Posts Tagged ‘ immigrant-founded businesses ’

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

 

 

Identifying Business Opportunities in Canada

Spotting market opportunities is essential for growth and survival. You need to know where to find these opportunities and understand how to take advantage of them.

There are a number of ways of working out what are the best opportunities for your business, including:

1.Carrying out an analysis of the strengths and weaknesses of your business, and the opportunities and threats it faces (a SWOT analysis)

2. Establishing your unique selling point (USP)

To more effectively identify new business opportunities, you have to dig deep and ask lots of questions. Take a step back, and use these questions as a guide to help you create or adapt business strategies to meet the changing needs of your market.  For international students and international trained professionals in Canada which  are perfect  candidates for immigrant entreprenuership, your goal is to learn how to tell a good  oppotunity from a bad one. Here are some other tips:

  •  It is important to analyse the business you want to do. This will help you plan for the future.
  •  Franchise: having a solid financial base and a product that is sure to atract attention,
    The best business opportunities involved companies that offer something consumers will need or desire
    over all other competing products.
  •  New Business: keep in mind that new business or a plan to start a business may be riskier than going
    with a company with an established track record. However, business opportunities of this kind are to automatically suspect. If the funding is there and the organization is structured properly, the opportunitiy is well worth your consideration.
  •  You will find that in Today Canada’s market, it is worth your time to consider a web based business as well as home-based and more traditional business setting. The best business opportunities have a comprehensive and well  defined system for getting the products to consumers. This includes such factors as a reliable process for producing  the good or service, excellent sales and marketing strategies, and an efficient delivery to the buyer.
    Without the ability to sastify orders quickly and efficiently, even the best product is less likely to build a loyal client base.

 

For Advisory on entrepreneurial development  Training  click  here

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.

Access more than 400,000+ Canadian province-specific company profiles in industries such as manufacturing, transportation, consumer goods, consulting services, finance and technology.  Available only to premium subscribers.


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