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.

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Brand loyalty is high since IKEA delivers what its customers expect. Despite IKEA’s track record, its team occasionally makes mistakes. In the late 1990s, a failed foray into inflatable furnishing exposed how sometimes an innovative idea isn’t enough.

An exciting idea and promising beginning

Swedish teen entrepreneur Ingvar Kamprad founded IKEA in the 1940s, originally as a small mail-order business selling pens and wallets. By 1948, he started selling furniture, but packing and shipping furniture mail-order was a major pain point. This led to IKEA becoming an innovator and disruptor. It developed quality flat-pack furnishing like shelves and tables. Fast forward to the mid-1990s, Kamprad and his team found it challenging to create a durable, comfortable upholstered sofa that could be shipped flat-pack.

Meanwhile, Swedish designer Jan Dranger had an interest in inflatable furniture dating back to the 1970s when he and his design partner created a range of inflatable easy chairs and mattresses that were briefly sold by the Swedish Cooperative Union (KF). Unfortunately, these furnishings deflated quickly, but Dranger persisted in developing inflatables using better materials and new techniques.

In the early 1990s, he approached IKEA and met privately with Kamprad. He had prototypes for inflatable furniture, including a sofa. The idea seemed promising since this sofa was lightweight, could be shipped flat-pack, and consumers could easily assemble it at home using an ordinary hair dryer. The idea addressed one of Kamprad’s biggest pain points.

Several IKEA managers were invited to an unveiling of these prototypes. When they arrived,  they saw inflatable sofas draped in loose covers. The covers made the sofa more attractive and also helped maintain its shape.

As former IKEA business area manager Tomas Paulsson told the IKEA Museum, “No one was allowed to look underneath the furniture, but we were allowed to sit on it. It felt a bit like an inflatable mattress or water bed.”

Dranger didn’t want to share technical details before signing a contract with IKEA. In theory, the inflatable sofa required 85% less material than a standard sofa, and the plastic material used was 100% recyclable. Especially notable for the team at IKEA, the inflatable sofa reduced transport volume by 90% compared to their existing products. IKEA formed a spin-off company, SoftAir, in anticipation of the line’s success.

In 1998, the Toronto Star reported that a consumer could bicycle home with an unassembled sofa in their backpack, then walk upstairs to their apartment and quickly assemble it.

Laurence Martocq, an IKEA spokesperson at that time, said: “We expect the line to appeal to university students, young people living in apartments and condos and first-time home buyers… We’re also targeting people who look to us for innovations and new trends.”

IKEA launched the A.I.R line in 1998, including an inflatable sofa, easy chair, and an ottoman. The furnishings came with a ten-year warranty, washable slipcovers, and a patch kit. The design featured a series of small air pockets or compartments, so damage to one pouch wouldn’t cause the whole thing to quickly deflate.

How the A.I.R. line….deflated

First, according to Paulsson, it cost more to manufacture the A.I.R. products than originally anticipated. And when they launched the line in IKEA stores, shoppers reacted in unexpected ways.

One selling point was that it was very lightweight. A promotional illustration portrayed someone lifting the sofa with one hand to vacuum underneath. In the stores, this selling point also proved to be a downside. The sofas would easily slide around if someone bumped against them.

Shoppers reportedly picked them up and moved them or even tossed them around the showrooms. According to the IKEA museum, an IKEA team member said they looked like “a group of swollen hippos” compared to the other sleek designs in the stores.

IKEA project manager Lena Brandt Persson said, “Customers found it so much fun that even adults would jump up and down on the sofas.”

It didn’t get better once the inflatables made it to the shopper’s home. The instructions didn’t clearly warn the buyer to use the cold setting on their hair dryer, so some inflated their new sofa with hot air. Not only did this pose a risk of melting the plastic, but it also resulted in the sofas deflating as the inflated hot air cooled down.

It turned out many people didn’t love inflatable furnishings as much as they hoped. When sitting on the chair or sofa, a sudden movement could cause an embarrassing squeaking sound.

