Despite the rising number of immigrants arriving in Canada, newcomers still face countless barriers to employment. It’s no surprise then that many newcomers turn to self-employment and entrepreneurship after arrival, with higher rates than Canadian-born people.
According to Statistics Canada, immigrants are more likely to be business owners (5.8% vs. 4.8% for Canadian-born) and self-employed (10.8% vs. 7.5% for Canadian-born). In additional research from Statistics Canada released in April 2019, a decade-long study found that immigrant-owned firms create more net jobs and have higher growth than businesses with owners born in Canada.
But, when starting off, many immigrants lack information on the local context of doing business; they are also missing established networks and a credit history. That’s why immigrant entrepreneurs need additional support to plan, launch and grow their business.
The fourth annual DIVERSEcity Entrepreneur & Small Business Fair, held during Small Business Week, on Wednesday, October 23, 5–8 pm, at Surrey City Hall, was a great starting point for not only newcomers, but any other emerging or new entrepreneur looking for information and inspiration to succeed.