Comparing Entrepreneurship and Startups in Canada: Which Path is Better for Immigration?

Comparing entrepreneurship and startups in Canada is one of the most important steps to take before establishing a new business in this country. The goal of entrepreneurship and launching a new startup is to create a new business in Canada; however, you should note that these two programs have different perspectives and approaches to starting a new business. More precisely, the goal of launching a startup in Canada is to create a new business based on an innovative and creative business idea that leads to fundamental changes in the market. In contrast, the entrepreneurship program aims to create businesses that have previously existed in the country. Starting a startup and obtaining a Canadian startup visa can be seen as a suitable opportunity for obtaining permanent residency in this country. In this article from ExpertUP, we will compare entrepreneurship and startups in Canada and discuss the advantages of each.

Introduction to Entrepreneurship and Startups in Canada

Starting a startup and entrepreneurship in Canada can be considered two separate programs of the country’s immigration department designed and implemented for Canada’s economic growth. However, it is important to note that each of these immigration programs has different features and requires different conditions. Canada, by creating the necessary infrastructure to host new businesses, has provided a suitable opportunity for entrepreneurs worldwide to establish their businesses in this country and receive permission to stay and reside there. Entrepreneurship and startups in Canada can be considered two main paths for creating businesses and investing in Canada. In the following, we will introduce and compare entrepreneurship and startups in Canada.

Startup Canada: In the Canadian startup immigration program, you must present an innovative and new business idea. If it is approved and supported by the Canadian government, you can proceed with implementing and launching your business in the country.

Entrepreneurship: Entrepreneurship is another Canadian immigration program through which you can invest and establish your business in Canada.

Comparing Entrepreneurship and Startups in Canada: What Are the Differences?

Entrepreneurship and launching a startup in Canada have major differences. By understanding these differences, you can choose the best immigration path and establish your business in this developed country in the shortest possible time. Comparing entrepreneurship and startups in Canada covers many aspects. For example, for launching a new startup, you do not need initial capital; however, entrepreneurship in Canada requires significant initial capital. In the following, we will compare entrepreneurship and startups in Canada and examine the differences between these two immigration programs.

Business Management Experience

Having relevant business management experience is very important in the Canadian entrepreneurship immigration program. In fact, to establish a new branch of your business in Canada, you must have sufficient knowledge, skills, and experience in that field to increase the likelihood of your new business being profitable in Canada. On the other hand, for launching a startup in Canada, you only need to present an innovative and creative business idea; in this immigration method, there is no need for management experience and background.

Investment Amount

The amount of investment in this country is one of the most important factors examined in comparing entrepreneurship and startups in Canada. It is good to know that launching a startup in Canada does not require initial capital; you only need to have financial stability. In contrast, for entrepreneurship and creating a new business in Canada, you need to invest a significant amount besides having financial stability. The minimum initial capital required for entrepreneurship is 150,000 CAD. Additionally, you must have a minimum net worth of 300,000 CAD. In the startup immigration program, this amount is about 13,000 CAD per person. Other differences between entrepreneurship and starting a startup in Canada include:

• Support Letter: The Canadian startup program includes a support letter from one of the government-approved organizations. In contrast, entrepreneurship does not involve a support letter, and the investment is the responsibility of the applicant.
• Permanent Residency: The applicant in the entrepreneurship program will receive a one-year temporary residency in Canada; however, after establishing and getting the business approved by the government, they can apply for permanent residency. On the other hand, launching a startup in Canada will grant the applicant permanent residency in the country.

Benefits of Launching a Startup and Entrepreneurship in Canada

In this part of comparing entrepreneurship and startups in Canada, we will introduce and examine the benefits of both immigration programs. These two immigration programs have distinct differences, but each also has unique benefits, making them smart choices for different individuals. Some of the most important benefits of launching a startup in Canada include:

• Ability to implement a business idea without the need for initial capital
• Ability to obtain permanent residency in Canada for the applicant and their family members
• Access to financial support
• Free insurance benefits
• Free education and insurance for children
• and more…

The above-mentioned points are just some of the numerous benefits of launching a startup in Canada. However, in comparing entrepreneurship and startups in Canada, it is also worth mentioning the benefits of the entrepreneurship immigration program. Some of the most important benefits of entrepreneurship in Canada include:

• Ability to establish branches in Canada and expand the business
• No need for high-level educational degrees
• Ability to obtain temporary residency in Canada and convert it to permanent residency
• Enjoying the citizenship rights of this country
• Ability to invest in Canada’s dynamic economy and grow your capital
• and more…

Final Words

In this article from ExpertUP, we compared entrepreneurship and startups in Canada and outlined the differences between these two immigration programs. If you intend to establish a new business in this developed country, it is better to first get acquainted with the entrepreneurship and startup immigration programs. Understanding the features and differences of these two immigration programs can lead to a smart and beneficial choice for you. We hope this article has been useful for you. Please share your comments with us in the comment section. Also, if you have a creative business idea in mind or intend to expand your business and establish a new branch in Canada, we recommend contacting the experts at ExpertUP and benefiting from specialized and free consultation in this field.