7 Reasons Entrepreneurs Are Moving to Canada

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If you are an entrepreneur or professional looking for new opportunities, you should consider moving to Canada. Different aspects make this country famous for foreign investors, businesses, and professionals alike. Below are some reasons that make the country favorable for new enterprises:

1. Skilled Workforce

Canada has a world-class education system. Many of its residents have received higher education, making it an excellent source for well-educated employees. The immigration programs in the country attract professionals who add to this skilled labor force. Entrepreneurs and investors have an easier time when looking for qualified staff. Toronto has been hailed as a great city for tech start-ups and innovators mainly due to the various technical universities that churn out top-tier tech graduates each year. Many companies in Canada concentrate their efforts on hiring the best immigrant workers while offering some competitive salaries and benefits. This means that most of the labor force is more than qualified.

2. Attractive Incentives

The country’s government supports research and development initiatives by offering premium tax incentives. The cost of doing business in Canada is relatively low, and the tax rate is substantially lower when compared to the other Group of Seven countries. This low tax rate makes it easier for new businesses to be well established and survive even in economic uncertainties. There is also a large pool of venture capitalists eager to fund and develop promising new ideas and innovations. Small and medium-sized businesses have better access to government grants. The economy is quite competitive, especially for innovations and new companies, and this provides a fast and steady economic development which is great for businesses.

3. Work Visa

Programs such as the Start Up Visa CIC make it relatively easy for you to establish your business in Canada in a reasonably short time. Applying for a visa is quite simple and can be completed within six to eight months. On the plus side, the survival of your business or lack thereof does not affect your permanent residence status. After completing all the requirements, you can start your business and enjoy all the social benefits Canada offers.

4. Less Corruption

We all want to work and live in a country with significant social and ethical values. The corruption rate goes a long way to determine how safe your investment is, especially in foreign countries. Canada is ranked among the top 15 least corrupt countries in the world. This environment encourages more investors to expand the business and support innovations.

5. Standard of Life

One of the defining traits of Canada is that the country offers high quality and low cost of living. This is a balance that even the most developed countries are still yet to achieve. Cities such as Toronto and Vancouver are rated among the best places to live globally. The natural beauty and diversity of the cities make them a hub for foreigners and international clientele.

6. Politics and Safety

Political stability is key for the growth of any business. This is even more vital for foreign investors in new and uncharted territories. The country’s political stability will determine how well your business interests perform and the availability of expansion opportunities. Canada is rated second in the most politically stable countries to work and live. Most cities have low crime rates making them safer than most metropolitan cities you would go to for entrepreneurial purposes.

7. Freedoms and Rights

When you move to a new country, there is always worry about what you can do as an immigrant and what freedoms are only afforded to the residents. As a permanent resident, you can travel for work to many countries in the world using your work visa. You share the same rights as local businesses, which gives you the same growth benefits. The progressive nature of the country ensures that diversity and equality are celebrated and encouraged.

It is no surprise that Canada is the most preferred country for multinational and start-up businesses. The government has invested heavily in supporting all forms of companies with rights, laws, and policies that make it easy for foreigners to invest. Many advancements have been made to the health sector, clean and renewable technology, and great strides in artificial intelligence, making cities like Toronto a hub for technological innovations.