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; but what are the best startup places in Canada? Centennial Moving Canada 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.

Best Canadian provinces for young entrepreneurs – Where to start

The country of Canada is located in North America and is made up of ten provinces and three territories. These include Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan, and the Yukon Territory. The capital city of Canada is Ottawa and the country’s population is around 35 million people. Canada’s population is made up of many different cultures and ethnicities, which is one of the things that makes the country so unique. Moreover, the vast majority of its population lives in urban areas, with the largest city being Toronto. Canada is also a country that is great for business due to its stable economy and low taxes. Lastly, Canada is known for its natural beauty, with its mountains, lakes, and forests. Whether you are looking to move to Canada or just visit, it is a country that has something for everyone.

Ontario

As a young entrepreneur, there is a plethora 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 is C$48,971. It is among the fastest-growing Canadian provinces. It is a hotspot for entrepreneurship.

Ontario is home to Toronto, and Toronto is the epicenter of the entire country

So, hiring only the best long distance movers Ontario offers, can make this move happen. Moreover, its proximity to the United States makes it a great option for American-based businesses looking to start up 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

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, it is also considered a major agriculture technology and tourism industry. There is no provincial sales tax, the healthcare system is universal, and employee insurance plan costs are almost non-existent. All things considered, hiring one of the best long distance moving companies Alberta knows and loves, can help you realize why Alberta is the perfect spot to set up a business.

Best Canadian provinces for young entrepreneurs: Saskatchewan

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. Moreover, 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.

One of the main things that make Saskatchewan one of the best Canadian provinces for young entrepreneurs is its proximity to the US

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 manufacturers. 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. 

British Columbia

Vancouver is the capital of British Columbia. Apart from this, it is a desirable destination for new businesses both large and small. Although starting a business has become more costly and complex in recent years, British Columbia has seen a more than 9% increase in its economy. So, if you want to start your own business, hiring the best long distance movers BC has to offer can make it easier for you. Being in retail, financial, or service-oriented businesses, It 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.

Quebec

When it comes to business startups, Quebec is one of the best Canadian provinces for young entrepreneurs. 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.

The main reason Quebec is one of the best Canadian provinces for young entrepreneurs is due to the high population count; as well as the major role in the Canadian economy the city has

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. This is just one, out of many reasons Quebec is one of the best Canadian provinces for young entrepreneurs. 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.

Manitoba

• It has a low cost of living, making it an affordable place to do business
• Manitoba offers a wide variety of support services for entrepreneurs, including training and networking opportunities
• Manitoba is home to a strong community of entrepreneurs who are always willing to share advice and support

The province of Manitoba is Canada’s fifth-largest province; located in the central Prairies. Manitoba is a great place to live and work, with plenty of opportunities for entrepreneurs. If you’re thinking of starting a business in Canada, Manitoba should definitely be on your radar! GDP per capita in the province is around C$51,484. Moreover, starting a business here would mean benefiting from a low cost of living and a wide variety of support services for entrepreneurs. From training and networking opportunities to a strong community of like-minded individuals, Manitoba has everything you need to get your business off the ground.

New Brunswick

• The province has a low business tax rate of 8%
• There are a number of government programs and incentives available for entrepreneurs
• New Brunswick is home to a number of incubators and accelerators that offer support to startup businesses

The New Brunswick government offers various initiatives and incentives for young entrepreneurs and small businesses throughout the year

With its location on the east coast of the country, New Brunswick is a great place to do business. The province has a low business tax rate of just eight percent, making it an attractive destination for entrepreneurs. In addition, there are a number of government programs and incentives available for businesses operating in New Brunswick. From incubators and accelerators to a wealth of resources, New Brunswick has everything you need to get your business up and running. Moreover, hiring car shipping companies Canada can ensure your business has the transportation it needs to succeed. The GDP per capita in New Brunswick is around C$49,218.

Best Canadian provinces for young entrepreneurs: Nova Scotia

Nova Scotia is the province that has the lowest business tax rate in all of Canada. Namely, the rate of the business tax is just three percent. Moreover, because the province is on the east coast of Canada, it is known for its stunning scenery and friendly people. This can mean that every entrepreneur will have the opportunity to relax and recharge in some of Nova Scotia’s beautiful natural landscapes. The province is also home to a number of supportive organizations, such as the Halifax Partnership, that offer resources and advice to entrepreneurs. With its low business tax rate and wealth of supportive organizations, Nova Scotia is an ideal place for young entrepreneurs to get started. Hiring long distance movers in Halifax will help you relocate to the province with C$40,172 of GDP per capita. Additionally, many startups are based in Halifax because of its supportive environment.