Too many of the A.I.R. products were returned. In September 1999, IKEA announced it was ending its involvement in the SoftAir spin-off company but continued to sell the designs. In 2013, they stopped selling the A.I.R line.

Key takeaways and lessons learned

The story of IKEA’s inflatable furniture launch flop can serve as a cautionary tale for other inventors, designers, and entrepreneurs. Sometimes, enthusiasm for an exciting concept can fall short if you don’t back it up with testing and market research.

Deviation from core principles?

Consumers trust IKEA in part because its design honors five core principles: form, function, quality, sustainability, and low prices. The A.I.R. line was an interesting concept. In reality it didn’t hold true to these core principle according to Ikea’s global design head, Marcus Engman, who admits he was partially responsible for it.

He told Sidney News, “This is one of the biggest mistakes in Ikea’s history. An amazing fiasco.”

They missed many of the product’s flaws. So many of the problems would have been obvious if people tested the prototypes for longer, facing real-world challenges.

For example, the team saw the very light weight as a benefit, but a few days of watching the sofa slide around an office or living room may have proved otherwise. They would have also noticed how the furnishings would gradually deflate despite the innovative design.

Engman also commented that they were excited about a product, but didn’t really know how the general public would respond. The designs may not have fit many people’s homes.

“If you want to do new engineering maybe put it into something people can relate to from the beginning instead of something that is such a new form because it’s hard to relate to,” he said.

The missing link: Where product testing failed

The collapse of IKEA’s A.I.R. inflatable furniture line demonstrates the importance of product and testing, even if you have an innovative idea.

Despite promising sustainability benefits—85% less material and 90% lighter shipping weight versus traditional sofas—the series ignored critical market realities. According to the IKEA Museum, prototypes were tested in controlled labs but never subjected to real-world user scenarios.

For example:

• Engineers used ideal conditions (e.g., precise inflation methods) but overlooked how customers might misuse the product. Many users inflated their products using the hot air setting from hair dryers, causing warping and accelerated wear.
• IKEA assumed users would value eco-friendliness over convenience. They failed to anticipate that daily re-inflation and valve leaks would frustrate customers. The “pffft” sounds when sitting became a notorious pain point.
• The 1990s saw IKEA expanding into markets like the U.S. and Asia, yet no adjustments were made for regional preferences.

How to do thorough product testing

This case study illustrates why product testing in real-world settings is so important for anyone interested in international trade. This includes cross-cultural validation and iterative testing.

Products must be tested in the actual environments of target markets with diverse user groups. IKEA’s oversight of these steps turned even an industry pioneer into a cautionary tale.

Rigorous processes would have flagged:

1. Frequency – How often users would need to re-inflate (daily vs. weekly).
2. Intensity – How real-world stressors like pets, children, or humidity affect material integrity.
3. Technical – How well did the valve perform in varied home environments

[This content is an excerpt reproduced from the FITTskills Products & Services for a Global Market course]

Prototype and test marketing offer opportunities to test the product and its performance, and to put the product into a limited, but real-life field situation to collect data for product and marketing plan modifications or improvements. Refinements to initial prototypes, concepts and ideas resulting from customer feedback can also allow engineers, procurement managers and production  designers to better quantify the projected unit costs for the product when it finally reaches production.  

Some techniques that can be used to evaluate consumer response to new or adapted products are: 

• The use of select groups of product users to test prototypes (often referred to as beta testing)  
• Tasting panels (for food products) 
• Product demonstrations at select venues  
• Follow-up with consumers after purchase 

As part of product development and adaptation, product testing is carried out throughout the product life cycle to ensure compliance with specifications and regulations. There is a wide range of product tests.  

Learn more about how and why to test products thoroughly BEFORE bringing them to market.

