Qualifying business

For an entrepreneur or business applicants, it becomes essential to meet the business experience requirement. For a business to be efficient, it has to be a Qualifying Business, where at least two of the conditions have to be met as listed below-

  • full-time job equivalents are two or more
  • The annual sales sum up to be CAD $500,000 or more
  • At the end of the year, the net income is CAD $50,000 or more; and
  • The net assets sum up to be $125,000 or more at the end of the year
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