The Rise of Immigrant Entrepreneurs in Canada ??????
Ketan Raval
King Charles III Medal Awardee, Champion of Diversity Awardee, Top 20 Under 40 Awardee, Emerging Exporter Awardee, Rotary Changemaker Awardee, DEI Advocate, Tech Entrepreneur, Not for profit,Social Enterprise
Canada has always been a land of opportunities, and immigrants are playing a bigger role than ever in shaping its economic future. A recent Statistics Canada report highlights a striking fact: the share of private incorporated business owners who are immigrants increased from 25.6% in 2005 to 34.5% in 2022. ??
This trend underscores the critical contributions of immigrant entrepreneurs—driving innovation, creating jobs, and strengthening local economies. However, their journey is far from easy.
?? Key Statistics on Immigrant Entrepreneurship in Canada
? 34.5% of incorporated business owners in Canada are immigrants (up from 25.6% in 2005)
? Immigrants represent over 40% of new business owners in cities like Toronto, Vancouver, and Montreal
? Immigrant-owned businesses are booming in technology, retail, healthcare, and service industries
? They are major job creators, hiring both newcomers and Canadian-born workers
?? Challenges Faced by Immigrant Entrepreneurs
?? Limited Access to Capital: Many struggle with loans due to a lack of Canadian credit history
?? Regulatory Hurdles: Business registration, taxes, and legal compliance can be overwhelming
?? Networking Barriers: Without strong local connections, finding partners and clients is difficult
?? Language & Cultural Differences: Marketing and customer engagement can be challenging
?? How Immigrant Entrepreneurs Overcome These Barriers
?? Leveraging community support from business networks & cultural associations
?? Using digital platforms for e-commerce & global outreach
?? Accessing government programs like BDC’s Newcomer Entrepreneur Loan & Startup Visa
?? Adopting innovative business models to compete in diverse industries
?? Economic Impact: A Win-Win for Canada
?? Job Creation: Immigrant businesses provide employment for thousands of Canadians ?? Global Trade: Strong international ties help expand Canada’s global reach ?? Innovation & Diversity: Unique business ideas contribute to a vibrant, competitive economy
?? What Can Be Done to Support Immigrant Entrepreneurs?
? More accessible funding options tailored for newcomers
? Streamlined regulations with multilingual business support
? Expanded networking and mentorship programs
? Enhanced business training and language courses
Organization like New Brunswick Business Immigrants Association / Association des gens d'affaires immigrants du NB can make a huge difference.
?? Let’s Talk!
Immigrant entrepreneurs are the backbone of Canada's economy, yet they still face significant hurdles. What do you think can be done to better support them? Drop your thoughts in the comments! ??
?? If you support immigrant entrepreneurship, share this post! Let’s celebrate diversity and economic growth in Canada! ??????
Moncton Cares is coming up with a event at "She Cares" Where we will be showcasing 15+ immigrant women lead businesses & there ll be dialogues with immigrant women leaders who has done tremendous job interms of integrating in this society & creating a new life.
Do not forget to book your tickets!!!
Inspiring Entrepreneurs as Rogers Consultant for Businesses | Passionate Trainer | Customer Manager | Transformer | Connector
1 天前Ketan Raval that's true! Hardships often prepare ordinary people for an extraordinary destiny! Immigrant entrepreneurs are real fighters! And you're a great example of it. We should all continue to help and support the new entrepreneurs so that they bring the best of themselves be the face of their communities.
Financial Planner I Helping Indo-Canadian DIY Investors Achieve Financial Wellness.
1 天前This shows that immigrant business owners needs more support similar to the services provided by govt funded immigration agencies. Many entrepreneurs lack much needed information at the beginning.
Co-Founder Spikeage IT Company | IT Consultant
1 天前This post really needed Ketan Raval ! I landed in Moncton in December, an IT entrepreneur looking for help from everyone to support to fulfill basic requirements for starting my own company here and facing exactly the same challenges you mentioned here but I think overcoming these barriers needs to be more elaborate, but overall well done ??
Inspiring Entrepreneurs as Rogers Consultant for Businesses | Passionate Trainer | Customer Manager | Transformer | Connector
1 天前Great post Ketan! Thanks for sharing. It is absolutely evident that the immigrant entrepreneurs are growing. Surely this will continue to grow and I look forward to seeing immigrant entrepreneurs completing larger acquisitions in the coming days!