12 December 2023
Canada’s technological advancements, safety measures, and economic stability position it among the globe’s most promising hubs for business and employment. Although success isn’t assured, Canada’s business realm presents a wealth of diverse opportunities, especially for immigrants.
Initiating a business venture in Canada presents its hurdles, yet recent immigrants can chart a path to prosperity with the right sectors and strategies. Here are six investment opportunities in business that aspiring immigrants can explore to secure a Canada Investment Visa.
Construction Business
The construction industry in Canada is currently undergoing a significant boom. However, there is a pressing need for skilled workers to meet the rising demand for professionals in this field. From plumbers and roofers to carpenters and bricklayers, various construction-related roles are eagerly waiting to be filled.
The nation urgently requires professionals capable of handling diverse ongoing development projects. What makes this sector appealing is not just the attractive pay but also the potential for increased earnings based on experience.
Canada’s construction industry employs an impressive workforce of 1.4 million individuals, whose combined efforts generate a remarkable $141 billion in annual economic output. This substantial contribution amounts to a significant 7.5% of Canada’s Gross Domestic Product (GDP). Presently, several construction-related roles are witnessing soaring demand:
- Asphalt spreader
- Bricklayer
- Carpenter
- Concrete mixer
- Plumber
- Roofer
Agriculture Business
Canada’s economy and job market benefit significantly from the agriculture and agri-food sector. Professionals such as winemakers, truck drivers, farm workers, butchers, and beekeepers are highly sought after. This sector makes a substantial contribution, accounting for an impressive 7.4% of Canada’s GDP, amounting to a staggering $139.3 billion. For immigrants seeking business investment opportunities, this sector proves to be an ideal option. Saskatchewan, Alberta, British Columbia, Ontario, and Manitoba, stand out as notable players in Canada’s agriculture landscape.
Hospitality Business
The hospitality industry in Canada is resilient and actively working towards recovery despite the challenges brought on by the COVID-19 pandemic. There is an increasing need for skilled personnel to cater to the requirements of both local residents and tourists.
The hospitality sector shines as a highly desirable investment opportunity in Canada. Tourism continues to be a significant industry in the country, providing plentiful job prospects. With a flourishing $90 billion tourism sector, this field offers over 1.9 million job openings. Key positions include:
- Bakers
- Hotel Housekeepers
- Professional Chefs or Cooks
- Server Managers
- Waiters and Servers
Automotive Business
The automotive service industry in Canada holds considerable promise. There are openings in sectors such as tow trucking services, automotive service stations, driving schools, mobile car wash services, mobile oil changes, spare parts distribution, and tire stores. These businesses serve Canada’s thriving automobile market and present profitable prospects for immigrants keen on entering the automotive sector.
Education Business
Canada places a high emphasis on education. If you possess expertise in education or can offer educational services, there are avenues to explore. Offering tutoring, language courses, or specialized training can be financially rewarding. The demand for educational services is on the rise, presenting a feasible business opportunity for immigrants.
Investing approximately 5.9% of the GDP (which amounts to $11,854 per student) in education, educators have the opportunity to make a significant difference. Key roles within this sector include:
- Curriculum Developers
- Education Administrators
- Professors
- School/College Tutors
- Teachers
Retail and Wholesale
The retail and wholesale sectors, especially in provinces like Alberta, Saskatchewan, and British Columbia, show considerable potential. The disruptions caused by the COVID-19 pandemic have increased the need for medical products, leading to a requirement for more staff. These sectors collectively contribute a significant $209.7 billion to Canada’s GDP. Key in-demand roles include:
- Bookkeeper/Cashier
- Cleaning & Maintenance Staff
- Human Resources Manager
- Retail Warehouse Worker
- Visual Merchandiser
How to Start a Business in Canada as a Foreigner?
Below are the three primary methods to initiate a business in Canada.
Expand Your Current Business:
Extend your current business operations into Canada by establishing an office or subsidiary. Canadian citizenship or permanent residency isn’t mandatory, but hiring a Canadian might be required.
Start a Business from Abroad:
Commence a Canadian business while residing in another country, leveraging the Investment Canada Act. You’ll need a Canadian company director and a local agent for the incorporation process.
Move to Canada and Start:
A popular approach involves relocating to Canada and launching a business. Various pathways are available for this method.
Launch your Business in Canada with Landmark Immigration
Are you an aspiring entrepreneur looking to build or acquire a business in Canada and establish it as your new home? Trust our experts.
Canada’s mix of economic stability, safety, and diverse prospects provides a solid base for immigrants aiming for business triumph. Despite challenges, strategic planning, skill enhancement, and cultural assimilation can pave the way for immigrant success in industries like construction, hospitality, agriculture, retail, education, and finance.
