Why are more immigrants setting up small businesses in Canada?
Small businesses in Canada
Business immigration is the new trend which Canada faces today. Through this process the Canadian government is trying to support as well as ensure the development of an economy which is strong and sturdy. As a business immigrant you must apply to the nearest visa center.
The business immigrants can essentially be classified into three – investor, entrepreneur and any self employed individual. The forms for the visa application and the required details can be easily downloaded from the internet. Also most of the provinces in Canada have a policy of investment stimulus which is attracting the business clout. Several funding are being made in order to initiate and motivate new business settlers to Canada.
Loan Schemes for Small Business Immigrants are the collaborative programs which the government runs in Canada. This scheme aids the newcomers in beginning, buying and even expanding their business. In this manner the country has also been able to create employments for several thousands. Under this scheme an immigrant can easily borrow an amount of $150,000 in order to set up a business in any province of Canada. The detailed requirements for the loan may wary as per the province. The aim of this plan is basically to create jobs while helping in the growth of the economy. The program also contributes by alluring immigrants and retaining them. Trained manpower with motivation is a good opportunity of bright future for any country.
Over the provincial planning there are also programs at federal level for immigrants. One such program is the Entrepreneur program which is for those immigrants who have previously owned as well as operated a business for a period of 2 years. The business will be acknowledged on basis of the sales, ownership, employment as well as the income involved. Then comes the investor program where in the investors are required to loan Canadian government a total of $ 400,000 without interest. Several institutions are backing this kind of passive investment which carries great results. The details of this program are easily available online and may be accessed by anyone.
The self employed individual program is apt for individuals who are self sufficient in any cultural activity or have participated on global level in such activities or have experience of farm management. Such individuals are assessed on basis of point system. The above is the main reason behind the crowds of small business owners who are flocking towards the shores of Canada, a land of opportunities indeed.