Did you know that immigrants face most of the same barriers to starting a business as the Canadian-born population, and that only a handful of supports focus on immigrant entrepreneurs specifically in all of Ontario?
Immigrants have become a major source of job creation in this country through both investments and business formation. Immigrants have higher rates of self-employment in comparison to the Canadian-born population: in the late 2000’s, about 19% of immigrants were self-employed compared with 15% of Canadian-born individuals. However, self-employed immigrants are more highly concentrated in the cohorts arriving before 1991, and they are less concentrated among recent immigrants.
Entrepreneurship offers an important route to economic integration for new immigrants in all immigration categories. Over the past decade, an incredible 98.5% of new jobs in Canada were created by firms with under 100 employees, and almost 60% were created by firms with fewer than 5 employees.
Starting a business is challenging, and failure rates are high, for both immigrants and the Canadian-born.
Entrepreneurs in New York
The term entrepreneur is a loanword from French, and is commonly used to describe an individual who organizes and operates a business or businesses, taking on financial risk to do so.