Serving Toronto, GTA &southern Ontario
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Buy or Sell a Business
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Steve Skrlac, MBA, CFA - Broker of Record
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Business Immigrants to Canada
If you are a business immigrant to Canada on a business visa, or are thinking of moving to Canada you should be aware of the options that may and may not be available to you. In Canada, many diplomas, certificates and trades papers from overseas are not recognized as a prerequisite “Canadian experience”. The truth is, there are many qualified doctors, engineers and accountants who move to this country who cannot find employment in their vocations and discover that business ownership is a viable alternative. This is a common immigration issue that the Ontario and federal governments are usually very slow to address. Many, therefore, turn to investments in a Canadian company as their avenue to get a visa.
This article will explore some different reasons why owing your own business (and buying an existing one) is a viable option and some resources to assist you.
Canadian business culture
The business culture in Canada is one build on efficacy and respect for laws, regulations and rights for workers and investors. Many newcomers to the country note how different it is to do business here and that the high level of transparency make it a preferable place to do business.
The banking system in Canada
The banks in Canada are among the most stable in the entire world. There are many loan and credit programs designed to assist business buyers. The Business Development Bank (BDC) is a federal Crown corporation with mandate to assist in small and medium-sized business financing, including acquisitions.
Highly developed society and economy
The economic system is one of the most advanced in the world. The largest city of Toronto, Ontario has numerous business opportunities, an affluent market, educated workforce and sophisticated investors to draw upon. Canada, and southern Ontario specifically, is one of the best places anywhere to purchase a business.
Start a business or buy one?
Starting up a business is a very risk proposition. It involves committing some level of capital at risk and essentially starting from day one with no cash flow. Buying a business can be far less risky. Revenue is usually present from the onset and processes, clients, vendors and staff are already in place. Buying established businesses for sale is a common path for new immigrants to establish themselves economically in Canada.
The question most new arrivals to the country as is where to look to find a company to buy. Although there may appear to be many business listings, relatively few are actually ventures which will sell. If you know of a business broker in your community or perhaps an M&A advisor that you can consult with, that would be a good first step. Talking to a professional that is in constant contact with buyers and sellers is the recommended starting point. You can rely on searching the internet to find a business for sale but the reality is that you can be searching for a long time by just relying on that channel.
Contact Steve Skrlac if you are a business immigrant looking for more information on buying a small business.
This article will explore some different reasons why owing your own business (and buying an existing one) is a viable option and some resources to assist you.
Canadian business culture
The business culture in Canada is one build on efficacy and respect for laws, regulations and rights for workers and investors. Many newcomers to the country note how different it is to do business here and that the high level of transparency make it a preferable place to do business.
The banking system in Canada
The banks in Canada are among the most stable in the entire world. There are many loan and credit programs designed to assist business buyers. The Business Development Bank (BDC) is a federal Crown corporation with mandate to assist in small and medium-sized business financing, including acquisitions.
Highly developed society and economy
The economic system is one of the most advanced in the world. The largest city of Toronto, Ontario has numerous business opportunities, an affluent market, educated workforce and sophisticated investors to draw upon. Canada, and southern Ontario specifically, is one of the best places anywhere to purchase a business.
Start a business or buy one?
Starting up a business is a very risk proposition. It involves committing some level of capital at risk and essentially starting from day one with no cash flow. Buying a business can be far less risky. Revenue is usually present from the onset and processes, clients, vendors and staff are already in place. Buying established businesses for sale is a common path for new immigrants to establish themselves economically in Canada.
The question most new arrivals to the country as is where to look to find a company to buy. Although there may appear to be many business listings, relatively few are actually ventures which will sell. If you know of a business broker in your community or perhaps an M&A advisor that you can consult with, that would be a good first step. Talking to a professional that is in constant contact with buyers and sellers is the recommended starting point. You can rely on searching the internet to find a business for sale but the reality is that you can be searching for a long time by just relying on that channel.
Contact Steve Skrlac if you are a business immigrant looking for more information on buying a small business.
