Some newcomers consider starting a business or becoming self-employed. In Canada, most self-employed people are professionals working as independent contractors (freelance), business owners, salespeople who work on commission, and farmers.
Before deciding to start your own business you should consider the advantages and disadvantages. Some advantages to owning your own business are the independence and freedom from routine, as well as the possible financial rewards if the business is successful. Some of the disadvantages of self-employment include less job security, no medical or dental benefits, and paying and preparing business taxes.
There are many ways for someone to become a business owner. Three common ways include starting a business from scratch, purchasing an existing business, or purchasing a franchise.
The Ontario Immigration website provides additional information about starting a business in Ontario for newcomers. Many documents are available in multiple languages.
Canada Business Ontario (CBO) provides business information and resources for entrepreneurs in Ontario, on topics such as business planning, market research, financing and other government programs and services. Many documents are available in multiple languages.