Important Considerations for a BC Business Plan for the Owner Operator Program

Important Considerations for a BC Business Plan for the Owner Operator Program

With a conducive climate for investment and plethora of business opportunities for foreign entrepreneurs, BC Canada offers the real deal. If you are willing to start a new business or purchase an existing one in BC, Canada, owner-operator program is your best foot forward. An application for owner-operator program along with a well-written BC Business Plan is all it takes. Read on…

LMIA Owner-Operator Program Owner-operator program as the name suggests is a special category for foreign entrepreneurs with a business in Canada. You don’t have to be a citizen or permanent resident to start a business in Canada. However, if you want to immigrate here to operate your business, you need to get a positive LMIA (Labour Market Impact Assessment) to receive a work permit.

Unlike the LMIA program, Owner-operator LMIA didn’t use to require the job advertisement or proof of not finding a suitable Canadian for the job. This made the process faster, especially if backed by a winning BC business plan. Though this has now changed and the owner operator program requires this, the BC business plan can still help you make a strong case.

A foreign entrepreneur can apply through the Owner Operator Program to get a work permit if s/he fulfills the following criteria – · Sole-proprietor or major shareholder of the Canadian business with 50.1%

shares. · In case of not holding the majority of the shares, the applicant must submit proof to demonstrate controlling interest in the business. · Must be involved in the day-to-day operations of the business like renting a space, hiring employees, an active website, negotiating contracts with the customers and so on.

The business must showcase a perspective in terms of benefitting the Canadian and local economy, which can be described thoroughly in the BC business plan. BC business plan being an integral part of the owner-operator program holds great value. Therefore, it is of utmost importance to consider various factors that are a must for this immigration pathway to work for your benefit.

Important Considerations for a BC Business Plan Every province in Canada has their specific eligibility criteria specific provincial Entrepreneur Pathways. For instance, in BC, the applicant must meet the following mandatory requirements. · A personal net-worth of CAD600,000. · Make an investment of a minimum of CAD200,000 in the business. · Demonstrate business or management experience. · Official documents proving the establishment of a new business or purchase & improvement of an existing one. · Create at least one full-time employment for a citizen or permanent resident. · Holds basic English/ French language proficiency equal to CLB 4.

Besides this, the legitimacy of the job offer is significant. Being the owner of a Canadian business, your prior experience in operating/ managing a business is crucial.

Thankfully, the owner operator program doesn’t have as strict of requirements as the BC PNP. The business plan is still just as – if not more – important if you plan to pursue the owner operator program in BC however.

If your application for the owner-operator program, supported by a well-drafted BC Business Plan gets selected, you will be well on your way to opening a business in Canada!

However, there are other considerations that may come into play. Things like what the first steps are that you will take to fully launch and grow your business. This is where

the BC business plan plays another important role, giving YOU direction.

When you sit down to complete the business plan it will force you to consider many of the aspects of how you will run the business. This essentially creates a roadmap for you when you actually begin.

So, if you feel you meet the eligibility criteria for the Owner Operator Program and have a viable business idea to get started in BC, Canada, don’t wait anymore. Get in touch with an expert and get your BC business plan drafted to get through the owneroperator program.