Posts Tagged ‘ Entrepreneurship ’

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.

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Canada-Immigrants In Business Enterprise Sector

In Wise5,  a recent study of immigrant entrepreneurs funded by Citizenship and Immigration Canada, researchers found that immigrants who succeeded in business often followed a similar pathway.  Immigrants did not start new businesses right after arrival.  Rather, they first adjusted to living in Canada and learned about Canadian business culture.  Like Maria Luisa, many  worked in their field of interest first, learning Canadian practices and preferences first-hand, and finding a mentor who advised and helped them.  Often they pursued some upgrading, including language courses and business seminars.

“Immigrants are pulling their weight in the economy, and are just as likely — and sometimes even more likely — than Canadian-born [residents] to be business owners,” says Beverly Rodrigez, a senior fellow with the Bevor Consulting Services. “You see that immigration has grown a lot, and so has immigrant business ownership.”
People have a hard time understanding how immigrants can come into the economy without displacing native…workers,” says Barbara Ujamaa,  graduate student of an  Entreprenuership Program, which co-released a version of the report highlighting Ontario local implications. “But they create their own niche…. These small businesses that crop up fulfill a need…and become job creators.”

Beverly in her dissertation  pointed out that in Ontario, immigrant business ownership is closely linked to immigrant labor, which have both increased dramatically over the last twenty years.

Immigrant labor is a good thing, because it attracts these small entrepreneurs to come and fill a niche in our economy,” Beverly added.

Across the country,  Barbara says, the diversity of these businesses is also impressive. In addition to bigger tech companies, there are a lot of “bread and butter businesses,”  she says. “Grocery stores, nail salons, gas stations…that I think are making a pretty big difference. In many places, that’s what defines a neighborhood.”

La Mexicana Tortilleria y Antojitos.http://tortillerialamexicana.ca/   is an example of  small business ownership by a  recent female and immigrant entreprenuer.

If you are thinking of starting a business, take some time to inform yourself before making a decision.  Most Canadian cities have small business centres that can help you assess the advantages and disadvantages of different types of business, including regulations, licencing and certification.  They can also provide direction about writing a business plan, which is required for bank loans.  Some settlement organizations offer business services if not you can always count with our customized service here.

 

Entreprenuership Education Training

The Entrepreneurship  Training  is comprised of three (3) core trainings:

1. Business Plan Training (BPT): Series of four (4) workshops covering the following topics:

• Introduction to Entrepreneurship

 Identifying Business Opportunities

Types of Business (Legal Aspects of Business)

Understanding Customer Behavior

Understanding Marketing Concepts (Marketing Plan)

Selecting the Right Products/Pricing

Understanding Business Plan

Drafting a basic Business Plan

2. Financial Management Training (FMT): Series of two (2) workshops covering the following topics:

Understanding Financial Management

Developing Record Keeping Systems

Preparing and Interpreting Financial Statements

3.Loan Application Training (LAT): Series of two (2) workshops covering the following topics:

Developing a Financing Strategy

Structuring & Repaying Loans

Components of a basic Loan Application Package

Completing the Loan Application

After successfully completing the Entrepreneurship  Training,  clients will be able to receive individualized business counseling and participate in targeted workshops to learn about business issues not covered in the core trainings. Graduates of the Training  will also be eligible to apply for any Microenterprise Loans through special agencies. Contact here

 

 

Career Transition Advice for Canadian Immigrants

Helping people find their true calling

As a trained professional , you have made many personal and professional sacrifices to end up where you are today.  You worked hard in school, went into debt, accepted an offer, honed your expertise, and for many of you, even became a noted and sought after expert in your field.  There’s only one problem.  You’re not happy.  And you’re not alone.  Many trained profesionals  feel trapped in their positions but now require a higher salary, a bigger fee or non-commission-based revenue they have grown accustomed to.  For many, this scenario has been likened to golden handcuffs – tying you to a job you don’t really love, but one in which you have developed the expertise and where you are paid well for your advice.

I can reassure you that if you are committed to your own personal satisfaction and peace of mind, and have the tenacity to embark upon a new path, change is not only possible – it is doable.  Remember the Chinese symbol for fear is a combination of two other symbols:  danger and opportunity.  Use this time in your life as an opportunity to positively transition your career using some of the strategies below.

Tips for professionals in Transition

Following are some practical suggestions to help you assess different paths available to you as a traomed professional:

1.Determine What you Do Best – Manyh of the the skills you use every day as a  trained professional are extremely transferable.  Part of your dissatisfaction likely stems from doing work you don’t enjoy for people who may not appreciate your contribution.  Develop a list of skills and activities you enjoy (writing, mentoring others, providing sound advice to clients, leading your team, etc.) – as well as those you don’t (internal politics, working long hours, research, dealing with those who don’t appreciate or value you, etc.).  Now, review the list and reflect upon the fact that other professions will value and appreciate your best and highest level skills – and those skills are not limited to “just” being a (insert your career here).

2. Identify your Inner Circle – Create a list of your closest clients, contacts, friends, referral sources, business associates, community members, religious leaders; those whose advice you trust and respect.  Use this list to selectively and confidentially meet with your trusted advisors.  Tell them you are open to a change at this stage of your career.  Tell them what you enjoy doing most, and then be open to their ideas and suggestions.

3. Give Rainmaking a Shot – If you are unhappy in your practice, you are likely frustrated about your own perceived lack of marketing savvy.  Before you throw in the towel, develop and implement an individual marketing plan for yourself.  Whether you are a solo practitioner, mentor, an advisor in a small firm, or in a large firm, individual marketing is where the rubber meets the road for trained professionals.

4. Get some Professional Advice – If you are truly looking at making a career change, talk to a professional career counselor; preferably one who has successfully helped in your field of services make career transitions.

5.Consider a Personal Marketing Coach – If you choose #3 above, you might benefit from the focus, accountability, process, and expertise a marketing coach could bring.

6. Beef up your Resume – Regardless of whether or not you make a move now, it is always smart to keep your resume polished and up to date.

7. Create Representative Experience – Define your experience as a trained professional by category of experience.  Then, select the type of clients who best exemplify your work.   Create a brief summary of each engagement by stating: Type of Client, Client’s Issue, My Approach, Solution or Results Generated.  This is a great marketing tool as either an addendum to your resume, or to add to your professional biography.

8. Work your Network – During times of transition it is more important than ever to stay in touch with those in your network.  Make a point to attend events, schedule coffee or lunch, or in other ways to connect with your contacts.  Your next career opportunity will likely come through someone you already know!

9. View Transition as an Opportunity – Pat yourself on the back and acknowledge that many unhappy trained professionals never reach the point of seriously implementing any of the ideas above.  If you choose to, you will find happiness beyond serving as a trained professional, or, with a few adjustments, delivering trained profesional services the way you want to.For other resources and workshops aimed at  Business, employment and  career transition contact

 

EXPRESS REQUEST
Interested in moving forward and speaking one-on-one with one of our coaches? Simply fill out the form below, submit, and a coach will contact you shortly, or contact us anytime at 647.448.2052.  For other resources and workshops aimed at  Business, employment and  career reinvention contact  here

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