The Government of Canada Reports that The Annual Net Job Growth is Higher Among the Immigrant-owned Firms.
These firms create immigrant more jobs than the companies, owned by Canadian born entrepreneurs.
The report was based on a ten-year study by Statistics Canada, presented on 24th April 2019. It distinguishes the performance trends of the immigrant business owners who have entered Canada since 1980 and business firms with owners born in Canada. The report covers the data from the period of 2003 to 2013.
The Study had Four Objectives to Determine!
1. The number of jobs created and destroyed by immigrant-owned private incorporated companies compared with that of firms of Canadian-born owners.
2. Which firms are experiencing high-growth and which ones are rapidly shrinking.
3. The immigrant characteristics of the high growth immigrant-owned firms or rapidly shrinking firms.
4. Firm’s likelihood of being a high-growth firm (i.e. over 20% annual growth in employment).
– As mention previously, in the period of 2003 to 2013, companies owned by foreign entrepreneurs created a quarter of all new jobs in the private sector.
– The unadjusted results (raw data) suggested that immigrant-owned firms were significantly more likely (1.3 times as likely) than firms with Canadian-born owners to be high-growth firms. The gap was due to differences in the characteristics of the firms.
– Average of 5.8% of immigrants who were in Canada for 10-30 years, had a private joint-stock company with employees compared to 4.8% of Canadians.
– But the number of companies owned by immigrants were smaller than those owned by entrepreneurs born in Canada.
– The results also suggested that the characteristics (educational attainment, the source region or immigrant class) of the immigrant owners had relatively little effect on the likelihood of an immigrant-owned firm being a high-growth or rapidly shrinking firm.
– In addition, Statistics Canada reported that the immigrant-owned firms were younger, and younger firms have higher job creation rates. These Young firms were accounted for 40.5% of gross job creation.
The study brings us more hopes as it showcases the advantages of immigration and the innovations it brings to the country. It may result in Canada’s increased focus on migration, more than ever.
Statistics Canada states (in a media release), although the linked data file currently ends in 2013, the information in this study provides a useful first step in understanding the role of immigrant entrepreneurs in the Canadian economy.
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Canada is Issuing Invitations to Apply Through the Parents and Grandparents Program
In the month of January, we updated you with Canada’s announcement to welcome 20,500 parents and grandparents in 2019, subsequently 21,000 in 2020. Now, Canada has honoured its promise and has started inviting immigrant families through the Parents and Grandparents Program (PGP).
The first set of invitations were sent on 24th April 2019. IRCC (Immigration, Refugees and Citizenship Canada) says it will take a few days for the Federal government to send out all of the invitations. Those receiving invitations have until 28th June 2019 to submit their completed applications.
Like every time, the window opened for a short period of time and closed. Therefore, many applicants were unable to submit the applications successfully.
It is not very unusual to face a technical issue, considering the fact that a total of 100,000 people tried to access the system at a time. Thus, the authorities are now improving the system (after a series of complaints) to make the rest of the process smooth.
Why does Canada wish to reunite families?
Bringing families together plays a key role, as the government believes when immigrant families are able to stay together, their integration into Canadian culture, commitment for work and community contribution increase.
This year, Canada may open the PGP program multiple times in the process of clearing Canada’s large backlog of PGP applications since 2011. A total of 167,000 number of applications that were under review until last year.
Manitoba Issues New Invitations to The Candidates of The Following Streams!
The Province of Manitoba conducted its 64th draw on 25th April 2019. But unlike the previous rounds, the province only invited 66 applicants, directly under its Strategic Recruitment Initiative. The ranking score of the lowest-ranked candidate was 632.
There were no invitations issued for MPNP (Manitoba Provincial Nominee Program) Express Entry linked stream. But there are high possibilities of province sending out invitations to express entry candidates soon.
This year, Manitoba has opened for Overseas Express Entry candidates for seven times since January. In each of these draws, the minimum score continued to drop until in the last draw it reached 561.
Thanks to the multiple invitation rounds in a month, a few of our clients have already received nominations and some are waiting in the pool to get their invitations.