I recently gave a talk to a large group of immigrants from India at a local temple. Most had been in Canada for some time but there were a few who were recent immigrants -less than 2 years. To a person, they all wanted to have their own business.
The reasons were varied, several could not find any type of job (they didnâ€™t have Canadian work experience), some wanted a lifestyle they could enjoy and self employment was the way to go. The overwhelming reason, however, to be their own boss was because they could not find a job in the field of work they had in India. I think the country isnâ€™t relevant; the overwhelming problem seems to be that people educated abroad canâ€™t find employment in their areas of expertise. They accept jobs that are, in most cases, lower paying and certainly not what they wanted or were trained to do.
So back to the reason they were listening to me talk about being self employed in Canada. Â The option to employment is being your own boss.
Now, you can be self employed or you can be an entrepreneur!
Letâ€™s say you come from India and you were a mechanic. The first alternative, self employment, Â is that you set up a business in which you work on cars because you enjoy being a mechanic. You make a good living in your new country but youâ€™ll never get rich being self employed, but you are after all steadily employed working on cars.
The other variation to being self employed is to be an entrepreneur. An entrepreneur comes from India, in this instance, had worked as a mechanic but the difference is when he comes to Canada he opens a small shop with potential to expand. He then hires other mechanics to work with him. In time he realizes that he canâ€™t run the business while working as a mechanic alongside the other guys he now has employed so he becomes the manager.
Of course, in this scenario, our mechanic (now the manager) is doing better than the guy who just started a business working on one car at a time. This entrepreneur keeps an eye on his employees until he can find a dynamic, competent worker under him who he can promote to manager and replace himself.
When the business owner/manager replaces himself he becomes the entrepreneur. He has climbed the ladder and has become the guiding light of an actual business not a one man show. He is the main decision maker and his goal is to make the other people in the company happy and employed.
Welcome to being an entrepreneur versus self employed and welcome to Canada!