As one of the world’s wealthiest countries, Canada has always been a great place to start a business. Despite uncertainty in the economy recently, this hasn’t changed. With more opportunities emerging than ever before, there are plenty of ways to make big money in the Great White North.
Before you get started, though, know this: when you get involved in any business opportunity, there is a degree of capital risk involved. As a result, it is a good idea to save up a pool of cash before you get started. While you can easily do this by working a part-time job, it helps to have more than one iron in the fire.
As side hustles go, playing on gaming sites for bonuses and jackpots such as the ones found on this site is definitely a fun way to raise money. With games ranging from blackjack to slots to roulette, you can monetize the cash you usually spend on entertainment – after all, you can’t win if you don’t play!
Once you have enough capital to take on an entrepreneurial venture, seriously consider one of the following niches with high-growth potential in Canada.
1) Renewable energy
Around the world, nations big and small are beginning to take massive action against climate change. The measures being taken include the imposition of carbon taxes, the banning of the sale of ICE vehicles as early as 2030, and the construction of charging infrastructure to support the adoption of EV’s.
This is bad news for Canada. A considerable portion of its economy here is based on the extraction of oil and gas, which leaves it vulnerable to the economic sea change that is now in motion. Fortunately, there is enormous potential to build renewable energy infrastructure throughout much of the country. The same prairie provinces where fossil fuels now dominate is home to some of the windiest and sunniest land in the country.
A monolithic focus on oil and gas for decades means solar and wind farms are severely under-built here, leaving room for businesses to lead a considerable build-out in green infrastructure.
2) Climate change resilient landscaping
Our rapidly changing global climate has Canada looking at a drier future. Because of this, traditional landscaping practices will become incompatible with the water supply realities many Canadian communities will face as we move deeper into the 21st century.
By becoming well-versed in the principles of drought-resistant gardening, you’ll be able to create beautiful front yards for customers that won’t wilt in the face of the stubbornly dry and hot summers Canada is expected to face in the coming years.
3) Locally sourced and created food products
For a variety of reasons, many consumers in Canada have begun to turn their backs on foods produced through traditional methods. Because of concerns surrounding food security, quality issues, and the enormous carbon footprint involved in shipping food from around the world, millennials, who represent an ever-increasing segment of this country’s population, are turning to locally sourced foods.
With every year that goes by, farmer’s markets get busier, microbreweries increase in number, and suppliers of items ranging from artisanal cheese to organic veggies get more orders. If you have an interest in food and drink, take your cue from these trends and ride this building wave.