Using the points assessment grid, candidates are allocated points for various elements under three categories: human capital, business experience, and business establishment plan.
The Business Establishment Plan (BEP) must be a coherent and well-thought-out plan for successful settlement and business development in Saskatchewan. The plan should outline the steps that the applicant will take to ensure that the business has a reasonable chance of success and can be implemented upon arrival. Additionally, it should demonstrate that the business meets the minimum required investment level and that the applicant will hold an active managerial position in the business. The BEP should show that the candidate has conducted extensive research into the economic, market, and cultural factors relevant to the proposed business.
A third party may help the applicant develop the BEP, however, it is crucial that the applicant has complete knowledge and understanding of his or her plan. In the event that the applicant is unaware of the BEP’s contents, he or she may be deemed ineligible and the points for the BEP on his or her EOI may not be awarded.
Regardless of whether the candidate intends to purchase an existing business or establish a new one, the BEP must touch on all of the following topics: the business idea, economic benefit, investment, business relationships, and human capital.
The business idea section of the Business Establishment Plan must:
This section of the BEP must describe the economic benefit to the community being served, such as:
The investment section of the BEP should include:
In this section of the BEP, the candidate should provide:
This final section of the plan should include:
For all applicants choosing to invest in a business succession opportunity, a joint venture, or a regional business opportunity, an exploratory visit to Saskatchewan is mandatory. These applicants must complete an Exploratory Visit Report, to be submitted along with their online application, that provides details on the activities undertaken during their visit to Saskatchewan. The report must cover the entire length of stay in Canada, including time spent in other provinces, if any.
The Exploratory Visit Report must include:
Applicants are considered ineligible if they:
The following types of businesses are considered ineligible for the SINP Entrepreneur Category: