As FITT’s Community & Partnership Lead Lora Rigutto, CITP, opened the event, she captured the spirit of the occasion:

“Today’s event is a celebration of leadership, impact, and the growing influence of the CITP community in global trade.”

FITT Board Chair Denise Amyot reinforced the significance of the designation, noting:

“The CITP designation represents excellence. It signals credibility, leadership, and the ability to navigate complexity in a rapidly changing global trade environment.”

25-Year milestone CITPs: Building the foundation

This year’s 25-year honourees represent the early builders of the CITP designation, professionals whose careers span decades of transformation in global trade.

Their contributions have helped establish the credibility and reputation of the designation across industries and regions. These leaders have navigated economic shifts, policy evolution, and technological change while shaping the profession itself.

20-Year milestone CITPs: Sustained leadership

Celebrating two decades of achievement, the 20-year CITPs exemplify consistency, adaptability, and forward-thinking leadership. Their careers reflect a deep commitment to staying relevant in an ever-evolving trade landscape while mentoring and influencing the next generation of professionals.

15-Year milestone CITPs: Diverse expertise across sectors

The 15-year milestone group highlights the breadth and diversity of the CITP community. These professionals have built strong international networks and contributed across a wide range of sectors.

Represented organizations include a mix of public and private sector leaders including, the Business Development Bank of Canada, Global Affairs Canada, Saskatchewan Trade and Export Partnership, Tootsie Roll Industries, and Umbra Ltd among others.

From trade promotion and finance to manufacturing and consulting, this group demonstrates how CITPs drive impact across industries.

10-Year milestone CITPs: A decade of impact

Marking ten years of certification, this group reflects strong contributions across corporations, government, and international organizations.

These CITPs represent organizations as diverse as FITT’s longtime strategic partner Export Development Canada, Lenovo, Royal Caribbean Group, World Customs Organization, and University Canada West, and many more.

These professionals have spent a decade strengthening global trade practices and advancing their organizations’ international success.

5-Year milestone CITPs: Emerging leaders

The 5-year milestone recipients represent the next generation of trade leaders, professionals who have invested in building credibility and expertise early in their careers.

Their organizations reflect a wide spectrum of the trade ecosystem, including Agriculture and Agri-Food Canada, TD Bank, Honeywell International, Export Development Canada, Algonquin College among many others.

These milestones are not just about time; they reflect momentum and continued professional growth.

Welcoming the newest CITPs

A highlight of the gala was the recognition of the newest cohort of CITPs, professionals who earned the designation in 2025.

FITT President & CEO Caroline Tompkins emphasized the importance of this growing community:

“Behind that success is a shared foundation… we have built and maintained a global standard of excellence for export readiness.”

This year’s new CITPs represent a dynamic mix of emerging talent and seasoned professionals from both public and private sectors. Their roles span trade advisory, logistics, finance, policy, and business development.

Organizations represented include: Invest in Canada, Ontario Ministry of Economic Development, Job Creation and Trade, World Trade Centre Vancouver, NARL Marketing, Quality Move Management, and Dyson.

Lora Rigutto also highlighted individual stories that reflect the depth of experience in this cohort, noting seasoned professionals and global leaders who continue to invest in their development and the designation.

A community driving global trade forward

Throughout the gala, one message remained clear: the CITP designation is more than a credential, it is a global standard and a powerful network.

Caroline Tompkins captured this collective impact:

“By sharing the value of the designation… you help grow both the reach and the depth of this community.”

From 25-year pioneers to newly certified professionals, the CITP community continues to shape the future of international trade—driving innovation, building connections, and strengthening global commerce.

Congratulations to all milestone and newly certified CITPs for your years of leadership and impact as part of this distinguished professional community.

The post Celebrating the community of professionals driving global trade forward appeared first on Trade Ready.

In today’s dynamic job market, the hiring landscape is rapidly evolving. Employers are shifting focus from traditional qualifications to prioritizing practical expertise and tangible skills. This move towards skills-based hiring is transforming the job market, creating both new prospects and challenges for professionals looking to progress in global trade. 

Keeping pace with these changes, FITT sees continued value in offering practical training and credentials to address the current challenges in global business and reflect professionals’ earned skills and knowledge. 

In this brief recap, we invite you to celebrate the achievements of the FITT learning community in 2023 – a testament to resilience, dedication, and the transformative impact of education. 

It’s inspiring to observe the vast number of individuals from varied sectors, job positions, and organizations who have dedicated themselves to enhancing their skill sets and achieving their professional objectives by obtaining FITT credentials in 2023. 

FITT Certificate earners: Nurturing the next generation of trade experts

The FITT Certificate in International Trade is presented to individuals who’ve successfully completed any 3 FITTskills courses, or the equivalency thereof. In 2023, 263 new FITT Certificate holders emerged, showcasing the program’s continued relevance and impact. Notable organizations such as Global Affairs Canada, MUJI, Invest Alberta Corporation, Sumol+Compal Marcas SA, Block 4 Oilfield, LLC, North Atlantic, Export Québec, La Molienda and World Intec Co are now home to professionals equipped with FITT Certificates. 

Geographically, the FITT Certificate holders are making their mark in Asia-Pacific, North America, and Europe. The job roles, including Trade Commissioner, International Trade Advisor, CEO, and Export Consultant, reflect the diverse career paths of those who started the training to get the FITT Certificate.

Value of FITTskills Courses: 89% of respondents find FITTskills courses valuable. – 2023 FITT Customer Satisfaction Report

FITT Diploma holders: A growing force in global business

The FITT Diploma in International Trade holders are on the rise, with 487 graduates joining the league in 2023.

87% of respondents find FITTskills courses relevant to their jobs and responsibilities. – 2023 FITT Customer Satisfaction Report

The number of FITT Diploma holders not only eclipses the previous year’s count but also emphasizes the increasing importance placed on trusted international trade credentials. This year’s FITT Diploma earners span diverse sectors, including agriculture, food, manufacturing, finance, logistics, and technology.

The extensive list of companies these diploma holders are now associated with includes enterprises like RBC Royal Bank of Canada, TD Bank Group, Epiroc, SGS Canada Inc., Haya Solutions Inc., Coca-Cola Bottling, and Tjx Canada. From government agencies to private enterprises, the FITT 2023 Diploma holders are weaving a rich tapestry across the international trade spectrum. 

Their reach extends globally, with professionals working with business divisions located in Europe, Latin and North America, Asia, and East Africa.  

Among the Diploma holders, the job roles include Export Sales Manager, Business Development Officer, Commercial Officer, Project Manager, Import & Export Analyst, Supply Chain Specialist and more. 

Having gained expertise in the 6 key  knowledge areas that make up the FITTskills program, the FITT Diploma holders have achieved one of the main requirements to apply for the Certified International Trade Professional (CITP) designation.  

CITPs: A community of validated trade leaders represented world wide

The Certified International Trade Professional (CITP) designation stands as a beacon of excellence in global trade. With CITPs present in 47 countries, the community represents a network of certified international trade practitioners, contributing to various sectors and industries. 

The list includes a wide range of job positions, spanning from Trade Commissioners, Managers, Directors, and Presidents, to various specialized roles in logistics, finance, law, marketing, supply chain management, and education.  

The company list exhibits a diverse array of industries, ranging from government and trade organizations, such as Global Affairs Canada and Export Development Canada, to educational institutions like the University of Calgary and Niagara College. It also includes technology giants like IBM and Google, manufacturing and aerospace companies such as Airbus Helicopters and Teck Resources, as well as consulting firms like Deloitte. The presence of financial institutions, retailers, healthcare, logistics, and mining companies underscores the broad spectrum of sectors involved in international trade and business development. 

From professionals who specialize in logistics, law, finance, and education, CITPs are leading the charge in shaping the future of international trade and business development. 

FITT continues the mission of advancing the international trade profession. The growing numbers of FITT Diploma and Certificate Holders, coupled with the global presence of CITPs, paint a picture of a community that is not only expanding, but also influencing the trajectory of global commerce.

As we reflect on the accomplishments of FITT’s learning community in 2023, we anticipate an even more impactful journey ahead, shaping the future leaders of international trade. Whether you’re a government official, a private sector professional, an aspiring entrepreneur or a leader looking for training to upskill your team, you can be inspired by the 2023 FITT credential achievers and begin your own journey through skills development and professional certification.

More than ever, validated skills are the gateway to success in the complex world of international trade. 

The post From public to private sector, Europe to Africa and beyond – here are the 2023 FITT credential achievers appeared first on Trade Ready.

