Canada has seen a significant uptick in successful businesses owned by newcomers. Between 2019 and 2021, immigrant-owned enterprises saw substantial growth in both number and revenue, outpacing their non-immigrant counterparts. Notably, immigrants who have been in Canada for 5 to 9 years showed the most marked increase in business ownership. Ontario is the hub for immigrant entrepreneurs, while British Columbia emerges as a hotspot for recent arrivals. The study also highlighted a 38% surge in newcomer-owned businesses earning $1-$2.5 million annually, indicating rapid scaling and integration into the Canadian business landscape.