Get Test Marketing and the 15 Point Market/Concept Assessment Questions templates, the full Product Testing Process and much more – explore Products & Services for a Global Market

FITTskills content adapted from: FITTskills Products and Services for a Global Market. Forum for International Trade Training (FITT), © 2023.

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Many small- and medium-sized companies will not have a substantial budget for conducting international trade research. These companies will often rely on secondary trade research as much as possible.

Most SMEs will perform the majority, if not all, of their research in house by using published sources and the Internet.

This type of research is called desk research and it involves obtaining secondary data (existing data that have already been collected for some purpose).

Whatever the size of the company, researchers should always start planning their research design by investigating whether any information can be sourced from within the company; for example, by finding information stored in company records, by talking to customers or distributors or by asking employees who have worked in a potential target market for information. However, most secondary data sources are external.

There’s a world of secondary data at your fingertips

Internal records and information from internal experts:

Sales and accounting records – can be used to determine baseline comparisons of trends, costs and target customers

Distributors and customers – can be used to determine buyer expectations and purchase patterns

Employees with experience in the target market – can be used to determine opinions about general conditions, cultural impact and business methods

External sources and experts:

Government departments and agencies – can be used to determine market assessment publications, trade statistics, trade regulations and export and import controls

Representatives of the target country – can be used to determine trade and market conditions specific to the country and cultural considerations

Trade or industry associations – can be used to determine practices, trends and conditions related to the organization’s expertise

Non-governmental associations (NGOs), universities and trade-related businesses – can be used to determine comparative market, population and demographic statistics, competitor information and credit information

Publications, directories and yearbooks – can be used to determine market statistics, general information about trends, interests, demands and regulations, sources of information and advice

Various websites and data tools – can be used to provide fast access to publications, directories, statistics and market research reports

When should you dive into secondary data?

Researchers should always check whether secondary research data are available internally before accessing external sources.

There are several reasons why a research project should always investigate secondary data sources first:

• It is cheaper to collect secondary data than it is to collect primary data.
• It is faster to collect secondary data than it is to collect primary data.
• Secondary data might be available that answer the market research objectives without the need for primary research.
• Secondary data collection can help improve a researcher’s understanding of a marketing problem and therefore lead to better design for the primary research.

Secondary data should also be used in the following circumstances:

• When companies are considering entering unfamiliar markets, secondary data enable companies to gain an appreciation of the nature of the market and the competitive business environment without spending too much money
• When researchers need facts that would be unrealistic or unnecessary to gather from a primary research source, such as the annual consumption of coffee in Poland or the population of Trinidad
• When researchers need to understand or monitor trends in financial issues, business conditions or demographic factors
• When primary research is too difficult or too expensive to access, secondary data might be all that is feasible

This article is adapted from content covered in the Feasibility of International Trade FITTskills course.

Learn everything you need to know about assessing your organization’s readiness to make the leap into new global markets including planning and executing effective market research.

The post You can conduct valuable secondary trade research from your desk – here’s how appeared first on Trade Ready.

Visualize data in numerical format

Numerical data should be presented as charts, tables or graphs wherever possible. Researchers can use a wide range of tools to present material in an attractive and clear format. Spreadsheets can organize numerical information and generate graphs and charts. Graphics packages can also be used to portray both numerical and non-numerical information.

Tables are one of the easiest methods of presenting quantitative data, but they must be well organized. Tables must have clearly labelled rows and columns and be organized consistently.

Graphs and charts present numerical information in a visual form. Each part of the graph or chart should be labelled clearly. There are various styles of charts to choose from. For instance, pie charts are used when the components of the data being shown must add up to 100 percent. They are most often used to show market-size data, classification data or market shares.

1. Pie Charts

2. Spider charts

This type of visual representation is sometimes used to present comparative numerical information in a way that quickly and easily highlights differences among categories.

3. Bar charts

Bar charts or histograms are a common tool for illustrating data and are most commonly used with rated data. They can be used to show customer satisfaction levels, market size for different companies and trends within a group.

