With geopolitical tensions reshaping supply chains, unilateral tariffs disrupting established trade agreements, and regulatory complexity increasing across regions, global business decisions carry more weight and risk than ever before.

According to the World Trade Organization, global merchandise trade volumes are projected to grow in 2026, but at a slower and more volatile pace than in previous decades, driven by geopolitical fragmentation and policy uncertainty. In other words: opportunity is there, but so is risk.

Against this backdrop, the most successful organizations are not asking whether they should grow internationally. They’re asking smarter questions about how.

1. What are some of the most important steps to take before venturing into a new market?

One of the most common mistakes in global expansion is reacting to opportunity before assessing readiness.

Before venturing into a new market, organizations should conduct a situational analysis, including assessing organizational readiness and planning and analyzing the results of international market research. This is not simply a planning exercise, it is a risk filter.

As the guide explains, “Before an organization embarks on a new initiative in international trade, it is important to assess the organization’s current conditions, attitudes, and resources”. This assessment helps determine whether the initiative is feasible and whether the potential gains justify the exposure.

Companies that skip this step often become reactive exporters, responding to inquiries without clear strategy or trade expertise. In today’s environment, readiness is a competitive advantage.

2. What international market research do you need to do before expanding into a new market?

International expansion demands structured research, not guesswork.

The guide outlines a seven-stage approach to international market research, beginning with defining the research objectives and progressing through stages such as screening potential markets, selecting the research design and data sources, and ultimately presenting conclusions to then apply the research. Each stage reinforces disciplined decision-making.

Beyond methodology, macroeconomic indicators play a critical role. The guide highlights key data points including Gross Domestic Product (GDP), GDP per capita, Household Disposable Income, market size, unemployment rate, population, and inflation rate. These metrics help businesses evaluate market suitability and purchasing power before committing resources.

In other words, expansion decisions should be evidence-based—not optimism-based.

3. How do tariffs introduced unilaterally by the U.S. government affect trade between Canada, the United States, and Mexico, even with CUSMA in force?

North America illustrates how quickly trade conditions can shift.

While CUSMA is designed to facilitate trade, recent unilateral tariff actions by the U.S. government (2025) have disrupted this predictability. Businesses that once relied on stable, tariff-free access have faced sudden cost increases and regulatory uncertainty.

As a result, companies must assume volatility. The guide notes that businesses must assume the possibility of future, unexpected tariffs and plan accordingly. Practical strategies include diversifying supply chains, strengthening trade expertise and maintaining contingency plans.

The broader lesson extends beyond North America: formal agreements do not eliminate political risk. Professionals must remain agile and informed.

4. What integrative export and FDI approaches can businesses employ when expanding into Asia?

International growth is not limited to exporting finished goods.

Organizations can expand through export, international transfer, international partnering, or through FDI. Within these pathways are multiple approaches: indirect export, direct export, licensing, franchising, strategic alliances, representative offices, greenfield investments and mergers and acquisitions.

Each model carries different levels of investment, control and exposure. For example, the guide explains that Greenfield/Brownfield investing is the riskiest and most expensive market expansion option. Conversely, indirect export may limit risk but also reduce market visibility and control.

Selecting the right strategy requires alignment between organizational capacity and long-term objectives. There is no universal blueprint, only informed decision-making.

5. When a company expands into a new market, how important are cross-cultural considerations?

Market entry is not only about economics and logistics. Cultural alignment can determine success or failure.

The guide emphasizes that understanding and adapting to cross-cultural differences is critical for success. Communication styles, consumer behaviour, marketing imagery and negotiation practices can differ significantly between markets. Ignoring these nuances risks damaging relationships before they begin.

Cultural intelligence reduces friction, accelerates trust-building and strengthens long-term positioning.

6. How are tariffs determined on products that are being exported?

Amid strategic discussions, technical fundamentals remain essential.

A tariff is the rate that is used to determine the amount of duty that will need to be paid to the government of the importing country when goods are shipped internationally. Tariffs are determined using the Harmonized System (HS) of nomenclature, an internationally standardized coding system. Many governments have online tools for importers and exporters to determine and obtain a HS code for their materials and products.

Accurate classification directly affects cost, compliance and clearance timelines. Errors can lead to delays, penalties or reputational damage. For international professionals, understanding these mechanisms is not optional, it is operational risk management.

A more disciplined approach to global growth

Across regions, from the United States to China, the Middle East and the Caribbean, the opportunities are real. So are the risks. Regulatory unpredictability, infrastructure differences and currency considerations all influence outcomes.

As the guide concludes, a well-informed and adaptable approach is central to long-term success.

For professionals navigating global markets today, the essential questions are not simply “Where can we grow?” but:

• Are we prepared internally?
• Do the macroeconomic fundamentals support entry?
• What risks exist within the regulatory and political landscape?
• Which market entry model aligns with our capabilities?
• Do we understand the cultural and compliance dimensions well enough to execute effectively?

Exploring these questions in greater depth, along with region-specific insights and practitioner perspectives, can help organizations move from reactive expansion to structured global strategy.

For readers interested in examining these issues further, the Essential International Trade Questions Answered guide offers additional context and practical insight drawn from experienced international trade professionals.

The post 6 Essential questions every international business professional should be asking before they go global appeared first on Trade Ready.

Gaps in knowledge are among the top reasons that some small and microbusinesses don’t yet export their goods or services, according to the Canadian Federation of Independent Business (CFIB).

Regulatory hurdles and expenses are other factors keeping many small businesses local. This guide to exporting provides an overview and resources to help you get started if you want to sell your products and services in international markets.

How international trade affects Canadian businesses

In recent years, government statistics show that international trade accounted for nearly two-thirds of the Canadian GDP.

Canadian business exports add 3.3 million jobs to the economy. To put that in context, that’s nearly one in six Canadian jobs.

Even if your business is secure, you may still want to scale it to take advantage of opportunities for growth.

For businesses of any size, exporting provides the opportunity to find new markets, scale your business, and become more resilient in a volatile economy. Yet, as recent research from the CFIB shows, only a minority of Canadian small and medium-sized businesses are currently seizing these opportunities.

Step 1: Are you ready to join the global market?

The first step is to decide whether your business is ready to expand into international trade. Identify which of your products or servicesmay appeal to consumers in other countries. Next, figure out whether the investment is likely to be worth it by doing a feasibility study and thorough market research.

FITT’s Export Vision Board can help you realize what exporting might look like for your business.

You can use the Export Vision Board template to visualize and capture the critical components for your international market expansion.

If you’re not sure what to include, there are 3 examples of completed templates including B2B product exports, B2C product exports, and service exports to inspire you and help you get started.

If you want to dig deeper, consider taking some training like the Feasibility of International Trade course, which was designed to help businesses of all sizes assess whether international opportunities are viable, and if the potential benefits outweigh the risks and costs.

Once you decide whether exporting is a good move for your business, start making a plan so your actions will be strategic, not accidental. Identify your target consumers and how you offer something better than what they might find locally.

Continue to revise and change your export plan as you learn more.

Step 2: Learn the bureaucratic requirements for your industry

Each industry has its own set of regulations and laws to work within when it comes to exporting or importing.

Exporting in Canada means actively engaging with multiple government, legal, and financial frameworks.

Your first step is learning what is required within your industry. For example, exporters must comply with regulations enforced by the Canada Border Services Agency (CBSA). These regulations may include export classification, permit requirements, and rules for export reporting in Canada.

The value of your product plays a role. All exports above $2,000 require a declaration using the CBSA’s Canadian Export Reporting System (CERS) and may also need special permits from Global Affairs Canada. Also, don’t forget taxes that may apply, like Goods and Services Tax (GST) and Harmonized Sales Tax (HST).