Peter Hall has long been an influential voice in the international business community. He served as VP & Chief Economist at EDC for over a decade. In the FITT Economic Briefing series, Peter explores the current state of the world economy, forecasts and what it all means for today’s exporters.

Here is a recap of the first three installments in the series. For the full picture, watch the videos and be sure to subscribe to FITT’s Youtube channel so that you will be the first to know when there is a new briefing update.

Is forecasting passé? Projections and pandemonium are a strange mix

Released in August, 2023

Chaos is a big theme these days – it appears in books, movies, high-level economic and political discussions, and it has come to permeate our view of things. Whether it’s climate change, technological change, de-globalization, terrorism, populism, pandemics,  demographic change, misinformation, corporate ethical issues, IP, AI or the host of other mega-shifts I’ve left off the list, each individual issue is daunting on its own; collectively, they are something of a nightmare.

The shock, persistence and randomness of these issues has led many to conclude that it’s not really possible to see the future, that the models of the past are broken. That’s probably true if everything has changed. But everything hasn’t changed.

The traditional business cycle is still relevant

We still talk the business cycle and its four phases: growth, peak, recession and recovery. All of these terms are still in our business vocabulary, and still active in reality.

What’s confusing about today’s business cycle is that it doesn’t seem to be following the same cadence as in the past. In recent history, we could count on a recession happening roughly every 10 years. However, dating back to the early 1980s, the world has undergone significant positive shocks that have increased our collective capacity to grow. Things like computing power, telecommunications, the rise of emerging markets, globalization, and myriad related factors and applications have revolutionized and set whole new limits to our growth potential.

It’s really hard to argue that in the big, driver economies there is clear evidence of pre-recession excesses. In fact, there is ample evidence of the exact opposite – a massive anti-bubble of pent-up demand.

If you don’t agree, you’re in good company – but try these arguments on for size: first, the COVID-19 policy-induced recession simply deferred a lot of intended spending. And the money is there for it, from incomes that were just banked to paid-out but unspent stimulus money. Second, prolonged sluggish growth created a huge groundswell of pre-pandemic pent-up spending. Third, at the same time, Americans vastly reduced their personal debt levels. Fourth, the 2008 housing disaster, most evident in the U.S. market, brought chronic underbuilding that created a big supply-demand gap that will take years to fill. In the U.S. and Europe, housing is on the up and up. No wonder the Fed is finding the inflation battle hard.

Canada and the U.S. are facing different scenarios into 2024

Ditto for Canada? Sadly, no. Soaring consumer debt and poor housing fundamentals will not respond well to aggressive interest rate hikes. This, together with higher consumer prices will ensure that Canadian consumers are tighter with their cash. Avoiding a significant domestic recession will be very difficult for Canada to do.

This time around, Canada’s exporters will get a free pass. The relative strength of our key trading partners will likely shift business interest more to an export focus – by extension, heating up demand for international trade expertise.

Not only will exports partly offset the domestic malaise, but that same domestic weakness could well free up labour and plant capacity for the export sector – it’s actually a good moment to keep an eye open for talent that’s currently being shed in the high tech, financial services and skilled-trade firms that primarily serve the internal economy. It’s also a good time to be on the lookout for strategic investment plays.

Here’s the deal

Forecasting is alive and well, if the impact of structural changes is properly understood. Data and cyclical fundamentals together show that the global economy is stronger than news reports have indicated. This will help it to absorb higher interest rates without drastic fallout, and to continue growing for a number of years to come. To do this successfully, more capacity will be needed to deal with rising demand. That will be good for Canadian exports, Canadian business investment, and skilled international trade professionals.

Is Inflation Going the Wrong Way? Analysts say more rate hikes ahead

Released in September, 2023

As you know, businesses, exporters and consumers have already paid a huge price in the Bank of Canada’s inflation fight. The sharply higher cost of borrowing has hit us from all angles – personally, in business investment projects and working capital needs, and in business flows.

Haven’t rate hikes gone far enough? Why aren’t they more effective? What about core inflation?

That’s all the Bank of Canada cares about, right? Partly right – in an inflation fight, they’re looking at everything.

What wasn’t discussed in immediate news flashes over the past few months is that certain key groups in the CPI basket are either deflating or in disinflation territory. Take household operations, furnishing and equipment, for instance. It’s a category that accounts for almost 15% of the CPI basket, and has fallen by an average of 0.5% per month for the past three months. That’s an annualized drop of 5.9%, a pretty serious tumble. Guess what – this category isn’t alone. Clothing and footwear tumbled by 2.8% in the past two months alone. Meanwhile, health care costs have flatlined. Add it up, and about a quarter of the basket is really hard-hit.

Still a lot of interest costs pain ahead

This sure complicates the budgeting process. Businesses are struggling with irrepressible energy and transportation costs, critical for international trade, and a softening domestic market that’s putting downward pressure on selling prices. Weak producer prices are a mixed blessing; input costs are muted, but those selling intermediate goods are in a squeeze.

Monthly increases in mortgage interest costs are still rising at a double-digit pace that has persisted for 14 months, and is almost sure to continue for some months to come. In July alone, growth was at a 24% annualized pace. The pace was actually higher a few months back, but today’s growth is on top of previous gains and is almost sure to barrel on in the coming months. For interest costs, there’s still a lot of pain ahead.

Is the cure worse than the disease?

Now wait a minute; when we’re talking about inflation from interest rate hikes, isn’t that inflation that’s sort of caused by the Bank of Canada? Well, I’m afraid so.

This is one of those strange situations where fighting fire with fire is the remedy. But if that’s the case, shouldn’t the measure of success be the price path of everything but mortgage interest costs? That is, are the fires that are being intentionally started helping us conquer the original fire? Seems reasonable.

That should be easy; mortgage costs are hefty, so tackling what remains should be easy, right? Not quite; hard as it may be to swallow, the weight of mortgage interest costs in the the entire 2022 CPI basket was just 3.46%. But don’t despair; multiply that by the 30.6% year-on-year growth in this category and you add a full percentage point to headline CPI!

Here’s the deal

Monetary policy remains a delicate dance. Rate hikes to date will still be biting down hard on the economy well into next year. Spurious and fleeting price changes will doubtless complicate the exercise, but the Bank’s potion seems to be working. As we’ve seen in the past, too much is lethal.

Navigating Near-shoring: Tempering enthusiasm with caution

Released in November, 2023

It seems everywhere there’s business-talk, near-shoring is one of the key topics. Whether in keynote presentations, strategy meetings or side-bar conversations, there’s lots of buzz.

While serious talk of near-shoring is nothing new, springing to life with SARS-1, business-arresting weather and seismic events and the Global Financial Crisis of 2008, it really took the COVID-19 pandemic to kick it into tangible action. In investment-speak, that’s pretty recent.

It takes time to actually get shovels in the ground, but that seems to be happening in spades in 2023.

What does this mean for exporting businesses in Canada?

Many are welcoming this enthusiastically. They see new investments coming in, with employment opportunities, ribbon-cutting ceremonies and of course tax dollars to follow. And if they’re not coming here, well, they’re setting up shop in a ‘friendlier’ location. Supply chains are more secure. Shipping will be more predictable, and require shorter lead times. In short, it’s much more about us, and it’s keeping the so-called ‘bad guys’ out. But is it all positive?

6 key near-shoring challenges for exporters

Unfortunately, there are a good few things to watch out for:

1. Higher costs

Let’s face it, under globalization, business was organized internationally to minimize costs. Competitive pressures ensured that businesses would make cost-efficient decisions. It’s logical, then, that unwinding this process will result in higher-cost production. The timing isn’t great, as we are already dealing with the first serious inflation outbreak in 31 years. Exporting businesses will have to factor this into their plans, and will have to be creative to remain competitive.

2. Labour shortage

New domestic investments will require workers, and these – at least in Canada, the U.S. and Western Europe are in short supply. As such, these new operations will likely bid up the cost of labour, which no doubt will seep into our own organizations, magnifying wage pressures that are already present.

Canada’s acute shortage of skilled labour also suggests that new investments may well poach skilled labour from existing operations, compromising production from existing facilities, and again, adding to wage pressures for skilled workers.

3. Financing

The timing of new investment activity isn’t great, as it’s clashing with the recent spike in interest rates. While we may welcome all of this new activity, the cost of what it produces will likely have to factor in increased borrowing costs.

4. Location

You may be happy that a key part of your supply chain is moving closer, say from China to Mexico. If you haven’t dealt with Mexico-based businesses before, there’s likely a lot to learn about transactional, taxation and logistics issues, among other things. And even if you are familiar with the new market, there may well be differences that relate to the nature of the goods and/or services in question.

