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Canada's business environment
Canada is a North American country renowned for its economic and political stability, and above all for its cultural diversity. According to the IMF, in 2023, Canada will record a growth rate of 4.5%. And according to Statistics Canada, the country ranks first in growth among G7 countries, despite the COVID.
This stability is favorable for people wishing to invest, immigrate or even study. Canada has free-trade agreements with over 50 countries, and is ranked 23rd in the world by the World Bank as an attractive place to invest. Indeed, the Canadian government continues to put in place various tax and legal frameworks to encourage not only innovation and competitiveness, but also social responsibility. Good places to do business include Toronto, Vancouver, Montreal, Calgary, the capital of Ottawa and the city of Gatineau. Gatineau is very close to the capital, a strategic location that separates the provinces of Quebec and Ontario by river.
The best sectors in which to invest are:
The energy sector: companies capable of finding, harnessing and storing energy for use by Canadians.
The materials sector: companies capable of producing materials and distributing raw materials. These companies need to focus on renewable resources, given Canada's social context and the realities of global warming.
Finally, the technology sector is considered one of the most promising sectors of the future. We're talking here about companies capable of creating revolutionary software and IT tools.
Which program to choose, given the current economic climate?
As a student, you sometimes ask yourself questions like "Will I be able to find a job with my program? It's perfectly legitimate to ask yourself this type of question. Based on the current economic situation, I've put together a top 5 list of programs to do at our faculty.
Disclaimer: I'd like to make it clear that this ranking is based on the current economic climate, as trends can change at any time. In addition to these courses, there are other interesting courses such as accounting, resource management and international management.
Bachelor of Commerce - Option in Entrepreneurship:
This program aims to train and support creative people who aspire to become entrepreneurs.
The program focuses on the financial, legal, strategic, organizational and marketing aspects of business creation. What's more, these students will benefit from professional networks, coaching and, in some cases, financing to help them create their own business. According to Statistics Canada, the rate of business start-ups in Canada will be 4.1% in 2023. The most dynamic sector is programming, with a start-up rate of 6.7%.
Bachelor of Commerce - Option in Finance:
This program is designed to train people who aspire to work in the world of finance.
Theoretical courses on portfolio management, financial management and many others are offered. It also helps students prepare for professional certifications such as CFA (Chartered Financial Analyst) or FRM (Financial Risk Manager). According to the Conference Board of Canada, the Canadian financial sector contributed 7.5% to the country's GDP in 2023, and employed over 800,000 people.
Bachelor of Commerce - Option in Marketing:
This program is designed to train future marketing professionals to design, implement and evaluate effective marketing strategies to attract as many customers as possible. Theoretical and practical courses covering the entire marketing field are offered. According to eMarketer, digital advertising spending in Canada will reach 9.5 billion in 2023. Marketing-related activities are expanding rapidly.
Bachelor of Commerce - Option in Business Technology Management:
This program offers theoretical and practical courses covering the fields of information systems (IS) analysis. It also introduces students to cutting-edge technologies such as cloud computing and big data. According to Statistics Canada, the information and communications technology sector will be worth 210 billion Canadian dollars by 2023.
Bachelor of Commerce - Complementary Option in Business Analytics: The BCom offers a complementary option in management analytics, which can be combined with any option in the program (accounting, finance, marketing, etc.). This option enables students to develop the skills needed to become a specialist in data analysis and exploitation.
Model entrepreneurs
As mentioned above, Canada is a country that encourages entrepreneurship through legal and fiscal levers. We're going to talk about 2 model entrepreneurs, and they're former students of our Telfer Faculty of Management! We're talking about Tobi Lütke and his partner Harley Finkelstein.
Tobi Lütke is the founder and CEO of Shopify. Shopify is an online commerce platform. Tobi was born in Germany and moved to Canada in 2002. He is passionate about IT. In 2004, he decided to create an online store to sell snowboards. He then realized that there was no satisfactory solution for creating and managing an e-commerce site. So he decided to develop his own platform, which he named Shopify. Since then, Shopify has become a leader in its field.
Another example of a model entrepreneur, who trained in business at Telfer, is Harley Finkelstein, President of Shopify, the world's most popular e-commerce platform. Born in Montreal, he moved to Ottawa in 2005 to study law at the University of Ottawa. He also completed an MBA program at the Telfer Faculty, where he met Shopify founder Tobi Lütke. He then joined the Shopify team as Director of Business Development, and helped grow the company from strength to strength. He became Shopify's president in 2015, overseeing the company's operations, sales, marketing, customer service and partnerships.
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