10, 000 $ would be enough?

[betty1]

Hello, I am planning to open my own business in Toronto. I am resident. Business will be based on service providing, doing home-repairs and furniture. Therefore, I guess wont be that expensive to start. What you would think 10-15 000 $ would be enough? One more thing, i want to bring one or two employees from outside of Canada? I know them and their experience. Reliable people. Would that me possible?

 

[Bs65]

Hello, I am planning to open my own business in Toronto. I am resident. Business will be based on service providing, doing home-repairs and furniture. Therefore, I guess wont be that expensive to start. What you would think 10-15 000 $ would be enough? One more thing, i want to bring one or two employees from outside of Canada? I know them and their experience. Reliable people. Would that me possible?

i think you need to read about the LMIA process and how many years you might need to demonstrate a successful business.

Starting a business with 10-15k would hardly be considered a business that initially would be significant enough a startup to employ anyone from outside the country so you should consider that as a long term plan until you can demonstrate some major turnover.

If it were so easy with so little capital then people would be doing the same thing to get people into the country.

 

[scylla]

Hello, I am planning to open my own business in Toronto. I am resident. Business will be based on service providing, doing home-repairs and furniture. Therefore, I guess wont be that expensive to start. What you would think 10-15 000 $ would be enough? One more thing, i want to bring one or two employees from outside of Canada? I know them and their experience. Reliable people. Would that me possible?

You won't be able to bring employees from outside of Canada immediately. You'll most likely need to wait a year until you have filed tax returns and can demonstrate income. To bring the employees over, you'll need to obtain approved LMIAs. This process will require you to advertise the jobs first to prove no Canadian could be found for the role. Expect the overall LMIA process to take 4-6 months to complete with no guarantee of approval.