Motley Idiot readers accustomed to my articles will know that I give attention to investing in progress shares. It is because I’m nonetheless within the wealth-accumulation stage of my life, and progress shares have the potential to assist me obtain my targets quite a bit sooner than different varieties of belongings. With that mentioned, there are a handful of firms that I can see myself shopping for for a really very long time.

On this article, I’ll focus on two of my favorite TSX progress shares to purchase proper now.

That is my prime choose

At this time, my prime TSX progress inventory to purchase is Shopify (TSX:SHOP). The truth is, I’m so bullish on this firm that I can nonetheless see myself shopping for shares years from now. For these which are unfamiliar, Shopify is an e-commerce firm. It supplies a platform and lots of the instruments mandatory for retailers to function on-line shops. That features capital, fee, and transport companies. It’s estimated that multiple million retailers depend on Shopify as we speak. That features first-time entrepreneurs and large-cap enterprises.

For my part, Shopify stands out from its rivals by leveraging its large enterprise partnership community. By giving its retailers entry to platforms like YouTube, Spotify, Walmart, and extra, Shopify shops have each alternative to land in entrance of customers. It’s maybe that on-line presence that allowed Shopify to proceed growing its income in 2022, regardless of it being a really robust financial setting for customers.

Shopify inventory presently trades at about $55 per share. That’s practically 75% decrease than its all-time excessive. Whereas that could be troubling to some traders, I imagine it presents an unimaginable alternative for progress traders. E-commerce is simply going to develop sooner or later and with Shopify’s robust platform, the corporate may develop strongly alongside the net procuring development.

This confirmed winner might be a terrific purchase

Not all progress shares are younger, unproven entities. The truth is, some Canadian blue-chip shares current wonderful progress potential. That’s precisely what Constellation Software program (TSX:CSU) brings to the desk. This firm was based in 1995 and first went public in 2006. To today, Constellation Software program has continued to develop at a really quick tempo.

As a tech conglomerate, this firm has acquired lots of of vertical market software program (VMS) companies. For many of its historical past, Constellation Software program has centered on small- and medium-sized companies. Now, with massive VMS enterprise acquisitions being included into its playbook, Constellation Software program presents one other avenue for progress.

This inventory has gained greater than 12,500% since its preliminary value providing in 2006. That represents a compound annual progress fee of greater than 30%. The legislation of huge numbers states that firms ought to expertise slower progress as they enhance in measurement. Nevertheless, traders may nonetheless vastly outpace the broader market if Constellation Software program’s progress fee falls to about half of what it’s performed over the previous 17 years.