Low Language Threshold

Candidates for the ESI require language ability in English or French at minimum Canadian Language Benchmark 4 in reading, writing, listening and speaking. This is significantly lower than other entrepreneur and skilled worker streams offering permanent residence to Canada.

Lower Personal New Worth

The required net worth through the ESI is $400,000, just half of the $800,000 needed under the main Ontario Entrepreneur Stream. It means that the program is open to a much wider range of candidates who can qualify to come to Canada and start or buy a business.

The minimum required investment is also significantly lower, at $200,000 compared to $600,000 for the OES. The ESI is a more affordable, easier way to get to Canada as an entrepreneur.

Fast Processing Times

Ontario is committed to approving work permits in under 12 months for qualifying candidates. Once in Canada on a work permit, candidates can then begin establishing or taking over their business. If they meet all the requirements, candidates can become permanent residents within 20 months. 

Quality of Life is High Outside the GTA

The OEIS looks to attract entrepreneurs outside the Greater Toronto Area. Some of Canada’s most sought-after places to live are outside the GTA.

The cost of living is low and quality of life is high outside the GTA.

If big city life is still what your are after, there are plenty of options outside the GTA. These include Ottawa, Canada’s capital city, the technology hotbed of Kitchener-Waterloo and Kingston. 

There are some great places to live and build a business outside of the GTA.

Entrepreneurs Get Help Along the Way

The Entrepreneur Success Initiative is managed by the Toronto Business Development Centre, whose team of experts will help foreign investor every step of the way.

The TBDC will assist in either helping an investor find the right business to buy, or identify new businesses that will benefit a community outside the GTA.

TBDC experts will help interested candidates prepare their expression of interest application for submission to the Ontario Immigrant Nominee Program.  Once approved, OINP will nominate entrepreneurs and their dependents for permanent residence at the end of the 20-month period.

The TBDC works with both candidates and Ontario business owners who are looking to sell their operations.

Mentorship and Support

Another advantage of the ESI is that it offers mentorship and support to entrepreneurs. The program has a network of experienced mentors who can provide guidance and advice to entrepreneurs. These mentors can help entrepreneurs navigate the challenges of starting and running a business and provide insights into their industry. Additionally, the ESI offers workshops and training programs to help entrepreneurs develop their skills and knowledge.

Networking Opportunities

Entrepreneurs need to build strong networks to succeed in their ventures. The ESI provides networking opportunities for entrepreneurs to connect with other entrepreneurs, investors, and industry experts. These connections can help entrepreneurs build partnerships, find new customers, and learn from others’ experiences. The program also hosts events where entrepreneurs can showcase their products and services and meet potential investors.

Access to Resources

Starting a business can be overwhelming, especially for first-time entrepreneurs. The ESI provides entrepreneurs with access to resources, such as market research data, business planning tools, and legal advice. These resources can help entrepreneurs make informed decisions about their businesses and avoid costly mistakes.

Increased Visibility

Entrepreneurs who participate in the ESI program can benefit from increased visibility. The program promotes its participants’ businesses through its website, social media channels, and other marketing channels. This increased visibility can help entrepreneurs reach a broader audience and attract new customers.

In conclusion, the Ontario Entrepreneur Success Initiative provides many advantages to immigrant entrepreneurs in the region. From access to funding and mentorship to networking opportunities and resources, the program can help entrepreneurs start and grow successful businesses. If you are an immigrant considering entrepreneurship in Ontario, consider the ESI and see how it can help you achieve your goals.