Canada features a very diverse and competitive economy, being an OECD country. Furthermore, it also happens to be one of the easiest countries to start a business in, being #2 after New Zealand. The country also has a relatively high level of income, with a median income level of $43,660. Comparatively, the country also offers an easy system for paying taxes and resolving insolvency.
Canadian Advantages Over Other OECD Countries
Canada also has a few other advantages over other OECD countries. First, Canada is politically stable. Recent studies have ranked the Canadian banking system as being the most stable one in the world. This confidence in the banking system creates an atmosphere where you are able to grow your business. There are also fewer banks, but they are very well regulated.
NAFTA Membership Creates Opportunity For Trade
Canada is also a member of the North American Free Trade Agreement which allows you to have duty free access to the United States and Mexican markets for many products. NAFTA aims to create opportunity for investment and growth throughout North America. NAFTA also means lower prices for Canadian companies and consumers.
Natural Resources Abound in Canada
Canada is also known for being an abundant source of natural resources. Coal, silver, iron ore, natural gas, gold, copper, and timber all count among the natural resources that can be found within Canadian borders. Canada has a entire government department established to ensure that the natural resources are managed appropriately, and they also help out with mapping and remote sensing to identify new sources of natural resources.
A Bilingual Population With English and French
Canada also has a bilingual population, as people speak both English and French. This positions Canada for being in a great place to conduct business throughout the world. Many emerging economies in Africa speak French, which means that you will have a source of native French speaking Canadians whom share the same language as people in emerging markets.
Transparent Regulatory Environment
The Government of Canada is also very transparent with the regulatory environment. For you, this means that regulations and other procedures related to the government are fairly simple to deal with and understand. Many other places have a regulatory mess which can be very dfificult to understand and manage.
Manufacturing, services, and natural resources are the dominant industries, with Royal Bank of Canada being the largest company. The benefit of this is it creates a diverse set of industries. A diverse set of industries means a economy with opportunity for your business to make a mark upon the Canadian economy.
Consider Services of a Realtor to Assist in Finding The Right Place To Live
Many whom relocate to Canada often consider the services of a REALTORŪ for assistance in locating a new property. A REALTORŪ can be a great resource because of the expertise that this individual has on which neighborhoods are safe and which places are generally desirable to live in.
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