Nick Noorani Website

An article in the Globe and Mail last week caught my attention.

www.theglobeandmail.com/report-on-business/economy/how-to-cure-canadas-innovation-woes/article1717433

Particularly interesting is this:
“Integrate immigrants
Funding should go to help immigrants start businesses that are built on trade with their native countries. Canada must find ways to draw on the knowledge of recent business student grads who are immigrants.

Here are the facts:
Immigrants are 30 per cent more likely to start a business or become self-employed than Canadian born people.
1 of every 6 Immigrants is self-employed

As a newcomer, getting any kind of small business loan is very challenging – same old ‘no credit history’ challenge accompanied by the fact that most immigrants do not have knowledge of how to start a business in Canada. Whilst HRSDC funds self employment programs, they are available only to individuals on EI. Lastly, for most immigrants, doing trade with their home country is a no brainer, but we need the government to step in. With large numbers of immigrants and students in Canada, we are sitting on a potential opportunity that must be encouraged.