5. Are potential partners really near?

Near-shoring has created a wave of investments from offshore suppliers, in an attempt to be treated as local content. China is particularly active, with anecdotal evidence suggesting strongly that it is investing in North America, especially Mexico, and in places like South Korea which have preferential trade agreements with the U.S.

This new investment is generally being welcomed by the recipient jurisdictions, but if in U.S. policymakers’ eyes this is ultimately viewed as a violation of the spirit of near-shoring, then these investments – and those supplied by them – may well find themselves on the wrong side of Canada’s top customer. With this in mind, remember that USMCA is up for renewal in 2026.

6. Politics vs business

Businesses make investment decisions based on long-term dynamics, given the amounts being committed and the need to generate shareholder value. Politics is often on a shorter horizon, and can be fickle. When it finally dawns on consumers that they will ultimately pay the bill for this, in addition to current inflation pressures and higher interest rates, they may sour on near-shoring.

At the same time, businesses need to be aware that higher-cost repatriated investment means that there are still lower-cost operations elsewhere that could well threaten future competitiveness. They, too, may lose enthusiasm for near-shoring. Best to keep an open mind and remain flexible.

Here’s the deal

Past promises to re-shore, near-shore or re-localize supply chains weren’t honoured for a reason. Businesses simply weren’t convinced that the long-run costs of disruption justified a substantial re-working of their global production networks. Political pressure and security concerns have convinced many that it’s time to make good on the promises.

Whether or not the changes stick remains to be seen. Where national security is concerned, near-shoring is here to stay. For the rest, time alone will tell. As near-shoring is essentially a policy in flux, it is critical to keep an eye on the progression of the issue in the coming months.

Don’t miss a FITT Economic Briefing update. Subscribe to FITT’s Youtube Channel and turn on notifications.

The post Forecasting, inflation and near-shoring – what exporters need to know heading into 2024 appeared first on Trade Ready.

Student of the Year Award

Congratulations to Hector Chacon from CDI College for receiving this top honour. It celebrates the student with the highest overall grade point average after completing all FITTskills courses, the last of which would have been completed in the 2022 calendar year. In completing all courses successfully, Hector also earned the FITT Diploma in International Trade. Presented by FITT’s strategic partner, Export Development Canada, this award is a testament to Hector’s outstanding academic performance.

Sonica Grewal, B. A., Campus Director at CDI College, says this about Hector:

“He is an outstanding student with high grades, good attendance, and an excellent attitude.”

Congratulations, Hector, we can’t wait to see where your career takes you!

International Sales and Marketing Plan Award

The International Sales and Marketing Plan Award goes to Amier Shooman from Algonquin College! This is awarded to the student who has received the highest grade for their submission of a completed sales and marketing plan during the 2022 calendar year. 

Amier has chosen to study international trade due to his exposure to international politics and policies. He loves learning about new cultures, markets, and communities in the global economy.  

Amier is already looking at adding further accolades to his international trade résumé. His career goal is to work in a constantly evolving international trade environment.

“My dream is to one day become a top-level manager. To achieve this endeavor, within the next couple of years, I plan to earn the CITP|FIBP certification. I then plan to find an entry-level position in either a special or rotational role within the international trade field.”

Amier’s award-winning project involved exploring opportunities for DAVID’s TEA to expand into a new market in England, underscoring the practicality of a sales and marketing plan in the target market. 

Adam Digor, CITP, Instructor at Algonquin College states this about Amier:

“Amier is one of those unique students with a great attitude, aptitude and concise communications skills. He has an inquisitive presence in the classroom, asking questions to help the instructor better articulate the subject to the students.”

Congratulations, Amier, on this remarkable achievement! We are confident that your success will pave the way for a bright future, and we look forward to seeing you join the CITP community soon.

Connect with Amier Shooman on LinkedIn.

International Business Plan Award

The International Business Plan Award is presented to the students who achieves the highest grade for the submission of a completed international business plan during the 2022 calendar year. This category includes two outstanding winners – Makaniya Madhusoodanan Kavitha from Fanshawe College and Tinashe Stanley Mukono from Mount Royal University.

In addition to winning this award, these graduates from Fanshawe College and Mount Royal University have also fulfilled all requirements to earn the FITT Diploma in International Trade. 

Frank F. Cotae, PhD, MBA, Associate Professor of International Business at Mount Royal University, lauds Tinashe for his remarkable understanding of international trade and the quality of his International Market Entry Report (International Business Plan) for Rviita’s expansion in Denmark. 

“Tinashe has shown extraordinary understanding of international trade clearly evidenced by his International Market Entry Report: Rviita Expansion in Denmark. The quality of the analysis and decision making ability have been showcased in Mr. Mukono’s report, supervised by Dr. Abdul Chikhouni, and have culminated with him earning a Diploma in International Trade, an accomplishment for which he deserves congratulations. Having mastered FITT x EDC skills and competencies he has formed the basis for his current career as a Project Manager with RSM.”

Connect with Tinashe Mukono on LinkedIn.

Makaniya’s interest in multinational companies’ success in international markets led her to choose international trade as a career. She aspires to become a trade policy analyst and has a career goal to become a director of international trade policy in a multinational corporation. 

Makaniya’s projects included analyzing the expansion of Railway City Brewery into the United States market and determining the most reliable methods for Mycionics to enter the European market.

“The course taught me how to conduct detailed and analytical market research from authentic sources and condense them to create an effective trade report. I have learned to read and understand business reports of companies on international trade.”

Connect with Makaniya Kavitha on LinkedIn.

The 2022 FITT Educational Award winners exemplify the commitment, passion, and dedication that underpin excellence in international trade education. Their stories highlight the exceptional talent nurtured within FITT educational partner training organizations and the knowledgeable and dedicated coordinators and professors in these institutions. 

From everyone at FITT, we extend our congratulations to these remarkable students. The FITT Educational Awards stand as a symbol of their developing talent, and we look forward to witnessing the future accomplishments of these rising stars in the field of international trade.

The post FITT’s 2022 Educational Award Winners conquer market entry challenges around the world appeared first on Trade Ready.

“…companies that export make 121% more money, grow faster, last longer, are better connected within supply chains, are more resilient to economic downturns, and are more productive, competitive and innovative.” 

It’s no wonder then, that the majority of Fortune 500 entities operate locations in foreign countries, according to research by CapRelo.  

Coming from a broader perspective, there is no bigger pool of consumers than the global one. Take the USA, for instance.

“More than 95 percent of the world’s consumers are outside of the United States,” notes the US ITA (International Trade Administration). “Your competitors are increasing their global market share, and you can too.” 

The story is the same for businesses in all countries around the world too. Whether you’re looking to expand operations or simply want to export your products and services to an international locale, the world is a big oyster for you and your business to take advantage of.  

So, the bigger question on your mind should not be why should I be expanding my business to global markets? But, instead, how do I expand my business into global markets safely and successfully? 

The answers are out there, and they require diligent decision-making processes and strategies that have been tried and tested by the most successful companies around. There is no secret recipe to it all, you just have to do the right research, have the right partners, the right training and the right team. Keeping in mind that female-run businesses often face more hurdles when building their companies, it’s especially important to think about expansion with this type of due diligence in mind.  

With that said, here are 5 important steps that female leaders can take to take their businesses beyond domestic boundaries.

Create a Highly Trained International Business Team 

In business, people do not encourage ‘going it alone.’ Yes, there are stories of renegade disruptors straying from the pack and doing their own thing to much-lauded success, but the reality behind many of these solopreneurs and their companies is that they had excellent mentors, staff members and partners who helped them become the success stories that they are today.  

So, when it comes to business expansion, you need a team that understands how to:

• Research target markets effectively 
• Manage international finance and FX intricacies 
• Navigate the complex landscape of international shipping, logistics and transportation 
• Engage in appropriate cross-cultural marketing and sales 
• Adapt products and services to the many regulations in international markets 

This type of team can be comprised of many positions, depending on your company’s size, operational model and needs. Many international business consultants offer-up global trade experience for doing business in international regions, as do import-export consultants, trade compliance specialists, and procurement and purchasing experts—on a more granular level.  

Depending on the size and breadth of your team already, you may want to hire a specialist in a niche area, such as logistics, or you may need someone who can do it all, from researching the right global markets to executing the expansion strategy on a daily basis—like a seasoned international business consultant, developer or manager. 

Regardless of the position, what is exceptionally important for the success of your team is the amount of professional experience and training they have.

