Posts Tagged ‘ Canada’s New Immigrant Entrepreneurs ’

Immigrants: Starting a business in Canada

The Immigrant Entrepreneur Visa Category is intended for prospective immigrants who propose to establish a new business or who propose to purchase all or part of an existing business that has supportable prospects for expansion in any province in Canada

 The Canadian goverment  is also ramping up our support for immigrant entrepreneurs, those  who’ve long been a tremendous source of innovation in  Canada.  Immigrants are twice as likely as native-born  Canadian to start companies – although a greater proportion also struggle to keep their businesses open for longer than a year.  That’s why  the Canadian goverment has been creating  a new competition that challenges community-based organizations to come up with programs that can help immigrant businesses across the city grow to scale.  At the same time,  in many provinces the Canadian goverment is has been offering some of  its  business courses and programs  in Chinese, Korean, Spanish, and Russian – which will allow us to connect to hundreds of new businesses in our immigrant communities. Read here  about  a Business Immigrant Mentorship Program

 There are four types of entrepreneurs who contribute substantially to economic development and job creation in Canada.

The categories are not mutually exclusive as some business characteristics can be found across these typologies but they do have distinct characteristics.

  • Immigrant Neighborhood Storefront Businesses
  • Immigrant High-Tech and Health Science Entrepreneurs/Innovators.
  • Immigrant Non-Tech Growth Businesses
  • Immigrant Transnational Businesses

1. Immigrant Neighborhood Storefront Businesses:  These are low-to-moderate-income (LMI) businesses, largely retail and personal services. They start small and frequently stay small and usually locate their businesses in economically distressed areas with lower rents. .eg. http://tortillerialamexicana.ca/

This group has special challenges that include limited English; low familiarity with Canadian cultural and business practices; little or no credit history and little or no business and/or management education.

 The businesses are alternatives to wage employment and involve extremely long hours and hard work. Employees are more often than not other family members. The goal of the business owners, often called “Necessity Entrepreneurs”, is to make a life for themselves, their families and to ensure their children’s future. They usually do not expect to pass on the business to their children and frequently note that they are working extraordinarily hard so their children can get an education and not have to work as hard. However, some of these business owners are interested in expanding their businesses into multiple locations and/or allied businesses in which the children may be involved.

2. Immigrant High-Tech and Health Science Entrepreneurs/Innovators

These entrepreneurs apply their scientific education and expertise to the creation of a product or service in technology or medical drugs/treatments. The goal of the business owner is often, but not always, to develop the technology and have it acquired by a larger company clearing the way for creating new products and services.

3. Immigrant Non-Tech Growth Businesses
These are businesses in real estate, manufacturing, retail, wholesale, transportation, construction, leisure and hospitality, etc. They are the core businesses that drive the province, regional and national economies and become important employers in their community and province.

These businesses are credited with revitalizing economically depressed neighborhoods and communities. These business owners are interested in expanding their businesses into multiple locations and/or allied businesses in which the children may be involved.

4. Immigrant Transnational Businesses

These businesses are a new phenomenon of “Keeping Feet in Both Worlds”. Immigrant transnationalism refers to the regular engagement in economic, political and socio-cultural activities spanning national borders.

These transnational entrepreneurs are playing an important role in facilitating international trade, investment and “diaspora tourism”. They are a heterogeneous group coming from many countries, crossing ethnic, immigrant and minority boundaries possessing different motivations and experiences.  Now within it , there are four distinct types of immigrant transnational enterprises: Circuit firms involved in the transfer of goods and remittances across countries; Cultural enterprises that rely on their daily contacts with the home country and depend on the desire of immigrants for cultural goods in Canada such as shows, CDs and newspapers; Ethnic enterprises that are small retail firms catering to the immigrant community, which depends on a steady supply of imported goods; Return migrant enterprises that are businesses established by returnees that rely on their contacts in Canada.

Start a business in Canada ! , Your opportunity is now businesses, create jobs for their community and wealth for their families. That’s why they are often called “Opportunity Entrepreneurs”.

 Learn how we can support you and help you make your business flourish. If you are exploring entrepreneurship, our orientation workshops are the perfect place to start. Begin your entrepreneurial journey with Hineni Media and the workshops, multi-week classes, and events. We offer for women and men at every stage of the entrepreneurial cycle.

This fall, connect with the resources you need to start your business or bring your existing business to new heights, and discover why Hineni Media is the place where success grows.

Onward and upward,

Marisol Diaz

 

Marisol Diaz  is  an experienced workshop presenter, specialized information publisher, and  a SOHO specialist. She also  has been writing on Canada settlement and  immigration law since 2006. contact her @ hinenisyndicator@gmail.com. You can improve your Canada job search through the   Canadian database  for Int’l  Professional or Hineni CED ,  a Paid Content   or Informational Services site run by Hineni Media.

Canada: Immigrant-founded businesses

Immigrant entrepreneurs and experts contribute significantly to position creation and innovation.

The revenue generated by Fortune 500 companies founded by immigrants of children of immigrants is greater than the GDP (gross domestic product) of every country in the world outside the U.S., except China and Japan.” These Fortune 500 companies had combined revenues of $4.2 trillion in 2010, $1.7 trillion which from immigrant-founded companies. According to Fortune Company report.

Just as Intel Corp. ; Solectron Corp., .eBay Inc. and  Yahoo Inc.in the USA, Canada too has its own a know example is Hones Ed  the son of Jewish immigrants from Lithuania.  Ed Mirvish  became a  Toronto businessman renowned both for his landmark discount store Honest Ed’s and for his key role in revitalizing the city’s theatre scene, he died at 92.
For new Canadians who have owned a successful business in another country, it’s important to have someone on your team who can help you thrive in the Canadian business environment. Help this adviser understand the business environment you have come from to help you bridge your knowledge from one market to another.

First up, you must have a plan. There are many books and websites to show you how to build a business plan, but the most important part of your plan should be a detailed and careful analysis of how your business idea is going to make money

Canada is  also ramping up its  support for immigrant entrepreneurs, who’ve long been a tremendous source of innovation in Canada.  Immigrants are twice as likely as native-born canadians to start companies – although a greater proportion also struggle to keep their businesses open for longer than a year.  That’s why the goverment have created a series of latest competitions that challenges community-based organizations to come up with programs that can help immigrant businesses across the cities  grow to scale.  At the same time,  the goverment has been offering some of its  free business courses in  English, French , Chinese, Korean, Spanish,  Hindi and Russian – which will allow them to connect to hundreds of new businesses in our immigrant communities.

 

 

Marisol Diaz  is  an experienced workshop presenter, specialized information publisher, and  a SOHO specialist. She also  has been writing on Canada settlement and  immigration law since 2006. contact her @ hinenisyndicator@gmail.com. You can improve your Canada job search through the   Canadian database  for Int’l  Professional or Hineni CED ,  a Paid Content   or Informational Services site run by Hineni Media.

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