The Start-Up Visa Program’s Impact in Canada
With much of the attention around immigration in North America centering on the United States, it can be easy to overlook the remarkable impact immigration has had on growing Canada’s economy in recent years.
With immigrants making up 75 percent of Canada’s population growth and a shrinking ratio of workers to retirees, Canada is investing heavily in immigration to drive its economy forward and meet the demands and needs of its changing population.
One way Canada is supporting its highest immigration levels in recent history is through the Start-Up Visa Program.[1]
What Does the Start-up Visa Program Do?
Through the Start-Up Visa Program, Canada has also benefited from immigrant entrepreneurs who have the skills and potential to build businesses in the North American country. As of May 2019, more than 650 entrepreneurs and their families have launched over 200 businesses in Canada. These enterprises are contributing to Canada’s status as an innovator. They are also creating jobs for Canadian citizens and residents and helping the nation compete on the global stage.[1]
The endeavor to invest in immigration has proved to be incredibly successful as well, as it was first introduced as a pilot program before being made permanent in 2018. Canada has also introduced several other pilot programs to promote entrepreneurship and innovation to meet its unique labor needs.
Who Benefits?
Certainly, the immigrant entrepreneurs who are coming to Canada and starting businesses benefit from the assistance they receive while making the life-altering move and getting their enterprise off of the ground.
But the country, as a whole, benefits as well, with the creation of many new jobs for Canadian citizens and residents adding fuel to the national economy. Furthermore, the program is helping Canada become more of a leader in innovation and the global economy.
What Does It Mean?
The Start-Up Visa Program is one example of many that highlights Canada’s increasing commitment to, and reliance on, immigration to drive its economy forward and become a more significant player on the global stage.
With changing population characteristics, the country has recognized the opportunity and need to invest in immigration to promote innovation and growth while providing more opportunities and resources to create jobs for Canadians.
How Can I Find Out More?
Visa Business Plans can help entrepreneurs by providing solid business plans required for Canada’s Start-Up Visa Program and other Canadian business immigration visas. Contact us today and get closer to living and working in Canada.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in 4 different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
[1] https://www.canada.ca/en/immigration-refugees-citizenship/news/infographics/immigration-economic-growth.html
