Problems faced by new Immigrant Entrepreneurs
New entrepreneurs entering into the country is facing loads of cultural, financial and skilled workers problems, which they to deal with when starting up a new business to fulfill their dreams.
It has been observed recently that the new immigrants coming to Canada are more interested in setting up their own business rather than taking up jobs offered to them by the employers here.
According to the statistics it has been noted that around 2.7 million businesses operating in the country and the growing number of entrepreneurs belongs to the new breed of coming immigrants as compared to the already staying in Canada. It shows the new immigrants coming to the country are more interested in creating self employment opportunities rather depending on the existing ones.
Further statistics shows that this trend is observed more in setting up small scale businesses as compared investing in large scale businesses.
Challenges to be faced:
It is not as easy to dream and fulfill it and that too in a foreign land; it comes with loads of challenges for these new aspirants. Like any other entrepreneur they have to face financial challenges as it is very difficult for them to get enough finance to start business of their own, acceptance challenges that is they might have problems in getting their ideas accepted by the people who belong to totally different culture from theirs. The next big problem is to get the skilled workers for the efficient working of the job and biggest of all for them is to create the potential market for their product or service into the place.
But for the new immigrants another problem is the government issues like hard rules and regulations for the immigrants, which may contribute to more of their difficulties. It has been observed and believed by the experts that those who have the strength to overcome them, emerge as winners.
Overcoming the difficulties:
The new immigrants relies on their own efforts, talent and spirit to overcome such difficulties, they try and build informal links to start up their businesses. Different types of favorable communities may serve as great help for them. Some of the provinces like Alberta, New Brunswick and Prince Edward Island also have started with the encouraging programs to for these new breeds of entrepreneur immigrants.
Another helping factor for them has been started up by the Canadian Youth Business Foundation Newcomer Program that will help such new entrepreneurs between the age from18 years to 34 years to set up businesses with offering them loans around up to $15,000.
Another way from which they can learn is studying the environment and experiences of already existing businesses.