A recent study has found that middle-aged immigrant men with education in science, technology, engineering or mathematics (STEM) are more likely to start new businesses in Canada. In their study titled ‘Immigrant Entrepreneurs in Canada: Highlights from Recent Studies’ Statistics Canada’s Garnett Picot and Yuri Ostrovsky revealed that immigrants were 41.7 percent more likely to start a new business or be self-employed, compared to their Canada-born counterparts. The study was based on data from the year 2016.
More immigrants launch business in Canada
The report says that, “In 2016, 11.9 per cent of immigrants aged 25 to 69 years owned either a private incorporated company or were primarily self-employed, compared with … 8.4 per cent of … Canadian-born individuals with both Canadian-born parents.” When self-employment is left aside, immigrants are 30 percent more likely to own a privately-incorporated business, which provide jobs for others, compared to Canadian-borns. According to the study, 5.2 percent of the immigrants owned a business with employees in 2016, compared to 4 percent Canadian born in the country.
Immigration pathways for business people
Canada has dedicated pathways for immigrants who want to start business in the country. The Start Up Visa program of Canada allows aspiring immigrants to gain permanent residence in the country by starting a business. The pathway does not require the candidate to have previous management experience. There are also many other immigration pathways that welcome entrepreneurs and investors to the country.
Opportunities for immigrants in Canada
Other than that, there are many immigrants who launch a business a few years after they settle in Canada. Be it job or business opportunities, Canada has a lot to offer for new immigrants who are ready to work hard for realising their dreams. As the country is bouncing back from the impact of the pandemic, Canada has huge demand for immigrant workers. As Canada’s population growth rate is low, the country’s workforce is aging fast and needs young immigrants to replace a huge number of workers who will be retiring in the next few years.