Besides the friendly nature of Canadian citizens, businesses do relocate because of the opportunities that lie within Canada for expansion. Many businesses find that within their specific niche scaling upwards is more favourable in Canada than in their own countries. In the order of business immigration, these countries are India, China, Philippines, Nigeria, USA, Pakistan, Syria, and Eritrea.
As is apparent from the above list, the most underdeveloped countries do want entry to Canada for the freedom to pursue business with little restrictions, as well as the personal freedoms that Canada offers. While the USA is on the list, the USA has its own personal freedoms and is less restrictive in nature and friendlier to businesses also.
Canada is on the Forbes list of business-friendly locales
Especially for start-ups and new entrepreneurs, who have little money, Canada is known for its stable economic conditions. The Canadian dollar in recent years has also risen in value and is almost on par with the value of the US dollar. While many immigrants from Europe and other countries also seek entry when it comes to business, freedom, and deregulation are important to businesses. Businesses in underdeveloped countries struggle to survive and entrepreneurship is not always encouraged.
Certain types of businesses are also drawn to Canada. Skilled tradesmen, healthcare workers as well as technology groups are stressed in Canada. The Canadian Government has gone so far as to offer a Start-Up Visa to encourage business development that is diverse within Canada.
Of course, Canada does still follow the LMIA (Labour Market Impact Assessment), regarding workers that would be imported by new companies in Canada but the hopes are that Canadians will enjoy more employment opportunities first so the LMIA remains in place and even businesses that relocate to Canada must follow the LMIA guidelines.
Regulations do exist in Canada for businesses
Everything from how to register a business legally and a business name is provided on the Canadian Government website. There are literally many types of permits needed depending upon the type of business, and there are also safety factors that must be followed. Canada just does not permit business owners to throw open the doors of a new business without all the regulations being in place first.
There are three levels of governmental regulation in Canada, Federal, Provincial and Territorial. Much like the USA, all three levels require regulations and permits and these can be daunting so a lot of research is needed before immigrating a business to Canada, whether a new or existing business. Canada is a Parliamentary Democracy and while the freedoms are extensive under this type of government, businesses immigrating from countries that do not have many levels of government can need the assistance of a good Canadian immigration business law attorney.
Canada attracts business immigration
While as free as the USA, the corporate tax structure is much lower and a chief reason why businesses choose Canada over the USA for relocation. Canada also is readily accessible to the USA so intercontinental businesses are especially drawn by this feature. Canada is also accessible by its nearness to three bodies of water which can lead to easier expansion by some types of companies, especially freight and transport companies.
To sum up the location advantages, Canada is accessible to three oceans, 550 ports, and 16 airports. Every start-up business does not know for sure how fast growth will be but with this type of accessibility the future growth of companies that immigrate to Canada is actually unlimited. Action plans between the USA and Canada also exist as both are in North America and do have alliances with each other that speed up free trade. Businesses that immigrate then get the same benefits as in the USA but with lower business costs, lower costs of living, and of course, lower corporate taxes which remain the number one reason.
Canada offers business financing assistance
Especially for small businesses, Canada enhances the appeal of business immigration by offering a Small Business Funding Program. This adds to the multi-culturalism that Canada promotes and assists businesses in starting and staying open. Guidelines do exist, of course, but this is a huge advantage over relocation to the USA or other countries where new businesses must generally qualify and pay off a business loan themselves. While the funding assistance is a loan in Canada, the interest rates are lower and approval is enhanced by the government promotion of these.
It generally takes between three and five years for a business to see a break-even point, and even when a business is stable and in business for a while relocating does require starting all over with new clientele many times. Canada’s available financing assistance does lead many businesses to either start or immigrate to Canada.
Other factors that compel business immigration
Canada has a lower cost of living overall and there is an appealing diversity. Both English and French are spoken and businesses can relocate to either an English-speaking territory or one that is French therefore enhancing the chances for less culture shock. While it can be quite cold at times in Canada the roadways and streets are well taken care of as are the buildings. Lower-income housing is not as rampant as in other countries so Canada is a safe country overall.
Technology is promoted by the Canadian Government through the Canada Digital Adoption Program. This is a technology-focused funding program that assists businesses in keeping current with the latest in technologies and also expedites young employees’ access to technology and training which improves work performance.
Summary of business immigration to Canada
Canada has a wealth of opportunities for small, mid-sized, and even start-up businesses and does encourage businesses to relocate to Canada. The programs are vast for businesses and are supported fully by the Canadian Government. The trend for business immigration to Canada is not diminishing but increasing and Canada is becoming a world leader as the location in which businesses will find all the tools and support needed to be successful.