As you unravel the requirements, use that information to update your plan. Does this knowledge change the logistics of how you will get the product or service to your prospective customers abroad? How does this affect your budget and costs? How will you cover these added expenses?

Not only do you need to be aware of Canadian trade regulations, but also those in your export destination country. Once you have a sense of the fees, taxes, and tariffs involved, you are in a better position to plan. Just be aware that laws, tariffs, and taxes change.

If you have been keeping up with U.S. news, you may wonder if now is the right time with increased tariffs on certain exports to the United States.

In international trade, like in life, change is one of the few constants.

These changes and potential culture changes make the new trade environment more complex, but you have a couple of options.

Now is a time when you could focus on building your market outside the U.S., or you could focus on learning the ins and outs of expanding your North American market. Either option has a unique set of challenges, and both require a nimble approach as you adapt to any unfolding changes.

Step 3: Identify your supply chain and budget

Map out the specifics within your supply chain from planning, manufacturing, marketing, and getting the product to your consumers. If you offer a service, this may be easier, but you should go through the same steps.

Some of these steps are likely already part of your business workflow. Spend a little extra time on the added steps, such as any permits and reporting you may need to do. Also, note any changes to your product as your export country may have specific standards for its own regulations, safety standards, or documentation requirements. Will you need to translate any of your packaging or materials?

Update your plan and put together a budget. Do you need to raise additional capital in order to build the export branch of your business? If so, take the time to look into business development loans, grants, and investment capital options.

Step 4: Develop your marketing and fulfillment plan

Marketing your products abroad is challenging. But thanks to the internet and social media, your customers are more accessible than ever. The hard part can be effectively communicating with potential customers in a language you are not fluent in. If this is your plan, be sure to partner with a quality translation and localization service.

Since you take on additional financial risks when exporting, you want to be sure to conduct market research and develop a comprehensive marketing strategy.

At this point, you may be in a better position to revisit your risk assessment. What are your export-specific risks beyond those you face as an entrepreneur in your home country? Craft a plan to mitigate those risks.

In summary, learning how to export in Canada is a multi-step process that includes:

• Assessing whether your business is ready
• Developing an export vision that aligns with your business goals
• Conducting market research as well as feasibility analysis
• Understanding export regulations and compliance
• Managing tax, payment, and GST/HST implications
• Identifying and managing export-specific risks
• Building a formal export plan with a timeline for implementation

The challenges and complexities of running an export business can be overwhelming. But there is plenty of support available to businesses of all sizes looking to grow globally.

The thing that trips up many businesses that are new to importing and exporting is “knowing what they don’t know”.

Or in other words, getting a full picture of what is involved in setting themselves up for success in international markets, and how to avoid common pitfalls that come with inexperience.

Exploring training to fill in knowledge gaps, hiring outside help that bring in much-needed expertise, and seeking guidance from trade advisors and locally-engaged support such as the Trade Commissioner Service, can make what may seem daunting doable.

The post How to start an export business in Canada appeared first on Trade Ready.

When Nil Özçelik Razavi, PhD, first moved from Turkey to Canada in 2007 to complete her doctoral research in Translation Studies, she never imagined she would one day be working in international trade. Yet her journey from academia to becoming a Certified International Trade Professional (CITP) shows just how powerful career reinvention can be.

A new professional path

After earning her PhD and teaching for several years, Nil realized that opportunities in academia were limited. “I worked in the field of language instruction for a few years while thinking I might need a career conversion at some point,” she explains.

That career shift came when she was hired as a Trade Expert at the Commercial Office of the Turkish Embassy in Ottawa. Drawing on her research background and analytical skills, she quickly adapted to the demands of international trade. What began as a new opportunity soon grew into a meaningful career helping businesses from Turkey and Canada connect.

Representing her country abroad

For Nil, one of the most rewarding aspects of her work is engaging directly with trade delegations and Canadian businesses. “My favourite moments are the ones shared with our incoming trade delegations and presentations delivered in different business settings in Canada,” she says. These events, she adds, are not just about exchanging information. They are about building valuable connections that can shape future trade relationships.

Collaboration is another part of the role she values deeply.

“I sincerely take immense pride in being part of our Commercial Service, working in a diplomatic setting and serving as a bridge to enhance trade relations between the two countries.”

For her, success in international trade is always the result of teamwork.

Shifting careers required not only new skills but also perseverance. Nil has learned firsthand how vital resilience is in both personal and professional growth. “It does not matter how slowly you go as long as you do not stop,” she says, quoting Confucius. That philosophy has guided her through challenges and continues to motivate her as she grows in her trade career.

Building confidence with FITTskills

To strengthen her expertise, Nil turned to FITTskills training. She describes the courses as both practical and confidence-building.

“The courses covered a wide range of topics in the field of international trade and offered the core knowledge to enhance my skills as a professional. You feel well-equipped after completing the coursework. It is a good feeling.”

Her favourite course was International Market Entry Strategies, which gave her tools to conduct competitive market research and identify opportunities. She also points to Feasibility of International Trade as particularly useful, since it broadened her ability to analyze sectors at a macro level and anticipate trends. Together, these courses provided her with the analytical frameworks she now uses daily to support businesses in exploring new markets.

Taking the next step with the CITP designation

With her growing expertise and practical experience, Nil decided to formalize her skills with the CITP designation. “The reason I chose to apply for the CITP designation is because this is the highest level of professional accreditation for international business and trade professionals,” she explains.

When she received the designation, it was more than just a line on her résumé. “It is great to be a part of the CITP community, and it means a lot to me, so much so that I proudly hung up my framed CITP designation on my office wall.”

The impact of holding the CITP designation

Earning her CITP has enhanced Nil’s career in multiple ways. It provided validation of her skills and gave her a new perspective on leadership in international trade.

“The designation contributes to my career by officially recognizing my experience and by helping me stay current with new developments and trends.”

Nil also highlights how the CITP has influenced her leadership approach: “In international trade, leadership means creating a culture where every team member feels empowered to think critically, act proactively, and adapt to changes. This mindset is essential for transforming challenges into opportunities and ensuring sustained, trust-based relationships.”

A continuous journey of growth and adaptation

Now that she has been a CITP for over a year, Nil sees the designation as a launchpad for continued growth. She is committed to applying what she has learned to strengthen trade relations between Turkey and Canada and to help businesses navigate the complexities of global markets.

For professionals considering a career in trade—or a career change—she offers one piece of advice:

“Career reinvention is a continuous journey of growth and adaptation.”

Nil’s own journey proves just that. From academic researcher to trade expert, and now a CITP recognized for her expertise, she has shown how resilience, continuous learning, and the right credentials can open new doors and new horizons in international trade.

The post CITP Spotlight: Nil Özçelik Razavi, PhD – Trade Expert, T.C. Ticaret Bakanlığı appeared first on Trade Ready.

It’s an active, creative role, in export experiments.

Why? Well, let’s consider the alternative. If finance leaders don’t involve themselves in the early stages of the process or take their seat at the table, it’s easy (and sometimes tempting) for sales and marketing teams to work around them in the interest of speed (which can mean haste) and simplicity (which can mean lack of oversight).

So to avoid being worked around or waiting to be asked, you can reframe the role. What if international expansion wasn’t a plan to approve, but an experiment to help design?

This article breaks down, in easy-to-implement terms, how finance leaders can add value to international expansion conversations, collaborate successfully with their energetic sales and marketing teams, approach pricing, and help shepherd a sound strategy through the hurdles of budgeting and resourcing.

First off, why should you expand into international markets?

