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Canada, 2nd best country in the world to start a business


Canada, 2nd best country in the world to start a business

Canada is not only the 2nd largest country in the world but also a top destination for French people who want to emigrate and set up their business.

Canada encourages business creation

According to the World Bank's 2018 Doing Business ranking, Canada is the second-best country to start a business, after New Zealand.

Canada, with a GDP of C $ 2.144 billion, is the 10th largest economic power in the world. This federal-state is known for its public policies favorable to the creation of companies, a boon for foreign investors. With 103,967 French nationals living in Canada as of December 31, 2017, against 83,295 in 2013, many have moved there to create their company.

The Canadian economy is booming, hence its appeal to investors and entrepreneurs. According to the Organization for Economic Co-operation and Development (OECD), growth of 2.3% is expected this year in Canada and for 42 years, the unemployment rate has reached its lowest level at 5.7%.

$ 800 billion is the amount of foreign investment in Canada. And with the objective of increasing foreign direct investment (FDI), a new organization was created in early March, "Investing in Canada", aimed at encouraging global companies to settle in this North American country through simplified procedures.

Localized economic attractiveness for business creation

The good Canadian economy is undeniable. However, the dynamism varies by region and province

Ontario, Alberta, British Columbia, and Quebec concentrate the majority of business start-ups in Canada

Ontario (55,800 newly created businesses), Alberta (25,570), British Columbia (24,940), Quebec (22,480), Saskatchewan, Manitoba, Nova Scotia, New Brunswick, and Newfoundland and Labrador are proving to be more dynamic than Prince Edward Island, the Northwest Territories, and the Yukon, as well as Nunavut where the opportunities are less important.

Many Canadian institutions facilitate the expatriation of entrepreneurs

Philippe Couillard, the Quebec Prime Minister confided to Les Echos in March 2018, during his official visit to France for the 20th Alternate Meeting of French and Quebec Prime Ministers, the opening of Canada to the French wishing to create jobs in Quebec. He also mentioned the importance of local partnerships in the process of setting up a business for foreigners, especially French people.

To facilitate the departure of entrepreneurs from France to Canada and vice versa, private and public institutions exist in both countries. As a result, business creators benefit from support for the construction of their projects.

Mentoring for entrepreneurs (young or large companies) is another networking opportunity between France and Canada that facilitates exchanges between peers.