Are you launching a startup in Canada? Congratulations, this trip can be quite enjoyable. Immigrants from all over the world set up companies in Canada for a special reason. The economy machine here is operating in a climate control mode.
Learn how the government of Canada promotes new businesses with money and advice.
What does it take to emigrate to Canada, having, for example, the opportunity to open a branch? What if you just have a quality business plan?
The question of what kind of business to open in Canada is asked by tens and hundreds of thousands of entrepreneurs around the world. This country is a business magnet for good projects. And no wonder: the monarchy provides all-round support to startups.
In Canada, immigrants from more than 100 countries do their business side-by-side. Startups are constantly being created here, helping the economy to constantly progress. Innovation, development, recovery – these are the current agenda.
The Government of Canada constantly stimulates business by promoting companies through local authorities. This attractive fact helps thousands of CIS residents to make the final decision on immigration to Canada. Numerous surveys indicate a very high level of satisfaction of foreigners with moving to this country.
Here the weather conditions are familiar to the residents of the CIS. The territory of Canada is incredibly beautiful: a wealth of colors, a variety of nature and fauna, clean air. After moving to Canada, few people deny themselves the pleasure of going on foot from time to time to enjoy nature.
Both the terrain and the interaction with the state are comfortable. Various organs that help economic development in Canada support existing businesses, potential investors, and local business partners. Projects for the development of entrepreneurship and society are underway aimed at:
- assistance in launching and scaling
- providing marketing research
- export promotion
- liaising with government at any level to strengthen the capabilities of companies
Our experts will help you build long-term relationships with the state of Canada. We provide assistance in immigration and lead startups at all stages of development. A startup visa, subject to sufficient return on your part, is practically guaranteed.
Small Business Start-up Projects
There exists the Northern Business Opportunity Program in Canada. Within the framework of the program, there is an initiative named Small Business Start-up Projects. With its help, the state supports small businesses, whose share in the country is 97.9% of the country’s total business.
NOHFC assists new businesses that intend to start operations in existing and future priority sectors of the economy.
Priority industries for startups in Canada:
- promising technologies
- electronic economy
- health care
- agro-industry and food industry
- timber industry
- mining industry
- transport, aviation, and astronautics
- renewable energy sources
- renewable energy
- creative economy
- tourism
Perhaps your project does not belong to any of the above industries. We will help you prove to the government that you are worthy of funding. The chances of good projects for success are quite high: the point is a competent presentation.
What is eligible for funding?
The state provides funds for:
- capital investment in a leased property
- new or used equipment
- investments in information and communication technologies, including software
- marketing
- training costs
However, this list does not limit the entire range of available compensations. Our experts will help you to correctly submit a project so as to maximize the chances of getting assistance. A well-written business plan with a detailed analysis of the required costs will help convince officials of the need to help you cover these costs.
Unacceptable business types, costs, and activities (include, but not limited to):
- acquisition of an existing company
- wholesalers
- power generation enterprises
- retail trade and consumer services
- working capital
- operating costs
- management and administration costs
- purchase of material and technical resources
- purchase of a car fleet
- purchase or lease of land, improvement of living space
- information and communication service providers
- payment of salaries
- mining
- getting advice
- research
- business plan
- feasibility study
All applications are considered strictly individually. The review takes into account whether there are potentially competitive businesses nearby. The Commission may consider extenuating circumstances that in some cases may lead to a revision of its original requirements.
Financing
Usually, financial assistance for a project does not exceed 50% of the project costs. The maximum investment amount is $200,000. The most relevant and deeply developed projects receive funding.
Also within the Northern Business Opportunity Program, there is a subprogram New Investment Projects
The Northern Business Opportunity Program also includes another program of direct interest to startups, New Investment Projects, as part of the business assistance program in Canada.
The program is designed for competitive businesses not yet represented in Northern Canada. A prerequisite: such a business must create jobs.