The usual reasons for seeking international expansion are overall business growth or diversification in pursuit of long-term sustainability. Simply put, many businesses see international expansion as a way to grow or maintain their business by finding markets that they can access efficiently, by leveraging their current capabilities and resources.

Simple enough in theory. But to avoid becoming embroiled in a complex reorganization of resources, or blocked by regulatory obstacles, it’s important to have a clear picture of what success looks like ahead of time and what could get in the way.

That starts by acknowledging the various entry paths, and selecting the one that best fits the organization’s needs and abilities.

And you, as finance leader, play a role in these early conversations, as you bring a unique perspective to the table. You’re helping design the experiment after all.

Choosing a balanced path to expansion

Organizations typically choose between two options, or attempt to strike a balance between them:

1. “Run & Discover”: Plan loosely ahead of time and revel in the agile adaptation process as you learn about the new market by actively participating in it
2. “Plan Ahead”: Work out as many details and contingencies as possible ahead of time and methodically enter the new market prepared to conform to its requirements

As you can imagine, these two paths benefit from balance. To enter a new market completely blind, even with a propensity for flexibility, would be fool-hardy. And assuming you could ever understand a market completely without ever being part of it would be naive.

A balance must be struck.

And you can strike that balance by running an “FVP check”:

Feasible, Viable, Profitable.

It’s here that you can speak up in those early export conversations and help the individuals planning for international expansion test the feasibility, viability, and profitability of their entry plans.

Core questions to be asked—and that Finance will help answer:

1. Is this idea feasible?

• Can we do this logistically with what we have today, or do we need to adjust something?
• Can we do this legally, with the permits and certificates we have today, or do we need other credentials?
• How much time and budget would we need to get ready? Do we have that available or accessible

2. Is this a viable path?

• Does this have longevity or is this a seasonal trend?
• Is this a reaction to a domestic market change?
• Are we responding to consumer demand or is this a blank slate approach?

3. Can we do this profitably?

• What is the profit margin we want (or need) to realize?

By identifying the feasibility, viability, and profitability of the expansion efforts, you are rewarded with clues as to which path to choose and how to balance its upsides and downsides.

For instance, if the organization determines FVP is a resounding ‘yes!’ and this is driven by both leadership energy and consumer demand with a seasonal timeline, it may want to lean toward a more adaptive and flexible approach (aka Run & Discover), making changes as the market context reveals itself.

But if the organization needs time to shore up logistical steps and is responding to changes domestically, with narrower profit margins, it may want to lean toward a more thorough and detailed plan before taking the next step. This could help ensure that it doesn’t financially overstretch itself in the early days and put undue pressure on the business and teams.

But it’s one thing to identify a market that might be ready for a new entrant. It’s entirely another thing to ensure the new entrant (your organization) is ready for the expansion.

How can Finance help manage these risks? By seeing things as experiments to be explored, established, and tested. This isn’t about creative brainstorming. It’s about shaping credible, constrained experiments. Ones that protect margin, mitigate risk, and give your team confidence to move.

Selecting the right sales channels

Once you’ve chosen your path, international sales and marketing expansion requires choosing your channels. And these have many financial considerations and impacts:

How will you sell and market your products or services in a different geography? How will customers become aware of the opportunity, how will they purchase it, and how will their purchase be fulfilled or delivered?

These can feel like Sales and Marketing questions, but savvy finance leaders get involved in these creative conversations.

The answer to these questions starts with an “assessment of control”.

Think about it this way: If the organization doesn’t need any control and doesn’t care to have it, you can partner with a firm that will handle all of these pieces for you and send you a cheque for sales and/or a bill for services rendered.

If it requires all the control, you’ll likely need to set up a permanent, local office to handle marketing, sales, distribution, and delivery. Not to mention the legal and regulatory paperwork and communication.

As you can see, the likely best path forward for most organizations is some balance between these two extremes. Therefore, you want to consider your capacity, your customer’s expectations, and the market’s behaviour.

For example, does anyone in the company speak the language? Can someone regularly travel to the market? Do you have the team bandwidth to manage a new market, or will you need to hire? What does your customer expect: hands-on help, asynchronous support?

The ensuing Venn diagram of your capacity, customer expectation, and market behaviour, will reveal an ideal market entry strategy to explore, and direct the pricing strategy to adopt:

• Direct or Indirect (aka Trading Entry) where you can leverage the supports of agents, resellers, distributors and wholesalers if you want extra help along the way
• Through licensing, franchising, or subcontracting (aka Transfer-Related Entry)
• With physical presence in the foreign market (aka FDI Entry)

You’ll notice that all of these have associated costs and/or savings and will impact (and be impacted by) the firm’s profitability.

Choosing the level of profit margin your organization wants to maintain or achieve is often either market-driven or value-based. And your export experiments will be structured around it.

Setting your starting price

Your prices can be set by the market and its expectations and bargaining power, or they can be set based on your costs and the value delivered with an additional margin added on.

This is another critical area for finance leaders to be involved in conversations and decisions. It may not be clear to sales and marketing teams what a planned price will do to the organization’s overall profitability, even if it makes the product or service easier or more likely to sell.

Conversely, sales and marketing teams may not be aware of opportunities to create savings or provide lower prices by benefiting from the firm’s financial capacity or tolerance for risk.

Pricing and selling decisions, made in a vacuum, are unlikely to fully account for your organization’s financial situation, requirements, or goals.

One key area to fully investigate is the “Export Price Floor”: That is, what is the absolute minimum at which you could sell into a new market without losing money?

To design the right experiment, you need to know it, including the often-overlooked export costs that can quietly undermine profitability.

Additional product costs can include:

• Modifications for market requirements
• Certifications for safety testing
• Packaging adaptations

Additional Sales and Marketing costs can include:

• Travel and trade shows
• Website adaptations
• Legal reviews

There are shipping and financial trade costs too:

• Duties, customs, and clearance fees
• INCOTERMS implications for insurance and payment timelines
• Commissions and professional service fees

If the price floor is higher than sales and marketing feel is feasible, this could trigger a careful look at the feasibility of the expansion. If the price floor, however, is well under what is deemed achievable, that represents a significant opportunity for profit.

And then, of course, there is the ceiling. Sales and marketing will likely have a clearer sense of the absolute maximum at which they could sell into the new market and still expect any customer uptake.

It is the balance, the just-right Goldilocks scenario, struck between these two boundaries that represents your “experimental space.”

No matter how thorough the pre-planning or preparation, it is unlikely that the first price will remain the permanent price. Costs will change as scale develops, competitors will emerge as success is demonstrated, and customers will assert their bargaining power as familiarity builds.

That’s why it’s key to see this range of possible prices as a space in which to credibly experiment. To find the right price by experimenting with what is possible and what is preferable to the firm and its customers.

It’s imperative for you to be comfortable with the terms and structure of those experiments. And that’s done by being at the table, collaboratively designing them from the start.

The winning mindset is a team mindset

Success is a team effort.

Financial leadership can guide teams toward successful expansion into new markets. But only if you’re playing an active, interested, and engaged role on the team.

When it comes to international expansion, nobody gets to stand on the sidelines and still expect to influence the final results. Your leadership will be critical to your team’s success.

So, with these reminders and questions on your mind, it’s time to proactively guide your organization’s expansion.

Because when you help design the experiment, you don’t just approve a plan.

You create the ideal outcome.

The post Why the finance team should be part of your international expansion plans from day one appeared first on Trade Ready.

In the current trade environment with all the disruption we’ve seen lately, there’s been a lot of talk about the importance of diversification, diversifying your export basket, and finding new customers. But in order to expand and explore new opportunities, each organization needs to have a clear vision of what exporting looks like for them, whether it’s opening up new markets or exporting for the first time.

