Ahead of our webinar on doing business in Canada, our local expert takes a look at just a few of the reasons Canada is calling to the world.
A quick glance at the Canadian Trade Commissioner’s Service briefings and you’ll see they answer the question “Why invest in Canada?” with a simple equation: Innovation + Stability = Profitability.
Seems pretty enticing, right?
Canada is ranked No 2 for starting a business on the World Bank’s Ease of Doing Business In rankings, and is No 16 overall (thanks mainly to lower rankings in dealing with construction permits and getting electricity). It ranks well for getting credit, protecting minority investors and paying taxes, all of which are essential to operating a business across borders.
Beyond the pure statistical, though, why should you consider Canada for your next frontier? With thanks to the Canadian Trade Commissioner, here’s just a few reasons.
Canada led all G7 countries in economic growth over the past decade, according to the World Bank, and it also leads the G7 with the lowest overall tax rate on new business investment. The World Economic Forum has declared the Canadian banking system to be the soundest in the world for seven years running – that is, throughout the Global Financial Crisis – which, when added to the political stability enjoyed by the giant country north of Niagara Falls, gives a pretty compelling argument for investment consideration.
Standard of living
One of the most multicultural countries in the world, Canada boasts world-class universities, a universal health care system and clean and friendly cities. It has the second-highest standard of living in the G20 as measured by GDP per capital. Half of its working age population has tertiary-level education, making it among the most highly educated workforces in the OECD.
With one of the lowest business costs in the G7 for R&D-intensive sectors – and a 15.8% cost advantage of the US – Canada’s business environment is strong. Plus, once CETA comes into force, foreign investors in Canada will have assured preferential access to both NAFTA and the EU, a vibrant market with a combined GDP of US$35 trillion, or nearly one-half of the world’s output of goods and services.
As for industries? Consider this: Canada is the world’s fifth-largest energy producer, sixth-largest oil producer and third-largest natural gas producer. Then there’s the mining: the world’s largest source of many minerals including nickel, zinc and uranium.
To find out more about doing business in Canada, join our webinar on 28 January at 0800 EST. Experts from TMF Group and Cushman & Wakefield will cover real estate purchases, investments and business immigration in Canada, as well as up-to-the-minute insights on challenges and opportunities. Register to get full details.
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