What Makes Canada an Attractive Place for Entrepreneurship?
Just recently, Canada has seen a few business initiatives that have enabled both offline and online business opportunities to grow. To create an enabling environment, the government has done all that it can. As a budding entrepreneur, investing in Canada is something that you need to look forward to, if you want to thrive in business. But what makes Canada one of the most appealing business destinations. Here are some clear facts.
In Canada, many businesses are benefiting from low interest rates, an expanding economy, and the availability of credit for those who want to borrow. Unemployment rates are also improving and there is low inflation. In any country, foreign investors have always played a significant role when it comes to the growth of the economy and Canada is not an exception. For instance, the country has withholding taxes on inbound dividends and certain types of interests and loyalties that are suitable for growth.
These are put so that foreign investors are encouraged to invest in the country. The investments by the Canadians and the non-Canadians will, therefore, spur economic growth and employment opportunities all over the country besides, it provides for review opportunity so that any investment done by the non-Canadians can be beneficial for the country as a whole. When acquiring or establishing a new business, an investor is only needed to inform the government of their intention before taking up the challenge. Although no review is required, in case one is needed the approval process in not only fast but also done in the most straightforward way so that businesses can start operating as soon as possible.
This means that, whether you are looking for a network with entrepreneurs, ready business, or new business ideas, you will realize that Canada has a variety of opportunities available for these. The technology and simple business enterprises places are also growing at a fast rate, making the country one of the best places to invest in. This is a great yardstick especially for those who are intending to invest in the country. Since businessmen understand that such like opportunities are rare, they always move very fast so as to take advantage of them. As a matter of fact, the business environment in Canada offers everything that you need for your business to grow.
It’s believed that approximately 70% of Canadians citizens are involved in service industry which makes it one of the best sectors in the economy. For instance, logging and oil sector dominate the economy leading to a quick economic growth in the country. Since these sectors offer employment to a large number of people, many immigrants and businessmen are often attracted to the country so as to take advantage of the ready market that the country offers.
As the second largest country in the world, Canada has a huge amount of natural resources that make it one of the most admired economies in the world. Whichever province that you choose to go to, you will find the country ideal for all your business endeavors. With globalization taking shape, the country is increasingly becoming more and more attractive to business startups.