This vision will act as a strategic roadmap, guiding your decisions and helping develop your more detailed export plan.

What is an “export vision board”?

All organizations fall along a spectrum from “export unaware” to “export experienced,” and we call that the export continuum. Regardless of your position, it’s vital to assess your readiness and clarify what exporting means for your business. Some companies are just beginning to explore the idea, while others have experience in one or more international markets and are seeking further growth.

For the Export Vision Board, it doesn’t matter where an organization is on the continuum.

It’s important to have the ability to work through various considerations in order to piece together what exporting into new markets might look like for your company. And what are your immediate next steps?

Is now the right time to export?

Why export with all this talk about tariffs and retaliatory tariffs and trade uncertainty? Well we know that exporting can be profitable for businesses of all sizes, and on average, sales grow faster, more jobs are created, and companies who export gain a significant competitive advantage. What’s important is that you need to understand the motivational factors for expanding.

Entering new markets requires significant time and resources, so it’s crucial to understand your motivation. Are you seeking new revenue streams, responding to market changes, or aiming for long-term growth?

Clearly defining your goals will help align your team and stakeholders around your export strategy.

Many companies struggle to know where to start, often overwhelmed by competing priorities. The Export Vision Board provides a structured approach through nine key considerations to clarify your direction and outline practical next steps.

Characteristics of a successful exporter

In the FITTskills training program we define the characteristics of a successful exporting organization. Here’s a mini checklist for you:

Proven success at home. Your company should have a solid track record in the domestic market or in at least one export market, showing traction and effective business planning.

Unique Value Proposition. Your product or service must offer clear advantages over competitors and be competitively priced—not necessarily the lowest, but justifying its value.

Long-term commitment. Be prepared to invest time, resources, and capital, often for an extended period before seeing returns.

Research and cultural awareness. Conduct thorough research to evaluate your export readiness, understand cultural differences, and address any gaps identified.

Clear export vision. You need a well-defined vision for entering and competing in new international markets.

FITT’s Export Vision Board was created to act as a resource for building this kind of clear vision. Using material taken from all of the six FITTskills courses, it can be used by companies of all sizes and stages to identify the fundamental components of a successful market expansion strategy.

Many companies struggle to know where to start, often overwhelmed by competing priorities. The Export Vision Board provides a structured approach through nine key considerations to clarify your direction and outline practical next steps.

The 9 Key Areas of Consideration for your export vision

The Export Vision Board walks you through nine critical questions to shape your export vision:

1. Why Export?

Identify your motivation for expanding internationally—whether it’s to overcome trade barriers, find new revenue, or increase competitiveness. Set clear objectives that align with stakeholder interests.

2. What Makes Me Different?

Define your unique value proposition. What sets your product or service apart, and why would international customers choose you over local or global competitors?

3. Where Do I Want to Export?

Pinpoint your target markets with specificity. Avoid broad regions; instead, focus on particular countries, states, or even cities where you have the highest potential for success.

4. Who Are My Customers?

Segment your target customers in each market. Understand their behaviors, preferences, and the types of relationships you’ll need to build—whether B2B or B2C.

5. How Will I Enter the Market?

Determine the channels and strategies for delivering your value proposition. This may involve direct sales, partnerships, distributors, or digital platforms, and will depend on your customer segments and local market dynamics.

6. How Will I Make Money?

Identify your revenue streams and major costs in each market. Pricing strategies may need to adapt to local conditions, and your approach may differ from your domestic market.

7. What Key Partnerships Do I Need?

Assess existing and required partnerships—logistics providers, agents, local allies, or third-party service providers. Leverage current relationships and seek new ones that are essential for market entry.

8. What Resources Do I Need?

Take stock of your physical, intellectual, financial, and human resources. Identify gaps and determine whether you need to secure additional funding, expertise, or personnel to support your export plan.

9. Where and When Do I Start?

Outline the key activities and next steps to launch your export journey. Set realistic timelines and budgets, and ensure your goals are achievable within your desired timeline.

From vision to action

Many organizations get stuck between ambition and execution. The Export Vision Board bridges this gap by helping you articulate your goals, identify necessary resources, and map out actionable steps. For example, your immediate next steps might include applying for funding, attending a trade show in a target market, or initiating contact with potential partners.

Breaking down your plan into manageable actions and establishing a timeline will keep your expansion on track.

Getting started with the Export Vision Board

Developing your export vision is the crucial first step toward a successful export plan. FITT’s Export Vision Board is a fillable template covering all nine areas, with completed examples for B2B, B2C, and service exports to guide you. By working through these considerations, you’ll be better prepared to navigate the complexities of international markets and position your organization for sustainable growth.

The post The missing link between ambition and an export plan is an export vision – here’s how to build yours appeared first on Trade Ready.

It’s not a rhetorical question. At least not if you’re talking about a specific form of fog: fogponics technology, which increases water efficiency when growing plants. The technology comes from NASA, originally part of a project to grow food on the International Space Station. And at Plantaform, an Agritech startup employing fogponic technology for the at-home gardener, fog is a game-changer.

Plantaform, a cleantech startup based in Gatineau, Quebec, Canada, is the brainchild of co-founders Alberto Aguilar, Kiwa Lang, and Georges Hamoush. While reading an article about fogponics during his studies in industrial design at university, Lang immediately recognized how water-efficient it might make a home garden.

He became obsessed.

“He made [fogponics] his entire thesis,” reports Aguilar, who first met Kiwa while attending high school together in Dubai.

“When he was initially developing this project we were living in two different continents. But Kiwa knew I had an entrepreneurial background and I used to work in a startup which I co-founded—working on bacteria mutation for cannabis—and he reached out asking me if we could start a business with this technology.”

With Canada importing 90% of its leafy greens from Mexico and the U.S.—and the UAE importing some 98% of its leafy greens from neighboring countries—it seemed like a revolutionary technology for an underreported problem.

And it all comes back to a simple idea:

The Nespresso machine.

The product: Understanding Plantaform

Plantaform is an indoor gardening system similar to a Nespresso machine. With a touch, you can grow up to 15 different varieties of plants—the same way you might brew a single cup of coffee.

Plantaform works by inserting capsules into the system, adding some water, and then clicking a button. The plants can be ready to harvest as soon as four weeks later. What’s revolutionary here is “fogponics,” the new technology pioneered by NASA.

This has become the most water-efficient technology in the world—using a suspension of nutrient-laden water to deliver the oxygen and nourishment each plant needs at a root level.

The concept is similar to aeroponics, except instead of using mist action to deliver these nutrients, the sustenance is delivered through a steady fog.

“I found the concept fascinating,” says Aguilar of the early prototypes for Plantaform. “I never saw a product like it. It looked very futuristic.”

Plantaform now offers a variety of plant pods. Herbs. Basil. Mint. Leafy greens and edible flowers. This diversity gives Plantaform’s users fresh, organic produce year-round, complementing their home gardens and reducing food waste.

“Food waste is a major issue,” Alberto explains. “We aim to minimize this by allowing people to grow what they need and avoid the common problem of produce spoiling before it’s used.”

With a revolutionary way of growing greens indoors and a prototype in hand, they decided to start Plantaform. By October 2019, they spent every day doing research on the problem of unsustainable or inefficient plant cultivation.

“We saw a huge problem that we could address with this product,” says Aguilar. “And that problem was sustainability.”

Understanding international business through the carbon footprint lens

Leafy greens are big business. With Canada importing 90% of its leafy greens and water-poor countries like the UAE relying even more heavily on imports, the transportation system is under increasing strain to deliver plants to the people who need them. This is a problem. Greens are being shipped internationally via carbon-intensive trucks. Fogponics could make leafy greens a cinch to cultivate at home.