Present data in qualitative format

There are many effective ways to visualize data if it’s qualitative as well. Information can be presented in the form of a flow chart that communicates processes or decisions, or it can be explained in relation to marketing frameworks. Quotes can add emphasis to a point, because they indicate the thoughts of the consumer. However, quotes should never directly identify an individual.

Looking to determine if your new trade opportunities are viable? Check out the FITTskills Feasibility of International Trade online course!

4. Flow diagrams

This is a very simple and effective way of presenting organizational data. Flow charts should be labelled clearly, and the flow of a decision or process through the various stages should be clear and easy to understand. The reader should be able to start at one point and follow a path through to the conclusion.

The post 4 ways to visualize data more effectively for reports and presentations 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”

The post Ready. Set. Export! – Assessing your company’s export readiness appeared first on Trade Ready.

Sustainability is one core component of an effective supply chain. Fortunately, modern tools, devices, and software, such as the Internet of Things (IoT) and blockchain, are streamlining how we balance these systems. With highly transparent and secure networks, we stand to improve the overall sustainability of supply chains for cleaner and more lucrative results.

The IoT and blockchain support sustainable supply chains in a variety of ways. By exploring these sustainable functions and how you might integrate them into your business processes, you can build the supply chain stability you’re looking for in an uncertain economy.

IoT provides data transparency that supports decision-making

The Internet of Things is the term given to devices that collect data and then communicate that data over the internet. IoT devices range from industrial sensors to wearable devices, all with various implications when it comes to the functionality of a supply chain. These implications are far-reaching across transportation and supply chains and would not be possible without the world of big data that the IoT taps into and makes useful.

IoT is instrumental, for instance, in developing eco-friendly, efficient fulfillment center strategies. That’s because these processes rely on the kind of big data transparency that only the IoT can offer on a scale that reverberates through the entire supply chain. The IoT enables accurate tracking methods, consistent protocols, and data analysis that all stand to change supply chain decision-making for the better.

Many companies have already experienced the sustainable benefits that come through industrial IoT. Shipping line giant Maersk, for example, built an infrastructure of sensors and mobile and satellite communication technology with the help of Ericsson to monitor its fleet of 300,000 refrigerated produce containers. The increase in transparency of container conditions led to a decrease in necessary inspections. This, Maersk says, means reduced resource use and even CO2 emissions.

As we have seen, the IoT supports supply chain flexibility in the following ways:

• By improving supply chain transparency
• By improving system efficiency
• By reducing resource consumption

As you explore the use of connected devices in your supply chain, consider these benefits. But also understand that with more connected devices, you present your company with more digital security risks.

Want to learn more about managing your company’s supply chain? Take the FITTskills Global Value Chain course here.

Blockchain protects data from interference

Connectivity offers us much in terms of actionable insight and effective communication. And yet, digital threats are a huge concern for supply chain companies. In one infamous example, Target became the subject of a data breach through its vendor and had to inform 110 million customers of their potentially stolen credit card data.

It is precisely attacks like these that make it necessary for supply chain companies to protect themselves against all the threats of the digital world. Malware opens up the gates to your data. From there, you stand to suffer incalculable losses from the damage to your reputation alone. Blockchain systems, however, are changing the playing field with enhanced security measures for protecting data.

Blockchains are decentralized data systems designed for cryptocurrencies like Bitcoin. They store data in nodes linked by cryptographic hashes. Now, blockchains are being integrated by companies like FedEx to improve the traceability of their packages because blockchain can store a (mostly) tamper-proof record of inventory locations and conditions.

With greater accuracy in a record, any data breach can be caught and prevented more efficiently. Simultaneously, these improvements offer much greater sustainability potential through their ability to pinpoint spoiled products or remove recalls with greater precision. Supply chain companies that can track inventory can more effectively reduce waste.

In this sense, blockchain and the IoT fulfill similar functions and offer similar benefits across a supply chain. In fact, utilizing these technologies in tandem can be a great way to maximize supply chain potential.

