As per a Statistics Canada report, the newly arriving immigrants to Canada are highly likely than locals of Canada or Canadian citizens to buy or set up their businesses when they immigrate to Canada as permanent residents.
According to Statistics Canada chief Douwere Grekou and analyst Bassirou Gueye in their report, Who Were the Men and Women Entering Business Ownership in Canada in 2016? They have been quoted as stating, “Recent immigrants were more likely to enter business ownership than Canadian-born individuals. It is in line with the literature, which shows that immigrants in Canada are keen on becoming business owners”.
Taken out on Monday, this report was backed and funded by the Women and Gender Equality Canada department of the Canadian region of Ottawa. For this, they reviewed 24 million people in Canada to make up their minds about what kind of individuals became owners of their own business in 2016 and why they chose to either purchase a business or set up their own business in Canada.
Prepared by Canada’s statistical services agency, the report highlights that only these Canadian immigrants are highly believed to become business owners than those born and brought up in Canada. It was a large majority of men than women who were more likely to set up their own business via Canadian immigration.
Also, the report states that “Although almost the same factors influenced women and men, statistically-significant gender differences were found for all variables and showed that men tended to enter business ownership proportionately more than women.”
Another finding of the study revealed that a person losing their current job was a strong reason behind many of them starting their own business. Men and women who were either married or in a common-law relationship were more inclined to start something on their own than single ones.
However, it is to be noted by the authors of the report is the fact that chances of newly arriving Canadian immigrants to start businesses was a pivotal discovery. It could be the turning point when framing the future Canadian immigration policies as the country is ready to jump in the economic recovery bandwagon post-COVID-19 global pandemic.
This is why the Canada Start-up visa program is an excellent and wise choice for business immigrants seeking permanent residence in Canada and acts as an influential global platform for budding entrepreneurs looking to start something of their own in Canada.