According to Aguilar, self-sustainability was one of the key reasons for Plantaform. But shipping their product across borders proved to be an unexpected obstacle.

“We’ve faced a lot of challenges when exporting an agritech product and consumables.”

Exporting produce—especially seeds—is complicated. “Seeds are a very delicate matter when exporting. And so our first export was actually to the U.S.—and that device did not make it through the border.”

The problem? Regulatory load. Plantaform did not have its phytosanitary certification, which meant the products were sent back. And when the products were returned, they didn’t arrive in great condition.

“I’m telling you,” says Aguilar, “It was destroyed.” Customs had reportedly opened the box and turned the device upside down, resulting in scratches everywhere and a device that was no longer salvageable.

The U.S. wasn’t the only problem. Plantaform experienced the same problem on a shipment to Italy, having sent a custom device to a new investor and partner, Formula One driver Yuki Tsunoda. The product was bounced back at the border. The issue? Once again: certifications.

If Plantaform was going to succeed, it needed to start creating an export plan—and dealing with the certification processes.

Certifiable: Blazing Plantaform’s path through international trade

Aguilar and the other co-founders knew that the key to getting Plantaform’s products to their international customers was to obtain the proper certifications. And they’ve found some strategies that have worked:

• Shipping in bulk. Plantaform knows that if its company is going to succeed, it’s going to have to achieve scale. And while one or two machines might have gotten across borders at the prototype stage, larger orders are more likely to raise red flags. “One of the ways that we’ve addressed this challenge has been shipping [products] in bulk,” reports Aguilar. This makes it easier to obtain one phytosanitary certification for each batch. According to Aguilar, that strategy is currently in place for Plantaform’s U.S. expansion.
• Developing an international presence. Plantaform has also expanded its global footprint. They recently registered a new corporation in Florida and are shipping “loads” of new inventory to a 3PL warehouse in Vermont. Once the products are in Vermont, it’s much easier to ship locally within the U.S. without concerns over any new certification issues.
• Add-your-own-seeds. The original device came with its own seeds, which made it more convenient. This was essential since the Plantaform systems are capable of adapting their cultivar conditions to each seed. But now Plantaform is experimenting with an add-your-own-seeds approach. The device can use machine learning (ML) to learn what’s growing, adapt to its needs, and adjust the cultivar conditions independently. It’s still a hands-off approach for the consumer. And since this system doesn’t require specific seeds to ship with the devices, there will be fewer shipping rules to worry about.
• Training. When Plantaform started, they weren’t aware of FITT, which offers training for handling the difficult logistics of dealing with customs. Aguilar has dubbed their learning process one of “trial and error,” with continuous adaptations as they learn the risks inherent in global trade. They’re also being proactive with how they learn, taking advantage of the Feasibility of International Trade course and the Creating an Export Plan course to be more systematic and avoid costly pitfalls

It’s been a long process of learning and adaptation for Plantaform. The company has learned that compelling technology isn’t always enough to make business success happen at scale. But thanks to these innovations, the future for fogponics is looking clear.

It’s a global market, and Plantaform’s seven-person team based in Gatineau, Quebec, has big ambitions. Plantaform manufactures its product in a factory in Montreal, so it’s fully Canadian and Quebec-made.

It’s a point of pride for the team—but it has led to some challenges. One of the appeals of creating a fogponic system for growing greens at home is that it can separate plant lovers from an intensive global supply chain. But to extend its reach to those customers—including those who need it the most—Plantaform has had to embrace a new challenge. They have to learn how to extend products and services to a global market.

Helping the world deal with the sustainability crisis

Pick up a piece of fruit at the store. The sticker likely won’t read “locally grown.” In fact, chances are good that the fruit came from another side of the planet.

“Every piece of produce that you buy in the supermarket has traveled an average of 2,400 kilometers just to get to your door,”

And that’s a major problem. It’s hard to get serious about environmental concerns like carbon dioxide removal when something as simple as purchasing an orange at the store may require ridiculous amounts of carbon just to make the logistics work. With geopolitical concerns weighing on the feasibility of international trade in the long term, the world is in dire need of sustainable solutions for cultivating fresh produce.

Plantaform’s goal is to make at-home produce more convenient and accessible—like starting up a Nespresso pod. For starters, growing produce at home reduces greenhouse gas emissions. Rather than relying on an extensive trade network that brings produce from one area of the world to another, people can enjoy fresh, organic produce year-round. If users are growing their greens at home, there’s also less food waste.

The idea is simple: put more control in the consumer’s hands. “We can try to buy organic products,” says Aguilar, “but how do we know if it’s truly organic? How many hands have touched it? I would challenge anyone to buy a bunch of cilantro or basil from the store, put it in water, and shake it up a bit. You’ll be amazed at all of the dirt that comes out of it—not to mention the microbes and chemicals from pesticides that you can’t see. That’s all stuff that you put in your body.”

It’s a sad truth about our modern agriculture. And while pesticide residue or dirt might not kill the consumer overnight, it’s certainly not helping. The industrial practices that lead to this kind of cultivation can lead to soil degradation at mass scales.

With Fogponics, there’s no need for cultivating soil, and there’s no need to continue to buy produce from companies who aren’t committed to a sustainable future.

Funding the products that change how we live—that just might stand a chance.

And all that R&D that goes into developing and improving their technology goes to good use, whether it makes it into their final products or not.

“Every Wednesday, we donate all the produce from our R&D lab to two incredible local organizations, the CRC Rideau-Rockcliffe CRC and Ottawa Good Food Box, both of which are fighting to make a difference in our community. At Plantaform, we’ve committed to donating hundreds of pounds of freshly harvested produce every year,” explains Alberto.

Finding inspiration in new technology—and new solutions

Planting greens in your own home is a small-scale solution. But Plantaform’s ambitions are at scale.

Aguilar points to a company he admires, Bowery and Aerofarms, as inspiration. “They’re incredible,” says Aguilar. “They’re in every corner of the world.”

As one of the largest vertical farming companies in the world, Bowery has a global presence that Plantaform would love to emulate. Aerofarms has partnered with companies like Emirates Airlines, growing produce for the airline’s flights straight from Aerofarms produce. Aguilar mentions that the goal isn’t to feed a thousand. The idea is to give people such at-home growing capabilities that Plantaform’s indoor gardens eventually feed millions of people.

Changing the world one plant at a time: People are beginning to notice

If you’ve seen Plantaform before, it may have been from Startup Canada. This national, grassroots organization aims to empower entrepreneurs across the country—providing resources like mentorship and networking opportunities to companies with great ideas who might not have the resources to grow themselves.

Plantaform pitched during the Startup Global program in 2022, performing extremely well—and even making it to the finale. Aguilar reports that Startup Canada has been following the Plantaform journey ever since. In fact, Startup Canada reached out to Plantaform and asked them to be part of a panel to help support other entrepreneurs in the agritech field as part of a  Sustainability Industry Advisor Circle.

Plantaform has already received considerable attention for its product. It was featured as “Startup of the Year” by Faces Magazine, won the 2023 “Next Big Thing” award at the Best of Ottawa Business Awards, and “Tech Smallbiz of the Year” by Zenbooks. It earned the aforementioned semi-finalist status at Startup Global and additionally won “Ottawa’s Green Initiative of the Year” from Faces Magazine.

Plantaform’s journey from a university thesis to a global player in indoor gardening shows just how much is changing around the world. Innovation, adaptability, and understanding international markets are going to be more important than ever as the 21st century unfolds. With a clear vision for the future and a commitment to sustainability, Plantaform is poised to make a lasting impact on how we grow and consume our food.

