Business Insider, a US media resource, writes about a new popular trend in the North American IT market: more and more programmers move from Silicon Valley to Canada. More and more companies, including Facebook, Google, Lever, Postmates and Tile, have opened offices in Toronto.
The publication cites several reasons including high real estate prices in the United States and a tight migration policy that force global IT players to look for alternatives to attract foreign professionals.
Ukrainian companies should not stand aside global trends and actively seek opportunities for cooperation with the Canadian IT sector. Olga Shtepa, CUTIS Project Coordinator, highlights five key reasons why Ukrainian companies should start business with Canada.
- Growing demand for IT professionals in Canada
About 300,000 jobs have been created in Canada’s IT industry over the past 15 years.
The Information and Communication Technology Council of Canada (ICTC) estimates that Canada’s IT sector will need 216,000 skilled employees by 2021. At the same time, Canada will not be able to meet this demand on its own with its university graduates and migrants involved. Consequently, the role of IT services exports and outsourcing is growing.
- Market stability
With growing protectionism in the United States and significant restrictions on immigration policy, many employers there have faced problems hiring staff. Instead, Canada, known worldwide for its loyal immigration policy, is implementing the Global Talent Stream Program, which allows IT professionals from all countries to obtain visas under a simplified procedure. Relatively cheaper costs of housing in Canada and the high social standards guaranteed by the government can be added to that.
- High wages
Employees of IT companies in Canada earn about 80,000 Canadian dollars a year, which is 61% more than the economic average. During 2011-2016, the average salary in the IT sector grew faster than in other sectors of the economy – by 13% compared to 8.7%.
- The Corona effect: growing need for IT services
The world has faced an unprecedented situation where all economies, without exception, have been put on hold due to the pandemic. As they say, however, it was a blessing in disguise. Most services are provided online, and a new format of work from home is practiced around the world. For example, Facebook allowed employees to work from home until the end of the year, and Twitter does not plan to resume work in the office. This, in turn, has led to a significant increase in demand for services such as telehealth, distance learning, logistics, financial settlements and more – all this against the backdrop of the skyrocketing demand for cybersecurity services. In combination with the above advantages, the Canadian market creates unique opportunities for the development of IT companies, including those from Ukraine.
- Entering the North American market through Canada
Canada is perhaps the best country to fulfill the dream of many companies – to enter the global market. All of the above, however, does not mean that the road to the Canadian market is scattered with flowers.
As Canada is a global market, it will be necessary to compete not only with Canadian companies, but also with foreign players trying to get their piece of pie in the Canadian market.
High competition automatically means a high “bar” of market entry – it is necessary to comply with international standards, classifications and, finally, language requirements.
So we wish you not to miss the chance and use the existing opportunities wisely.