Opportunities in Canada

[curious_toad]

Asking some general questions to know about business environment in Canada since I have never been/lived there. I come from an emerging market economy where there are a lot of opportunities in many different industries and if one is dedicated and hard-working and smart of course, then they can become millionaires in US$ in a fairly short amount of time even though there is a lot of competition (fake and genuine / local and multinational) in emerging markets. Just to give an idea, some banks in our part of the world offer 13% interest rates on fixed deposits and we also have healthy amount of FDI coming in which keeps different industries upbeat.

Questions:

1. Is it better to do business or a job with good salary in Canada?
2. What is competition like in different industries in Canada?
3. What kind of profit margins exist in Canada for businesses? (example industry-wise)
4. What are some examples of profitable industries to do business in?

 

[steaky]

I don't think there are any business owners (except the forum host) in this forum who could give you the answers you want.

 

[nope]

I don't think there are any business owners (except the forum host) in this forum who could give you the answers you want.

We are not an entrepreneurial bunch . . .

 

[curious_toad]

You don't have to be an "entrepreneurial bunch". You do live in Canada - don't you? I mean you should be able to extract some of this info. from normal living in any place.

I was just hoping to get some idea therefore ANY opinion will be something for me who hasn't lived in Canada.

 

[torontosm]

1. Is it better to do business or a job with good salary in Canada?
2. What is competition like in different industries in Canada?
3. What kind of profit margins exist in Canada for businesses? (example industry-wise)
4. What are some examples of profitable industries to do business in?

1. This depends on your personality. In general, the tax treatment on income from a business is much more favorable than taxes on salaries. So, if you have the stomach for the risk, you could fare better operating a business than working a job here.
2. Competition is high in pretty much every industry. You have to find a niche or some competitive advantage to help you succeed.
3. Margins vary by industry. All information for public companies in Canada is available for free on SEDAR (sedar.com) so you can do your own research and figure out what margins larger public companies are achieving in the industry you are interested in.
4. Again, a lot will depend on where you settle, how much capital you have, what your experience is in, etc.

 

[curious_toad]

Although my opinion from outside Canada would not be too optimistic in terms of doing a business. One of the reason being slow economic growth, 2015 gdp growth rate for Canada was a measly 1.20% and from 2005 to 2015 its avg. growth was 2.01%. Generally speaking, gdp growth rate + inflation are two good numbers that can tell you something about the chances of your business growing or stagnating, and it is also evident from our part of the world where people who were once hawkers on streets have managed to progress in life to better social standing due to avg. gdp growth rates of 5 to 6% in the last ten years. In addition, salary + other benefits for employees are way too high in Canada therefore your profit margin probably isn't that great.

However, what kind of net income can you expect annually for the following?

Example 1: a grocery store in a city like Vancouver.
Example 2: an insurance/financial brokerage firm in Vancouver or Toronto.
Example 3: an engineering consulting firm in a city

What industries take place region wise? - like most financial activities take place in Toronto.

 

[nope]

You don't have to be an "entrepreneurial bunch". You do live in Canada - don't you? I mean you should be able to extract some of this info. from normal living in any place.

I was just hoping to get some idea therefore ANY opinion will be something for me who hasn't lived in Canada.

If you're asking about the chances of starting a business, you expect strangers to 'extract' your info for you, and you'll take ANY opinion at all, then, my friend, failure awaits you.

 

[curious_toad]

If you're asking about the chances of starting a business, you expect strangers to 'extract' your info for you, and you'll take ANY opinion at all, then, my friend, failure awaits you.

Looks like I am in the wrong place/environment.

 

[nope]

Or that you don't know what questions to ask.

 

[steaky]

However, what kind of net income can you expect annually for the following?

Example 1: a grocery store in a city like Vancouver.

Perhaps you can contact the listing agent to find out?

http://www.canadavisa.com/canada-immigration-discussion-board/how-much-does-a-grocery-store-cost-t415561.0.html

 

[curious_toad]

Or that you don't know what questions to ask.

Yes, blame it on others .... you know everything, don't you?

Perhaps you can contact the listing agent to find out?

http://www.canadavisa.com/canada-immigration-discussion-board/how-much-does-a-grocery-store-cost-t415561.0.html

Thanks

 

[foodie69]

I will give you an answer:

A downtown Vancouver restaurant, 100 seats
Annual turnover $3'600'000.00
GP 67%
Net profit after taxes,if lucky, 5% $180'000.00, probably less..

 

[curious_toad]

I will give you an answer:

A downtown Vancouver restaurant, 100 seats
Annual turnover $3'600'000.00
GP 67%
Net profit after taxes,if lucky, 5% $180'000.00, probably less..

Thank you very much. Just needed some honest basic figures to compare Canada.

 

[curious_toad]

If i want to export awesome 100% organic agricultural products (mostly fruits and veggies) of my nation, could it be somewhat profitable business?

 

[foodie69]

If i want to export awesome 100% organic agricultural products (mostly fruits and veggies) of my nation, could it be somewhat profitable business?

Good luck!

http://laws-lois.justice.gc.ca/eng/regulations/C.R.C.,_c._285/index.html