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This is for those who are migrating to Canada
12-24-2009, 02:48 AM
Post: #45
 
Hi Rizwan,

In fact Canada is a place for business. Businesses florish here much facter than employment. Generally it takes three years for a business to starts generating profits. But business needs a lot of money that most of our new immigrant don't have. A Star buck/Tim horton/Subway/Popeyes/Swiss Chellet etc franchise in GTA costs you about $400,000.00. If you start your on Halal store, it is really not an easy job because you have to keep checking expriy dates, compliance with health standards, vendor resouces, and on top of that rumours etc. Onces you settle down here and understand everything, I think it is a good option in the long run. The biggest risk of the business is the risk involved.

As far as credit history is concerned. It is much easy. Pay you bills before time, pay entire amounts payable, don't break your rental lease or mortgage agreements etc. If you are a new immigrants, don't apply for credit card from Stores. Just go to Capital One who will issue you a credit card or take secured credit card from TD Bank. Then use this card for at least one year. Every time your credit card application is declined, you loss your two points. Remember that your first year is always very taugh so please don't enter into any adventure.
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