Preference is given to projects that demonstrate the following:
- ability to become a magnet for investors
- willingness to blend harmoniously into the local environment
- investment attractiveness
- creation of new jobs
- unification with priority sectors of the economy, such as:
- promising technologies
- agro-industry
- entertainment and creative industries
- digital economy
- timber industry
- medical sciences
- mining industry
- renewable energy
- tourism
- transport, aviation, and astronautics
- water technologies and services
Don’t give up if your business doesn’t fall into this list of categories! We will help you present your project to the Board of Directors of the relevant government agencies in the best possible way. We help to scrupulously work out startup projects so that you can proudly present your business developments.
Directions not relevant to the project
If you decide to open a company in Canada, be careful! Not all businesses are supported by Canada through new business support programs. Ineligible projects, costs, and activities include, but are not limited to:
- acquisition and redemption of existing enterprises
- the business already present in a given territory
- power generation projects
- land
- vehicle fleet (e.g. cars and trucks)
- mineral exploration, mine development, and production costs
- operating costs
- administrative expenses
- strategic plans
- feasibility studies
- business plans
- inventory
- other current operating costs
What does it take to open a business in Canada with the support of the authorities?
If you are going to go to Canada and start a new business there, consider some recommendations:
- the project should not be an aggressive competitor to an already existing similar business
- the project must bring profit to the economy
- your other funding sources should be described
We recommend focusing on job creation. It is your willingness to accept more people into your team that the commission will pay attention to first of all. Employment of citizens in Canada is a well-oiled process: the state in every possible way helps residents in finding work.
Financing
Canada provides the most promising projects with conditional grants or a combination of several conditional grants. (Note: “conditional grant” means a grant provided to cover specific costs, a targeted grant). You may also be eligible for a term loan/incentive term loan for a term of 2 to 10 years. Startup projects are considered separately: each is guaranteed to receive due attention from officials. We can help you submit your project in a way that maximizes your startup’s chances of gaining interest from the Board of Directors of the Commission.
If you are interested in business immigration, be sure to take a close look at the options that are getting opened up thanks to startup assistance programs.
Selection of angel investors for startups
In Canada, there are a number of non-governmental organizations that help entrepreneurs find investors at the risky stage of project start-ups. The mission of such organizations is to improve the flow of investment capital, education on investments, and management expertise in companies with high growth potential.
Small businesses in Canada receive substantial informational, consulting, and coaching assistance. For example, thanks to accurate and comprehensive information from marketing research, you will be able to delicately calculate your market entry.
Interesting fact: according to our data, about 48% of the angel investments received are from technology startups.
Other opportunities to get investment in a startup
Canada has the National Research Council of Canada. This research and administrative organization runs the Industrial Research Assistance Program (NRC IRAP).
Help is received by representatives of small and medium-sized businesses who want to increase the share of innovation in production and bring new ideas to the market.
As part of the program, you may be provided with:
- financing
- consultation
- help in networking
- assistance in hiring young professionals
The program allows you to receive from the state up to $10 million for the development of the project. A prerequisite for fundraising demonstrates your firm’s ability to grow rapidly and substantially.
Your company can apply for assistance if it meets the following conditions:
- you are a registered, profit-driven small or medium-sized business in Canada
- you plan to strive for growth and profit by developing and commercializing innovative, technology-driven new or improved products, services or processes in Canada
- you have 500 or fewer full-time employees
If you are just planning to move to Canada, this program may also suit you. Submit evidence of the success of your new company on time. Successful startups have a lot of chances for long-term support from the state: contact us for help in submitting a project!
Also what about covering the cost of training the team members? Canada-Ontario Job Grant Program is at your service! The cost of training one person is up to $10 thousand.
Or what do you think about getting up to $200 thousand for a project under the Export Marketing Program?
In addition, a business can receive financing for marketing aimed at increasing exports: up to $20 per project.
Are you wondering how to understand the programs and get as much money as possible for business development? At the same time, immigrate to Canada without any hassle getting a startup visa? Or have you already decided to immigrate to Canada, but do not yet know how to approach the issue?
Contact us, we will help!