The Top 6 Struggles Canada’s New Immigrant Entrepreneurs Face in 2025
Canada remains a beacon of opportunity, drawing ambitious immigrants eager to launch businesses and chase their entrepreneurial dreams. Newcomer entrepreneurs—those in Canada for less than a decade—power over 7% of the nation’s enterprises, yet their path is riddled with obstacles. A fresh report from the Canadian Federation of Independent Business (CFIB), From Challenges to Opportunities: The Newcomer Entrepreneurial Experie... moreThe Top 6 Struggles Canada’s New Immigrant Entrepreneurs Face in 2025
Canada remains a beacon of opportunity, drawing ambitious immigrants eager to launch businesses and chase their entrepreneurial dreams. Newcomer entrepreneurs—those in Canada for less than a decade—power over 7% of the nation’s enterprises, yet their path is riddled with obstacles. A fresh report from the Canadian Federation of Independent Business (CFIB), From Challenges to Opportunities: The Newcomer Entrepreneurial Experience in Canada, sponsored by Scotiabank, uncovers the six biggest hurdles these trailblazers face. Based on insights from 14 immigrant business owners nationwide, this article cuts through the noise to highlight their struggles, impacts, and solutions—perfect for aspiring entrepreneurs, policymakers, and anyone tracking Canada’s economic pulse.
1. The Funding Fiasco: Why Cash Is Hard to Come By
Securing capital is a nightmare for Canada’s immigrant entrepreneurs. Most rely on personal savings, as traditional financing remains elusive.
The Credit Conundrum: No Canadian credit history? Tough luck. Banks sideline foreign financial records, leaving newcomers with high rates or outright rejection. Temporary residents face even slimmer options.
Grants Out of Grasp: Government assistance sounds promising but often excludes startups or demands complex applications newcomers can’t navigate.
Digital Disconnect: Online banking lags, forcing in-person visits that drain time and money.
Fix It: Banks like Scotiabank’s StartRight offer hope with no-history credit options, but more is needed—think tailored advice, pre-arrival services, and mentorship from immigrant financial experts.
