Canada, with its technological advancement, safety, and economic stability, stands as one of the world’s most promising destinations for business and work. While the path to success is not guaranteed, the Canadian business landscape offers a myriad of diverse opportunities, particularly for immigrants.
Starting a business in Canada poses challenges, but with the right sectors and strategies, recent immigrants can find their way to prosperity. Here are 6 business investment opportunities that you can consider to obtain Canada Investment Visa.
1. Construction Business
The construction industry in Canada is booming, but the shortage of skilled workers has created a demand for professionals. From plumbers to roofers, carpenters to bricklayers, numerous construction-related roles await.
The country is in dire need of professionals equipped to tackle an array of ongoing development projects. The beauty of this sector lies not only in its lucrative remuneration but also in its potential for incremental earnings based on experience.
An impressive 1.4 million individuals are employed within Canada’s construction industry, collectively contributing a staggering $141 billion to the nation’s economic output each year. This colossal contribution represents a substantial 7.5% of Canada’s Gross Domestic Product (GDP). At present, several construction-related roles are experiencing soaring demand:
- Plumber
- Bricklayer
- Asphalt spreader
- Roofer
- Carpenter
- Concrete mixer
2. Hospitality Business
Despite the setbacks caused by the COVID-19 pandemic, Canada’s hospitality industry is recovering. Skilled personnel are needed to cater to the needs of both locals and tourists.
The hospitality business is among the frequently pursued business investment opportunities in Canada. Tourism remains a substantial industry in Canada, offering numerous job opportunities. With a thriving $90 billion tourism sector, over 1.9 million jobs beckon in this field. Key positions include:
- Hotel Housekeepers
- Waiters and Servers
- Server Managers
- Professional Chefs or Cooks
- Bakers
Solid Business Plans & Business Strategy For Entrepreneurs
3. Agriculture Business
The agriculture and agri-food sector is a major contributor to Canada’s economy and employment. Professionals in roles like winemakers, truck drivers, farm workers, butchers, and beekeepers are in demand. It contributed an impressive 7.4% to Canada’s GDP, translating to a staggering $139.3 billion which makes it the perfect option for immigrants looking for business investment opportunities in Canada. The provinces of Alberta, Manitoba, British Columbia, Ontario, and Saskatchewan are particularly prominent players in the agriculture landscape.
4. Retail and Wholesale
The retail and wholesale sectors, particularly in provinces like Alberta, Saskatchewan, and British Columbia, offer significant promise. The upheaval caused by the COVID-19 pandemic has led to a surge in demand for medical products, necessitating the recruitment of additional personnel. These sectors jointly contribute a substantial $209.7 billion to Canada’s GDP. Top roles in demand include:
- Bookkeeper/Cashier
- Visual Merchandiser
- Cleaning & Maintenance Staff
- Retail Warehouse Worker
- Human Resources Manager
5. Education Business
Education is highly valued in Canada. If you have expertise in education or can provide educational services, there are opportunities to explore. Providing tutoring services, language courses, or specialized training can be lucrative. The demand for educational services continues to grow, making it a viable business option for immigrants.
With an investment of approximately 5.9% of GDP (equivalent to $11,854 per student) in education, the stage is set for educators to make a profound impact. Notable roles within this sector encompass:
- School/College Tutors
- Curriculum Developers
- Teachers
- Professors
- Education Administrators
6. Automotive Business
Canada’s automotive service industry has substantial potential. Opportunities exist in areas like tire stores, automobile service stations, driving schools, mobile oil changes, mobile car wash, spare parts distribution, and tow trucking services. These businesses cater to Canada’s thriving automobile market and can be profitable for immigrants interested in the automotive sector.
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How to Buy a Business in Canada for PR?
Sure, here’s a summary of the steps to buy a business in Canada for the purpose of applying for Permanent Residency (PR):
- Choose a suitable business with strong sales.
- Create a solid business plan.
- Get a positive LMIA and a work permit.
- Run the business in Canada.
- Apply for PR, either immediately or after a year.
Buy a Business in Canada for PR: A Step-By-Step Guide
How to Start a Business in Canada as a Foreigner?
The three main ways to start a business in Canada are described below.
- Expand Your Current Business: Easily expand your existing business into Canada, opening an office or subsidiary. No Canadian citizenship or permanent residency is required, but hiring a Canadian may be necessary.
- Start a Business from Abroad: Begin a business in Canada while residing in another country, benefiting from the Investment Canada Act. You’ll need a Canadian company director and a local agent for incorporation.
- Move to Canada and Start: A popular option is relocating to Canada and starting a business. Several pathways are available for this approach.
Start a Business in Canada as a Foreigner: Ultimate Guide
Need Help?
Canada’s blend of economic stability, safety, and diverse opportunities offers a promising foundation for immigrants seeking business success. While challenges exist, strategic planning, skill development, and cultural adaptation can help immigrants thrive in sectors such as construction, hospitality, agriculture, retail, education, and finance.
Are you an aspiring entrepreneur seeking to establish or acquire a business in Canada and make it your new home? Look no further than Elaar Immigration. Led by Keshav Sharma, a seasoned professional with decades of business management experience, our team of Regulated Canadian Immigration Consultants is here to guide you every step of the way.
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