Connecting Newcomer Entrepreneurs to Relevant Services 

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One major challenge of starting a business in a new country is the absence of relevant contacts or connections.

LIP

There are different types of help and guidance that newcomers could need to navigate a complex journey of entrepreneurship. They could need help in the following areas: 

 

1. Build a credit history: Credit history is crucial to obtaining funds, and limited credit history can impact your access to financing. Unfortunately, the banking records from their home country are not readily available to Canadian financial institutions. One of the easiest ways to start developing a Canadian credit record is to apply for a Canadian credit card and use it wisely.

2. Develop your network: One major challenge of starting a business in a new country is the absence of relevant contacts or connections. Some of the ways to start building their network are: 

  • Look for an association to join. 

  • Explore networking events to attend; Eventbrite is a good site to get started. 

  • Identify potential clients and ask them for feedback on ideas. The people they meet will be able to provide market intelligence, and they may also become close friends and business mentors. 

  • Stay up-to-date with organizations supporting newcomer entrepreneurs on LinkedIn. Follow and learn about companies like BDC and Scale Without Borders for actionable resources. 

  • Don’t forget that they can leverage their supplier/producer networks in their home country. This is an advantage they have as a newcomer.

3. Create a business plan: Creating a business plan is an essential step for anyone wanting to start a business. The research process will provide the newcomer with in-depth knowledge of a market that might be unfamiliar. They can also clarify their strategy and vision at this stage and pivot where appropriate. The financial planning and projections they develop in this process will also aid in securing financing. Here is a business plan template to get started.  

4. Research government support: The Government of Canada has several websites to assist newcomers in finding out more about starting a business in Canada. If you are in the planning process for immigrating to Canada, information about applying for a Start-up Visa will be useful. 

With these initial steps, you’ll be in good shape to get started on your entrepreneurial journey in Canada. 

 

Guides and Resources

  • Canada Business Ontario: This website guides you through the basic requirements for starting a business in Ontario. You can also find resources and organizations that offer services and programs for newcomers to Canada. 
  • Settlement.org: Settlement.org contains articles, guides and resources to help you start a business in Canada. 
  • MaRS Discovery District: MaRS helps entrepreneurs launch and grow their start-up ventures. They offer resources, financial services, facilities and tips from established entrepreneurs to help you start and grow your business. 
  • Job Skills: View this self-employment pathway to explore the idea of setting up a small business in Canada. 
  • Hire Immigrants: They provide services and resources for Newcomer Entrepreneurs. 

 

Programs and Support Services 

  • Entrepreneurship Connections: Entrepreneurship Connections helps newcomers who plan to start a business in Canada. This program will assist you with setting up a successful small business in the Canadian market. 
  • New Canadians’ Immigrant Café: The Immigrant Café is a community of immigrant entrepreneurs at all levels of experience and expertise. It is a great way for newcomers to make new business connections and to get the know-how and inspiration to venture out on their own. 
  • Business Development Bank of Canada (BDC): BDC offers loans and services exclusively for businesses. You can also find articles and resources on how to start or grow your business. 
  • Connect Legal: Legal advice for immigrants: Connect Legal helps immigrants succeed by providing commercial legal education and assistance to immigrant entrepreneurs. 
  • Learning Enrichment Foundation’s Emerging Entrepreneurs program: This program supports immigrants looking to start a business, or working to grow their small home-based business. The focus is on connecting entrepreneurs with general business information and on learning key business language, with a focus on transferrable skills.’ 
  • Futurpreneur Canada: Futurpreneur offers free business planning resources, financing and mentoring for entrepreneurs (18-39 years), with tailored support for newcomers to Canada. 

 

Further Reading

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