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CANADA A COUNTRY OF ENTREPRENEURSHIP

December 7, 2019 3:56 pm Published by Leave your thoughts

Canada is second only to the U.S. in levels of entrepreneurial activity, beating most G7 countries and much of the developed world.

The Canadian environment and culture for entrepreneurship is healthy. Entrepreneurship is seen as a good career for which opportunities exist within the capacities of a large segment of the population.

Among the positive attitudes cited for Canadian culture:

  • Highly supportive of individual success achieved through personal effort.
  • Emphasizes self-sufficiency, autonomy and personal initiative.
  • Encourages creativity and innovation.

There are many reasons why Canada is the best place to build your business:

  • Strong economic growth: Forbes magazine rates Canada as the best country in the G-20 with which to do business. Canada has the strongest fiscal position in the G-7 and among the best fiscal prospects in the G-20.
  • Low taxes and low business costs: Canada offers a low-cost and low-tax environment so your business can thrive. Canada’s overall tax rate on new business investment is significantly lower than that of other G-7 countries. KPMG ranks Canada as the most tax competitive country in the G-7.
  • Excellence in research and innovation: Canada offers a winning environment for research and innovation, including world-leading research and development (R & D) infrastructure, scientific talent and innovation incentives. Combined federal and provincial credits can return to foreign investors, on average, up to 30 percent of their R & D investment in Canada.
  • Top quality of life: Canada’s top quality of life provides a great backdrop for the success of individuals, families and globally engaged companies. Canada is home to a highly educated, flexible and multicultural work force.

Interesting facts:

  • There are 46 Canadians among the Forbes list, including 7 new billionaires added over the past year. Canada’s wealthiest have a combined net worth of U$148.5 billion, up $14.7 billion since 2017.
  • Canada had 1.3 million millionaires in 2018 and that’s expected to rise by 54 per cent to nearly two million people by 2023
  • Ottawa, the country’s capital, is Canada’s richest city based on average annual income. Canada has a healthy and developed economy, which is considered the 10th largest in the world.
  • In 2015, Calgary had the highest number of millionaires in Canada (persons reporting personal income of $1 Million+), on a per capita basis, at 225.3 per 100,000 population. Calgary’s 10-year total growth (2006-2015) in millionaires per capita is 42.9 per cent.
  • Canada ranked as the 14th country in the world with the most billionaires, with 45 living on Canadian soil, accounting for a total of $87 billion in wealth.

Canada is home to some of the richest people in the world… here’s the top list of Canada’s billionaires:


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