A lot of business ideas for immigrants in Canada abound. Entrepreneurship is booming all over the world and people are opting to work from home these days. The advantages are numerous and quite appealing.
However, one truth that every Canadian immigrant must face is that the growing self-employment rate among immigrants is partly due to their inability to find a good job.
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Canadian Immigrants and Entrepreneurship
Although a majority of immigrants are self-employed because they choose to be, a higher population are self-employed because of lack of job opportunities.
But you know what? Immigrant-owned businesses are increasingly being recognized by host countries, as being essential to their economic growth.
It’s hard to imagine a Canada without immigrant-based businesses! It is a fact that Canada has been attracting immigrants to its shores over the years, but it is also true that immigrant experiences are changing as the economy of Canada takes a positive turn.
Still, many immigrants upon arrival in Canada, face challenges in opening businesses as a result of a language barrier, insufficient knowledge of the Canadian culture, and thin finances.
Ease of securing business loans
Added to these is the difficulty in securing bank loans which are natural, as banks are loathing to grant loans to people they hardly know.
Not to worry, it’s not all bleak for the Canadian Immigrant. According to a current World Bank report, Canada ranks 23rd among all of the world’s countries in terms of the ease of doing business.
Organizations like futurpreneur Canada, help young entrepreneurs with start-up loans for their business ideas. There are also a couple of government programs that may be open to you.
However, there is no business without a plan so before setting out on this journey to financial bliss, take a moment and think of your business plan.
What is a Business Plan?
- A business plan is a skeleton that gives flesh to a business. It is a simple, honest, thorough, and detailed drawing of the framework upon which your business will be built. It is a blueprint.
- Good business plan is a proof to your potential sponsor or financier, that you mean business.
- A business plan shows that you understand the business you want to venture into
- A business plan expects you to answer the following questions:
What is your aim of doing business?
- Who is your audience?
- What are their needs and how can you solve them?
- How much do you need to start your business and what do you need money for?
- How do you plan to repay the loan?
- Do you have any backup plan in the event of a failure?
If however, you are considering working from home, you may not need an elaborate business plan.
Basically, your business plan as a home-based entrepreneur should answer the following questions:
- What is your passion?
- Does this skill comes naturally to you?
- What are your limitations – Time constraints, Financial or physical handicap, Space?
- Are you solving a problem with your business? If not, why would customers buy from you?
- Can you really do this? Will you be strict enough to be your own boss or an employer of service?
If you have answered these questions, let us look at the top 10 business ideas for a Canadian Immigrant.
Top 10 business ideas for a Canadian Immigrant
There are so many topics to blog about. Commonplace things like the best holiday spots in the world, babies’ first steps, or Migrating to Canada, become hot topics when you give them an interesting angle. If you can write, you can be a blogger.
Once you have substantial follower-ship, you can sell products and services on your page. Of course, this would require that you learn how to host a web page but you can get that service for a little fee.
2. Web page designer
Although this is a specialized field, it is a lucrative home-based business that became even more popular when COVID-19 hit. Web page designers are making quite a tidy sum, as the demand for them is incessant. Virtually all businesses have an online space and this means business for the webmaster.
3. Content writing
Content writers are in heavy demand these days. Companies are forever looking for people who will write quality content for a fee.
4. Online tutoring
Are you proficient in any subject, even a skill? Create a website and go for it!
5. Customer Service Representative
Almost everyone is working from home, and call centers are becoming obsolete. You can do this. Simply sit home, take calls and provide feedback.
6. Home Cleaning Service
There’s quite a tidy sum to be made from rendering such services. Most people are too busy to clean up after themselves and would prefer professional cleaners to live-in housekeepers.
7. Driving for hire
People are always on the move, and often prefer to be driven. This is another lucrative business idea for the Canadian Immigrant. Once you can afford a fairly new car, you can register with many cars hire companies so you can make a substantial sum.
8. Day Care or Visiting Nanny
These are in high demand and there’s money to be made from watching over these little ones.
9. Rent your home
Do you have too much space? Why not rent some or all of it if you’ll be away for a while.
10. Be a Fitness Expert
People are forever looking for ways to keep fit, and the right meals to eat. If you’re an exercise freak or a nutritionist, you can turn this into a lucrative business.
Most of these business ideas actually just require you to have a laptop. They are mostly businesses you can do without seeking loans.
Moving forward, understand that starting a business can be daunting, but the end justifies the means.
While you expect to be successful at what you eventually choose to do, bear in mind that success is not instantaneous. You have to work hard it and be enthusiastic at what you do. Here’s wishing you a good experience at being your own boss!
What Are My Business Immigration Options in Canada?
1. Start-Up Visa
When it comes to business immigration to Canada, the Start-up or Investor Visa Program is the most common option.
This immigration program aims to create new jobs in Canada as well as bring in new, innovative company concepts.
In order to qualify, basic business conditions must be completed, such as receiving a letter of support from a qualified organization, satisfying language standards, and having sufficient settlement funds. To determine if you qualify, take an assessment.
2. Provincial Nominee Program – Entrepreneur Streams
If the start-up visa option does not meet your specific business needs, you may wish to look into provincial nominee streams.
Almost every province and territory has at least one or more business or entrepreneur streams targeted at meeting the demand for creative company ventures that can assist increase the Canadian economy while also creating new jobs for Canadian and international talent.
Who is eligible to start a Business in Canada as an Immigrant?
Anyone (including immigrants and non-residents) can start a business in Canada if they meet the immigration conditions for doing so.
In fact, a non-resident does not need to be a Canadian resident to run a business in the country.
What Is The Easiest Way To Start A Business In Canada?
The ease of doing business is one of the factors that attracts entrepreneurs to a country, and Canada ranks 22 out of 190 economies in terms of ease of doing business, according to the latest World Bank annual rankings.
According to available statistics, Canada’s ease of doing business averaged 14.67 from 2008 to 2016, with a high of 22.00 in 2016 and a low of 8.00 in 2009. This demonstrates that doing business in Canada is quite simple.
How Difficult Is It For A New Immigrant In Canada To Start A Business?
Generally, starting a new business in Canada is not difficult for a new immigrant as long as they complete all of the standards and have the financial means to start the business of their choosing.
how much money do you need to start a business?
While certain business types can start with small business startup expenses as little as $1,000, the average small business entrepreneur in Canada should expect to spend $5,000 to $10,000 to get their business off the ground.
What is the best way to start a business in Canada if you are from Nigeria?
To start a business in Canada from Nigeria, you must first contact the provincial register of the province in which you wish to do business and complete the necessary procedures.
If you want to do business in more than one province, you must register your new company with each province separately.
What Is The Best immigration options To Canada In 2021?
- Express Entry System.
- Immigration Pilot Programs.
- Entrepreneurship Immigration Options.
- Family Sponsorship.
- Study in Canada.
Can immigrants do side or home business in Canada?
Certainly yes. There are many opportunities for immigrants to start side hustles, home business or even work on online in Canada. Some of the business ideas discussed above can be done from the comfort of your home or as side hustle.