Canada is considered a “Mosaic” where different cultures, languages, and religions can peacefully coexist. It is one of the least corrupt countries globally and has an excellent ranking amongst developed countries and these are some of the reasons why it is getting more attention from Indian entrepreneurs and investors.
Here are 5 points to keep in mind while starting a business in Canada.
1. The Canadian economy is services and export-oriented. Mining resources, Aviation, and automobiles usually are the domain of corporate houses and governments.
2. Canadian Companies have an advantage of working with the USA and Mexican companies. Depending on your investment capacity, ambition, and growth plans, a business idea with Canadian, American, and Mexican markets in mind is a good starting point.
3. ‘Made in Canada’ label carries a premium and considerable goodwill and hence having a business plan which is export-oriented will surely help.
4. Identifying the right province to invest. All provinces offer world-class infrastructure but business-related costs are much less in small provinces. Another bonus is that smaller provinces also provide additional incentives for new enterprises.
5. Having an entrepreneurial or business background is not a necessity to start a business. You can be a young man with no experience or a senior executive with considerable experience. In either case, you are still eligible to have a Canadian Business.
With these points in mind and depending on your objective, you are all set to starting a business in Canada.
Y-Axis can help you set up a business in Canada. Please contact us now!
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