There are many reasons to join the growing roster of non-Canadian entrepreneurs operating in Canada. According to an extensive 10-month study of multinational business costs in Asia-Pacific, Europe, and Canada by KMPG, Canadian businesses costs ranked the least. Also they are roughly 9% lower than those in the USA after taxes depending on the industry. Lower labor cost is a considerable reason for this. The overall labor expenses, including salaries and wages, health benefits, and statutory benefits are lowest for Canadian companies. US benefit costs amount to 32%, while Canada only amounts to 29%.
There are also lower costs of production for Canadian businesses. Electricity costs for an average company is 22% less than the US electricity costs. Company real estate and factory sites are 8% lower. Plus, excellent infrastructure and roads also minimize repairs for company vehicles and ease transportation of products. Canada also promotes low telecommunication rates, thereby facilitating better communication and information transfer for lower costs.
Perhaps the best reason to put up a business in Canada is that the country welcomes investment and new businesses. Canadian businesses and new investors can avail of the Canada Small Business Financing (CSBF) Act that was established 1999. This program aim to streamline the processing of loans, loans administration, and extend financing opportunities for smaller businesses.
If these are not reason enough to put up a business in Canada, the state also offers premium retirement plans for employees and company owners. There is also a wide labor market and a competitive business climate. The Canadian government also puts up agencies to assist new investors and starting companies to get their businesses up and running smoothly. Canadian tax laws are rigid though and must be observed with strict compliance. However, this should not deter prospective investors because the tax paid to the government is translated into better civil service, good public facilities, infrastructure, excellent education, and competent medical care. In short, the taxes paid to the government translates to a better quality of life for Canadian citizens. Fostering a positive community is perhaps the reason why Canadian businesses reap the highest profit and gains. This is because the employees are earning better which makes them more productive, the exchange of goods is faster, and the consumers have more income to spend. The only disadvantage to starting a Canadian business is the fact that prospective entrepreneurs might not know what to do with their extra cash and income.
For more valuable information on Canadian Businesses, please visit http://www.canadianbusinessexchange.com