The post A Canadian startup’s quest for sustainable agriculture and global market success appeared first on Trade Ready.

Without adequate CO2 reduction and removal techniques, Earth is bound to become dangerous and uninhabitable in certain areas. Even now, impacts like extreme weather, widespread extinction, and social, economic, and political breakdown are already starting to happen and are expected to worsen.

For these reasons, we need trailblazing companies and professionals to step in and affect change on a global scale.

Startup Carbon Lock Tech, helmed by Kevin Danner, has answered the call and is working to develop the technologies to help slow down and reverse the negative outcomes associated with CO2 accumulation.

In this company profile, we will take a deep dive into Carbon Lock Tech’s journey from start-up to the present. We’ll cover the founding story, the mission, values, and mechanisms that drive Carbon Lock, their international expansion, the science behind carbon dioxide removal, and much more.

The Opportunity Hidden in Organic Waste

At its core, Carbon Lock Tech is a cleantech startup that uses an innovative, nature-based solution for removing carbon from the atmosphere and locking it away. But that’s just the tip of the iceberg.

Organic waste, fossil fuel combustion, deforestation, and livestock farming result in an excess of carbon in the atmosphere.

Why is this important? Think about the carbon cycle. Plants absorb carbon dioxide and expel oxygen. The animals then take in that oxygen and release carbon dioxide. This cycle has been self-balancing for hundreds of thousands or years, but that’s no longer the case as greater and greater amounts of carbon dioxide are being added to the atmosphere each year.

Fortunately, a good portion of that carbon is absorbed through photosynthesis and is stored in plants’ leaves, branches, seeds, fruits, and roots. That same carbon then circulates through our economy in the form of products and consumables like food, textiles, clothing, and other organic materials.

But when we are done using these materials, much of it ends up decaying in a landfill as waste. As it decomposes, methane (which is 25x more potent than carbon), is released into the atmosphere. Methane may also be released when plants die.

Using a patented pyrolytic reactor system, Carbon Lock Tech intercepts this waste carbon and transforms it into biocarbon, which reduces methane formation. This biocarbon can then be used as a soil amendment, incorporated into cement-based materials, or used for reclamation projects. In these applications, the biocarbon works to lock away carbon from the atmosphere and reduce downstream emissions.

Carbon Lock leverages a method that the Canadian government recognizes as a viable solution in “Capturing the Opportunity: A Carbon Management Strategy for Canada.” Per the strategy, proper carbon management involves “CDR (carbon dioxide reduction) approaches that remove CO2 from the atmosphere and store it durably in natural carbon reservoirs, such as rock formations, soils, plants, oceans, or long-lived products.”

The goal is to help the world reach net zero by 2050 and avert the worst of the climate crisis.

The journey from initial concept to international venture

Carbon Lock Tech founder and CEO Kevin Danner first became engaged with the issue of climate change in the late 1980s while taking a course on international efforts to address the ozone layer issue. He followed up with additional studies into evidence-based decision making before pursuing a career in government. Kevin worked as a risk manager and policy analyst for the Department of Natural Resources Canada and the Department of Fisheries and Oceans Canada and then as a policy advisor for the Manitoba government on the Made-in-Manitoba Climate and Green Plan.

Throughout his tenure, he has focused on climate change and carbon management. But after becoming frustrated with the slow progress toward achieving net-zero and Paris climate commitments, he needed to make a change. He then left the government sector, co-founded Carbon Lock Tech, and began to develop systems and technologies for converting organic matter into stable biocarbon and sequestering it away for good.

The idea of focusing on biocarbon (sometimes called “biochar”) that eventually grew into Carbon Lock Tech started with the UN Climate Change Conference COP21 and the Paris Agreement. While watching the conference, he heard the French AG minister mention “biochar.” Soon after, he began researching the topic further to find out more about the carbon offsetting made possible simply by putting more carbon in the soil.

Testing Process

Danner then bought some biochar for home use, successfully grew some plants, and was approached by a curious neighbour, whose uncles had designed and built a simple backyard kiln that could make biochar. “I still have it [the machine] at the farm. Do you want it?” the neighbour offered.

Ramping Up

Danner accepted the machine and, with co-founder Terry Gray, began making biochar in his backyard. They eventually brought on investors and hired a few engineers under the ECO Canada program and the NRC Industrial Research Assistance Program. Together the team designed and built a continuous model, secured a patent, and completed a pilot project. Through grant funding, they were able to hire more engineers.

Stepping into international expansion

Today, Carbon Lock Tech is advancing its technology and work with mining companies and concrete companies to explore sustainable applications for “locking” the carbon away. They are also searching for commercial partners, collaborating with international companies, and looking to participate in the carbon dioxide removal credit market. In fact, the company is in talks with a Silicon Valley carbon dioxide removal organization that’s considering signing a CDR credit agreement.

This would be the very first agreement, and the team expects to see more and more of these over time.

This business venture hasn’t gone unnoticed. Carbon Lock Tech won the Startup Canada Pitch event earlier this year, and are set to compete live against nine other finalists for $70,000 this October.

Current challenges and goals for the future

Carbon Lock Tech is an international startup creating technologies and carbon removal services for a global market. So, it’s crucial to get a good handle on navigating global trading systems, complex business landscapes, and diverse cultures. In addition to that, there are other challenges to consider.

Building a cleantech startup isn’t easy by a long shot, and it takes a considerable amount of time and sustained hard work to take a venture from a concept to a profitable company. But the biggest challenges arise when one or more of the following factors is missing:

• Access to smart, patient capital.
• Support from funding programs and stable government policies.
• Market demand from end users.

As for the goals going forward, it’s all about scale and impact.

“From here, we are looking to scale this to the megaton scale. And then, who knows, eventually the gigaton scale, which is where the world has to get if we want to make it to net zero by 2050.”

As you can see, the goal is to make substantial change on a global scale.

A primer on Carbon Dioxide Removal (CDR) credits and how they work

Carbon dioxide removal (CDR) credits are service exports where a company sells the service of carbon removal to firms in other companies or governments around the world. These buyers seek to purchase such credits in order to offset their own emissions or meet climate targets.

CDR credits are similar to traditional carbon credits, which have been in existence for about 20 years, since the Kyoto Protocol, which worked to encourage innovation and efficiency by facilitating emissions trade within a cap-and-trade system or a government-regulated compliance market. The difference is the CDR credits can only be generated and sold by systems or technologies that remove carbon from the atmosphere, as opposed to emissions reductions or avoidance practices. It’s a distinction that makes a major difference, because there is no way to reducing the total amount of carbon already in the atmosphere other than carbo dioxide removal.

Today, the CDR credit market is a voluntary market where businesses that want to reach net zero can purchase credits from carbon removal businesses. Unlike cap-and-trade and government-regulated markets, the voluntary market is only a few years old – major tech players like Google, Microsoft, Shopify and Facebook participate strongly in this market.

Companies typically pre-buy CDR credits as either an offtake agreement or advanced market commitment. They sometimes pay for the credits upfront so that the CDR companies can accelerate their technologies – they then enjoy priority access to the first credits produced.

Carbon removal certification and government intervention

Puro.earth is a Finland-based registry that certifies carbon removal suppliers according to their “Puro Standard.” NASDAQ just bought the company, so stock markets are getting involved.

These international markets exist without relying on national policies or structures. So, any Canadian company could generate CO2 removal credits and sell them to any other company, or country, regardless of their location. Therefore, this is a market mechanism as well as a service export.

Kevin Danner weighs in on standardization in this area, saying that, “if governments are able to create the policy framework around this to bring more standardization, more rigor, I believe that will strengthen the markets, and that’s already happening in Europe and to some extent in the U.S.”

