Toronto: Are you an IT Professional or Consultant? Do you own an IT Firm or want to start a new one? We can suggest you to launch your qualified idea for the world and start your IT Business in Canada.
You may wonder for what reason you should move to Canada to start your IT Business? Then let us explain it comprehensively!
Why Should You Start Your IT Business in Canada?
Canada has always attracted foreign investors to multiply their dollars. The country has a great business ecosystem with a very pleasant social environment. Now let us delve into the major reasons that make Canada one of the preferred business destinations for investors.
- Stable Economy
According to Forbes, Canada is one of the top 10 international business destinations for foreign investors. The country has been able to stand back from the economic crisis in the recent past due to the active intervention of the Bank of Canada. Moreover, a well managed bureaucracy and easy lending practices makes the country more befitting for starting new business ventures. As mentioned earlier, these are the basic reasons that provide Canada a stable and promising business ecosystem for foreign investors with least chances of business shut down.
- Proximity to United States
The United States has always been a great hub for IT professionals. If you are starting your IT Business in Canada, you can have very easy access to the US Market. There are similarities in the social norms of both the countries and there also exists great transport connectivity. Several trade treaties and bilaterals between Canada and the US are going to make it easy for you to flourish your IT business in the US as well from Canada.
- Low Taxation Rates
Taxes are one of the most inevitable and mandatory obligations in terms of payables from a business. The basic federal tax rate in Canada is 10% of the profit you earn from your IT Business in Canada. The net tax rate can climb up to 15% in maximum, depending upon the size and liability of the firm you establish in Canada. Canada is one of the nations in the world to have the lowest corporate income tax rate.
- Quality of Life, Skilled Manpower and Education System
The quality of life in Canada is very pleasing. With a civilized social culture, strong public education system and low levels of bureaucracy and corruption, one can easily get access to skilled and hardworking manpower in Canada. Overall, there is least or literally nothing that can ever discourage any investor or IT professional to start their IT business in Canada.
Challenges to Start IT Business in Canada
Now as you already know that there is availability of resources and manpower in Canada, a major portion of challenges are resolved here only. A good quality of life and low taxation rates makes it easier for foreign investors to focus on their business in Canada. Therefore, when talking about the challenges, there is least from the side of Canada that can be summed up to the following:
- Knowledge of the local laws and regulations of Canada
- Knowledge of Accounting and Auditing Standards
- Understanding the prevalent obligatory framework in terms of civil and commercial practices
- Enforcing Contracts
- Practice trade across the borders, except United States
- Protect yourself from cybercrime attacks
- Dealing with construction permits or registering a property
So, don’t you think that you will be facing these problems in starting a business in any nation that is not your home country?
What are the Solutions in Canada?
If you aggregate all the mentioned challenges, you will figure out that the major reason behind these challenges is that you are a FOREIGNER or NON-RESIDENT in Canada. Therefore, this root-cause analysis leads to one major solution, i.e., “Hire some local agencies”!
Now what should these agencies do for you? Following is the list of actions that these agencies will help you in successfully starting, transferring or developing your IT Business in Canada –
- Canadian Agencies will help you throughout the legal process involved in the relocation or opening a branch or subsidiary of your existing business in Canada;
- Local agencies will also help you launching your new firm or register your Startup in Canada;
- Consulting Agencies in Canada will help you with the acquisitions that are mandatory to run your IT Business in Canada. Additionally, they will connect you with accelerators, if you register a Startup in Canada.
- Expect to get the best office, marketing and sales advisory support services with excellent guidance in business development and client relationship;
- Local Canadian Agencies also offer value-added services like back office support, finance, accounting and human resource management;
- Get immigration assistance and establish connections with reliable corporate lawyers for your IT Business in Canada, when you hire local agencies in Canada.
As a foreigner, or non-resident in Canada, you may face many other challenges that can hinder you from pursuing your passion of registering your IT Consulting Firm in Canada. On deep analysis, you will be able to figure out that the leading cause has only one solution – A Canadian Acquaintance!
If you have a corporate acquaintance in Canada with expertise in solving all the prevailing challenges, doing business is going to be great fun for you. Challenges never end after starting your business, rather, it grows exponentially if you wish to deal with them all by yourself. Share your workload with premium Canadian firms by booking a free 30-minutes consultation. You will surely be convinced that it is pretty easy to register and continue your business in Canada. Alternatively, you may email us your requirements in details at [email protected], and some specialist from our team will get back to you at the earliest.