If you are willing to run your business in another country, it is very important to choose an appropriate location to establish your business because the location is the important factor that directly impacts the working of a company. Canada has 3rd rank among 197 countries across the world for providing a strong atmosphere for a new startup. Canada is a well-known country Worldwide for its entrepreneurial reputation. Toronto is known as the second largest place for its technology, that’s why it has become a prior destination for people who want to expand their business.
Here are the reasons why Canada is a good choice to establish your business:
1. Globally Competitive
Toronto is the centre of North America both politically and financially and it is very close to other places such as New York, Boston, Washington and Chicago etc. Starting your business in Toronto will provide you with communication and travel facilities. You can visit other cities easily and quickly which will enable help you to maximise your productivity and profits.
Canada has international trade agreements like the North American Free Trade Agreement and the Comprehensive Economic Trade Agreement with the European Union. It can increase your approach towards numerous consumers in the United States of America and the European Union.
Canada has the capability to provide its investors and business owners with a favourable environment regarding their business in comparison to other countries. Other factors also influence its market productivity like new creativity always prefered to attract the investors, offers in taxes, up-gradation in technology also improves the market performance. Canada has included in the top 10 countries regarding its health system, education qualification and labour market facilities which favour the Canadian economy to be competitive with other countries.
Business entrepreneurs are always interested to avail the benefits of Canada’s strategic location. Canada is sharing its longest border with the U.S, which is known as a superpower economically around the world. Its transportation network such as railways and roadways joining it with international port and playing a vital role to boost its economic conditions.
2. Highly-Educated Talent
Canadian administration Provide funds to improve the Educational qualities, even free Education facilities also available for Canadian people Provided by the Government. Canada continuously near the top position for education-related metrics, even the percentage of working force also high who completed their post-secondary education.
Toronto is a famous destination known for its talented people across the world, which consider it as a prime location for investors. Thousands of people come here and choose it for their business expansion and settle here forever. Toronto’s talented and skilled and highly-educated people are the force that is responsible for its economic growth and prosperity.
Canadians citizens, including their immigrants, are the most educated population across the world. Ontario has the highest population of almost 67 per cent who have completed their graduation.
3. Stable politics and economy
Canada is known as a peaceful country, filled with politeness and education although some political parties have different ideologies but no violence noticed during the transition of power. The economy of Canada is also stable. Canada had overcome the recession that occurred in 2008. It had not gone through the financial crises and bankruptcies of people that the other countries had faced. Canadian economist now working to develop low-carbon economy has announced carbon tax for high carbon industries.
4. Diversity, inclusion, and immigrant supportive
Canada is known for a low birth rate population country. immigration is an important factor to fill the labour gaps. Almost one out of five Canadian citizens are from other countries. Canada has introduced many streams to increase immigration such as the federal visa Program, the Express Entry program and many provincial programs. In Canadian schools, students learn to speak both languages French and English. The newcomers come from different parts of the world, they have their own different customs and culture but they never face any problem regarding this while living in Everyone gets equal opportunities to increase their business and credibility.
5. Liveability – health, education, and environment
The prosperity index of a country is based on its educational system, health care structure and cultural enhancement and its peaceful environment, security system for its citizens. Canada fulfils all norms. Canadian citizens have no fear of any terrorism. The climate of Canada is also very pleasant. The educational system of Canada is also very advanced and they are preparing future entrepreneurs through their education system. Permanent citizens in Canada avail free medical help.
6. Government support
Tax Benefits: Foreigners investors who have established their business in Canada can apply for margin on many taxes which can help them to reduce the cost, indulge in raw material expenditure overhead, and contract expenditures.
Government Grants: The Canadian government always works hard to encourage and support to provide successful startups and a more wide environment for new investors. According to the Forbes report, the Canadian government gives refunds to the companies who invest in this sector, making it different from other regions. There are 4 business areas of government grant such as:
- Hiring and Training Grants.
- Capital Investment Funding.
- Research and Development Funding.
- Business Expansion Funding.
Canada is in the top 15% for business ranking and currently, it ranked 22 out of 190 countries. The whole process of starting your own venture/business is with very little paperwork. Canadian government offers a number of grants and loans many programs to encourage the business network. The government also offers health and education support which makes it a favourable destination for your business.
Canada is famous for business startups and their economic stability. Its universities provide their students with a world-class education at very affordable charges that’s why Canada has highly-skilled workers and a highly-educated population. In 2012, almost 51 per cent of the Canadian population completed their university-level education or have a degree or diploma from a technical school. Canada has the fourth position for the highest investor in education.
7. Entrepreneurship as a way of life
Almost 13% of Canadian people are entrepreneurs doing their own businesses and in the case of the first generation of the Canadian population, it is almost double than the Canadian born population. The world knows Canada as the most entrepreneurial nation. Canadian people not only start businesses on a personal level but they are also joining new companies. Canadian schools have set their curriculums and study structure which encourage the students to be an entrepreneur, teach them how to work in a team. An entrepreneurship is a compulsory topic at the post-secondary education level and many universities have special courses regarding this.
Do you have a business idea? Are you looking forward to starting your own business? Then what are you waiting for! Canada has many programs to allow entrepreneurs and start-up founders to migrate to Canada, even gain permanent residence there. Contact ImmigToronto for world-class immigration services, and find out what you need to establish your business in Canada and grow!
