IS THE CANADA GOOD FOR BUSINESS?

Name and Surname: Denys Soldunov

ID number: 30656

Academic Year 2014/2015

I hereby certify that this paper is the result of my own work and that all
sources I used have been reported.

© Kozminski University 2015

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Nowadays many people want to start their own business and are looking the best country for their

industry. Canada is big country with strong economy and great industrial potential, which plays big

economy role in North America. Every year Canadian economy growing faster and it improves all

time. The Canadian economy is a height developed and develops further that is why Canada is the

best place to start business because you can plan your business. This is true that Canada has great

infrastructure, industrial growth and developed agriculture.

At 2005 Canada was recognized the second richest country of the world. First of all Canada has the

lowest tax on profit of the world and the highest rates of new jobs, what is the best for the creation of

new business. Nowadays in Canada the record low bank interest rates, low inflation and stable

significant improvement in government finances before the opening of the Canadian economy, is the

best opportunities for development new own business. The Canadian economy is growing rapidly,

creating more jobs and without any significant inflation. Doing business in Canada is cheaper and

easier than in the other countries for example United States. A study conducted by KPMG company

found that operating costs of any Canadian business on average 6.7% lower than the cost of similar

business in the United States which is situated in comparable conditions just south. There are many

favorable factors differentiating set of conditions for doing business in Canada, among them:

 Lower land prices

 Lower the cost of all construction work

 The cost of electricity in Canada today is the lowest in the world

 The most favorable conditions for investment

 The availability of venture capital today in Canada more than 2 times more per person on this

axis than the United States

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  A large number of different government – federal and provincial programs – support and

development of small and medium-sized business.

For many years, entrepreneurs transform ideas into products and services. On the one hand they meet

the needs of customers for their products and services, on the other hand are building their own

careers. Official Canadian authorities are ready to assist entrepreneurs by offering them assess their

potential by answering the questions the so-called national test for Entrepreneurs. According to the

results of the test, entrepreneurs can get a number of recommendations and overall assessment of

their business potential in Canada.

Figure 1. Canadian Export

There is structure of the Canadian export to the countries of the world:

Source: amerika.org.ua

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Canada’s largest trading partner is the United States – in this country receives about 85% of

Canadian exports. Canada exports about 80% of cars produced in the country, 65% of the light

industry products and 55% of rubber; about half of domestically produced electrical equipment,

steel, plump and paper industry. In the United States, the same leaves and a third of all manufactured

in Canada foodstuffs. Canada is also the largest supplier of crude oil to the US, where it goes about

50% of Canadian oil and gas. Canadian export in 2011 amounted to 541 billion Dollars USA, which

accounted for 2.41% of world exports. Canadian exports exceeded pre-crisis 2008, when the

country’s exports amounted to 528 billion Dollars USA. The share of exports in GDP in 2011 was

31.1% per person in this axis export of Canada; this year amounted to 15,750 Dollars USA.

Summing up information from the graph Canada is good country for business because there are good

international relations with a huge export which can provide the growth of own business and it can

work with a partners from all over the world.

To consider all information from the report clearly visible that Canada is one of the best places of the

world to start new own business. Having showed excellence in the main business indexes scrutinized

by different scientists, this country can be considered to be the most attractive destination for

entrepreneurs and startups. There is highly developed infrastructure, high standard of living,

Government support, low cost of the utilities and vary low risk of attracting investment will provide

the best conditions for doing business in any industry. Industries such as machinery and equipment,

vehicle construction , manufactures goods, woo and paper industry are rather well-managed and

generate great profit for the organizations engaged in them. Constant improvements and innovations

make the situation even better. So, Canada is one of the best location to create new business and

improve it.

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 BIBLIOGRAPHY

1. "Canada - Export Canada." Canada - Canadian exports.N.p., n.d. Web. 09 Apr. 2015.

2. "Economy Canada." - Wikipedia.N.p., n.d. Web. 09 Apr. 2015.

3." Wikipedia." Wikimedia Foundation, n.d. Web. 09 Apr. 2015.

4. "General Information." Canada.ru. N.p., n.d. Web. 09 Apr. 2015.

5. "Statistics Canada: Imports, exports and trade balance of goods on a balance-of-payments basis,

by country or country grouping". Statcan.gc.ca. 2013-01-31. Retrieved 2014-01-31.

6. "Archived - Annual Financial Report of the Government of Canada Fiscal Year 2011–2012."

Government of Canada, Department of Finance. N.p., n.d. Web. 09 Apr. 2015.

7.  "The Canada-U.S. trade and investment partnership". Canadainternational.gc.ca. 2008-10-28.

Retrieved 2011-02-22.

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