As the effects of the COVID-19 lockdown continue to hit people globally, Canada has continued to show its support, not only for Canadian citizens and permanent residents but small business owners too as well as encouraging business immigration to Canada.
Since Prime Minister Justin Trudeau announced his initial $82 Billion Economic Response Plan to the COVID-19 pandemic, $27 billion of which would be allocated to help ease the financial strain and stress that Canadian businesses and workers have found themselves in, the government has added further relief to aid the business sector.
In addition to the temporary 10% wage subsidy, small businesses may now also be eligible for 75% of employee wages for up to 12 weeks, from March 15 to June 6, 2020, which will help employers to rehire workers who had lost their jobs due to the Coronavirus pandemic. PM Trudeau also announced that a 50% rent relief would be available to commercial property owners from April to June if they agreed to offer a 75% discount in rent to its small business tenants as well as pledge not to evict any tenants during this 3 month period.
And to top things off, small businesses also have access to a variety of interest-free loans, from various financial institutions to the value of $40,000 with up to $10,000 of debt being wiped clean if the loan is repaid by the end of December 2022.
These are just some of the few ways that Canada is taking care of its citizens and permanent residents. Isn’t this the type of environment that you would want for your new business venture?
To find out more about business immigration to Canada and your options, simply click the link below and complete the contact form to speak to one of our consultants or keep reading to discover the top 5 business opportunities in Canada for immigrants.
Top 5 Business Opportunities in Canada for immigrants
99.8% of Canadian businesses are either small or medium-sized companies with less than 500 employees, employing more than 8.3 million people. Small businesses contribute almost 38.4% of Canada’s Gross Domestic Product (GDP), proving that it is not only the ideal but one of the most lucrative options for those who have been considering business immigration to Canada.
Canada celebrates entrepreneurship, allowing start-ups to flourish, particularly immigrant and women-owned businesses, which make up a third of Canada’s small to medium-sized businesses. According to Statistics Canada, immigrant-owned businesses tend to create more jobs in Canada, even more so than businesses owned by Canadian-born owners.
But which industries are doing particularly well in Canada? Let’s take a look at the top 5 business opportunities in Canada for immigrants.
Canada’s agricultural and agri-food sector is one of Canada’s largest and most lucrative industries, accounting for $49 billion of Canada’s GDP. What makes it such a viable option for business immigration to Canada is that there are so many options available for those wanting to immigrate to Canada due to the high demand for workers in certain occupations, making it easier to find qualified and skilled workers in occupations such as:
Popular provinces for agricultural business opportunities in Canada for immigrants include Ontario, Saskatchewan, Alberta, Manitoba, and British Columbia.
For more information on how to immigrate to Canada through its farming industry visit our blog here.
2. Accommodation and Food Services
Canada’s accommodation and food services is a booming sector, and despite the current hold imposed due to the COVID-19 lockdown, the industry is expected to bounce back once restrictions have been lifted. Once again, there are various occupations in demand in the tourism and hospitality industry, making it easy to find staff with the experience and skills in occupations such as food and beverage servers, that you will need to make your business a resounding success.
Provinces to look at when considering business immigration to Canada include British Columbia, Alberta, Saskatchewan, Manitoba, Prince Edward Island, New Brunswick, Newfoundland and Labrador, and Nova Scotia.
3. Wholesale & Retail
Although Canada’s wholesale and retail sector took a slight hit at the end of 2019, retail increased steadily month after month in 2020. Projections show that once the COVID-19 dust settles, you can expect a huge increase in wholesale and retail areas such as general merchandise, gasoline stations as well as motor vehicle and parts dealerships. There has also been a huge surge in the need for medical supplies as the Coronavirus pandemic continues to increase the demand worldwide.
Research shows that you may want to consider provinces such as Alberta, Saskatchewan, Alberta, and British Columbia when you’re weighing up your options for business immigration to Canada as they have shown considerable growth in previous years.
Construction has been a steady investment for business investors and those considering business immigration to Canada. With the increase of new development projects nationwide comes the need for more construction companies to help carry the load and meet certain provincial and territory needs in Canada. Areas that have seen substantial growth are those in the commercial rather than the residential sector.
There has been a particularly high demand in Ontario, as the province actively seeks international skilled workers to fill the labour demand in occupations such as project directors, construction managers, and general construction labourers who are interested in immigrating to Canada through its construction industry.
5. Professional, Scientific and Technical Services
Canada’s professional, scientific, and technical sectors are a steady source of revenue and a great option for those looking for lucrative business investments or business immigration options to Canada.
Provinces to consider setting up shop in include Alberta and Ontario, which has shown considerable growth over the past couple of years.
These sectors are growing at such a rate that certain provinces such as British Columbia and Ontario have dedicated immigration streams specifically for tech professionals to help fill the demand for an ever-growing market.
What Are My Options for Business Immigration to Canada
1. Start-Up Visa
The most popular avenue to take when considering your business immigration to Canada is the Start-up or Investor Visa Program. This immigration program is aimed at creating new jobs as well as bringing fresh, innovative business ideas to Canada. There are basic business requirements that need to be met in order to qualify, including having a letter of support from a designated organization, meeting language requirements, and having sufficient settlement funds. Visit our website by clicking the link above, to see if you qualify.
2. Provincial Nominee Program - Entrepreneur Streams
If the start-up visa option does not suit your individual business needs, you may want to consider specific provincial nominee streams. Almost all provinces and territories have at least one or more business or entrepreneur streams aimed at addressing the need for innovative business ventures that can not only help boost the Canadian economy but create new jobs for Canadian and international talent alike.
Ready to bring your business to Canada? Simply click the link below to start the process.
How We Can Help You Immigrate to Canada
Navigating the Canadian immigration system can be a bit tedious, with a copious amount of forms and documents to complete and strict submission dates, we wouldn’t blame you if you felt apathetic about getting started on your application. But that's what we’re here for. At Canadian Visa, we take the stress and hassle out of your business immigration application to Canada. Our accredited RCICs (Regulated Canadian Immigration Consultants) are ready to evaluate your eligibility, review all documentation, and submit all documentation on your behalf. Using an RCIC not only gives you the best possible chance of receiving an ITA but will make the entire visa application process to migrate to Canada simple and stress-free.
We handle the paperwork while you focus on your new Canadian business venture. All you have to do is complete our online form and we’ll take care of the rest. It's just that simple.
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