Posts Tagged ‘ immigrant entrepreneur ’

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.

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.