that Immigration, Refugees and Citizenship Canada wishes to bring over 1,3 million immigrants by the year 2021. What may come as a surprise to some is that the majority of businesses creating the most jobs are actually immigrant-owned businesses. Not only are immigrants thriving in the Canadian economy but they are also seeing making life better for all Canadians through active, sustainable job creation.
Do you want to immigrate to Canada and start your own business? If so, then we are happy to say there are plenty of options available. Immigrant-owned businesses are thriving and here’s how you can join them. But first, let's investigate the exact reasons why immigrant-owned businesses are doing so well.
Why Immigrant-owned Businesses Are Succeeding
Statistics Canada recently released a report on job growth in Canada and the stats were interesting, to say the least. It was revealed that about 25% of the jobs created between the periods of 2003 and 2013 were created by businesses owned by immigrants. This figure is surprising given the fact that these businesses only make up 17% of the total firms studied. In numbers, this percentage translates to about 400, 000 new jobs!
The report also revealed that these immigrant-owned businesses are 1.3 times more likely to show annual employment growth of more than 20% than companies owned by born Canadians. The reason behind this growth is largely attributed to the fact that most of these businesses are younger than four years old. According to the report, “in any given year, young firms [...] were much more likely to increase employment than to shed employment.” This means that young firms are more likely to become high growth firms.
If you would like to start a business in Canada, you can expect the country’s government to support you all the way. In fact, they want you to bring your entrepreneurial skills to the country. They will even issue you permanent residence through one of several business immigration programs.
Do You Want to Start a Business In Canada?
There are two main routes you can take to starting a business in Canada. First, you can apply for the Start-up Visa program which is considered as the Federal business immigration program, which means you can start your business anywhere in the country. Second, there is the province-specific Provincial Nominee Program which has several business immigration options.
Start-Up Visa Program
The great thing about this program is that you can start a business anywhere in Canada. You will have to prove that your business idea is viable and one of the key considerations would be if its intended operation responds to the unique challenges of the area where it will be located. This requirement, unfortunately, limits your mobility seeing as you will have to actively take part in the essential functioning of the business.
Provincial Nominee Program
The Provincial Nominee Program has several options available to you and, as the name implies, they are tied to the specific provinces. You will have to get acquainted with the requirements for each of them to maximize your chances of success. Luckily, we make this step easy for you with our comprehensive online Canadian immigration evaluation.
|Provincial Nominee Program Business Immigration Options|
|Alberta||Alberta Self Employed Farmer Stream|
|British Columbia||British Columbia Entrepreneur Immigration|
British Columbia Regional Pilot
|Manitoba||Manitoba Entrepreneur Pathway|
Manitoba Farm Investor Pathway
|New Brunswick||New Brunswick Entrepreneurial Stream|
New Brunswick Post-graduate
|Nova Scotia||Nova Scotia Entrepreneur|
Nova Scotia International Graduate
|Northwest Territories||Northwest Territories Business Stream|
|Newfoundland and Labrador||Newfoundland and Labrador International Entrepreneur|
Newfoundland and Labrador International Graduate Entrepreneur
|Ontario||Ontario Corporate Stream|
Ontario Entrepreneur Stream
|Prince Edward Island||Prince Edward Island Work Permit Stream|
|Saskatchewan||Saskatchewan Entrepreneur Category|
Saskatchewan Farm Owner and Operator Category
Saskatchewan Farm Owner and Operators - Young Farmer Stream
|Yukon||Yukon Business Nominee Program|
Do You Want to Work in Canada?
If starting a business is not the direction you would like to take, you can always just apply for one of several working visa options. Again, you will have to meet a list of requirements in order to get your Canadian permanent residence through one of the programs. Like with the business immigration options there are Provincial Nominee Program categories for working visas but the most popular route is through the Express Entry system.
As the name implies, the Express Entry system allows you to get to Canada faster. You will have to create an online Express Entry profile and meet the requirements of one of the three Federal economic immigration programs, the Federal Skilled Worker Program, Skilled Trades Program and Canadian Experience Class.
Interested in any of these Canadian immigration programs? We make it easy! Sign up for our comprehensive online evaluation system to discover all of the immigration programs you qualify for. There are over 70 different programs to choose from so let us guide you down the right path. Start today!