Immigrants Start More Companies in Canada
A new study conducted by Statistics Canada reports that immigrants are starting new Canadian companies at a higher rate than people who were born in Canada.
The Canadian government report, published in March 2016, says that 5.3 percent of immigrants have established their own business nine years after they move to Canada. This compares to 4.8 percent of individuals born in Canada who own their own Canadian companies.
Furthermore, the Statistics Canada research reveals that an additional 19.6 percent of immigrants become unincorporated self-employed people after they move to Canada, compared with 16.1 percent of those born in Canada.
The study also found that people who immigrate to Canada start businesses at different rates, depending on the Canadian immigration program they were approved for. Thus, 15 percent of the main applicants approved to immigrate to Canada through the Business Class Canadian visa program have established their own incorporated businesses in Canada, versus 6.2 percent of skilled foreign workers approved for Canadian immigration through an “economic immigrant” program or 4.3 percent of foreign-born business owners who move to Canada through the Family Class program.
According to the report, most of the companies created by people who immigrate to Canada are in certain sectors of the Canadian economy, such as: accommodation, construction, food services, professional services, retail, scientific/technical services, transportation or warehousing.
Not only are many immigrants establishing their own companies after they move to Canada, but they are also creating new Canadian employment opportunities across the country. These new jobs in Canada benefit both Canadian-born and foreign-born workers, all of which helps to stimulate Canada’s economy.
Whether you choose to start your own business or want to find good-paying Canadian employment, you and your family can enjoy a high standard of living if you immigrate to Canada. To find out which Canadian immigration program you are eligible to apply for, click here!
