Canada enjoys a strong economy and as such, continues to attract immigrants and business people from the different parts of the world. There are many reasons why this country is the best place to start or expand a business. Canada takes pride in its rich natural resources, lowest tax rate on business investment, best debt-to-GDP ratio and for having the best banking system worldwide.
Recent surveys and studies have shown that this North American country is on top of the list as the most ideal place to obtain an education, put up a business, raise a family and lead a healthy life. In 2011, Forbes ranked Canada as the best country to do business.
In terms of attracting investors, one of the top attractions of Canada is its low tax environment. Tax rate in the country is among the world’s lowest. From 43 percent, federal and provincial taxes have been reduced to 25 percent.
Starting a business
Immigrants and foreign investors who want to set up a business in Canada need to do some research first about the industry they wish to enter and the existing government guidelines. This will enable them to plan well for their enterprise and make sure that they’re adhering to the laws.
Among the country’s provinces, Alberta boasts of diverse industries that provide great opportunities for doing business. Each year, it hosts more than four million tourists from the various parts of the globe.
The Business Link, business information service of Alberta and Service Alberta are some of the agencies that help small business owners start and grow their enterprises. They advise entrepreneurs on the proper steps to take to ensure that they have a legitimate and profitable business.
Need for insurance
As you start offering your products or services in the province, one priority that should not be taken for granted is obtaining an Alberta business insurance. Regardless of the size of your business, you need to have some form of protection in case something goes wrong. Accidents can happen but if you have the proper insurance, the provider will take care of your expenses.
Insurance protection for businesses comes in various types. The valuable papers insurance is meant for protecting important documents related to your accounts receivable and other records.
Crime insurance will protect your enterprise in the event a burglar gets in your office or store and steals some expensive and important items or equipment.
The business interruption insurance, on the other hand, will help you recover your cash flow in case your business fails to operate for a certain period of time. It should be noted, however, that the cause of not being able to continue normal operations should be covered by your policy.
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