Business & Financial Services

Canada, ranked second in the world in land area, has an excellent record in the field of economics and business transparency. Although somewhat isolated due to its location, it is the main trading partner of the United States and sophisticated platform for European investors.

Business in Canada

According to a study conducted annually by the DOING JONES team, Canada is firmly established in the top five countries with the most favorable business climate. The simplicity and consistency of the adopted laws, the state’s interest in attracting experienced foreign businessmen have led to the formation of a stable economy and a high level of infrastructure.

A huge number of people are striving to move to Canada and work. The government had to restrict the flow in some way. Those who want to start a business in Canada find a huge number of prospects and positive factors contributing to business success:

  • a huge number of government programs to attract and support foreign investors;
  • economic and financial stability;
  • sufficient level of technology;
  • ideal infrastructure;
  • stable economy;
  • powerful legal system;
  • high level of education;
  • skilled workforce;
  • lack of corruption and bureaucracy.

The vast territory and enormous natural resources have allowed Canada to turn into a country of business immigration, more interesting than the United States.

However, in order to move and run a business, for example, in British Columbia, Canada has recently begun to impose certain requirements on future entrepreneurs. For the most part, they relate to experience and skill level, the size of the start-up capital, the uniqueness of the future business.

Small business in Canada

The simplest form of business in Canada is a sole proprietorship, a small business. Its formation will not require a significant amount of financial resources. The state provides maximum assistance. Low interest rates on loans and a preferential tax system have a beneficial effect on small businesses in Canada in general.

Small business occupies a significant niche in the Canadian economy, being an integral part of it. More than half of the products are manufactured at these enterprises, providing ¾ of job vacancies.