Canada attracts many businesses because of its well-educated workforce, natural resources, free trade with major economies, reduced risks, and low operation costs. US businesses looking for quality and talented workforce should go to Canada. 62% of workers in Canada between 25 to 64 years old have completed post-secondary education. It is a country with the most educated workforce. Apart from providing the best workforce and talent, other factors mentioned above also play a significant role in making the country a great option for US businesses. Let’s look at some benefits of US companies hiring a Canadian workforce.
Hire Educated Workforce With Diverse Skill Sets
Canada is the most educated and developed country in the world. According to OECD data, 56% of the adult population in Canada has gone through post-high-school education. Since 2010, Canada has remained the top as the most educated country. The workforce in Canada is not only educated but also highly skilled. You have a high chance of hiring workers who can meet your company’s job requirements.
Enjoy the Economic Benefit
Employing Canadian makes financial sense because of the strong American dollar. The exchange rate can save your business between 25% and 35% when paying the Canadian workforce. You can hire more workers but end up paying less compared to employing the same number of US workforce. Canada can provide your business with a good environment for recovering from the pandemic.
Work With Diversity Tolerant Individuals
Canadians are tolerant of different diversities. They understand and respect cultural differences since they live in an ethnically heterogeneous country. Your company can access candidates with unique values, opinions, ideas, and perspectives. A diverse workforce can make your business innovative, creative, and effective in solving problems. You can meet the needs of diverse customers by allowing the employees to contribute their knowledge in reaching new market segments.
Benefit From the Income Tax Treaty
The income tax treaty may reduce your burden if your business is based in the US. According to the treaty, businesses headquartered outside Canada are required to pay income tax on profits earned from the operation. However, if your business does not have a permanent establishment in Canada, you may not have to pay operation tax. US companies hiring employees in Canada who do not have permanent establishments may benefit from a tax treaty.
Your Intellectual Property Is Protected
You won’t be afraid of idea theft when you hire employees from Canada. Canada has strong domestic IP laws and international alliances to strengthen its IP protection. Your employees cannot steal your ideas and register them as their own in Canada. If you hire Canadian workers, you are sure that your company’s proprietary materials are well protected.
Hiring in Canada
Many businesses are willing to take advantage of the Canadian workforce but do not know how to do it. The two main ways that most companies use are; hiring a new worker as a contractor or opening a Canadian office. When you hire a Canadian as a contractor, they might be in a long-term tax burden, especially if they do not understand the correct business reporting process with the Canada Revenue Agency. Opening a Canadian office may also be challenging for many firms.
The best solution for you is BrightR Limited. Your company can agree with BrightR Limited to hire a remote worker for you. The worker will be registered as a BrightR employee and provide his services exclusively to you. All you’ll need to do is provide the service fee. Contact us today and hire a remote employee without opening an office in Canada or hiring a contractor.
