Newcomers Embrace Entrepreneurship to Shape Their Future in Canada
By Roshan Jhunja
Whether offering a service, opening a restaurant or setting up a convenience store, starting a business takes courage, drive, and a willingness to take risks.
These attributes are also shared by new immigrants who are willing to leave behind their familiar past in order to build an unknown future in Canada.
Passion and work ethic alone, however, aren’t enough for newcomer entrepreneurs looking to build and scale their businesses. They need financial support, affordable real estate, mentorship and help navigating unfamiliar regulations in a new country. Their ambition to grow and create jobs needs to be fully supported to ensure their entrepreneurial goals become reality.
Consider the critical importance of entrepreneurship on the Canadian economy: According to Statistics Canada, in 2022, small businesses made up 98 per cent of all employer businesses in Canada, and employed 10.7 million individuals, which is almost two-thirds of the country’s total labour force.
When it comes to entrepreneurship, newcomers stand out. They are nearly twice as likely to increase their workforce and 68 per cent plan to expand compared to only 47 per cent of long-term Canadian business owners. These findings are from Square’s landmark Entrepreneurial Spirit of Newcomers Report, which reveals how owning a business is transformative for the vast majority of newcomer entrepreneurs. Not only does it help them secure financial stability and build meaningful careers, but it also accelerates their sense of belonging in Canada. More than that, newcomer entrepreneurs enrich the communities they serve.
Take Gabriela Rivera Chang, for example, who launched Rituales Holistic Wellness Clinic in Montreal with the goals of maximizing her earning potential, building a fulfilling career, and helping her community. Rivera Chang’s desire to support others extends to hiring fellow newcomers and helping them find their footing in the country, while also building a diverse and resilient team.
Yet the road to success isn’t without its hurdles. More than half of newcomer entrepreneurs face difficulties accessing funding or capital, and many struggle to find affordable commercial space. Regulatory challenges further complicate their efforts to grow.
When Fabiana Del Bianco, co-owner of Padaria Toronto, arrived from Brazil, she had to navigate an unfamiliar regulatory landscape—understanding permits, securing real estate, and essentially starting from scratch. Despite these obstacles her bakery has flourished, contributing to Toronto’s culinary scene while also showcasing the resilience of newcomer entrepreneurs.
It’s clear the impact of entrepreneurship cannot be overstated. Before starting their businesses, over a third of newcomers reported dissatisfaction with their work, and one in four felt underemployed.
By turning to entrepreneurship, newcomers aren’t just creating success for themselves—they’re driving the economy forward while bringing innovation, dedication and resilience along with them.
As the report makes clear, while newcomers have the ability to turn challenges into opportunities, they face specific obstacles that hinder their potential. At critical junctures in their entrepreneurial journey, newcomers deserve dedicated support that can ensure their businesses not only survive but thrive.
Roshan Jhunja is head of business solutions at Square. Jhunja has an extensive background in quantitative finance and investment banking, bringing a unique perspective to retail technology. At Square, he has been instrumental in empowering businesses of all sizes, providing them with innovative hardware and software solutions.
