In recent years, Canada has witnessed a troubling trend: immigrant entrepreneurs are leaving Canada for more supportive countries. This exodus is not just a personal choice but a reflection of systemic challenges within Canada’s entrepreneurial landscape.

In a recent article by Noushin Ziafati, immigration lawyer Kyle Hyndman shared his insights on the challenges facing immigrant entrepreneurs in Canada. He emphasizes the limitations of the Startup Visa (SUV) program, which he describes as “really limited and hasn’t performed.” Since its inception in 2013, the program has granted permanent residency to only about 900 entrepreneurs, far fewer than its predecessor, the Federal Entrepreneur Program. Kyle points out that provincial nominee programs (PNPs) are also restrictive, often locking entrepreneurs into rigid business plans that stifle adaptability.

Kyle warns that Canada’s recent decision to reduce immigration targets, including capping the SUV program to 800 applications per year, will have dire economic consequences. “There’s no question it’s going to hurt our economy,” he states, highlighting the risk of near-zero population growth.

The Canadian government’s efforts to support entrepreneurs through funding and development programs are acknowledged, but many, like Kyle, argue that more needs to be done. The current system, he says, provides more pathways for temporary work permits than for permanent residency, posing a risk for those seeking long-term stability. To counter this brain drain, Kyle suggests that Canada must overhaul its approach to supporting immigrant entrepreneurs. This includes creating more realistic and flexible pathways to permanent residency and fostering an entrepreneurial culture that values bold, high-risk ventures.

Listening to the voices of immigrant entrepreneurs is crucial. Their feedback could be the key to transforming Canada into a thriving hub for innovation and entrepreneurship.

To read the complete article click here

MKS Immigration Lawyers are ready to assist with your immigration to Canada. For answers, guidance, or legal support, schedule a consultation with Kyle Hyndman or another team member. Click here to book a consultation.