Canada Start-Up Visa Program Business Plan
Canada Start-Up Visa Program Business Plan
Who can apply for the Start-Up Visa Program?
To be eligible for the Start-up Visa Program, you must:
- Have a qualifying business
A qualifying business is defined as an incorporated business in which the visa applicant holds at least 10% of voting rights and the applicant and designated organization together hold more than 50% of the voting rights. - Meet the language requirements in either English of French
You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all 4 categories: speaking, reading, writing and listening - Have enough money to settle in Canada
The minimum amount required ranges from $12,960 for 1 person to $30,806 for a family of 6 (Canadian dollars). - Get a letter of support from a designated organization
A government-approved business group that will require a detailed business plan.
Who can apply for the Start-Up Visa Program?
To be eligible for the Start-up Visa Program, you must:
- Have a qualifying business
A qualifying business is defined as an incorporated business in which the visa applicant holds at least 10% of voting rights and the applicant and designated organization together hold more than 50% of the voting rights. - Meet the language requirements in either English of French
You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all 4 categories: speaking, reading, writing and listening - Have enough money to settle in Canada
The minimum amount required ranges from $12,960 for 1 person to $30,806 for a family of 6 (Canadian dollars). - Get a letter of support from a designated organization
A government-approved business group that will require a detailed business plan.
Canada Start-Up Visa Program Business Plan
Canada’s Start-up Visa Program is for immigrant entrepreneurs who are innovative and possess the skills to build businesses that can create jobs for Canadians and can compete on the world stage.
Unlike other immigration programs from the Canadian government, a major requirement of success of the application is the support and endorsement of an independent body, outside the government. To be considered for this program you must obtain a letter of support from a “designated organization” (a business group that has been approved to invest in or support possible start-ups). Any visa application under this program without a letter of support will be rejected.
Each of the designated organizations may have their own application requirements and their own criteria to win their support. This is where a business plan becomes an essential tool for a successful application.
A professionally prepared business plan from Bsbcon will maximise your chances of success in winning support from a designated organization. The experience and expertise of Bsbcon in immigration business plan creation will enhance your application under Canada’s Start-up Visa Program.
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The Benefits of a Start-Up Visa Program Business Plan from Bsbcon
A professional Start-Up Visa Program Business Plan from Bsbcon will support and strengthen your application to your chosen designated organizations and, on approval, offer a valuable tool to guide the start-up, growth and success of your Canadian business.
We will examine the precise requirements of your designated organization and produce for you a unique business plan, created from our wide business experience coupled with our expertise with Canada’s immigration visa programs. This will maximise your chances of a successful application.
The Benefits of a Start-Up Visa Program Business Plan from Bsbcon
A professional Start-Up Visa Program Business Plan from Bsbcon will support and strengthen your application to your chosen designated organizations and, on approval, offer a valuable tool to guide the start-up, growth and success of your Canadian business.
We will examine the precise requirements of your designated organization and produce for you a unique business plan, created from our wide business experience coupled with our expertise with Canada’s immigration visa programs. This will maximise your chances of a successful application.
Unique Application Processes to earn a Letter of Support
Each of the designated organizations is independent with its own application processes and assessments. Some specialise in particular business sectors or businesses located in specific parts or the country. They set their own investment limits which may be higher than the minimums specified in the Start-Up Visa Program.
Investors are looking for a profitable return on their investment. They seek to minimise their risk of losing their financial investment. You need to demonstrate in your application that your new business will become profitable, with a high degree of likelihood, and include all the assumptions and external factors used to make this case.
A Start-Up Visa business plan from Bsbcon will be created individually for your business and will be tailored to meet the requirements of your selected designated organization. It will be written to demonstrate the strength of your business proposition, highlighting what will make your company stand out from the competition and how it will become profitable within the required timescale.
Securing the Support of a Designated Organization
Designated organizations are business groups that are approved to invest in or support possible start-ups through the Start-up Visa Program. They include 3 types: venture capital funds, angel investor groups and business incubators.
It is possible to seek and receive support from multiple designated organizations however you will receive only one letter of support. If any venture capital fund is involved, then the minimum investment required from them is $200,000 – even if an angel investor is involved too.
Angel Investor Groups
There are 9 accredited angel investor groups. The minimum investment is $75,000. A professional business plan will be a huge asset when applying for funding.
Venture Capital Funds
There are 21 venture capital funds accredited to the Start-Up Visa Program. If you choose this type of organization you need to secure a minimum of $200,000 of investment funds. At this level of investment you will need a detailed and robust business plan to secure funding.
Business Incubators
There are 34 accredited business incubator schemes. They have a variety of application processes and eligibility criteria. Entry into these schemes is highly competitive. A business plan would routinely be part of the application.
Required Content for a Business Plan
To maximise your chances of success, no matter which designated organization you choose to apply to you need a compelling business plan to illustrate the potential for your business to be successful and profitable.
It is important to check the individual requirements and guidelines of the designated organizations you chose to apply to. However there are common elements that will required in most business plans:
An Executive Summary:
- This section is key to a successful application for support from one of the Canadian government’s designated organizations. This is what the reviewer will read first. It will demonstrate concisely and in a professional format that you have understood all the requirements for their support and funding. The body of the plan will demonstrate in detail how you meet those requirements.
A Description of your Company and Industry including:
- What your company does, including an overview of operations, what products will it produce or what services will it provide;
- Description of the industry segment, market size and growth rate, quoting relevant external sources;
- What are your company’s competitive advantages and barriers to entry, what makes you better than your competitors, how can you grow and protect your market share;
- Competitive analysis (including a description of direct and indirect competitors); and
- Organizational chart and a background description of the key managers including their responsibilities. The direct contribution and responsibilities of the visa applicant should be highlighted.
- What are the non-financial milestones to be reached that will indicate your are achieving your goals. These may include incorporation details, signing of property leases, ordering capital goods, or bringing in new investors.
Financial data:
- Any available historical financial statements;
- Most recent year-to-date results (if the business is already in operation);
- An opening balance sheet; and
- 5 years of forecasted projections, including all assumptions.
Financing proposal:
- Proposed ownership structure;
- Sources and uses of capital.
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