For example, many companies that are focused on international trade often look for the Certified International Trade Professional designation (CITP®|FIBP®*) when sourcing top talent.

That’s because CITPs have the knowledge and skills needed to provide services in all of the areas noted above (and more). This type of designation can be extremely beneficial as it provides your clients with added confidence that your team members understand the complexities involved in global expansion and, more importantly, know how to avoid common mistakes that untrained and inexperienced individuals so often make. Just as you need to do your due diligence for your business, your teams also need to be properly equipped to do the same in their areas of expertise. 

Execute a Thorough Feasibility Assessment 

If you are going to expand your business into new markets the right way, then you need to do the right type of research to see if the potential opportunities are viable for your business—both its current and future state. That means you need to:

• Assess your organizational readiness to take on international trade initiatives 
• Understand the best import or export opportunities for your business using the right types of data (such as macroeconomic data) 
• Perform cost-benefit analyses for all of your expansion activities  
• Understand how to mitigate the wealth of risks that can occur day by day in an ever-changing global economy 

These aren’t small tasks by any means, but that’s why adding the right professionals to your business is of utmost importance. They know how to do it all, so you don’t have to. 

Find the Right Partners 

When entering a new international market, partners can help establish effective marketing and distribution systems, region-specific market and consumer knowledge, and important government or regulatory connections that are necessary for successful expansion. However, there are many, many instances where not doing the right research and understanding your liabilities or partner’s liabilities can create disastrous situations for both parties. So, it’s important to understand what type of partnership you need first (distributor, agent, business association, business associate etc.), and then how to ensure you negotiate an agreement that will not only benefit your business but protect it during unexpected scenarios too.  

Establish Strong Female Support Networks  

Female leaders need other female leaders to thrive in today’s business environment. The WPO is just one of many organizations that understands the importance of this notion, creating a network of peer-to-peer support for women who seek advice, experience and resources from women who have succeeded at doing business or, in this specific case, international business. Not only do female support networks offer mentors, conferences, expert advice and opportunities that otherwise would be difficult for female-run businesses to attain on their own, but they also lift up female leadership and diversity initiatives on the whole—continuing an essential growth cycle for the women-led businesses of today and tomorrow. 

Dig for Initiatives, Resources and Funding Opportunities for Women  

At first glance, it can be daunting for women to find resources, financial assistance and business guidance when growing and expanding their businesses. But now, more than ever, the world is ripe with opportunities for women to take advantage of, especially in the form of diversity initiatives. For example, many government sectors in Canada, the US and Europe actively seek female-run companies for events, start-up and incubator programs, and supplier diversity programs.

Many large companies do too; in fact, 97% of Fortune 500 companies have supplier diversity programs, according to EDC.

It may take a bit of digging for the right help, but the investment in time is more than worth it. Better yet, if you have already established the right team and networks, you may not even have to look for these opportunities. People will bring them right to you. 

Going global shouldn’t be daunting. On the contrary, it is exciting and ripe with opportunities for large-scale success—especially if you have the right teams, partners, networks and resources at hand. Luckily, for those who are members of the WPO network, you’re already part of the way there. 

* Certified International Trade Professional (CITP) is trademarked for use within Canada. FITT International Business Professional (FIBP) is trademarked for use internationally. Both reflect the same FITT certified designation. 

The post How to Take Your Business Global – 5 Important Steps for Female Leaders appeared first on Trade Ready.

2022 may be best summed up by the word “hybrid”. As the world largely moved on from lockdowns and social distancing, many workplaces moved on to hybrid models allowing their employees the flexibility to pivot with these changing times.

There were mass layoffs, and yet the hiring landscape remained competitive. Many of us, both personally and professionally, saw a “return to normal” while also navigating a continually challenging economic and business environment.

Similarly, FITT saw the continued value in offering flexibility, with an uptick in learners taking the FITTskills program through our educational partners in an in-class, instructor-led setting – while still seeing a large portion of learners progressing through the program through the self-led online option.

No matter how they earned their knowledge and experience in international business, an impressive number of individuals from a wide range of sectors, job roles, and organizations put in the work to achieve their professional goals by enhancing their skills and earning FITT credentials in 2022.

During the 2022 calendar year:

• 19,055 FITTskills courses and workshops were issued to learners
• 2,239 FITT digital badges were shared online
• 247 people achieved their FITT Certificate in International Trade, bringing the all-time total of FITT Certificate Holders to 7,362
• 359 people achieved their FITT Diploma in International Trade, bringing the all-time total of FITT Diploma Holders to 5,725
• 235 individuals achieved the CITP designation, bringing the all-time total of individuals who have been certified by FITT to 1,842

When FITTskills participants, graduates and CITP|FIBPs share their stories of why they took FITTskills training or took steps to earn FITT credentials, we get consistent feedback that reinforces the value of them to individuals at all stages of their careers – from students to CEOs.

For some, attending the in-class training led to valuable networking connections, mentorships and  business opportunities.

Many said the CITP designation gave them the confidence and credibility to go after their dream job, or land a new contract with a big client.

Others were looking to equip their teams with the specific skills and knowledge needed to successfully achieve their organization’s international business goals.

CITP earners represent diverse roles connected by common goals

In 2022 235 individuals were awarded the designation that stands as the symbol of both competency and credibility for global business professionals, bringing the all-time total of individual earners to 1,842.

This cohort of earners represents 200+ different organizations from small, medium, and large-sized companies in the private sector, government departments, regional export offices, and financial institutions – including:

Mustang Survival, ClimeCo, Gryd, Liveable Cities (LED Roadway Lighting), Vitalus Nutrition Inc, Arc’teryx, UPS, Newlook Eyewear, Lutron Electronics, Erickson Coaching International, Right at Home Realty Brokerage, Magna International, Delmar International, HSBC, RBC Royal Bank of Canada, Desjardins, Guaranty Trust Bank Limited, TD Canada Trust, Scotiabank, EDC, Global Affairs Canada, Canadian Commercial Corporation, Canadian Chamber of Commerce, the U.S. Commercial Service, The Turks and Caicos Island Government, Export Development Canada, and many more.

The breadth of sectors, business size, and job roles represented by CITPs are connected by the common thread of doing business beyond borders and proves the value of the designation for businesses trading internationally.

Every year we love to see the variety in roles that the latest cohort of CITPs inhabits. The group of earners from 2022 includes policy analysts, researchers, business development & sales managers, investment officers, loan service managers, customs brokers, procurement specialists, international business consultants, trade commissioners, marketing directors, border services officers and many others – from entry level to C-suite executives.

All of these professionals in sectors ranging from policy analysis to marketing and procurement see the importance of proving they have a thorough grasp of international trade processes, a commitment to global trade, and a dedication to ethical business practices and ongoing professional development.

More than a third of FITT Diploma earners went on to achieve the CITP

In 2022 an impressive 359 individuals earned the FITT Diploma in International Trade – a credential presented to individuals who have successfully completed the FITTskills program, through FITTskills online, through one of our educational partners, or through our portfolio submission process.

Earning the FITT Diploma meets the educational requirement for the CITP|FIBP designation for those applying through Pathway 1 (FITT Diploma Pathway).

We are thrilled to see 35% of 2022 diploma holders went on to earn the CITP designation. FITT Diploma earners have demonstrated their knowledge in each key category that, working together, complete international trade transactions.

This full picture of international trade prepares individuals to work effectively with colleagues and clients across the full spectrum of trade activities and sectors.

In 2022 there are more than 50 companies and 100 different job roles represented by FITT Diploma earners, from finance to customs, and large corporations (Home Depot, J.D. Irving Limited, BGRS, ATB Financial, Héroux-Devtek, and more), SMEs (Crank Software, Glenview Pharma, Fisher King Seafoods, Kelford Inc.) Government departments and regional trade offices (World Trade Centres, Toronto Region Board of Trade, STEP, Natural Resources Canada, Ontario Government, Caribbean Export Development Agency, and more) financial institutions, and many others.

FITT Certificate earners are continual learners

For those looking to begin or fill gaps in their international trade knowledge, earning the FITT Certificate in International Trade is a fantastic place to start. This credential is presented to individuals who’ve successfully completed any 3 FITTskills courses, or the equivalency thereof. Earning this certificate proves your knowledge in some of the key skills areas of global business.

In 2022 we proudly presented 247 individuals with this credential, from more than 60 different companies or organizations, and representing 80+ unique job roles. While earning the FITT Certificate is an accomplishment in itself, many didn’t stop there, with 46% of them going on to earn the FITT Diploma and 21% achieving the CITP designation in the same year.