IoT and Blockchain streamline security and sustainability

The IoT offers unprecedented insight into business functions and supply chain conditions. But traditional networks for hosting this data present all kinds of digital threats. That’s where blockchain can come in to help improve the security of an IoT network and provide new business potential.

Blockchain is unique in its use of servers in various locations to host, protect, and backup data. To infiltrate such a system typically requires absurd amounts of computing power. By leveraging the power of the IoT to assemble supply chain insights, then protecting those insights on a blockchain, you can build greater accountability and security for your supply chain. From here, sustainability becomes easy.

That’s because sustainability means longevity without damage. Getting there requires insight only accurate data records can provide. Apply the IoT and blockchain as you assemble the information architecture needed to streamline a supply chain, and watch cost and resource-saving opportunities open up across your ventures.

The post How the IoT and blockchain are supporting sustainable supply chains appeared first on Trade Ready.

“We are committed to helping farmers with strategic on-farm investments that improve their bottom line and generate sustainable economic growth. These cost-shared investments will not only build a stronger, more innovative agriculture sector in Ontario but support the prosperity of rural communities across the province.”
– Honourable Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food

This intake will help agri-food producers make food safe and secure, escalate the health and wellbeing of livestock, and bring top-of-industry products and services to market quickly.

“Our government is investing in these projects to help farmers and other businesses adopt innovative solutions that help increase their productivity in the agri-food sector. When we invest in the agri-food sector, we’re supporting the industry in creating good jobs and economic growth, which strengthens Ontario’s economy.”
– Honourable Lisa Thompson, provincial Minister of Agriculture, Food and Rural Affairs

The Canadian Agricultural Partnership (CAP) began in 2018 and has strengthened and grown the agriculture sector for producers by providing programs and services to help agricultural businesses in Canada grow with variants of funding available through both federal and provincial sources. Moreover, CAP is a five-year initiative committed to an investment of $3 billion in the agri-food and agri-products sectors.

Funding amount

Applicants may receive between 25% to 50% of funding from the CAP Ontario Producer Stream depending on the project focus. Some projects may receive up to $100,000 in grant funding support. Learn more about funding opportunities for CAP Ontario producer applicants.

Applicant eligibility

The CAP Ontario Producers Stream is a highly sought-after program for agriculture producers because the eligibility criteria for this program are quite general. Eligible applicants for the CAP Ontario Producers Stream will fulfill the following criteria:

• File business and/or farm income loss taxes in Ontario;
• Have a valid Farm Business Registration Number (FBRN), unless exempted; and
• Have a Valid Premises Identification (PID) Number.

To see more eligibility criteria, visit the CAP Ontario program page. If your business is eligible for this program, consider visiting this comprehensive list of funding opportunities for agriculture businesses.

Eligible projects

CAP Ontario Producers Stream applicant projects must fit in an identifiable project category. Projects generally fall under at least one of four broad areas:

1. Business planning and improvements;
2. Equipment improvements;
3. Safety and traceability improvements; and
4. Farm improvements.

Please note that applicants can have up to two active projects if they are both submitted through separate applications. This list offers popular projects for the CAP Ontario Producers Stream and their corresponding funding allotments for approved applicants:

• Enhanced Biosecurity for African Swine Fever Preparedness Initiative: 50% of eligible expenses to a maximum of $40,000.
• Please Note: this project has an application deadline of December 3, 2021.
• Traceability System Improvements (Animal Health): 50% to a maximum of $60,000;
• Food Safety and Traceability System Improvements: 50% to a maximum of $60,000;
• Preventing Introduction and Spread of Pests Through Isolation, Sanitation, and Controlling Workflow: 35% to a maximum of $50,000;
• Preventing Access by Wildlife, Pests, and Rodents: 25% to a maximum of $50,000;
• Selling to Export Markets: 35% to a maximum of $50,000;
• Market Products in Canada: 35% to a maximum of $45,000;
• Technology and Equipment to Improve Labour Productivity: 35% up to a maximum of $100,000; and
• Other Businesses – Preventing Introduction and Spread of Pests Through Isolation, Sanitation, and, Controlling Workflow: 35% to a maximum of $50,000

To learn more about individual projects and their eligibility, you can refer to the CAP Ontario producer-guided search.

