Small Business IDEAS in Canada
Are you an entrepreneur or investor? Do you need information on the best business investment opportunities in Canada for 2017? Then I advice you read on.
Whether you are planning to start a small business in Canada or a big one, the key to success is to identify a need that people are willing to pay money to fulfill and then offer products and services that fulfill that need. This trick works everywhere including Canada and fetches huge profits, even during recessions.
1. Engineering firms
Structures are collapsing due to old age. Water systems are deteriorating. Sewage is poorly treated. All of these are providing great business opportunities for engineering firms capable of handling these problems. There’s also an increasing demand for related technologies that help to prevent these problems by discover them early enough.
2. Mobility products
Just like in the US, baby boomers make up a large chunk of the Canadian population, with many of them around 65. For this reason, there’s increasing demand for mobility products such as wheelchairs, walkers, canes, and stair assists. So, a smart bet is to combine these products with related services such as bathroom renovations suitable for seniors.
The increasing number of senior baby boomers has also provided increased business opportunities for senior care. Examples of such opportunities include in-home care and senior residences. Related opportunities include driving, delivery, catering, and cleaning services for seniors. You can start your own business providing services for seniors or consider buying a franchise if available.
4. Medical and assistive technologies
Because more healthcare practitioners are appreciating the value of healthcare IT products, smart devices, and diagnostic products that can provide better health care services at cheaper cost, there is increasing demand for these products.
So, there’s a good business opportunity in supplying these technologies and training people how to use them.If you have a good background in programming, a good idea is to create an app that solves a medical problem or eases the task of healthcare practitioners in a one or many ways.
5. Pets
Like Americans, Canadians love pets especially dogs; and make caring for and pampering them a spending priority. Even during recessions, dog businesses in Canada don’t feel the heat. You don’t have to be a vet to start a business that caters to dogs and other pets. You can sell kennels, start a doggie daycare, open a dog snacks bakery, open a dog resort, start a dog walking or dog grooming service, etc.
E-commerce has not stopped growing in North America as a whole. E-commerce in Canada is now worth more than $15 billion, with more than half of Canada’s population buying goods and services they need over the internet. According to Statistics Canada, the average individual in Canada placed over 10 orders and spent over $1, 300 in 2012. These statistics are just enough to prove that ecommerce businesses could be very lucrative for those who can identify the right products to sell.
Interestingly, the high-end segment of the retail economy doesn’t suffer even in harsh economic conditions. Many people in Canada are willing to spend their money on premium products and services that matter to them. Luxury products like women’s handbags, scarves, and shoes are selling well, and the same runs true for high-end men’s products. A good idea is to combine luxury products with e-commerce.
With the ever-increasing number of smartphone users looking to do virtually anything with their devices, there’s no limit to the profit that mobile app developers can make in Canada. Even businesses are now developing their own branded apps, and this opens even more opportunities for mobile app developers.
A lot more businesses in Canada are becoming aware of the advantages of cloud computing and are using it for storing information and doing a lot more ‘stuff’. Big businesses led the way initially, but even small businesses are now feeling less afraid to put their data up there. So, there’s a big business opportunity in cloud migration, helping businesses switch from on-site data storage and applications to cloud-based solutions.
Seeing this on the list may make you shake your head. But remember that business opportunities lie in fulfilling people’s needs. Hair salons are always relevant. No matter how grim the economy looks, women will still scrape together the money they need for getting their hair done and looking better.