The drive to grow and excel in their careers and businesses spurred 2022’s FITT credentials earners to gain valuable knowledge, skills and prestigious industry-recognized achievements.

We offer our heartfelt congratulations to all of the credential earners and celebrate their commitment to their international trade careers and professional development.

The post Celebrating a diverse group of FITT credential achievers from 200+ companies in 2022 appeared first on Trade Ready.

Each year the FITT Education Awards are given to students who have gone above and beyond in their academic studies. These students have exhibited unmatched dedication and drive to pursue a career in international trade.

All students enrolled at any of the educational partner training organizations delivering the FITTskills program and those whose international business program is recognized by FITT are eligible candidates for these awards.

This year we have six bright and ambitious students to recognize with the 2021 FITT Education Awards.

Without further ado, lets meet this year’s winners!

Student of the Year Award

This award is given to the student who has achieved the highest GPA for the 2021 academic year and is presented by FITT’s strategic partner Export Development Canada.

This year we are excited to present this award to the knowledgeable Patricia Ortiz, who studied at CDI College. Attaining the highest overall GPA is a true testament to the hard work and dedication Patricia has demonstrated throughout her studies.

Patricia’s program coordinator, Sonica Grewel, noted that Patricia put the time in to her studies as evidenced by her excellent attendance.

Congratulations Patricia, we can’t wait to see where your career takes you!

Hands on experience was the real reward for International Sales and Marketing Plan Award winner

The International Sales and Marketing Plan award is presented to the student whose project received the highest grade. This year we are pleased to award Malak Lamrani from Algonquin College for her outstanding project where she proposed adapting and launching an existing product into a new global market.

After extensive research was conducted regarding the local preferences, this export venture called for a customization of the product’s packaging, labeling, intended use as well as the marketing message and sales strategy in order to best appeal to the foreign target community and make it a successful venture.

As with any new business venture, there are challenges to overcome. Malak recalls a major challenge she faced with finding sufficient data needed to complete her project.

“In the end, I decided to use the ‘guesstimate’ approach to forecasting. Luckily, my research had revealed key data regarding the yearly number of visitors of my targeted stores as well as a five-year growth rate forecast of my industry of interest. I ended up using these, coupled with a series of logical assumptions and calculations, in order to come up with a five-year revenue projection.”

During the program, Malak found that the development of an international business plan and international sales & marketing plan were key learning experiences that will help her in her career. And she also notes one other course that provided her with practical experience that she predicts will be important in her professional life.

The development of investment pitch proposals which I learnt during my International Trade Finance class, was one of the most important things I learned. In fact, I am already using this skill today to get sponsors for our CSBW events, only it’s adapted for sponsorships.

Winning this award was a memorable way for her to cap off her student career.

It is a very unique way to remember my FITT experience, and for that I am very grateful.

Winning International Business Plan takes private company to Denmark

This award is given to the student who has achieved the highest grade for a completed international business plan. This year we are excited to announce a tie between Carolina Guzman and Jan Christian Baltazar from Fanshawe College.

Carolina and Jan Christian’s shared interest and hunger to learn about international trade made them an unstoppable team. Fanshawe Program Coordinator Sophocles Katsademas, noted how well-suited they were as partners.

“The result was success in every project they tackled. Carolina’s infectious energy, coupled with Jan’s unfettered positivity, allowed them to overcome all challenges that came their way,” Sophocles said.

The team’s business plan was to expand the company ‘SimpliSafe’ into new international markets that aligned with the company’s goals and values. Based on the research they conducted, Carolina and Jan Christian decided to expand to Denmark.

Since SimpliSafe is a private company, finding information related to their financial statements was a challenge. Without this information it made it hard to determine the ability of the business to generate a profit. To overcome this, the team used articles about the company’s growth over the past few years to estimate the financial forecast for the business.

The team shared their thoughts on completing the project, “The grueling hours we spent in transforming this limitless information into something relevant, consumable and timely, is probably the most satisfying achievement I have personally accomplished.” Jan Christian says. Carolina shares that she felt proud to see the project completed after putting so much time and hard work into it.

We did extensive research to understand the company and the market to ensure the business plan outlined all the necessary information for the company to pursue the recommended market entry strategy plan.

The team shared their thoughts on being this year’s recipients of the International Business Plan award. Carolina feels very honored to receive this award, and it motivates her to keep pursuing her international trade career. Carolina has recently also received her CITP designation, a fantastic career achievement for international trade professionals.

Jan Christian adds, “I would like to share this achievement with all our professors in Fanshawe College for their unending guidance and support. To my classmates for their hard work and dedication to their craft. They gave me the strength to push further. And of course, my family who have been there for me all throughout the process. I am forever grateful to everyone.”

The FITT Achievement Award goes to two enthusiastic and community-minded students

For this award students are nominated, either by themselves or a peer, and are required to show a combination of community involvement and academic success. The winner is selected by the Certification and Accreditation committee.

For the 2021 academic year two nominees were deemed deserving of this award. Congratulations to Gerardo Castillo Guerrero from Cégep Marie-Victorin and Ina Gogu from CDI College!

Gerardo’s program coordinator Lucie Sislian shared:

Gerardo has been always eager and curious to learn more about international trade in all its dimensions.

Ina’s program coordinator also shared a few words on her performance during her studies:

“Ina, your passion and dedication as a student was the driver to attain the 2021 FITT Achievement Award! Your achievements of today are the stepping-stones for the future ones. Congratulations,” said Hjalmar Leon, LLB, MBA, CITP, RCIC.

Being one of the winners of this award makes Ina feel honored, encouraged, and motivated. She also shared that she feels responsible for encouraging and motivating others who are enthusiastic about this career to pursue their dream.

From everyone here at FITT, we’d like to offer a huge congratulations to our 2021 FITT Education Award winners! We love that these awards have motivated you on your path to success and hope they stand as a reminder of all the hard work and challenges you have overcome. We have seen some remarkable careers begin with these awards and look forward to seeing the future accomplishments of this years’ winners.

The post 2021’s FITT Education Awards celebrate teamwork, overcoming obstacles, and community spirit appeared first on Trade Ready.

We all know that undergoing professional development to gain new skills is something we should all be doing on a regular basis. According to HR Magazine and the Huffington post – companies that invest $1,500 or more per employee per year on training average 24 % higher profit margins than companies with lower yearly training investments. That’s huge!

When it comes to professional certification, a recent survey of 400,000 people across the globe found that 76% of people reported a salary increase or promotion after completing a professional certification. According to FITT’s own recent CITP salary survey, the median salary of CITP®|FIBP®s in Canada is CAD $52,000 more than the average median salary in the country.

Those are the statistics, but we wanted to talk to real business owners to find out how the FITTskills courses and earning the Certified International Trade Professional (CITP) designation impacted their ventures and their personal careers. Here’s what 6 of them had to say.

Emmanuel Asafo Adjei, CITP – Owner of E.A.T. Tigernuts Co.

FITTskills coursework helped this business owner see opportunities to expand into new markets, and the know-how to succeed.

His CITP designation added the credibility he needs to attract clients all over the world.

In his work in international trade, Emmanuel has seen many successes. They include managing more than $100 million in inventory assets in one of southwestern Ontario’s largest warehouse facilities, facilitating and auditing shipping documents while ensuring that shipments met international standards, and building quality control and international trade databases that reduced audit time and paperwork by more than 80%.

In his latest venture, Emmanuel is working on farming the superfood tiger nuts in Africa for import into Canada. He’s packaging and distributing the superfood into niche food stores in Canada and the United States. Through his career and FITT studies, Emmanuel has also learned the importance of perseverance:

“Never give up on any goal you set for yourself. There may be challenges, but they all pass away and give way to your success eventually. One of my proudest moments was getting my FITT diploma.”

With his FITT coursework, Emmanuel earned a deeper understanding of the nuances of food imports, packaging, and distribution in Canada and the United States—knowledge that has proved extremely valuable as the owner of a food import business. FITTskills have helped him better understand importing goods, working with Canadian customs, the Canada Food Inspection Agency, Canada Revenue Authority, Port Authority, and import brokers.

Broadening perspectives on new markets Emmanuel’s FITTskills courses—such as the International Trade Finance course—gave him insight into working with global clients, suppliers, and customers, along with expanding his global literacy and inter-cultural awareness. They’ve also helped him see future opportunities in trade.

I chose the  CITP designation to consolidate my skills sets in international business and to be an asset to companies that may want to expand into developing markets, especially in Africa.