Program Timelines

CAP Ontario Producers Stream applicants may apply for the program beginning on November 15, 2021. The next intake deadline is December 6, 2021. Applications will take about three months to be approved after the submission date.

Please Note: The application deadline for the Enhanced Biosecurity for African Swine Fever Preparedness Initiative will be December 3, 2021.

The CAP Ontario Producers Stream allows for deposits prior to approval. However, businesses cannot receive or fully pay for the equipment until they have been approved.

Get Started with Government Funding

The Canadian Agricultural Partnership Ontario Producers Stream is a valuable opportunity for Ontario organizations in the sector. However, there are many more funding programs available for agriculture. If you are looking for more than simply agriculture programs, visit this full-scope government funding program directory.

Businesses can also visit this comprehensive government funding resource page which provides a variety of useful resources to get you started. To read more about programs, strategies, and success stories, visit the MentorWorks news channel for everything government funding.

The post Funding news: New intake of Canadian Agricultural Partnership (CAP) Ontario producers stream to help farmers appeared first on Trade Ready.

That’s why, last week, Startup Canada hosted a Twitter Chat with FITT and an all-CITP®|FIBP® (Certified International Trade Professional) panel of business experts. These seasoned professionals gave practical advice on “How to weather-proof your business.” With varied markets, supply chain disruptions and so many other hurdles in the international business landscape right now, they offered up international market entry strategies, risk-mitigation techniques, and personal stories on how to best navigate these waters.

The Twitter Chat featured:

Daniel Lewis, Author, and International Speaker, CITP
Lora Rigutto, Loyalty and Engagement Manager, FITT, CITP
Craig Atkinson, Founder and Director, Lexmerca International Trade, CITP

Question 1: Staying agile and adaptable

The chat started off with this question: “Business is always changing, but some changes, we never see coming. How do you stay agile and adaptable?”

CITP Lora Rigutto had sage advice about upskilling and updating your knowledge in different areas of business.

While CITP Daniel Lewis answered with the following:

“To stay agile and adaptable I suggest diversifying and developing your skills. Become more knowledgeable about your products, industry, or new industries to gain a competitive edge. Consider becoming an educator, expert, or content creator in your field.”

While I was building my tea business over the past 10 years, I also found opportunities to put myself out there as a Public Speaker and Brand Strategist. When the pandemic hit and rattled my supply chain, I switched on my virtual keynotes and brand strategist superpowers. As a result, I have been able to weather the storm and still generate good business. #StrategicPivot—Daniel Lewis, Author, and International Speaker, CITP

Meanwhile, CITP Craig Atkinson talked about remaining on top of your sector specifics: “I think the best way to stay agile and adaptable is to stay abreast of what is going on in your sector and the potential impact of disruption. Adaptability depends on having a business structure that is flexible.

The second question prompted some excellent advice as well:

Question 2: Planning for global growth

Daniel Lewis chimed in first, suggesting that businesses need to start by asking the questions “why?”:

” I always suggest starting with ‘WHY?’ Whether starting or expanding your business internationally, asking WHY first can provide you with all the reasons (or lack thereof) for a specific course of action. WHY are you expanding?  WHY now?  WHY this market?”

“At the same time, I decided to polish my professional image and sharpen my international business knowledge by becoming a #CITP. With these tools on my belt as a foundation, I was ready to rock n roll!”

“If your WHY is compelling enough, then you can get to the HOW? Approached my global growth plans by first going through international business training where I developed an export plan to better materialize my goals and ambitions.”