Though policy isn’t necessary for scaling up in this industry, standardized government frameworks could be beneficial. It could enable the integration of funding across agriculture and economic development, as well as Environment and Climate Change Canada.

Building a policy infrastructure in the carbon dioxide removal space could position Canada as a trusted provider of sequestered carbon and bring substantial revenue to the country from the production and sale of carbon credits.

The international sale of carbon credits

Selling carbon credits internationally can be complex, given the variety of markets, regulations, and types of credit systems. Certain regions have cap-and-trade mechanisms. Others have internal compliance markets. Still others are developing credit registries that act as clearinghouses – once credits are registered, they can be purchased and retired, preventing resale and ensuring no double-counting. These latter are important, because while small-scale transactions can be easy and informal, large-scale carbon transactions require formal registries and life cycle analyses. These analyses evaluate:

• Feedstock origin
• Transportation emissions
• Sequestration timeframes
• Technology verifications

A proper registry ensures that the credits reflect the actual amount of carbon sequestered.

Reporting and verification: Registries require rigorous reporting and verification to maintain the quality of biocarbon production, including sample validation and machinery checks.

Carbon accounting: Carbon accounting firms help companies measure their emissions and balance them with credits to achieve sustainability goals.

Government requirements: Governments may soon mandate companies to register and report carbon usage. Proactive companies are already building a pipeline of credits to comply with anticipated regulations.

Planning for different domestic and export markets

Carbon Lock Tech sees the potential markets and product adaptations that could be on the horizon.

Like dollars, carbon credits are meant to be “fungible.” This makes for more straightforward transactions. Still, there will be projects that command a higher premium.

One example would be companies that work with a First Nation community to convert their waste into carbon and use it for water filtration. In this case, green jobs are created, and sustainable development goals are met. These projects will attract companies interested in both carbon credits and the ESG aspect.

Here’s another example – setting up a carbon removal facility in the Amazon could help the local community preserve their forest by helping them develop an alternative source of incomes – carbon removal credits. Forward-looking companies would be willing to pay a premium for such impacts that extend beyond carbon offsetting.

The challenge for Carbon Lock Tech will be in creating an effective export plan from assessing their target market to positioning themselves for a competitive advantage, and crucially, identifying relevant legal and regulatory issues.

Carbon Lock Tech is at the forefront of a global solution for climate change

To date, much of the focus on addressing climate change has been in the area of emissions reductions. This is critically important and needs to be a priority at every level of government. At the same time, the concept of carbon removal allows us to address  the climate issue head on, turning turn what would have been a risk into an opportunity. And the Carbon Lock Tech team is working to bring this opportunity to reality.

“In Canada we have a major advantage,” says Danner. “We have the knowledge, the technologies, the people, the resources, and the land. We can play a major role at the forefront of carbon dioxide removal, developing an entirely new industry capable of removing and sequestering gigatons of carbon, right here in Canada, and generating international revenues from it – if we do this right.”

The post From startup to international expansion: Carbon Lock Tech takes aim at a climate-friendly future appeared first on Trade Ready.

Unsurprisingly, this year’s top stories included several focused on technology such as digital trade and AI. There was also a lot of interest in sustainable practices, tips for women leaders and the value that immigrant-led businesses can bring in Canada and beyond.

Enjoy this year’s top international trade articles.

1. 10 global trade trends we’ll be watching in 2023

10 global trade trends we’ll be watching in 2023

2. Why digital trade should be a cornerstone of Canada’s Indo-Pacific Strategy

Why digital trade should be a cornerstone of Canada’s Indo-Pacific Strategy

3. 7 emerging cleantech suppliers that can help you create a more sustainable supply chain

7 emerging cleantech suppliers that can help you create a more sustainable supply chain

4. Unpacking the Digital Transformation of Trade

Unpacking the Digital Transformation of Trade

5. How to Take Your Business Global – 5 Important Steps for Female Leaders

How to Take Your Business Global – 5 Important Steps for Female Leaders

6. Investing in immigrant founders to unlock the next generation of Canadian innovation

Investing in immigrant founders to unlock the next generation of Canadian innovation

7. 8 common global procurement mistakes made by small and medium sized businesses (SMEs)

8 common global procurement mistakes made by small and medium sized businesses (SMEs)

8.Top 10 things we learned at the WPO 2023 Entrepreneurial Excellence Forum

Top 10 things we learned at the WPO 2023 Entrepreneurial Excellence Forum

9. 5 ways AI is transforming international trade

5 ways AI is transforming international trade

10. Top 10 fastest growing international trade jobs in 2023

Top 10 fastest growing international trade jobs in 2023

The post Best of 2023: Top 10 most-read international trade articles from the past year appeared first on Trade Ready.

As every year comes to a close we like to take a moment to look back at the key trade issues people were talking about – and therefore, reading about. It was another year of changes and uncertainty, which is likely why two of our most-read articles were about risk.

But it was also a year for plodding ahead and looking to a brighter future. People were reading about business planning, investment and negotiations in a changed global business environment.

What was also heartening to see was the interest in articles about investing in your personal and career growth. Two of our most-read articles were about career success and upskilling.

So without further preamble – here are the top 10 most-read articles of 2022. Read on, enjoy, and let us know what you think most people will be reading about in the year ahead in the comments.

1. 10 Global trade trends we’ll be watching in 2022

10 Global trade trends we’ll be watching in 2022

2. The most common forms of foreign direct investment (FDI), including ownership-based investments and investments based on strategic alliances

The most common forms of foreign direct investment (FDI), including ownership-based investments and investments based on strategic alliances

3. A Guide to Preparing an International Business Plan

A Guide to Preparing an International Business Plan

4. Identify and mitigate the 4 types of financial risk: commercial risk, foreign currency risk, country risk, and bank risk

Identify and mitigate the 4 types of financial risk: commercial risk, foreign currency risk, country risk, and bank risk

5. The 11 political risks that could sink your imports and exports

The 11 political risks that could sink your imports and exports

6. What should be on every bill of lading

What should be on every bill of lading

7. 5 Canadian Trade Commissioners talk about their career success

5 Canadian Trade Commissioners talk about their career success

8. Pros and cons of using subcontracting as a market entry strategy

Pros and cons of using subcontracting as a market entry strategy

9. Top 7 reasons to become a CITP according to CITPs

Top 7 reasons to become a CITP according to CITPs

10. 10 tips for negotiations in a virtual meeting environment

10 tips for negotiations in a virtual meeting environment

The post Best of 2022: Top 10 most-read international trade articles from the past year appeared first on Trade Ready.

Whether you sell goods or services or both, there may be tremendous opportunities for you to grow your business outside of the domestic border. In fact, going global can make you more efficient, make you more competitive and make you stronger.

However, if exporting were easy, every company would do it, so it’s crucial to understand what’s involved.

During this series, we will provide an outline of some of the risks of going and growing globally, as well as a high level “A to Z” of exporting – everything from assessing your company’s export readiness to planning and researching market entry, finance and marketing.

FITT experts:

Daniel Lewis CITP, Founder – Daniel’s Chai Bar, Author, International Speaker

Marvin Hough CITP, President – MIRA Limited

Lora Rigutto Vigliatore CITP, Loyalty and Engagement Manager – FITT, International Business Instructor

Assessing your company’s export readiness

Feasibility of International Trade

When we talk about feasibility of international trade we’re principally referring to three broad components:

• Export readiness – does your venture have the resources required to venture into foreign markets?
• Choosing your target market – where should you start?
• Suitability of your products and services – is your product or service suitable for your target market, or do you need to modify it in some way?

The first step in assessing your export readiness is to do a SWOT analysis – you must assess your strengths and weaknesses and figure out your gaps.

The second step is asking yourself those tough questions – why are you exporting, who is going to get the work done, and are you really ready?

Daniel, can you tell us about your company’s journey to importing and exporting, and how you determined when you were ready to go global?

The thing I like to say is that we started exporting accidentally, and then we learned how to do it the right way, so a lot of what I learned was by mistake.

When we started our company, our focus was on how we could positively impact the community that we’re in, which was working. But then it got to a point where the people that we were impacting in our local market well, they have family that visits from international locations, and when they would experience our brand and our products we started to hear the questions like “do you ship to the U.S., to Australia, Japan?”

When you keep getting those questions then you start to ask, is there business potential elsewhere? That’s what started to happen for us. We started to sense a demand, especially from the U.S., for our teas and we had to start thinking about how to get it there. So we had to figure out packaging and how to ship it – what were the documents that we needed.

We made a lot of mistakes in those early stages, until we started to learn from those experiences and get our feet on solid footing.

We also started to learn that in the U.S., which became one of our big markets, it’s very different than Canada. People are different, the buying decisions and motivations are different, and we couldn’t just copy paste what was working with our Canadian market. Eventually we tapped into resources like FITT to learn and refine that process.

What were some of those gaps that you had to address before you could make that leap to a new market?

 One of the biggest gaps for us was, from our company’s inception, we branded ourselves as a company who uses tea as a tool to impact people’s lives in a positive way, so in our marketing we put our mission before our product. And that resonated very well here in Canada.

But when we went to an international market, like the US, they didn’t really know us, and that connection was not the same. We had to find a strategic way of turning that around and creating a product focus. It was the complete opposite of how we were branding and marketing ourselves originally.

Marvin, how do you assess or help your clients evaluate their own export readiness?

You know in Canada, we have about a million SMEs and only about 4% are actually exporting. And out of those about three quarters sell into the United States. Going global for an entrepreneur or startup SME is really challenging, but it’s also really There are three pieces of good news I want to share:

1. There are more groups available now to help entrepreneurs than ever before. FITT and Startup Canada are both excellent examples.
2. The digital revolution has created an easier path into markets.
3. Startups can be very flexible and agile and being able to pivot and change the way you’re operating is really, really important.

I put my clients through a readiness checklist that can be quite extensive. I’ll mention some of the points that I think are really important that companies look at. Number one is management’s commitment to the export field.

I’ve seen companies say they’re ready and they want to go at it, but two months later, they come back and another project has taken priority. To tackle international markets, companies have to be sure they’re committed from the very top.

The second part is foreign market research. You can do a lot of this online now, which makes this much more accessible.

Thirdly, having the financing setup and support is important, whether you have to adapt your products or just completing an order. So many companies I’ve seen are stretched too thin, and they’ve got an export order but they lack that risk management.

As you enter a market you’ll often be relying on an agent, partner, or distributor. It’s so important to do the full analysis and fully vet your partners.

There are many other items on the export readiness checklist – from getting the right freight forwarder to understanding the promotional material requirements in your target market.

A great resource I’ll point out is on the Trade Commissioner website  – there’s an export readiness quiz that you can complete to assess all these readiness factors.

And if you don’t have an answer to some of those questions, or the answer is no, then consult with consultants, and CITPs, and seek training resources like the workshops and courses provided by FITT. The Situational Analysis workshop and Feasibility of International Trade course in particular can help on the preparedness side.

EDC, is also a good resource for companies that are assessing if they’re ready to export.

But as mentioned, sometimes an export order comes out of the blue and all of a sudden there’s an order coming in from a new market. That can be an exciting and overwhelming situation, but it’s also a great learning experience because startups have the agility to learn and adapt quickly. Daniel and his company are a great example of that.

You’re never too small to start exporting, you just have to know where your gaps and tap into the right resources that can help you.

How do you determine which markets to start exporting to?

I caution companies to get focused on their target market and don’t take on too many markets at the same time. That can often be a recipe for disaster.

As mentioned, many companies start exporting to fulfill orders that have come to them through e-commerce or a random request in their inbox. But there can be a tremendously steep learning curve.

The vendor may not be set up to ship internationally and may not understand customs procedures or local requirements for labeling and packaging.

So, if we take that strategic approach to market expansion, are there certain types of markets that are good testing grounds for first time exporters?

Many Canadian businesses start their international expansion in the United States where there’s cultural affinity and we conduct business in similar ways.

One resource that comes to mind is called the New Exporters to Border States (NEBS) program run by the Ontario government which helps businesses who are exploring the U.S. market. If a company is going through the readiness stage, they can go to the U.S. for a two day program and get all of the details about crossing the border from currency exchange to tax and legal issues.

Through this program the businesses can gain that knowledge firsthand, they can for example, go to Buffalo for two days and meet with all of the officials who can help facilitate the logistics in that market.

There’s a plethora of information online through government websites here in Canada, and I find industry associations have really good information on foreign markets for companies looking at getting into a sector.

But then there’s always those unexpected orders that come and companies have to evaluate them. Having somebody focused on the research is very important, whether that’s an internal employee or engaging a consultant to do that.

Hiring a research consultant can be extremely important, in my experience, for a smaller company.

Daniel, you mentioned, you started your company’s exporting journey in the United States because of unplanned opportunities to fulfill orders from word of mouth.

Was exploring that market also a strategic choice or was it just because of that unexpected demand coming in?

I was not strategic at all, I was just reacting to those opportunities. And that’s a place you don’t want to find yourself in when it comes to exporting.

So often in business, you have this checklist and this plan, and then boom! Something else just side tracks it. That’s what happened to me in many cases, and I was not necessarily ready.

For example, I’m also an author and with my book sales, I said “I’m open to the world!”

I learned you have to be careful of just saying that you’re open to selling internationally, because I was selling my book for $9 and I got an order from Vienna. Long story short, by the time I shipped that and got it to the customer it cost me $85. It was either that, or they had to wait like five months to get the book.

Logistically for you, you need to know if you are entering the best market from a sales and marketing standpoint. Explore where there are trade agreements between your home country and that market or that country that you’re trading into.

We didn’t know about the HS codes that we needed to declare and put on our packaging, and we got hit so hard with this influx of information that we weren’t prepared for.

If I was to do it again, I would have found people who have experience – and I would have started with FITT courses and the Trade Accelerator Program.

These kinds of resources have helped to make me aware of the things that I don’t know about exporting and importing.  And that’s what I didn’t do before, so if I was to do it over again, making that commitment from a management standpoint to do the research, learn about the shipping logistics.

Start by getting training, attending workshops virtually, doing your online research, reading books – it will all make you feel so much more ready and give you a psychological confidence to start exporting.

Before I did that, I was getting to a place where I didn’t want orders to come in anymore, because I felt like I was just going to mess it up. But once you feel ready, you get more aggressive in doing business and getting sales and facilitating those orders. Then your customer service kicks in and that’s when business starts to thrive.

Something that sometimes happens when companies enter big markets – it’s that idea that a big country like the U.S. or Mexico is one market. It’s a fallacy, I’ve seen so many companies think that they’re into the market and really they’ve only got a little bit of a foothold in a particular city. We have to realize that there are difference markets within these big countries from region to region and different cities. That has to be explored as part of your analysis.

I’ve been teaching here at the Telfer School of Management and in the MBA programs in many universities. Within these types of programs the students often undertake international research projects for companies as a learning experience. These can be a sort of a free service, and a great resource that I would highly recommend to assist with your market research and analysis.

Stay tuned for the next article in the Ready. Set. Export. series – “Adapting your products and services”

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