“My motivation has broadened to include the many growth opportunities with Africa’s 1.3 billion-person market, now one of the largest free-trade areas in the world. With the African Continental Free Trade Area (AfCFTA) agreement signed by its 55 countries—and the projected $2.2 trillion GDP—Canada cannot ignore this huge market.”

Quentin Randall, CITP – Owner, Randall Strategy

FITTskills International Trade Finance course equipped this business owner help his clients access capital and reach new markets by giving him a full understanding of international transactions, from risks to closing payments.

His CITP designation gives him automatic credibility and recognition with his overseas clients – helping him to secure new projects.

Randall Strategy is led by certified financial and trade professionals. The organization aims to de-risk business ventures so SMEs can raise capital and enter new markets. They help these companies get the capital and contracts they need so they can focus on running their business.

“Every time I get to meet and work with a new small business client, I learn about their operations and help them grow; it is a very rewarding experience. Most of these companies are family-owned and operated, and helping them understand that they too can compete globally is very rewarding.

My favourite FITTskills course was International Trade Finance because it helped me better understand how to mitigate currency risk, make payments and ultimately complete a transaction. In my mind, a mutually beneficial transaction is the core of trade and this course really brought home how to do that.

My business helps small businesses access capital and reach new markets. The CITP is a well-regarded international designation and CITPs are held to a standard of professionalism that I wanted applied to my practice. It helps secure my company’s reputation of professionalism.

We are also seeking to grow by importing products into Canada, and CITP designation is immediately recognizable overseas, providing a certain level of trust and professionalism.

I am proud to have my CITP designation. It validates my experience and signals to clients that I will represent their best interest. It also enhances my ability to participate in the global trade market, which is very exciting.”

Want to learn more about the Certified International Trade Professional (CITP®|FIBP®) designation? See why it’s the world’s most recognized designation for competency and credibility in global business.

Carolina Vasquez, CITP – Founder, The Pacific Trade Show

FITTskills training gave Carolina the birds eye view of international trade as a whole, as well as the inner workings of trade transactions she needed to effectively guide her SME clients through doing business in global markets.

The CITP designation validated the high level of international business knowledge and experience Carolina embodies at home and abroad.

After several years of working on events in Toronto, promoting small and medium-sized enterprises (SMEs) from the Pacific Region, Carolina decided to create a new platform and an international program to connect Canadian companies, organizations and SMEs looking for international business opportunities.

The Pacific Trade Show brings together a new platform for participants to connect through experience sharing and networking, learn from a wide range of speakers, and discover new market trends in products and/or services.

In 2011, Carolina attained her Certified International Trade Professional designation, the CITP|FIBP, a strategic move that would serve her in many ways in her career.

Carolina adds that,

“The program is so comprehensive, and courses like Feasibility of International Trade and Global Value Chain have been key tools in my career for a better understanding in all aspects of international trade. What I have learned has also been a decisive factor for effectively managing cultural differences and language barriers… it has been a complimentary tool to continue my professional development.

FITTskills training gave me the know-how to understand and put in practice many aspects of global trade and successfully guide SMEs businesses through their international business experience in Canada.

I have been involved in international trade for over 20 years, and getting the CITP designation gave me recognition of my competency, knowledge and expertise in international trade in Canada.”

Sarah Barnes-Humphrey, CITP|FIBP – CEO, Shipz Inc., Host of Let’s Talk Supply Chain podcast

For this supply chain expert and entrepreneur, the FITTskills courses gave her an understanding of what companies go through to source new materials or sell their products in new markets in order to be able to help them succeed.

Earning the CITP designation gave her credibility and validated her industry expertise to her prospective clients and her peers.

Earning the CITP designation was hugely important. It shows that I am dedicated to my field and have the knowledge to help companies be successful in global trade.

“When I am speaking at an event and I mention being a CITP or what the training FITT provides, it’s well received, and shows that I invest in the industry I speak in and gives me credibility.”

Throughout her 20 year tenure in supply chain, Sarah has gained a reputation for her passion for the industry. Her efforts range from helping to build cost-effective supply chains to hosting one of the top podcasts in the industry, including her popular Women in Supply Chain series highlighting powerhouse women doing amazing things in the industry.

As the host of the popular  “Let’s Talk Supply Chain” podcast, Sarah interviews top supply chain professionals so everyone can learn more about this interesting industry. You can check out Lets Talk episodes anywhere you listen to podcasts, including iTunes, Spotify, google play and Stitcher.

​Sarah’s dedication to excellence in the field has resulted from a combination of hands-on experience and obtaining her CITP designation, FIATA Diploma and CIFFA certifications. Sarah continues this dedication as a Board Member and Certification and Accreditation Committee (CAC) member for FITT. In addition to her podcast, Sarah is a serial entrepreneur and is changing the industry through the online platform she and her team are working on, Shipz Inc.

Shipz gives shippers direct and easy access to supply chain services to keep their business competitive. They help importers and exporters move their raw materials or finished products globally.

Daniel Lewis, CITP – Founder, Daniel’s Chai Bar (Formerly T By Daniel)

Earning the CITP designation allowed this influential entrepreneur to gain credibility with suppliers, stakeholders and peers along all points of his global value chain, and has helped him position himself as a trade expert when pursuing leadership opportunities.

After 10 years of experience selling products and services internationally Daniel applied for his CITP designation via the executive path. This unique pathway to the designation for those with a decade of executive-level experience in international trade is ideal for those who want to validate their experience and knowledge with a globally-recognized credential.

After telling his inspirational story on national television, Daniel’s first tea shop opened to a packed house.

As word spread about Daniel’s story about overcoming adversity and channeling his passion into a successful business, he started to get invitations to speak to youth audiences and share his entrepreneurial journey. His story was getting the attention of some very well-heeled individuals indeed.

“The biggest milestone in my career thus far dates back to 2017, when we were invited to serve our tea to HRH – Prince Charles | The Prince Of Wales during his Royal Tour to Canada to celebrating our country’s 150th anniversary.” HRH put in a repeat order only a few months later.

A true entrepreneur, he hustles daily to ensure his business’ success, with a hands-on role in sales generation, increasing profitability, marketing and brand positioning, strategic corporate partnerships, managing profit and loss, recruiting and training, web development, communications, daily operations, inventory, customer service and customer experience, international sales and more tasks than you can count.

I plan on being very active with my designation and putting it to work, rather than simply polishing my LinkedIn name. I think there are so many opportunities and networks that I can tap into because of this designation.

Daniel is an active motivational speaker, blogger, podcaster and continues to spread his positive energy throughout his endeavours.

Ken MacDonald, CITP – President & CEO, CLARITY Sales Enablement

Earning his CITP designation allowed this global business leader to quickly and effectively communicate with his clients, prospective clients, and international colleagues how knowledgeable he is when it comes to the strategic and practical aspects of cross-border business.

After over two decades of executive-level experience in international sales and marketing roles Ken earned his CITP designation via the executive path.

As President and CEO at Clarity Sales Enablement, Ken partners with businesses to help them scale-up and enter new markets, guiding them through complex problems in competitive environments and maximizing opportunities while mitigating risk.

“Our clients are focused on global markets, and while not restricted by geography, there are complex challenges in entering these competitive environments successfully. Experience and awareness are key.”

The CITP designation is widely recognized and lends significant credibility to my dialogue as it relates to international business development.

Ken is so convinced of the value of the designation that he encourages and helps the young entrepreneurs he mentors to earn their CITP designation in order to provide them with a competitive advantage.

The post 6 SME business owners talk about the impacts of training and certification on their businesses appeared first on Trade Ready.

Canadians preparing for another year of change to new circumstances can look to the following top government funding programs for winter 2022. They can also take note of current tax incentives that could benefit their business.

Top government funding programs for winter 2022

Agricultural Clean Technology (ACT) Program – Research and Innovation Stream

The Agricultural Clean Technology (ACT) Program – Research and Innovation Stream supports research, development, and adoption of cleantech. These improvements are made possible by innovations in precision agriculture and agri-based bioproducts. Technologies must reduce greenhouse gas emissions and promote sustainable growth to be eligible.

• Amount: Successful applicants can get up to 50-75% of eligible expenses to a maximum of $2M per project or $5M per applicant with multiple projects.
• Eligibility: Applicants can be provincial/territorial governments in Canada, for-profit agri-businesses, and not-for-profit agri-organizations to be eligible.

Canada Summer Jobs (CSJ)

The Canada Summer Jobs (CSJ) program is dedicated to helping employers offer youth employees supervised, career-related, work experience. With the CSJ, it is a requirement that the work experience gained through the summer placement further develops the skills and knowledge for employees and prepares them for real-world work.

