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Best Canadian provinces for young entrepreneurs
One can embark on entrepreneurship waters at any age. Although some youth entrepreneur programs require you to be between 15 and 39 years old, there is no minimum age for starting a business generally. Nevertheless, to sign legal documents or contracts you need to be 18 years old. If you are younger and still want to start up your business you will need a parent or guardian to sign legal documents for you. Generally speaking, age is not an obstacle at all for starting a business in Canada, but what are the best startup places in Canada. Centennial Moving tries to find out all these answers for you and introduce you to the best Canadian provinces for young entrepreneurs. Some would say that Canada is a start-up powerhouse. There is excellent support for entrepreneurs in Canada. To illustrate, the Canadian government underlines its determination to attract and aid new startups.
Entrepreneurship is booming in Canada
Canadian provinces for young entrepreneurs – where to start
The Great White North
The Great White North and its many provinces are a smart option to consider when you are young and have your startup in mind. As far as the most promising locations are concerned, here are they
Canadian government underlines its determination to attract and aid new startups
As a young entrepreneur, there are a lot of steps to go through when starting a business but it’s always a good idea to have a look at some statistics. So let’s dive into some numbers first. Ontario has a population of 14.19 million with 389,116 registered small businesses. The GDP per capita of the province is C$48,971. Ontario is among the fastest-growing Canadian provinces. It is Canada’s top spot where entrepreneurship is booming. Who wouldn’t want to take part? Its proximity to the United States makes it a great option for American-based businesses looking to startup in Canada. In spite of, income taxes in Ontario being among the highest, it’s all the same one of the greenest provinces in Canada offering alternative energy tax incentives to all residents. Ontario is the leading manufacturing province and it makes up for more than 50% of Canada’s manufacturing shipments.
Alberta is a great place to start a business as a young entrepreneur. Starting a business in Alberta is not hard as they have the lowest corporate tax in Canada and no provincial sales tax. It is the province with one of the strongest economies in all of Canada. Notably, the population of 4.28 million has registered 154,495 small businesses. The GDP per capita of the province stands at C$78,154. Alberta is the main supplier of oil sands. Clearly, Alberta is also considered a major agriculture technology and tourism industry. There is no provincial sales tax, the healthcare system is universal, employee insurance plan costs are almost non-existent. All things considered, we at province to province movers can conclude that Alberta is the perfect spot to set up a business.
Saskatchewan’s government helps create and nurture an economic environment that lets businesses of all sizes grow and flourish. It has a perfect central location in North America which makes it easy to do business in every part of the continent. Long distance moving is a usual venture here as Saskatchewan is only a day away by land from a market of 60 million people. Moreover, it is only two days away from 270 million and more people in Canada and the United States. Saskatchewan’s economy is based on manufacturing, it represents 5.5 percent of the province’s GDP. The GDP per capita of the province is C$70,654. Shipments reached $13.4 billion in 2020. The business environment is favorable for manufactures. It includes low corporate income tax for manufacturers. The advantages of investing and doing business in Saskatchewan are numerous and inviting for everybody, not just young entrepreneurs.
Vancouver is the capital of British Columbia. Apart from this, it is a desirable destination for new businesses both large and small. And, although starting a business has become more costly and complex in recent years, British Columbia has seen a more than a 9% increase in its economy over the past year. British Columbia has something to offer every branch of business. Being in retail, financial, or service-oriented businesses, British Columbia has a well-educated workforce, a large population, and business-friendly taxes. The GDP per capita of the entire province stands at C$47,579. British Columbia is becoming a new tech hub in the Great White North. One of the advantages of doing business in Vancouver is that it is in the same time zone as other major cities like Los Angeles, Seattle, and San Francisco, which guarantees strong business relations with the U.S.
When it comes to business startups, Quebec has a lot to offer new entrepreneurs. So, with a population of over 8 million, Québec plays a major economic role in the Canadian scene. Additionally, it has an open market economy which is Canada’s second-largest, service-oriented economy. At the present time, Quebec is fast becoming a startup place for businesses of all kinds. This Canadian province has outstanding aerospace, biotechnology, information, communication, and pharmaceutical industries. The GDP per capita is C$43,349. It should be noted, the unemployment rate has dropped significantly in the province, in recent years. 70% of Québec’s exports are going to the U.S. What is more, don’t forget that French is the language of business in Quebec as well as in other official spheres.
Starting a business in Canada is easy. You could start your business tomorrow and be making money by the end of the week.
In the final analysis, when thinking about where to base your new entrepreneurial venture in Canada don’t underestimate Canadian provinces for young entrepreneurs. All in all, the above-mentioned provinces, have a well-educated workforce. Notably, each province is rich in natural resources and beautiful nature. Needless to say, Canada is open to a workforce from all over the world. Furthermore, many of Canada’s most beloved province cities are international powerhouses. The Canadian technology scene is fast-growing, so move over to Canadian Silicon Valley. On top of that, there are even numerous startup accelerator programs to fuel your business growth in Canada, so what’s keeping you from taking Cenntenial Moving services and moving over.