Saskatchewan has a strong and growing economy, offering opportunity for prosperity to newcomers.
The Saskatchewan economy is built on the hard work of enterprising and innovative entrepreneurs. From farm operators and technology based start-ups, to artists, retail trades and hospitality services, Saskatchewan is a great place to make your ideas and business grow.
When establishing a business or purchasing an existing business, it is important to have professional business advice. This is important to ensure that you are paying a good price for your business, and that the business has a good chance of being profitable. This will also protect you from business risks that you might not be familiar with.
It is recommended that you have an accountant or a certified business valuator to review the financial statements of any company that you plan to purchase. In Canada, it is normal practice that the buyer and seller in a business sale each have their own real estate agent. If you are purchasing a business, it is normal practice that you would have a real estate agent working just for you. You have the right to request this.
Having a professional business service provider, such as a commercial lawyer, commercial real estate agent, investment advisor, banker, or accountant, means that you will have professional advice about doing business in Saskatchewan. These people will be interested in your success, and will help you have what you need to prosper in your business. Your success is your responsibility; but having good advice from people who understand the business environment in Saskatchewan will make a difference.
If you choose to establish or purchase a business that is not stated in your Business Performance Agreement (BPA), please contact the Entrepreneur Program to renegotiate the terms of your Business Performance Agreement. You will be asked to provide details on your proposed business, including the names and contact information for the professional business service providers that have advised you on the purchase or establishment or your new business.
There are also many public agencies that provide free services to entrepreneurs. Please find the list of contacts on this website at: www.saskimmigrationcanada.ca/business-advisory-services/.
Succession
Many business owners in Saskatchewan will retire in the next five to ten years. A leading business organization, the Canadian Federation of Independent Business (CFIB) has stated that 71% of business owners will plan to exit ownership or transfer control of their business by 2015.
This means there are many opportunities to purchase viable and active businesses with good cash flow in Saskatchewan, and in some instances, the existing owners will be available for a period of time to help the new owner understand the business.
Partnership with First Nations and Metis Business People
Saskatchewan is home to a growing and vibrant First Nations and Métis community The young and growing population of First Nations and Métis children and youth is potentially Saskatchewan’s greatest asset in new entrepreneurship and business opportunities. The Saskatchewan Immigrant Nominee Program (SINP) has created a provincial nominee program stream that will encourage the continued economic development of the First Nations and Metis community while partnering with newcomers that bring unique skills and innovative business ideas, as well as ensures that all of Saskatchewan’s residents benefit from the province’s strong and growing economy.
Our Competitive Edge
- Our spirit of innovation has transformed Saskatchewan to a powerhouse of thriving economic sectors, such as Advanced Technology, Agri-value Production and Processing, Manufacturing, Minerals, and Oil and Gas.
- Our central location with excellent transportation services to North American and offshore markets makes it easy to ship products across the continent or around the world.
- Our workforce is one of the best educated in the country – 58% of employees have at least some post-secondary education.
- Saskatchewan is committed to publicly funded health care, and no medical insurance premiums. We are a world leader in health programs, systems and technologies.
- We are ranked among the highest-educated people in the world, with an education system featuring:
- Free elementary and secondary schools education
- Two world-class universities
- Four skills-training college campuses
- Numerous private schools and regional colleges (adult and post-secondary education)
- We enjoy a low cost of living where excellent housing is still affordable, even in our major cities.
- Residents enjoy a comfortable lifestyle in peaceful, secure communities.
