Let’s start off with a few facts about Canada:
Canada is a G-7 country and the world’s 10th largest economy based on it’s GDP of US$1.74 trillion and $46,200 per capita GDP in 2019.
Canada is the second largest country in the world after Russia with 9.985 million km² with a population of 38 million.
Canada is the third richest nation on earth in natural resources.
The nation is home to the world’s third largest confirmed petroleum reserves, as well as industry minerals, and is rich in minerals like gypsum, limestone, rock salt and potash, coal, and uranium. It’s also the third largest exporter of timber in the world.
World Economic Forum ranks Canada as the 2nd highest quality of life in the world. Quebec City, Calgary, Montreal, Toronto and Vancouver rank among the world’s top destinations to live.
Canada has been named the third best country in the world for education. This is according to the latest study conducted by US News & World Report in partnership with Y&R’s BAV and Wharton. The University of Toronto, UBC and McGill are the top three Canadian universities on the 2019 World University Rankings, published by Times Higher Education.
Canada is a dream destination for any business owner to either set up a new business or expand their existing business. Besides Canadian market, it has huge export opportunities to the south, i.e. USA.
99.8% of Canadian businesses are small and medium-sized companies with less than 500 employees, employing more than 8.3 million people. Small businesses contribute almost 38.4% of Canada’s Gross Domestic Product (GDP).
Canada celebrates entrepreneurship, allowing start-ups to flourish, particularly immigrant and women-owned businesses, which makes up a third of Canada’s small to medium-sized businesses.
Some sectors to consider for business opportunities in Canada:
- Agriculture
Agricultural and agri-food sector is one of Canada’s largest and most lucrative industries, accounting for $49 billion of Canada’s GDP.
Popular provinces for agricultural business opportunities in Canada for immigrants include Ontario, Saskatchewan, Alberta, Manitoba and British Columbia.
- Accommodation and Food Services
Canada’s accommodation and food services is a booming sector, There are significant opportunities to set up and grow the business in these areas.
- Wholesale & Retail
Wholesale and retail areas such as general merchandise, gasoline stations as well as motor vehicle and parts dealerships offer great opportunities. There has also been a huge surge in the need for medical supplies as the Coronavirus pandemic continues to increase the demand worldwide.
- Construction
Construction has been a steady investment for business investors and those considering business immigration to Canada. With the increase of new development projects nationwide comes the need for more construction companies to help carry the load and meet certain provincial and territory needs in Canada.
- Professional, Scientific and Technical Services
Canada’s professional, scientific and technical sectors are a steady source of revenue and a great option for those looking for lucrative business investments or business immigration options to Canada.
These sectors are growing at such a rate that certain provinces such as British Columbia and Ontario have dedicated immigration streams specifically for tech professionals to help fill the demand for an ever-growing market.