Why do you need a business plan
Most immigration programs within the Business Class Immigration streams require an applicant to provide a business plan to support their application. Some business immigration and investor programs, on the other hand, require to submit only a business concept document at an early stage, followed by business plan at a later stage of their application.
The business proposal, business plans and business concepts submitted as part of Canadian business class immigration streams, owner/operator LMIA applications and Federal Self-Employed persons program are one of the most important components of your application.
Business plans help both the federal and provincial immigration offices to understand your intent, business idea and your strategy in setting up your business operations in Canada. Many of these business plans will be used by the provincial governments to set up specific targets (also known as performance targets) that your business will have to reach within a reasonable period in order to be eligible for permanent residence.
What your business plan is for
For example, ONIP – the Ontario provincial nomination program will require you to sign performance agreement with the government of Ontario. The performance agreement outlines the commitments that you must meet in order to be nominated for permanent residence. With a positive nomination from the province your immigration case is taken to the federal government, where, after processing, you receive your permanent residence in Canada. Your performance agreement will have specific requirements you will have to meet. These requirements will be drawn from both the program requirements and your submitted application, including the business plan. It is for this reason drafting a good business plan is crucial to the success of your application.
Your business plan should review in detail the proposed business in Canada. Your business plan should delve into your experience as an entrepreneur and outline the future strategic, operation, financial, marketing and sales plans. The plan should show both actual achievements and results, and must have solid projections and forecasts, supported by concrete research, including marketing and strategic research.
Moirai Reach Consulting’s pool of business plan writers will help you build solid business plan to make your immigration application as smooth as possible. Fill out the form below to receive a quote.
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