Province attracting investment from abroad to help small business owners sell their companies before retirement, and strengthen Ontario's economy
TORONTO, Feb. 22, 2023 /CNW/ - A new "Move for More" campaign is launching to market destinations outside the Greater Toronto Area as the best places for immigrant entrepreneurs to start or buy a business. Led by Ontario's oldest incubator, TBDC, the OINP Entrepreneur Success Initiative is an unprecedented push to attract global talent and business investment to Ontario by helping at least 100 immigrant entrepreneurs identify business opportunities in the province along with a commitment to invest at least $200,000.
Research from the Canadian Federation of Independent Business shows nearly three out of four business owners plan to retire in the coming years – and the vast majority have concerns about protecting their current employees and ensuring their business remains in the community.
Starting in February, businesspeople in countries including Singapore, China, the UAE, and India began to see advertisements promoting immigration to Ontario as an opportunity for entrepreneurs. Residents in Ontario cities including London, Hamilton, Brant, Belleville, Kingston, Sudbury, and North Bay will start to see billboards, radio ads, and digital advertisements highlighting the opportunity to sell their businesses to immigrant entrepreneurs when they're ready to retire.
"This initiative will help communities throughout Ontario attract talent and business investment from economic immigration," said Vikram Khurana, Chair of TBDC. "TBDC will leverage our international marketing experience to attract qualified entrepreneurs and help them select communities and business opportunities and create much-needed jobs and economic growth."
The program, exclusively focused on regions outside of the Greater Toronto Area, will create more local jobs in sectors including information technology, life sciences, and tourism while bringing new investments to cities and towns often overlooked by entrepreneurs.
The Move for More campaign is a rare chance for businesspeople from around the world to immigrate to Canada by starting a new business or buying an existing business in Ontario. These entrepreneurs will benefit from priority processing through the Ontario Immigrant Nominee Program (OINP) Entrepreneur Stream for a nomination for permanent residence and they will have access to TBDC's business advisory and facilitation services to actively match them with suitable opportunities.
"Our government is spreading good jobs and opportunity to every corner of Ontario," said Monte McNaughton, Ontario's Minister of Labour, Immigration, Training and Skills Development. "This innovative campaign will put Ontario on the map – in Canada and around the world – bringing millions of dollars in investments and well-paying jobs to our small towns and rural communities. Most importantly, it will help Canadian entrepreneurs find the financial security they deserve when they are ready to retire."
TBDC is Ontario's oldest incubator and has built a reputation for helping businesses innovate and grow through access to best-in-class mentorship, investment, and resources – and we are experts in economic immigration.
TBDC is an independent not-for-profit launched in 1990 by the City of Toronto and the Ontario Ministry of Economic Development, Job Creation and Trade. TBDC's mission has always been to support business venture formation, job creation, and economic growth.
TBDC's success is built on innovation, community building, and expert training – and recruiting a team of talented, passionate, and committed volunteer mentors. To date, TBDC has helped over 9,000 domestic and international entrepreneurial businesses establish in Toronto and Ontario.
SOURCE TBDC
Media Contact: Bryan Leblanc, TBDC, [email protected]
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