Why is Canada a hot spot for startups?
Finding a place to start a company? Although there are dozens of factors that help to the success and demise of fledgling startup companies, area or location may have more of an impact than we give it credit for. Aside from being a friendly environment, Canada is a thriving place for startups. Why? Cities in Canada have no nicknames like other tech-focused cities down south. In short, there are no Hubs, so tech and business is spread evenly across the whole country.
What are the facts about Canada for startups?
- Tech-giants are already in Canada. Google’s parent company, Alphabet, has chosen Toronto as the site of a new 12-acre digital city to be built “from the Internet up.” Moreover, Amazon Web and Microsoft Services choose Canada for their worldwide cloud infrastructure. In addition to that, Big tech companies such as Google, Facebook and Airbnb built a strong presence in cities such as Montreal and Toronto, adding to the energy and boosting the labour force of the entrepreneurial community.
- Government supports small businesses. No matter what location your business is in Canada, the federal and provincial government offers funding programs to help tech startups. There is a good financing plan but requires a business to provide a level of their fund sources first. The Canada Job Grant makes up for two third of the training expenses, up to a maximum government aid of $10,000 per employee. Canada prioritises the quality of global knowledge training and is accessible by the said program.
- Canada has wide-array of talent pools. The country is fueled by a strong education system and good immigration policies that allows many professional and skilled migrants to work in Canada. The country has universal medical insurance that provides startups the advantage for less direct investment needed to keep employees healthy.
These are few key facts why Canada is the ideal place for startups. So if you are planning to build a business, you may start considering Canada as one of your options. Companies like Slack, Shopify, FreshBooks, Tunnel Bear, Wattpad and Influitive are few startups that began in Canada, and up to date, they continue to thrive.
