Factors that make Canada an attractive destination for startups - Live In Canada
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Factors that make Canada an attractive destination for startups

Canada

Many people know Canada for its vast lands, but one of the lesser-known facts about the country is that it offers greater support for startups and entrepreneurs. It is for this reason that many popular businesses like Shopify and Slack were born in Canada.

Canada has an excellent record of helping startups flourish and go international. The government of Canada has made pro startup policies and regulations that have strengthened the startup ecosystem in the country. It is offering aid to smaller businesses, and most startups are not required to pay back many of those aids. These perks have attracted many entrepreneurs with innovative business ideas to Canada from around the world.

The world-class universities of Canada like The University of Waterloo provide further support for startups. Given the difference in the rate of the Canadian dollar against the US dollar, you can access a highly talented and skilled workforce to take your startup to new heights at a considerably lesser capital.

When it comes to interest rates in the country, it is lower for businesses. The economy is growing at a fast pace, with the Canadian financial institutions having robust balance sheets. From 2003 to 2012, Canada topped all G7 countries regarding economic development.

Joblessness is low in Canada, and the inflation rate is stable. And the tax rate in Canada is slightly lower than all other G7 countries. The government of Canada also offers a tax incentive for organizations involved in research and development in the country. These factors make Canada a favorite place for people who want to launch their businesses here.

If you have an innovative business idea that can have a far-reaching and positive impact on people’s lives, you should consider Canada as the Launchpad for your idea. The good news is that Canada offers easy and flexibility immigration procedures for entrepreneurs with excellent business ideas.

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