There are many supporters of technological innovation as the driving force of the global economy. This is understandable due to the growing boom of eCommerce and other affected industries due to the global pandemic’s restrictions on several markets. Even in Canada, many sectors, from food production to textile fabrication, continue to improve due to game-changing technology. Nevertheless, the output of these establishments is largely reliant on the impact of immigrant workers.
Although Canada is in a prime position to compete with other giants globally, human resources are simply not enough to sustain high demands. This is why Canada has a variety of business immigration methods that appeal specifically to new immigrants. It’s an initiative to attract new talent and to combat the persistent low supply of local workers.
The value of business immigration
Immigrants play a crucial role in supporting local businesses and the economy’s development. This is why Canada has a rigorous and streamlined immigration process that involves different categories of immigrant classes. While other nations are restricting access to foreign citizenship, Canada is committing its efforts to win over the hearts of talented individuals. It’s a strategy that continues to remain effective to this day.
Among the four immigrant classes that arrive in Canada, the business and economic class immigrants account for over 60% of new Canadians yearly. It’s a staggering amount of new citizens that bring in in-demand skillsets for particular industries. More immigrants also drive growth in increased interest in investments, development of more jobs, and development of local communities.
The impact of immigrant-owned businesses
Immigrant-owned businesses hold a humble chunk of the economy, with over 17% of locally owned businesses. However, these establishments also account for 25% of job creation. This mainly comes from the development of immigrant-owned businesses that cater to specialized services, expand locally-offered products, and diversify the market. Besides increasing job opportunities for Canadians, these immigrant-borne businesses also develop high-employment opportunities in niche professional, scientific and retail trade fields. Additionally, immigrant-owned companies have a much greater survival rate than Canadian-born establishments, with over 58% still in operation after reaching beyond seven years.
The implementation of robust immigration standards
Part of what makes Canadian citizenship appealing is the strong government support toward different quality-of-life processes. Accessible healthcare, low corporate taxes, and welcoming communities make it a viable place as a new start for foreign nationals. This is what keeps Canada at the top spot of accepting immigrant workers competitively on an international scale.
Although immigrants play a crucial role in Canada’s economic growth, that doesn’t mean that its immigration processes don’t have robust policies for admission. Among the hundreds of thousands of immigrants that apply for work permits or temporary visas, only a handful get accepted into recommended talent pools. This is why competition is tough and requires rigorous planning for aspiring individuals who want a future within Canada’s borders. Thankfully, you can secure the services of Canadian immigration agencies to smoothen all the requirements and preparations you’ll need when sending your application.
It can be comforting to realize the progression that technological advancements bring to modern society. Thanks to the convenience of modern technology, many processes, including immigration applications, are made much easier to access and accomplish. However, human resources still stand as the premier asset of a country’s economy. After all, it’s a nation’s people that provide, maintain, and contribute to economic growth.
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