Meanwhile, Lora Rigutto gave this nugget of wisdom:

If you fail to plan, you plan to fail. You need to determine how to move goods or deliver services to a target market, overcome regulatory or cultural hurdles, and use market entry and international sales and marketing strategy with clear and measurable sales and marketing objectives.—Lora Rigutto, Loyalty and Engagement Manager, FITT, CITP

Question 3: Weather-proofing and risk mitigation

Question three, “How do you weather-proof your business your own business as you grow globally?” got down to the details and surfaced some great insights, including notes on addressing knowledge gaps from Lora Rigutto.

Daniel Lewis, on the other hand, talked about creating multiple contingency plans with an “If this” guide:

Question 4: Risk and business

Question four addressed an important reality about business: that it always comes with risk.

There were multiple answers for this one from panelists and participants alike:

Question 5: How to expand

Question five dove into global expansion, a quintessential topic for SMEs, and it garnered advice that ranged from influencer adoption strategies to joining trade shows and trade missions.

Question 6: When to expand

Knowing exactly when you’re ready to expand your business is critical for success, and that’s what question six tackled:

Questions 7 and 8: Economic risk and opportunity

While questions seven and eight talked about economic risk and the opportunities they present. Panelists and participants recounted their experiences during the pandemic and how they used these to create opportunities for themselves:

Final Thoughts and Questions

And with that, the official questions were over and the panelists and participants were given an open mic to talk about topics, such as their CITP experiences:

And the single most important thing they did to weather-proof their business over the past year:

A fantastic gathering of great business minds, the Startup Chat gave emerging entrepreneurs and SMEs a lot to think about, in addition to access to Startup Canada and Startup Global’s plethora of resources, contests, and funding opportunities too.

Learn more about Startup Canada’s Startup Global Portal here: http://ow.ly/OBns50FXewH

Don’t forget, once you register, you can access several FITT presentations, workshops, videos, and even a discount on FITTskills training.

The post How to weather-proof your business: CITPs weigh-in with Startup Canada appeared first on Trade Ready.

The Jobs and Growth Fund (JGF) is a new $700-million federal government funding program that aims to support Canadian economies with long-term growth and jobs creation following setbacks from the global COVID-19 pandemic. Also, JGF includes up to $70 million for small businesses established after January 2020.

“By investing in our job creators and the organizations that support them, the Jobs and Growth Fund will help to create quality jobs, pursue inclusive and clean growth opportunities, and empower businesses and communities from coast to coast to coast.”
– Mélanie Joly, Canada’s Minister of Economic Development and Official Languages.

These businesses must meet the program’s eligibility criteria. Highlighting this is crucial, as most grant and loan programs need businesses to be well established, meaning there is less funding for startups and entrepreneurs.

JGF financial support is being administered by Canada’s regional development agencies, including FedDev Ontario for Southern Ontario applicants and Western Economic Diversification Canada (WD) for applicants in Western Canada.

Funding snapshot: Jobs and Growth Fund (JGF) for Ontario and Western Canada

Applications are now being accepted on a continuous intake basis until March 31, 2024, or until funding is fully allocated. The Jobs and Growth Fund (JGF)  supports projects that stimulate job creation and long-term growth for Canadian organizations through a diverse focus on rebuilding the Canadian economy following the trials and tribulations of the COVID-19 pandemic.

Funding amount

• Eligible businesses may receive interest-free repayable contributions for up to 50% of eligible costs
• Eligible not-for-profit organizations could receive non-repayable contributions for up to 90% of eligible costs
• Eligible Indigenous organizations may receive contributions for up to 100% of eligible project costs
• Project contribution amounts do not normally exceed $10 million

Applicant eligibility

• SME Businesses, including co-operatives
• Not-for-profit organizations and community economic development partners
• Indigenous organizations

Eligible projects

To be eligible for the Jobs and Growth Fund, projects must:

Strengthen the capacity in sectors critical to Canada’s recovery and growth:

