LMIA Owner Operator

LMIA Owner Operator Business Plan

If a company intends to hire a foreign worker, they are required to receive a positive Labour Market Impact Assessment (LMIA). The evaluation is required to demonstrate that the foreign employee is essential and that all reasonable attempts were taken to hire a Canadian citizen or permanent resident prior to hiring the foreign employee. LMIAs are submitted to Employment and Social Development Canada (ESDC), which is in charge of Canada's federal social programs and labor market.

The LMIA process has a version called the Owner Operator program. Foreign applicants are eligible to apply if they intend to buy a controlling stake in a company and participate actively in the day-to-day management of a such business.

These candidates may receive a positive LMIA without specifically advertising the position if the candidates can demonstrate through the business plan that the arrangement will result in a positive or neutral impact on the overall business and labor market.

Therefore, the business plan, which must describe the applicant's background and corporate goals, is an essential component of the application process. This necessitates a thorough and in-depth description of the strategy, objectives, and expansion plans. It also calls for analyzing and demonstrating how the acquired company will favorably affect the country and Canadian citizens.

What’s Included in our LMIA Owner Operator Business Plans?

• Executive Summary
• Company Description
• Economics Benefit to Canada and the Province
• Industry and Market Research
• Strategy and Go to Market
• Marketing Plan
• Personnel Plan
• Financial Forecast (5 years)

Company Description:

This section provides an overview of the business, including its history, mission, product or service offering, target market, and ownership structure. The company description should provide a clear picture of what the business does, who it serves, and what it hopes to achieve in the future.

Economics Benefit to Canada and the Province:

This section outlines the economic benefits that the business will bring to Canada and the province in which it will operate. This may include information on job creation, investment, tax revenue, and other economic benefits.

Industry and Market Research:

This section provides a comprehensive understanding of the market and competitive environment in which the business will operate. It includes information on the size and growth of the market, key players, trends, and opportunities and challenges faced by the industry.

Strategy and Go to Market:

This section outlines the business's strategy for entering the market and achieving its goals. It includes information on the business's unique selling proposition (USP), target market, and go-to-market plan.

Marketing Plan:

This section outlines the business's marketing strategy and tactics, including its advertising, public relations, direct marketing, and online marketing efforts. The marketing plan should take into account the business's goals, resources, and market conditions.

Personnel Plan:

This section outlines the business's human resources plan, including information on the management team, key employees, and staffing requirements. It should provide a clear picture of the business's talent management strategy and the skills and expertise needed to succeed in the market.

Financial Forecast:

This section provides an estimate of the subsidiary's future financial performance, including information on revenue, expenses, and cash flow for a 5-year period. The financial forecast should be based on realistic assumptions and should provide a clear picture of the subsidiary's financial position and its ability to achieve its goals.