Immigrant Entrepreneurs Expand Canadian Exports to New Markets
A new study released by the Conference Board of Canada in June 2014 says that people who immigrate to Canada and start their own business are more likely to export to overseas markets than non-immigrant entrepreneurs. Since the majority of Canadian exports are shipped to the neighboring United States (Canada’s largest trading partner), immigrant entrepreneurs are helping to boost the Canadian economy by expanding exports to new non-US markets. The report states that 12% of foreign nationals who immigrate to Canada and establish small-to-medium-sized businesses export goods and services to non-US overseas markets, compared with only 7% of Canadian small-to-medium-sized companies owned by non-immigrants.
The Conference Board of Canada declared that immigrant entrepreneurs are a source of strength for the Canadian economy for a variety of reasons, including having contacts in their country of origin and possessing foreign language and cultural skills that facilitate international trade. The study also said that people who immigrate to Canada and launch new companies (particularly in the “knowledge sector”) bring with them fresh ideas and innovation that can enhance the Canadian economy through the creation of new products and services which can be sold domestically and overseas.
Canada is a land of opportunity for millions of people from around the globe. Approximately 250,000 foreign nationals are issued a Permanent Resident (PR) Visa to Canada each year through various Canadian immigration programs. A Permanent Resident Visa to Canada authorizes a foreign national and their eligible family members to live long-term in Canada and provides them with many great benefits, such as being able to start a Canadian business or apply for jobs in Canada. They can also attend Canadian educational programs, which can enhance their future career options, plus receive free basic healthcare and enjoy the high standard of living and spectacular scenery that Canada is famous for.
The Canadian government wants skilled foreign workers to help fill thousands of jobs in Canada that cannot be filled by Canadian citizens due to a labor shortage across the country. It also wants immigrant entrepreneurs to start their own companies which can create new jobs in Canada, boost exports and strengthen the Canadian economy. This is a key reason why several Canadian immigration programs have been established - to bring the world’s “best and brightest” to Canada to help keep its economy growing. To find out if you may be eligible to apply for a PR Visa to Canada through one of these Canadian immigration programs, click here!
