Tuesday, March 22, 2016

At creating new businesses, immigrants outpace Canadian-born people, StatsCan finds - CBC

Originally published: March 21, 2016
Publisher: CBC

Study finds newcomers more likely to establish businesses or be self-employed

The Korean who owns the pharmacy, the Portuguese building contractor, the Indian who started an accountancy practice — no matter what their place of birth, they're creating jobs, for themselves and for others, Statistics Canada has found in a new study.

By the time they'd been in Canada nine years, about 5.3 per cent of immigrants owned a private company, meaning they formed new businesses more quickly than the Canadian-born population, where the rate is 4.8 per cent.

Another 19.6 per cent of immigrants were unincorporated self-employed persons, compared with 16.1 per cent for the Canadian-born group.

Longer-term immigrants, who had been in Canada from 10 to 30 years, also appeared to be more entrepreneurial than the Canadian-born, Statistics Canada said.

It found 5.8 per cent of longer-term immigrant tax-filers were owners of private incorporated companies.

The study was based on tax data from the year 2010, looking at immigrants who had arrived in 2004 and in the 10 to 30 year period leading up to 2010.

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