Canada diversifies in economy and culture. It is the best country for entrepreneurs to start their business. Ethically, Canada is the right place to grow your business, and you can make fortune with tremendous opportunities. It doesn’t matter where you come from, as long as you have distinct skill, Canada will always be the haven for you and your business. In the following, you will find 5 industries that bring great profit in Canada.
1. Food and Accommodation Services
The food and accommodation service sector are amongst the elite business ventures in Canada. According to the government statistic, almost 70 % of the business made about $618,000 on annual revenue. Even though this industry required countless hard work, it also brings significant fortune to the entrepreneurs.
2. Real Estate and Construction
The second highest profit industry, once people meet their basic physical needs, they will turn to look for place to settle. That’s why real estate and construction industry is the second highest profit business in Canada. It is inevitable that people continue to migrate to Canada. Buying or renting places for own use or for business, the demand will always be there. Government statistic indicate that nearly 82% of the business made over $427,000 on revenue in 2018.
3. Transportation and Warehouse
The transportation includes passenger commute services and goods shipping. Good shipping is connected with warehouse to store those goods and products. A benefit to this industry is suitable for small business and gradually grow in times. Stats indicate that more than 86% of Small and Medium sized Enterprises (SMEs) in this industry made around $280,000 on revenue.
4. Administrative and Waste Management
With the economic growth in Canada, the increase in waste is an inevitable by-effect. This industry is not only about garbage trucks or office paperwork. It also involves cleaning services, office administrative services, waste collection and disposal etc. According to the government statistic, around 70% of the business engaged in this industry were SMEs. And the average avenue in 2018 was $336,800.
5. Professional and Consulting Services
This type of industry is suitable for those people who have unique or competitive skills. Such as marketing, accounting, legal advisor, scientific expert and management consultant. Those services are made to sell knowledge and expertise which is intangible and precious. Government statistic indicate that, almost 88% of SMEs in this industry profit $260,00 in yearly avenue.
To be the next entrepreneur success in Canada, you must be responsible for doing research before investing your money. And Touchdown Canada Immigration is here to provide you professional advice.
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