Canada has been benefitted immensely due to the contributions of immigrants. That can be one reason why the country’s immigration rules are much flexible and open. And now Statistics Canada has confirmed what has been known always. According to the latest report, small as well as medium-sized immigrant business Owners are more inclined towards implementing a new product or process innovation.
Immigrant Business Owners Are Open To Experiments
The reports state that 8.6% of immigrant business owners in Canada are more likely to invest innovation for creating a new product whereas 20.1% show intention to innovate production methods or processes. These are the business owners who have the inclination to find out innovative ways to market their products which confirms that immigrant business owners are much more open to experiments than locals.
Contrarily both the immigrant and Canadian-born individuals showed the same interest when it came to organizational innovation. Although both the groups showed an almost similar penchant for using intellectual property, immigrants are more interested in registering their industrial designs. However, there is not much difference when it comes to the use of patents, trade secrets, non-disclosure agreements, and registered trademarks.
The study by Statistics Canada is aimed at finding out whether the immigrant status of a middle or small-sized business owner plays a key role in the business or firm taking interest in implementing innovation or wanting to hold intellectual property. The main interest of the researchers is to get a broader view of what motivates people to innovate and how investment in innovation is helping the businesses in Canada to succeed and flourish.
Immigrant Entrepreneurs Are Highly Educated
For the final results, the study considered the data versions of Survey on Financing and Growth of the Small and Medium Enterprises of 2011, 2014, and 2017. Since the Canada immigration policy very keenly screens the educational qualifications and other skills in the immigrants, it is but natural that most of the immigrants are highly educated.
That is why it is not at all surprising that immigrant entrepreneurs are more qualified as compared to local Canadians in the fields of technology, science, mathematics, and engineering. These are the people who have left their countries to grow wings internationally and hence show more inclination towards international trade and filing patents in the United States. That is one of the major reasons why immigrant business owners are more likely to invest in innovation.
Also, immigrants are more exposed to international technology and have better knowledge about the latest updates in the field of engineering and science. That gives the immigrant business owners a bigger edge over the local business owners who sometimes fail to catch up with them. Thus, Canada seems to be benefitting more largely than it ever anticipated by welcoming immigrants to its land.