As the influence of the Coronavirus lockdown continues to influence individuals worldwide, Canada has continued to demonstrate its solidarity, not just for Canadian nationals and permanent residents, but also for small business owners, as well as facilitating business immigration to Canada. The government has added more relief to aid the corporate community after Prime Minister Justin Trudeau unveiled his original $82 billion economic response initiative to the Coronavirus pandemic, $27 billion of which will be dedicated to further alleviate the financial pressure and stress that Canadian firms and employees have found themselves in. In addition to the temporary 10 percent pay subsidy, from March 15 to June 6, 2020, small companies will also now be eligible for 75 percent of employee salaries for up to 12 weeks, which will help employers rehire employees who have lost their jobs due to the pandemic of the Coronavirus.
PM Trudeau also declared that from April to June, a 50 percent rent relief would be applicable to commercial property owners provided they agreed to give their small business tenants a 75 percent rent discount as well as promise not to evict any tenants over this 3 month period. And to top it off, small companies will have access to a range of interest-free loans, with up to $10,000 of debt being washed clean until the loan is repaid before the end of December 2022, from separate credit institutions to the amount of $40,000. These are also some of the few ways in which Canada looks after its residents and permanent inhabitants.
Isn’t this the kind of climate for your latest business plan that you might want?
Top 5 business prospects for immigrants in Canada
99.8 percent of Canadian companies, employing more than 8.3 million workers, are either small or medium-sized businesses with fewer than 500 employees. Small companies contribute approximately 38.4% of the Gross Domestic Product (GDP) of Canada, showing that it is not only the ideal choice but one of the most profitable opportunities for those seeking business immigration to Canada. Canada promotes entrepreneurship, empowering start-ups to thrive, particularly immigrant and women-owned enterprises, which make up a third of small to medium-sized enterprises in Canada.
Which sectors in Canada are doing particularly well? Let’s have a peek at the top 5 business prospects for immigrants in Canada.
Lodging and Catering Services
The lodging and food services of Canada are a thriving sector, and the industry is predicted to rebound back once sanctions have been lifted, considering the current hold imposed due to the Coronavirus lockout.
Again, in the tourism and hospitality sector, there are many professions in demand, making it easier to find workers with the expertise and qualifications in occupations such as food and beverage servers that you would need to make your company a resounding success. Alberta, Manitoba, New Brunswick, Newfoundland and Labrador, and Nova Scotia are provinces to be looked at when evaluating business immigration to Canada.
Canada’s farming and agri-food industry is one of Canada’s highest and most productive industries, responsible for $49 billion of Canada’s GDP. What makes it such a feasible choice for business immigration to Canada is that, due to the strong demand for jobs in those professions, there are too many opportunities open for those who choose to immigrate to Canada, making it easy to find qualified and qualified employees in occupations such as:
- Land Laborers;
- The Truckdrivers;
- Employment in meat production, such as butchery.
Ontario, Saskatchewan, Alberta, Manitoba, and British Columbia are common provinces for agricultural business opportunities in Canada for immigrants.
Retail & Wholesale
Although the wholesale and retail market in Canada had a small hit at the end of 2019, in 2020, retail grew steadily month after month. Projections suggest that you should foresee a massive spike in wholesale and distribution areas such as general merchandise, fuel stations as well as motor vehicle and parts dealerships after the Coronavirus dust settles.
As the coronavirus pandemic continues to raise demand globally, there has also been a significant increase in the need for medical supplies. Data suggests that as you weigh up your business immigration choices to Canada, you will want to include provinces such as Alberta, Saskatchewan, Alberta, and British Columbia, as they have shown substantial growth in previous years.
Skilled, technological, and research resources
The professional, science and engineering sectors of Canada are a steady source of income and a perfect choice for those looking to Canada for lucrative business investment or business immigration opportunities. Alberta and Ontario, which have seen tremendous development over the past few years, are provinces to consider setting up shop in. These markets are rising at such a pace that some provinces such as British Columbia and Ontario have dedicated immigration streams to help meet the need for an ever-growing market, especially for tech professionals.
For corporate owners and others seeking business immigration to Canada, construction has been a steady investment. The need for more building firms to help bear the burden and fulfill those regional and municipal needs in Canada is increasing with the growth of new infrastructure projects nationally.
Those in the commercial rather than the residential sector are areas that have seen significant development. Ontario’s demand has been especially strong, as the province is aggressively pursuing foreign professional workers to satisfy labor demand in professions such as project managers, building managers, and general construction workers involved in immigrating from its construction industry to Canada.