Family businesses in Canada make up about two-thirds of the country’s private-sector enterprises. Far from being limited to “mom-and-pop” corner stores, they play a significant role in the economy, contributing to nearly half of Canada’s GDP and employment.
Immigration is a key element in Canada’s entrepreneurial success story. According to Immigration, Refugees, and Citizenship Canada (IRCC), 32% of business owners come from immigration. This percentage reflects the significant contributions of newcomers in the economy, many of whom establish family-run ventures. Recent policy developments, such as a three-year open work permit for entrepreneurs arriving through the Permanent Residence program, aim to further attract innovation by giving residency applicants more time to work on the early stages of their ventures.
What is Family Entrepreneurship?
Family entrepreneurships are businesses created, owned, and operated by two or more family members. These enterprises are usually born from shared values, trust, and a long-term vision, which makes them uniquely resilient and sustainable as they are often designed to be passed down through generations. Family businesses blend personal and professional, which makes for a unique synergy.
While family-run businesses may start as small ventures, many grow into significant contributors to local and national economies. Hakim Optical or Shopify are such examples of success stories born from immigration, but there are many others. What sets family businesses apart is their focus on legacy and continuity, as well as an experience of hardship and the ability to pool resources and skills from within the family unit.
Why Canada is Ideal for Family Entrepreneurs
Canada’s policies, infrastructure, and cultural values make it an attractive destination for family entrepreneurs. It comes as no surprise: the country strongly supports small businesses with tax incentives, grants, and easy access to mentorship programs as well as numerous incubators and accelerators—all valuable resources.
Beyond business reasons, Canada’s social environment makes it appealing to families. The country’s universal healthcare system, high-quality education and multicultural communities provide an attractive environment for a family. This combination of family-friendly and economic opportunities creates a unique and comfortable soil wherein family enterprises can thrive.
Community and Immigration
There are many reasons immigrant entrepreneurs play a vital role in Canada’s family business ecosystem. Not only do they bring new skills, diversity and cultural perspectives, but the pooling of resources and networks that naturally happens with family businesses is capital in building sustainable ventures. This fresh approach aligns with Canada’s interest towards economic growth, job creation, and community development.
The Start-up Visa Program (SUV) aims to attract innovative entrepreneurs to Canada, including those with family-driven business ideas. By offering access to permanent residence, and with the help of immigration professionals, these initiatives encourage entrepreneurial families to establish roots and contribute to the Canadian economy. While the program was not exclusively designed for family businesses, its emphasis on innovation and focus on the longer term resonates strongly with the values of family entrepreneurship.
Challenges and Opportunities for Family Entrepreneurs
Relocating to a new country comes with unique challenges. Entrepreneurs must navigate unfamiliar regulatory environments, cultural—and sometimes linguistic—differences, and the general and usual logistical complexities of moving away. Family-run ventures may even add another level of difficulty by having to balance personal and professional relationships.
While facing challenges, family entrepreneurs in Canada will discover a wealth of support systems. From government resources to dynamic networks in the private sector, opportunities to get help to thrive are not lacking. Access to business incubators, mentorship programs and funding sources can help families overcome obstacles and relocate successfully and pain-free. Moreover, the collaborative nature of family businesses often gives them a competitive edge in adapting to new environments and seizing opportunities.
Building a Legacy in Canada
Beyond a simple business model, family entrepreneurship is a way to build a lasting legacy. In Canada, family businesses not only contribute to economic growth and job creation but also weave the country’s cultural and social fabric by supporting communities.
Entrepreneurship offers immigrant families a unique opportunity to establish roots and achieve long-term success in Canada. Startup Visa Services works with entrepreneurs from around the globe to help them bring their start-ups to Canada. Our services include business validation, business plan writing, IP protection, projections, marketing, training, websites, interview coaching, market research, post-landing support and peer review defence. Our main service is getting our clients the Letter of Support in the shortest possible time.
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