• Amount: Successful applicants can get up to 50% of minimum hourly rates for employees. Some non-profits can receive up to 100% of minimum wage. Funding through CSJ is capped at $300K per employer/province or territory.
• Eligibility: For-profit SMEs, non-profits, and public sector organizations are eligible if they have less than 50 employees. Placements for youth employees should be full-time (30-40 hours/week) and last between 6-16 weeks.

Canadian Food Innovation Network (CFIN) – Booster stream

The Canadian Food Innovation Network’s (CFIN) program helps food and beverage organizations in Canada that bring innovation to the food industry. This stream funds the research and development for tech readiness level initiatives one-seven. CFIN’s intent is to make Canada a food and beverage leader in the world.

• Amount: Applicants can get up to 50% of costs for projects ranging from $20K-200K. Costs incurred prior to approval will not be eligible. All approved projects are subject to a 5% fee (by CFIN) according to total costs.
• Eligibility: Must be incorporated for more than one year, have fewer than 500 full-time equivalent (FTE) employees, and have less than $50M in taxed revenues per year. Lastly, successful applicants must be CFIN members upon approval.

Innovative Solutions Canada (ISC)

ISC offers grants and procurement contracts to stoke innovations in technology research and development for commercialization in Canada. ISC supports startups and SMEs to surpass technology development obstacles in producing globally-demanded products and services, while also improving government operations.

• Amount: Phase 1: Grants up to $150K; Phase 2: Grants up to $1M; Phase 3: Government procurement contracts with no fixed maximum.
• Eligibility: For-profit, privately held Canadian businesses with fewer than 499 FTE employees.

Top government loan programs for winter 2020

Business Scale-up and Productivity Program (BSP) Southern Ontario

The BSP Program helps Canadian organizations adapt technologies to improve their productivity. Funding stimulates early adoption or adaptation of innovative tech and processes, commercializing/producing new products or processes, expanding management capacity, and researching/developing export markets.

Are you researching new markets for your business? Learn how to do it the right way with the FITTskills International Market Entry Strategies online course. 

• Amount: This is a contribution (no-interest loan) that is repayable and offers up to 35% of eligible expenses to a max of $10M. Minimum ask of $500K allowed.
• Eligibility: Southern Ontario SMEs that are incorporated and have been profitable for more than three years. Must have a minimum of five employees. Pre-revenue companies and those with fewer than five employees require proof of scale-up potential.

Canadian Agricultural Partnership (CAP)

The Canadian Agricultural Partnership (CAP) is contributed by the federal, provincial, and territorial governments across Canada. This program provides funding for agri-food industry businesses and is the pillar organization responsible for repayable grant funding contributions to SMEs, non-profits, and other major industry stakeholders.

• Amount: The CAP Program offers various streams of federal and provincial funding opportunities ranging from grants and loans for a maximum of up to $10M.
• Eligibility: Eligibility varies from stream to stream. Base eligibility includes Canadian businesses, incorporated and profitable for three or more years. Must have five or more employees.

Strategic Innovation Fund (SIF)

The Strategic Innovation Fund (SIF) is a government funding program at the federal level that supports Canada’s technology and industrial sectors. SIF offers financial grants and loans of up to 50% of a project’s costs with the intent of promoting venture into the types of activities that drive continuous productivity and economic advantages.

• Amount: Minimum funding contribution of $10M per project. Type of financial support awarded is at the discretion of the program; this can consist of a combination of repayable financial support and/or financial reimbursements up to 50% of project costs.
• Eligibility: Incorporated Canadian businesses with high growth potential and the ability to drive innovation.

Southwestern/Eastern Ontario Development Fund (SWODF/EODF)

The Southwestern Ontario Development Fund (SWODF) and the Eastern Ontario Development Fund (EODF) programs encourage businesses to invest in facilities and equipment that can create innovation for the industry. The programs attract SME and large-scale projects that provide a substantial impact on business productivity and create new employment openings within a company. Successful applicants receive grants or a combination of grants and repayable loans to offset project costs.

• Amount: Successful applicants can get up to 15% of project expenses to a maximum of $500K -$5M.
• Eligibility: Applicants must be at least three years incorporated, have more than 10 full-time employees (five FTE in rural communities), commit to creating at least five new jobs, and be located in southwestern/eastern Ontario.

Learn More About Grants and Loans for Your Business

The programs above are intended for small to medium-sized businesses that have been incorporated for at least three years, generate at least $500K in annual revenue, and have 15 or more employees.  If you do not meet these qualifications, please visit Mentorworks source for Canadian Startup Business Resources.

The post Top government funding programs for winter 2022 appeared first on Trade Ready.

By now, most international businesses have learned to adapt and remain flexible with the uncertain economic climate, supply chain struggles, and COVID-19 variant waves. Within this resiliency, they have found the ability to become comfortable with the fact that much of the international trade ecosystem’s future remains unpredictable.

To adapt, they’ve applied better risk mitigations strategies; found alternative shipping, manufacturing, and export providers; adopted digital marketplaces; and applied innovative financial or funding solutions.

As we are fully living in the “new normal,” the struggles have been visceral for many industries. Such as travel, tourism, leisure, and restaurants, but for others, opportunities have arisen. For instance, some technology businesses like Kognitive Spark, a software company based in New Brunswick, saw an increase in clients, applications, target market, and revenue because their augmented reality solution provided much needed remote maintenance solutions to onsite staff, stated to Bernadette Fernandez, in a panel discussion with FITT last year.

Similarly, Fernandez noted that: “I’m also not sure how many businesses want to get back to what we knew as normal… [before] everything was done in excess and we see a lot of things that we want to do differently or less of, like going into a workplace and having a more balanced life. I know a lot of companies now who are actually more successful because they are now able to offer an alternative to travel.”

Her points highlight how those who were able to adapt last year will, this year, now fully become immersed in their new normal. Innovating, becoming digitally savvy, and, yes, growing comfortable with the unknown along the way.

Bearing these notions in mind, we’ve got a list of 10 Global trade trends we’ll be watching in 2022, many of which prove that, as a whole, the international business community has accepted unpredictability as a norm that they can and must thrive in.

1. Moderate economic growth with regional and industry variability

According to the WTO, world merchandise trade volume growth could rise to 4.7% in 2022,” while Export Development Canada’s Global Economic Outlook—Autumn 2021 forecast predicts a 5.5% increase in world economic growth in 2022. These projections echo the Centre for Economics and Business Research’s (CEBR) estimate that the global economy is expected to grow by 4% in 2022.

While there is growth, most are noting that 2022 will be a year of decelerated growth when compared to 2021. COVID-19 variants, supply chain issues, and the tapering off of support programs all contribute to the slowdown.

Similar to last year, the economic progress will vary from region to region, with developed nations making gains more quickly than developing nations as a result of vaccine distribution,  economic policies, and political situations. The World Bank reports that EMDEs (emerging market and developing economies) “…are expected to suffer substantial scarring to output from the pandemic, with growth trajectories not strong enough to return investment or output to pre-pandemic trends over the forecast horizon of 2022-23.”

2. Continued supply chain struggles, but potential improvements dependent on COVID-19 restrictions

In 2021, supply chain struggles dominated the headlines. While many predicted shortages of certain supplies, most did not foresee the host of other issues that were in store for the global supply chain. From pallet and container shortages to major port closures and delays—to even the totally unexpected Suez Canal Crisis, the troubles were numerous. Many of these issues will continue into 2022—though, possibly, might not be as bad.

The WTO predicts that “Supply-side issues such as semiconductor scarcity and port backlogs may strain supply chains and weigh on trade in particular areas, but they are unlikely to have large impacts on global aggregates. The biggest downside risks come from the pandemic itself.”

While Export Development Canada notes, “We expect supply chain and shipping shortages—major issues at the moment—to improve through 2022. But our projections are far from risk-free: Failure to contain COVID-19 conclusively could result in further lockdowns. Inflation could lead to central banks tightening more than the economy can handle, putting the brakes on growth.”

Sarah Schiffling and Nikolaos Valantasis Kanellos noted in an article for Fast Company that the “bullwhip effect”—when changes in customer demands cause repercussions in other supply chain areas—could become a prominent issue in 2022. In 2021, there were already indications of this:

“A combination of the crash in demand for new cars and higher demand for devices like laptops and game consoles (for lockdown entertainment) contributed to the semiconductor-chip shortage,” they noted.

