Tag Archives: Buy a Business in BC

Buying a Business – Immigrant Success in BC

As many BC business owners retire, a growing number of opportunities are emerging for individuals buying a business in British Columbia.

Business Finders Canada recognizes that talented immigrants arrive in Canada every year with extensive business experience and financial resources. Immigrants often face challenges in securing traditional employment due to a lack of ‘Canadian Experience.’ Business Finders Canada offers immigrants the opportunity to buy a business and embark on a new career journey in Canada.

Business Immigration Program

The Business Immigration Program is designed to attract seasoned business professionals to Canada; individuals who can contribute to the growth of a robust and prosperous Canadian economy.

Regulations govern immigrants seeking to establish or expand businesses in British Columbia. There are numerous programs available to help investors obtain the necessary permissions to buy a business. Through these programs, it is possible to speed up the process of obtaining permanent resident status, enabling immigrants to engage in business activities.

Immigrating to BC – Buying a Business

British Columbia facilitates the selection of candidates who can bring the highest value to the area. This streamlines the process of identifying potential investors who will make significant contributions to the local economy.

Business Finders Canada works with immigration consultants to assist entrepreneurs immigrating to British Columbia in finding a suitable business to buy tailored to their background and preferences. We possess expertise in navigating these programs and have a successful track record of assisting immigrants through the Entrepreneur Programs.

British Columbia’s Business and Investor Immigration Programs

If you are a business person or manager seeking to immigrate to Canada, the Business/Investor Immigration Program could be a crucial fast-track immigration pathway for you. This program aims to attract individuals with business and managerial experience who can make significant contributions to the Canadian economy.

The primary requirement for this program is that the foreign national must own a business in Canada and hold a controlling interest of more than 50% of the shares.

Other Requirements

  • A comprehensive business plan demonstrating funding strategies and job creation/maintenance
  • Active involvement in business management, not passive investment
  • A position matching the foreign national’s qualifications and experience, with a wage at or above the median wage for the role
  • Employing at least one Canadian or permanent resident, ideally within the first year as outlined in the business plan

Note: These requirements are applicable across Canada.

Are you an immigrant interested in buying a business or investing in a business in Canada? Contact us today. Kelowna Office: 1-250-491-1111 – Toll-Free 1-888-377-8009. Fill out our contact form. View our listings here.

Selling a Business – Opportunity for Entrepreneurs

As Canada greys, more business owners are looking to sell

This is an unprecedented time in Canadian business.

Businesses are starting to change hands; passing from a greying Canada into the hands of a younger generation.

study done by the Business Development Bank of Canada points to a massive turnover in the ownership of small businesses over the next five years.

“Four out of 10 entrepreneurs in Canada plan to step away from their businesses,” says BDC.

“Small and mid-sized business owners are older than the rest of the workforce.”

Consider this: Canada’s median age has climbed from 35 years in 1996 to 41 in 2016, and will reach 44 in 2031, according to Statistics Canada.

Look at a few more numbers:

  • Almost 60 percent of those who own small and mid-sized businesses are 50 or older.
  • Four out of 10 entrepreneurs in Canada are likely to leave their businesses within the next five years, up from one in three in the mid-2000s. The main reason is retirement.

That means the opportunity is knocking for both sellers and buyers.

It also means business owners will have to face tough decisions.

As they think about retirement, they will have to consider their exit strategy, which could include family succession, a management buyout, a sale to a third party, and the worst-case scenario of winding down the business and selling off the assets.

“One overriding message is clear from our research: succession planning is not easy, and it requires more time and more resources than most business owners might expect,” says BDC.

“As with selling a home, the business may require some ‘staging’ to make it more attractive to buyers. Those willing to put in the necessary time and effort are likely to be well rewarded.”

A professional business broker can make a big difference in whether a seller will succeed. We’ve helped hundreds of people through this process and can help you prepare for sale.

We’ve also helped hundreds of entrepreneurs achieve their dream of buying a business.

Selling and buying a business is a complicated process.

Together, the brokers at Business Finders Canada have more than 200 years of experience in the industry.

More and more people turning to a business broker for expert advice on all kinds of issues, including properly valuing their business and getting ready to go on the market.

When it comes down to it, buying a business is one of the most important decisions you’ll ever make. Business Finders Canada is here to help.

More information about business brokers.

What kind of business should I buy?

Buying a business is one of the most important decisions you’ll ever make – and one not to be rushed into.

There are several options open to you.

It’s important you do your research to make sure you’re buying the right type of business for you and that you pay the right price for it. At Business Finders Canada, our professional business brokers will help you throughout the process.

Buying an existing business may be better for you than starting from scratch. The main reasons are it can take you twice as long and it can cost twice as much to start a brand new business.

Some of the benefits of buying an existing business include:

  • Immediate sales – As soon as the deal closes, you could be generating income from the first day, if customers are invoiced.
  • Easier to get credit – Banks are more comfortable lending to existing businesses.
  • Staff and systems – It can take many months to find and train employees and set up processes to operate a business.

Once you’ve established that buying a business is the right road for you, it’s time to decide what kind of business is right for you: a franchise or an independent business.

There are pros and cons to both.

Franchise

Generally, franchises have a proven concept. They are established businesses that have grown successful enough to require more locations. That also means they have an existing customer base that’s familiar with the brand.

Franchises often come with help for setup and training. The parent company already has things like equipment, uniforms, and advertising in place, saving time and money developing your own.

On the negative side, there are rules and regulations to follow, so you won’t have total autonomy. You’ll also have to pay a percentage of the revenues to the parent company.

Independent Business

With a traditional business, you’ll have much more control over rules and processes. There are no fees to pay and the revenues will stay with you.

You set the direction of the business, which means that you can be more flexible in taking advantage of opportunities that open up in the market.

However, the risk can be greater, too. The fate of the business rests entirely on your shoulders.

When it comes to deciding what type of business is best for you, it’s important to evaluate your background and characteristics.

Ask yourself what kind of risk you’re comfortable with, what industry your skillset best lends itself to, and how well you can manage people.

At Business Finders Canada, we’ve developed a proprietary buyer profile that will give you a greater chance at success. Contact us for professional and experienced help.

For experienced advice on buying a business that is right for you, contact Business Finders Canada now at 250-491-1111. Search our business listings for sale.

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Online: Canada Business Network