A recent report from the Organization for Economic Cooperation and Development (OECD) ranks Canada as the most sought-after country for immigrant entrepreneurs.
The OECD comprises 24 member countries, including the US, France, Australia, the UK, and Sweden. These factors are crucial for the creation of a supportive environment for innovative businesses to grow and prosper:
- Development of entrepreneurial ecosystems
- Stimulation of research and innovation
- Enabling entrepreneurs to access funding and human capital
The ranking system by the OECD leverages the Indicators of Talent Attractiveness essential to encourage immigrant start-up founders to set up businesses in a particular country. Immigration policies play a central role in attracting immigrant entrepreneurs. The Indicators of Talent Attractiveness also include the level of digitalization, connectivity, and market conditions.
The OECD ranking report for the top destination countries for international entrepreneurs revealed Canada as the most attractive country, scoring among the top 25 percent across all indicators. Canada’s entrepreneur-friendly immigration policy helps immigrant start-up founders become permanent residents. Canada promises excellent living conditions besides a welcoming society.
A broad spectrum of entrepreneur immigration pathways allowing permanent residence makes Canada the top country for setting up a new business by settling for a good life. Canada targets innovative business owners to improve its economy and labor market.
Several IRCC-designated business incubator organizations, venture capital funds, and investor groups are ready to support and take part in the Start-up visa program. Prospective entrepreneurs can leverage these organizations to get the minimum investment to launch their start-ups in Canada.