3 Tips for New Immigrants to Start a Business

Starting a business in Canada is easier than you think.

For anyone, the road to entrepreneurship is always full of challenges, and new immigrants who have just moved to Canada sometimes face special difficulties. The following three tips will help you successfully start a business.

1. Build your credit score

Just moving to Canada means that you may not have the credit history required to apply for a corporate loan from the bank. The easy way is to apply for a credit card and use it in a responsible manner.

2. Know local customers

No matter where you start a business, you need to understand your target customers, their shopping preferences and shopping methods. You can learn more about the local market through volunteer organizations, business associations, or religious venues.

3. Start to build a network

For new entrepreneurs, the network is very important. You can meet and establish contacts with people from all walks of life in companies, institutions and associations in your cultural community, and you can also expand your network in local chambers of commerce.

Prepare for success

One last tip: You must prepare sufficient funds to cover your personal expenses before the business has yet to generate profits (based on experience, you should have at least six months of capital reserves).

The Canadian government’s job preparation page provides various resources to assist you in finding a job in your area, conducting qualification assessments, enrolling in language courses, and obtaining new immigrant services.


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