Are you a non-Canadian interested in doing business in Canada? Canada's open for business, and welcomes foreign investment and business immigrants.
Why do business in Canada? Why not? Operating a business in Canada is better for your bottom line than operating your business in the United States, and thanks to NAFTA (the North American Trade Agreement), you'll still have access to the entire North American market.
Currently, according to a detailed 10-month study of international business costs in 11 countries in North America, Europe and Asia-Pacific by KMPG, Canada's business costs are the second-lowest recorded in the study, and 5 percent lower than in the USA.
Canada leads all G7 countries in ease of doing business, according to the 2009 IMD World Competitiveness Yearbook. Also, the Economic Intelligence Unit forecasts Canada as the #1 place to do business in the G7 for the next five years (Invest in Canada).
Among the competitive advantages you can enjoy doing business in Canada, the Invest in Canada website highlights:
- Canada's stability – Canada has "banks you can bank on" and, according to Dun & Bradstreet's Global Risk Indicator, Canada is considered one of the world's safest countries to invest.
- Canada's highly-skilled work force – Canada has the most highly-educated population in the OECD and "attracts the best and brightest from every corner of the globe".
- Canada's industry strengths – "Cutting-edge American producers recognize Canadian leadership in industries such as fibre optics, aerospace and biopharmaceuticals." The country is also a world leader in fields as diverse as medical devices, digital gaming, and agri-food.
- Canada's strategic location – Canada is the "crossroads between the North American marketplace and the booming economies of Asia".
- Canada's lifestyle advantage – Clean, calm and spectacular sums it up. It's a stellar place to work, live and raise a family.
And to top off the list of advantages to doing business in Canada, Canada offers businesses low tax rates. Today, Canada has the lowest payroll taxes among the G7 countries and by 2012 Canada's corporate income tax rate will fall from 18 percent in 2010 to 15 percent in 2012 - less than half of the U.S. rate (Invest in Canada).
Perhaps one of the best reasons to consider doing business in Canada, though, is that Canada welcomes business investment. Continue on to the next page to read about the Canadian government's special services for foreign investors and sources of information on Canadian industries.