On the flip side, some companies might experience the opposite problem: having too much stock on their hands once consumer demands are fulfilled—requiring businesses to be precise and restrained with their planning.

Businesses and consumers will also have to contend with price increases due to supply problems, but as these become more commonplace, many hope that cooperation from governments and trade bodies will help ease the situation. Factor in COVID-19-related labour shortages within the supply chain force, and there may be quite a few bumps to overcome throughout the year.

3. Hybrid logistics strategies

With COVID-19 lockdowns and border and travel restrictions rising and falling throughout 2020 and 2021, many companies are re-thinking their logistic strategies this year, likely diversifying to create hybrid approaches to their plans.

Last year, some considered localizing supply chains while others diversified and expanded theirs. This year, those who don’t want to set all their eggs in one strategy basket will create a mix of local and expanded networks. This will ensure that if one supply avenue fails, another can take its place.

Similarly, companies that relied on just-in-time manufacturing—the practice of keeping a lean inventory to create products as they are needed (to reduce costs)—began adding just-in-case logistics to their planning. Because of current supply chain issues, many added elements of just-in-case approaches to their plans so they could store more inventory and materials to meet consumer demands during supply chain disruptions.

“Some companies will probably continue to improve their just-in-time with a sprinkle of just-in-case. Others will bring production of some products closer to home markets while also keeping offshore-production facilities to serve local markets,” noted Schiffling and Kanellos in their FastCompany article “Supply chain issues will continue well into 2022—with a twist.”

Learn about supply chain and logistic fundamentals with the FITTskills Global Value Chain online course!

4. Climate Change Disruptions

“Months’ worth of rainfall fell in the space of hours in China and parts of Europe saw severe flooding, leading to dozens of casualties and billions in economic losses. A second successive year of drought in sub-tropical South America reduced the flow of mighty river basins and hit agriculture, transport and energy production,” said WMO Secretary-General Prof. Petteri Taalas in a United Nations Report.

His words, echo the onslaught of climate change disasters and disruptions—including deadly, record-breaking heatwaves and floods across North America—that took place in 2021, and that are predicted to continue into 2022.  

Projections internationally for climate-related disruptions are more serious than ever, with U.K. government researchers recently reporting that next year will be one of the hottest on record, with average global temperatures about 1.96 degrees Fahrenheit over pre-industrial averages.

These forecasts are among the many climate change headlines that will continue to dominate the news in 2022. As climate change disruptions will create human, environmental, and economic disasters throughout the year, they will spur global governments to simultaneously tackle emissions reductions policies and regional planning for natural disasters and severe weather impacts.

5. Increased Climate-Change Policies and Initiatives

As climate change is becoming a more urgent focus globally, many governments, climate activist groups, and businesses are increasing their efforts to adopt circular economies and curb greenhouse gasses and carbon emissions. The recent COP26 summit, for example, garnered massive attention for its convergence of global powers who came together to work toward solutions to climate change. The summit concluded with nations agreeing to phased-down unabated coal production and sped-up timelines for their “nationally determined contributions” or NDCs.

In response to climate change effects, other nations like Canada are increasing carbon taxes. US President, Joe Biden, is pushing for a goal of reducing the US’s greenhouse gas emissions in half by 2030.

International businesses are also increasing their efforts to reduce their carbon footprint. Retailers like Patagonia are implementing a “No more virgin petroleum fibers by 2025” pledge. Alphabet, Google’s parent company, is pledging to become the first major company to run on carbon-free energy by 2030.

6. Political Sanctions

As 2021 wrapped up, there were signs of political strife between many of the world’s major nations. The US, Canada, Australia, and the UK are imposing a diplomatic boycott of the Beijing Winter Olympics over concerns about China’s human rights abuses, while, on the horizon, there could be potential conflicts with a Russian invasion of Ukraine, and China’s political moves with Taiwan and Hong Kong.

The US Commerce Department already is in the midst of blacklisting several Chinese technology companies. This is in response to their alleged high-tech surveillance of the Uighur people. China has already imposed sanctions against four members of the U.S. Commission on International Religious Freedom in 2022. Those looking ahead this year can expect more sanctions between countries, with trickledown effects for industries caught in the crosshairs.

7. Data Security Enhancements

Businesses were already increasing their reliance on technology prior to the start of the pandemic. But now, almost two years into the pandemic, they’ve accelerated their approaches and are now fully immersed in them.

As digital is the only way for many global businesses in 2022, efforts to improve data security will increase. Due to “not only the growth in the number of security breaches but also the rising costs associated with them. A single hack can be enough to severely affect an enterprise’s bottom line as well as reputation. Having the right precautions and business continuity processes in place is vital for long-term success and brand confidence,” notes Simon Waller in a The Fast Mode article.

Unsurprisingly, CNET agrees with these sentiments, noting that in 2022, “The expectation of a ramp-up in hacks, attacks and data theft comes after a massive jump in ransomware—takeovers of computer systems that remain locked down until a ransom is paid—that spilled into consumers’ lives in 2021. Cyberattacks that shut down oil transporter Colonial Pipeline and meat packer JBS USA contributed to temporary gas price increases and meat shortages in parts of the US.”

As a result, governments and businesses globally are increasing their efforts and budgets for data security. They are doing this by making server storage locations, database protection, and prevention plans their top priority this year.

8. Adoption of Artificial Intelligent and Automation

AI and automation technology adoption was already on the rise before COVID-19. Now, with many needing help due to dwindling workforces, remote workplace adoption, and the consumer demand for reduced in-person contact, these solutions are gaining more traction than ever before.

 “This pandemic has created a very strong incentive to automate the work of human beings,” says Daniel Susskind in an article for Time magazine, “Machines don’t fall ill, they don’t need to isolate to protect peers, they don’t need to take time off work.”

Companies globally have applied everything from chatbots for customer support to content-generating AI software to help with their increasing content demands or declining staff numbers. For example, MSN and its Microsoft News service now has AI that can scan and process content, while multiple banks have moved in-person services to online automated offerings to appease customers trying to limit in-person contact.

These offerings will only continue to grow and expand as 2022 moves on. Signaling a sea change for how consumers will do business even beyond COVID-19.

9.  Cold Chain Technology Advancements

Vaccines need strict temperature-controlled storage to remain effective, which is why cold chain technology is big news these days. Enhanced temperature control and reporting systems are being implemented for carriers for vaccines. For example, the Vaccine Freezer Monitor (VFM) system from Timestrip in Cambridge, UK:

“When preparing to transport a set of frozen vaccine vials, the user starts the VFM temperature indicator by pressing a button on the back. The monitor then goes inside the packaging along with the vaccine vials. If the temperature rises above -7°C at any time, the indicator shows an alert,” states an article in Inbound Logistics. Advancements like these will accelerate in 2022 to accommodate one of the world’s most important commodities.

Other innovations, like temperature-controlled packaging and lithium battery alternatives, are moving the industry forward. These innovations are not only for vaccine transportation but also for the food and medical industries. The push to keep this pace going likely will only ramp up as 2022 rolls along.

10. Remote workforce growth and adoption

A survey by the Business Development Bank of Canada (BDC) noted that 74%of businesses plan to offer employees remote work after the pandemic while 55% of employees stated that they want to work remotely as much or more than they do now.

When COVID-19 outlooks improved in some countries in 2021, some companies did eventually require return-to-work scenarios. Though their efforts proved to be short-lived in the face of new COVID-19 variants. Also due to a general cultural shift to demand remote working scenarios regardless of health situations.

Indeed, “the great resignation”—a term coined after businesses saw an influx of employee resignations in the face of return-to-work mandates—has become a common phrase throughout 2021, and in 2022, will likely continue to be talked about so long as employees enjoy their work-from-home (WFH) situations.

According to new 2022 stats, “4.5 million people voluntarily left their positions in November—an ‘all-time high,’ according to the agency responsible for collecting the data,” states an article in The Conversation. These stats aren’t surprising, as life for many employees has changed drastically over the past months. These changes require a reprioritization of personal goals, values, and needs. In 2022, companies will be taking note of this remote work desire and will come up with more options. Such as partial work-from-home scenarios to accommodate the current shift.

2022 will be full of shifts and changes, some foreseen and others unexpected. It’s clear now that we cannot predict our global situation with any certainty with the pandemic still in full force. Those who are embracing this fact are moving forward with ingenuity and innovation. In doing so, they’ll make gains and solutions that could move international business into a new era of resilience and progress—and that’s something that everyone can look forward to.

The post 10 Global trade trends we’ll be watching in 2022 appeared first on Trade Ready.