Canada becoming the new hub for Indian entrepreneurs
Last Updated: November 08, 2021
Canada has visa programs specially designed to help budding entrepreneurs from India and all over the world
By Lovedeep Singh Arora
Is America’s loss Canada’s gain? Young Indian entrepreneurs are increasingly finding many advantages and benefits in business immigration to Canada.
Canada has now become a hub of booming businesses. Entrepreneurs, investors, as well as people starting a new business venture from all over the world, are these days looking for options in Canada.
There are a lot of reasons why individuals are willing to settle and start their business in Canada. First of all, the Government of Canada is extremely welcoming when it comes to setting up new businesses and companies. As we’re aware that Canada has a diverse population and has a perfect blend of different cultures and communities living together, which means there are people belonging to different backgrounds looking to consume different products and services. Canada having people from diverse backgrounds gives more options to budding entrepreneurs to look at.
In India, the trend of coming up with “startup” ideas is now surfacing. The pandemic that lasted for almost two years did affect India and Canada’s economy greatly and now that everything has again started to settle, Canada has a set of programs to offer like the Intra-Company Transfer Program, Canada Startup Visa Program, specially designed to help budding entrepreneurs from India & all over the world to gain special visas & start their business there. There are startups like Videotap and Zaggle that started in India but then soon earned a place in the Canadian market as well.
In order to start a business in Canada, it is not necessary for an individual to have professional expertise. Gaining a Canadian visa requires a little bit of technical knowledge and a little experience, you’re good to go. Through the Startup Visa Program offered by Canada, one can not only start a trade there but can also become a Permanent Resident along with his complete family. Canada offers premium healthcare facilities to all the people residing there. Also, primary education is comparatively cheaper & also free in some of the provinces. All these benefits make Canada a reliable choice for Indians to relocate.
Canada was also ranked #1 out of 78 countries in the recently released 2021 Best Countries Report from US News & World Report. It received tremendous marks in the Entrepreneurship and Open for Business categories. Canada scored 79.6 and was ranked 23rd in the world in terms of ease of doing business in 2020.
Canada was ranked #9 with a score of 77.9 in the 2021 Index of Economic Freedom falling in the Mostly Free Category while India is at #121, falling in the Mostly Unfree Category with a score of 56.5. As of 2020, Canada’s GDP per capita stands at $43,295 while India’s is at $1,928.
A robust business strategy is required even for the best of business ideas, hence, it is advisable that people having an intent to relocate to Canada.
(Lovedeep Singh Arora is Managing Director and Co-Founder, The Ace Luxury Immigration Solutions)