Recommended
Recommended
More Related Content
Similar to Canadian Business Environment
Similar to Canadian Business Environment (20)
Recently uploaded
Recently uploaded (20)
Canadian Business Environment
- 2. To give you an insight to the Canadian business environment To help you to foster your business idea and to know your challenges a head To guide you to develop a Business Plan for your business To familiarize you with the essentials for doing a business in Canada
- 3. Who should attend the live workshop? • Persian speaking immigrants who Have a passion to start a business Have a business idea
- 4. Agenda 01 02 03 04 05 An Introduction to Canada’s Business environment Before starting a business Steps to start a business: Step1 Business Idea&Model Steps to start a business: Step2 Business Plan Steps to start a business: Step3 Finances
- 5. Agenda 06 07 08 09 10 Steps to start a business: Step4 Marketing Steps to start a business: Step5 Business Structure Tax Planning Accounting Wrap up and discuss cases
- 6. First Session: Introduction to Canada’s Business Environment
- 7. Agenda for today Introduction to Canada’s Business environment Doing Business 2020 Indicators1 Business success rate in Canada2 Business Failure Reasons3 New Immigrants’ Challenges4 Iranian-Canadian Entrepreneurship Position5
- 13. 96,000 new firms entered the Canadian economy/year 9.4 percent (annual birth rate) The highest birth rates in accommodation and food services Higher birth rates, lower survival rates Highest failure rate in accommodation and food services New firm birth rates in Canada Annual Birth Rate, Canada (2002–2014) Sources: National Account Longitudinal Microdata File; and ISED's calculations
- 14. New firm survival rates • Sixty three percent of new firms survived five years, and 43 percent survived 10 years. • Firm entrant survival rates exhibited a steady and gradual increase from 2002 to 2014.
- 15. Average Survival Rate, Canada
- 16. New firm survival rates • Firms have higher survival rates when they are born larger. – During the first three years 23 percent of entrants with 1–4 employees failed while only about 14 percent failed among those with 20–99 employees. – More than 57 percent of new firms with 1–4 employees failed after 10 years, but less than 50 percent of firms with over 20 employees failed after 10 years.
- 17. In 2019, 140,858 insolvencies were filed 7,000 businesses go bankrupt every year Bankraptcy Insolvency Statistics in Canada — 2019
- 18. Why Businesses Fails? Internal CausesExternal Causes Bankruptcy According to a Survey by Statistics Canada http://www.statcan.gc.ca/pub/61-525-x/61-525-x1997001-eng.pdf
- 21. Forbes: Top 10 causes for small businesses failure User un-friendly product Poor marketing Ignore customers Product without a business model No market need Not the right team Got outcompeted Ran out of cash Pricing /Cost issues Product mistimed 42% 29% 23% 19% 18% 17% 17% 14% 14% 13%
- 22. ChallengesofImmigrants’Entrepreneurs 01 02 03 04 05 Unfamiliarity with the Canadian business environment Procuring funding Building a network Language Barrier Preparing an effective business & marketing plan Rank Challenge Score 49 45 42 42 32
- 23. ChallengesofImmigrants’Entrepreneurs 06 07 08 09 10 The market & competition Cultural differences Lack of knowledge of Canadian banks and legal restrictions Lack of strong ties Discrimination Rank Challenge Score 31 30 17 16 14
- 25. Legitimacy criteria from the perspective of Banks 01 02 02 02 05 Amount of investment by other investors Being in the production phase or having the business running Excellent credit history and high credit score Amount of owner investment Loan security Rank Criterion Score 40 36 36 36 32
- 26. Legitimacy criteria from the perspective of Banks 06 07 08 09 10 Strong business and marketing plan Experience & background of the founder and director Tax documents and history of paying taxes Number of employees Innovative idea Rank Criterion Score 30 27 22 20 10
- 27. Legitimacy criteria from the perspective of Gov. Agencies 01 02 02 02 02 Experience & background of the founder and director Amount of investment by other investors Strong business and marketing plan Number of employees Innovative idea Rank Criterion Score 40 34 34 34 34
- 28. Legitimacy criteria from the perspective of Gov. Agencies 06 07 08 09 10 Being in the production phase or having the business Amount of owner investment Tax documents and history of paying taxes Excellent credit history and high credit score Loan security Rank Criterion Score 33 29 18 7 6
- 29. • Immigration • Relatively new community Iranian-Canadian Entrepreneurs' Position 1970s Education, economic or investment opportunities 1980s Political reasons 1990s Wealthy & well-educated professioanls
- 30. 2011 Census 50% under 35yrs old 163,290 Iranian Immigrants Population 49% 34% Growth 5 years 51% Iranian-Canadian Entrepreneurs' Position
- 31. Iranian-Canadian Entrepreneurs' Position 7% 10% 17% 16% 18% 14% 17% 50% 65 years and over 55-64 45-54 35-44 25-34 15-24 under 15 56.7%24.1% 10.9% 8.3% Ontario British Columbia Quebec The rest of Canada Demographics
- 32. Iranian-Canadian Entrepreneurs' Position Education 6.0% 11.8% 7.1% 29.9% 27.0% 56.8% Apprenticeship or trades certificate or diploma College, CEGEP or other non-university certificate or diploma University certificate or diploma below bachelor level Bachelor's degree University certificate, diploma or degree above bachelor level
- 35. Prime Minister Justin Trudeau Appoints Shahrzad Rafati to Represent Canada on G20 Business Women Leaders Task Force
- 36. You may type your question in the Chat area or raise your hand to speak Questions?
- 37. Thank you