Prince Edward Island

Prince Edward Island is an unusual place for business. The province has the lowest population density in all of Canada. In other words, there are only about 15 people per square kilometer. Despite its small size, the province is home to a number of successful businesses. One reason for this is that the government offers a variety of programs and incentives to entrepreneurs. These programs are designed to help businesses get started and grow.

Although a smaller province, Prince Edward Island officials offer great opportunities and assistance for starting businesses

In addition, Prince Edward Island has a low business tax rate of just five percent. This means that hiring Prince Edward Island movers will help you move to one of the best Canadian provinces for young entrepreneurs; as well as, take advantage of its very low cost of living. The average GDP per capita in Prince Edward Island is C$ 48,039, which makes it one of the most prosperous provinces in the country.

Newfoundland and Labrador

The final Canadian province on our list is Newfoundland and Labrador. The province has a lot to offer entrepreneurs. For starters, the government provides a variety of programs and services to support businesses. These programs can help with everything from financing to marketing. In addition, let’s assume you will be moving from Ontario to Newfoundland; you would be happy to learn that the cost of living in Newfoundland is much lower than in other provinces. With its supportive environment and wealth of resources, Newfoundland and Labrador is an ideal place for young entrepreneurs to get started. The GPD per capita in the province is around C$71,527; which makes this province the most prosperous on our list. Some of the main things entrepreneurs will benefit from in the province include its supportive environment, low cost of living, and high GPD per capita.

How to know which of the best Canadian provinces for young entrepreneurs to choose?

As a business owner, especially one that is just starting, it is crucial that you choose the province that best suits your needs. To do this, it is important to consider a few factors. These include the cost of living, business tax rates, and availability of resources. Once you have considered these factors, you will be in a better position to choose the Canadian province that is right for you and your business.

Each province offers something different; so, making your choice requires a lot of thinking

Of course, as an entrepreneur, you will also need to be ready to work hard and take risks. But, if you are willing to do that, then there is no reason why you cannot succeed in any of the Canadian provinces. Especially when they have all the tools and resources to make your business dreams into a reality.

How the cost of living in the area affects your business

As a business owner, the cost of living can have a big effect on the success of your business. If the cost of living is too high, it can eat into your profits and make it difficult to grow your business. On the other hand, if the cost of living is too low, it can make it difficult to attract and retain employees. The best way to find a balance is to choose a province with a moderate cost, like for example Newfoundland and Labrador. That way, you can take advantage of the resources and support available in the province without breaking the bank. Additionally, because most of the provinces on our list have a low cost of living, it makes them an attractive option for young entrepreneurs who are just starting out. So, hiring province to province movers will help you make the right decision for your business.

Utilizing the business tax rates

The business tax rates will surely play a vital part in how you run your business. If the taxes are too high, it will take a big chunk out of your profits. On the other hand, if the taxes are too low, it can mean that the government is not investing enough in resources and programs to support businesses. The best way to find a balance is to choose a province with moderate business tax rates.

When choosing the best Canadian provinces for young entrepreneurs, higher tax rates usually mean more government investments in startups; while lower taxes usually mean fewer resources

While the province of Newfoundland and Labrador has the highest business tax rates on our list. It also has a lot to offer businesses in terms of resources and support. On the other hand, the province of Quebec has the lowest business tax rates but it does not have as many resources and programs available to businesses. So, it is important to weigh all of these factors when choosing a province for your business.

The resources available to your business in some of the best Canadian provinces for young entrepreneurs

As we were saying, each province will have some resources that you, as a startup, can utilize. It is important to have a look at what each province has to offer and see if it matches your business needs. For example, the province of Newfoundland and Labrador offers a wide range of resources for businesses, including funding, mentorship, training, and networking opportunities. On the other hand, the province of Quebec has a more limited selection of resources but it does offer tax incentives and programs to help businesses grow. And last but not least, the province of Saskatchewan offers a variety of resources to help businesses start up and grow; including business incubators, accelerators, and co-working spaces. Each resource you find in any of the best Canadian provinces for young entrepreneurs will help you take your business to the next level.

The final analysis

In the final analysis, when thinking about where to base your new entrepreneurial venture in Canada; don’t underestimate all of the best 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 hiring Cenntenial Moving services and moving over?