Employment vs Own Business

[jmora]

Hi there,

Been thinking for a few days what would be the better option for a newly landed PR in Canada. Employment or Own business?
I searched the net and found out lot of businesses for sale between CAD 50K and 100K that give you a respectable income. This of course, assuming that you have that amount of capital to start with.

So, the question is, if you had that amount of money, would you buy an existing running business and be your own boss or look for a job?
What are the pros and cons of each option?
Seniors or people who actually went through this in Canada your input is highly appreciated.

 

[PMM]

Hi

Hi there,

Been thinking for a few days what would be the better option for a newly landed PR in Canada. Employment or Own business?
I searched the net and found out lot of businesses for sale between CAD 50K and 100K that give you a respectable income. This of course, assuming that you have that amount of capital to start with.

So, the question is, if you had that amount of money, would you buy an existing running business and be your own boss or look for a job?
What are the pros and cons of each option?
Seniors or people who actually went through this in Canada your input is highly appreciated.

If I was a new immigrant, I would work for a while to see how Canadian business practices work, before investing in and running my own business. With no track record in Canada, you would find it extremely difficult to obtain financing or bank loans.

 

[jmora]

Hi

If I was a new immigrant, I would work for a while to see how Canadian business practices work, before investing in and running my own business. With no track record in Canada, you would find it extremely difficult to obtain financing or bank loans.

But if you had a capital to start with, you won't need financing...

 

[thebeast184]

jmora,

Can you share which website you are using to look for businesses? Also, I have a lot of experience working in the US do you think its relevant to being able to go on my own business. I mean in comparison to Canadian experience.

Thanks,
Rod

 

[jmora]

jmora,

Can you share which website you are using to look for businesses? Also, I have a lot of experience working in the US do you think its relevant to being able to go on my own business. I mean in comparison to Canadian experience.

Thanks,
Rod

Here are some of the sites I came across. As to the latter part of your question, I am afraid I am not qualified to answer as I don't have in-depth knowledge of the 2 markets but judging by the size, US has a much bigger and more competitive market than Canada. There will also be differences in industries. Canada's main are manufacturing and agriculture.

http://www.businesssellcanada.com/
http://canada.businessesforsale.com/
http://www.bizmatch.ca/

 

[thebeast184]

Great sites +1 ;D

Rod

Here are some of the sites I came across. As to the latter part of your question, I am afraid I am not qualified to answer as I don't have in-depth knowledge of the 2 markets but judging by the size, US has a much bigger and more competitive market than Canada. There will also be differences in industries. Canada's main are manufacturing and agriculture.

http://www.businesssellcanada.com/
http://canada.businessesforsale.com/
http://www.bizmatch.ca/

 

[alexchristi]

jmora,

Can you share which website you are using to look for businesses? Also, I have a lot of experience working in the US do you think its relevant to being able to go on my own business. I mean in comparison to Canadian experience.

Thanks,
Rod

In my opinion US experience counts when CIC is evaluating the files.
The two systems are very much alike. 8)

 

[listener]

In my opinion US experience counts when CIC is evaluating the files.
The two systems are very much alike. 8)

hey Alex .... my question is the same .....which is the best option for a new immigrant in ur opinion........ job or business ???

 

[cybervjs]

I believe as i'm also new immigrant, that before start thinking to own a business or starting new business here in Canada, Is good to work here first which give's you a bit of exposer and experience about canadian market rather than looking at website from outside its good to walk around inside the city u'll see lots of signs (business for sale) where you can negociate alot easily and specially 1 thing i want to mention here if you are not coming from North American region you'll feel difference by the way businesses works here..... even though i came from UK.
Best regards for your future life whatever is ur decision.

 

[qorax]

Hi there,

Been thinking for a few days what would be the better option for a newly landed PR in Canada. Employment or Own business?
I searched the net and found out lot of businesses for sale between CAD 50K and 100K that give you a respectable income. This of course, assuming that you have that amount of capital to start with.

So, the question is, if you had that amount of money, would you buy an existing running business and be your own boss or look for a job?
What are the pros and cons of each option?
Seniors or people who actually went through this in Canada your input is highly appreciated.

PMM & Cybervjs have opined very rightly. Be an employee here for a while before trying to employ. The biz-world is not as rosy as it looks from the other side of the world !

Besides, those sites aren't painting the correct picture. With that kind of investment u'd have a tough time making both ends meet, leave alone a 'respectable income'. It won't be worth the try... u'd not break-even for yrs. together !!!

Sorry for not sounding affirmative.

Qorax

 

[CANPK]

my question is the same .....which is the best option for a new immigrant in ur opinion........ job or business ???

Hi,

Both are not good for new immigrants.

Getting job is very difficult and starting business is more difficult than job?


CANPK

 

[qorax]

Hi,

Both are not good for new immigrants.

Getting job is very difficult and starting business is more difficult than job?

CANPK

No, that's not correct.
U would get a 'job' within few weeks of landing... however fetching one in your own field of expertise might take a while. The job market isn't that bad as being painted by [quite a few] adverse publicists.

Come with an open mind [and the right attitude], then 'change to learn' & 'learn to change' - wherein u shall seek !

Qorax

 

[Scanner]

Here are some of the sites I came across. As to the latter part of your question, I am afraid I am not qualified to answer as I don't have in-depth knowledge of the 2 markets but judging by the size, US has a much bigger and more competitive market than Canada. There will also be differences in industries. Canada's main are manufacturing and agriculture.

http://www.businesssellcanada.com/
http://canada.businessesforsale.com/
http://www.bizmatch.ca/

Good sites

 

[alexchristi]

hey Alex .... my question is the same .....which is the best option for a new immigrant in ur opinion........ job or business ???

I guess your Q. refers to what is the better way to immigrate, wright?
For going with the business you need a lot of money (300000 CAD) so it would be hard to put this amount together.
If you are talking about what to do after you get to Canada then my answer is: go with the business if you know what you are doing.(lets say you are a restaurant manager in your country and you have the money to open a fast food restaurant in Canada then go for it) 8)

 

[hassanbukhari]

Well I would say that if you are doing business in your home country then do business here as business man cannot work for somebody else. Buying a running business in start is kind a risky and you don't know the place, market and people.

God give every businessman a courage and patience and if you have it then stick with your plans and don't think of anything else.