An export plan is essential for any business that is planning to enter international markets. It’s a business plan tailored specifically for international markets that will help you identify your target market, understand what resources you require, outline your next steps and define your export goals. In addition to being the roadmap that will help your business succeed, export plans are often a requirement to obtain institutional financing. To help get you started, here are some guidelines o
Global value chains are a popular way for businesses to increase efficiency and productivity, decrease overhead and deliver quality products at the lowest price possible. Rather than being the sole producer of their Canadian exports or relying entirely on the foreign market, more and more businesses are beginning to outsource certain components of their products or services. These components include everything from concept to R&D, production, marketing, distribution and even consumer support.
Considering that nearly 70% of Canada’s GDP consists of import and export revenue it’s no surprise that more and more Canadian companies are looking to expand internationally. Entering foreign markets can create opportunities for diversification, reduced vulnerability, higher profits, more sales, access to global demand and innovation.
Last month, Minister Ng announced some exciting and very relevant additions to the CanExport program. The CanExport program offers government grants of up to $75,000 to small and mid-sized Canadian companies that take their business into new markets. With COVID-19, entering new jurisdictions has become much less accessible and businesses have had to look at new ways of reaching clients in international markets. The deadline for submitting an application for 2020/2021 funding is December 14, 2020