Creating Jobs and Wealth for Canadians
Profit From Your Canadian Immigrant Advantage
7 reasons it makes sense for you to pursue your entrepreneurial dream — today!
I know the idea can be intimidating. I started my last company, a successful media venture, as an immigrant from the US. Although I spoke English, I found many aspects of doing business in Canada different than in my home country. It took me a while to realize that I had an edge that many immigrants share. I call it Your Immigrant Advantage.
Because I was new to this country and getting to know it for the first time, I realized I could see opportunities that Canadians might overlook. Taking business administration training, I ultimately built a business in an untapped niche of the media. I closed it after two years and am excited to follow up with this new venture, a long held dream for me.
You might wonder if now is a good time to start a business in Canada. There’s no denying that an economic downturn is going to bring challenges to any business. But entrusting your future security to an employer that could lay you off at any moment can be just as risky. Starting a business, in contrast, can bring you control of your destiny and a chance to build significant wealth.
Here are seven reasons it makes sense to start a business in Canada.
1. There’s startup money out there. Even in a tight lending climate, it is possible to find funding in Canada. Many Canada entrepreneurs get their start in business by borrowing money from friends and family or selling a small stake in a budding venture to an outside investor. Even those who don’t have a rich uncle can join the proud legions of entrepreneurs who have “bootstrapped” their companies from day one, funding any growth from the sales they make.
2. Red tape. Canada is not a far easier place to start a business than almost anywhere else. but, for instance, you can incorporate in a few days. Canada has a bit of European lifestyle, if you do’t know your way around bureaucracy can squash the entrepreneurial spirit. You need a permit for everything you do.
3. Smart Labor Code . They tend to be employer friendly, for the most part, and are not as punitive in European countries if you need to let people go. In Canada, there is much less flexibility for the business owner to react to changing market conditions.
4. Less corruption. If you have been frustrated by a business culture where paying bribes is required to get things done, you may be relieved to know that laws against bribery in Canada generally get enforced.
5. Things work. Many Canadians take it for granted that there is a robust, independent legal system; reliable and cost efficient transportation; a reliable power infrastructure; and an outstanding communications network. If you’ve lived in a country where these things are not the norm, I am certain you will appreciate how much they add to the ease of doing business.
6. An outstanding talent pool. The Canadian university system offers a world-class education – and has the workforce to match.
7. There’s no shame in upward mobility. This is an entrepreneurial culture that rewards innovation – and newcomers can join it quickly if they speak the language. Why not start pursuing your Canadian dream today? I’d like to help you, by providing training and useful tips and inspiration from other entrepreneurial immigrants.