• Support scale-up and market expansion activities
• Develop emerging areas of global competitive advantage
• Support supply chain adaptation and diversification opportunities in critical sectors such as food production, medical supplies, and biomanufacturing

Foster an inclusive recovery:

• Support businesses owned or majority-led by underrepresented groups
• Increase the participation of underrepresented groups in the economy by supporting not-for-profit organizations that provide funding, business services, training, etc. for a more equitable workforce

Preserve Canada’s competitiveness and future-proof SMEs through digital adoption:

• Support the development or adoption of digital and technological solutions (i.e. Industry 4.0) to increase and promote business productivity
• Invest in technologies that help scale businesses, enhance their capabilities, and increase resilience

Support the transition to a green economy:

• Support the development and adoption of clean technology
• Help communities and businesses plan and drive clean, sustainable economic growth
• Partner with organizations to catalyze the development of green regional clusters
• Work with organizations supporting businesses to transition to a green economy

Program timeline:

• Applications will be accepted on a continuous basis until all funding is allocated.
• Certain costs may be eligible on a retroactive basis up to 12 months before the receipt of the project application, but no earlier than April 19, 2021.
• All projects must be completed prior to March 31, 2024.

If your Ontario or Western Canada organization wants government funding through the Jobs and Growth Fund (JGF), please reach out to the Mentor Works team to help streamline the application and grant writing process.

Government grants and loans for COVID-19 recovery

Although many Canadian provinces are no longer in strict COVID-19 lockdowns, and national vaccination rates are higher than any other country, many businesses across Canada are still feeling the negative impacts of the virus.

In addition to the new Jobs and Growth Fund (JGF), there are other government programs dedicated to providing COVID-19 relief and recovery funding. Stay posted on the Mentor Works COVID-19 Funding Programs Page for resources, news, programs, and COVID-19.

The post How the Jobs and Growth Fund supports Canada’s economy through COVID-19 appeared first on Trade Ready.

Canadian employers, specifically, can receive up to 50-70% of an intern’s wage to a maximum $5k-$7k, or up to 50% of a recent graduate’s wage to a maximum $12k-$15k in hiring grants.

Spring and summer are the ideal times to use these incentives since there is a large youth talent pool during these times and funding programs are generally open to applications. Since many hiring grants operate on a first-come, first-served basis, interested employers should start the recruitment process as soon as possible.

Hiring grant options and how they work

While many Canadian businesses know that hiring grants and wage subsidies exist, few understand how they help, how they impact the recruitment process, or what they must do to access funding.

Most hiring grants and wage subsidies in Canada are directed at two types of hires:

1. Recent post-secondary graduates being hired into full-time, permanent positions.
2. Student interns being hired into temporary roles that provide relevant work experience.

Hiring incentives are provided to employers for a couple of reasons. For students and recent graduates, paid work experience provides relevant, meaningful job experience that leads to a greater understanding of their strengths and interests. For employers, internships and first career opportunities give their business access to a young, energetic audience that can grow within their company.

How much can employers receive in grants for graduates or co-op students?

When hiring recent post-secondary graduates, employers can receive up to 50% of the hire’s wages to a maximum of $12,000 to $15,000.

When hiring co-op students, employers can receive up to 50% of the intern’s wages to a maximum of $5,000. This increases to 70%/$7,000 if the intern is part of an under-represented group, such as women in STEM or newcomers to Canada.

How hiring grants fit into the recruitment process

Now that you know the options available when it comes to hiring grants, it’s important to illustrate how they fit into optimizing the recruitment process. Following these steps can help simplify the application process and maintain your funding eligibility:

1. Develop a candidate pool for your position.
2. Screen job candidates and select one person or more to tentatively fill the position(s).
3. Apply for hiring grants, matching the position and candidate to a relevant funding program.
4. Wait approximately five business days for the government’s response with the funding decision.
5. Hire the candidate and complete any additional documentation needed.

After funding is in place, you can formally provide an employment offer to the candidate.

Also, be aware that hiring a candidate and placing them on payroll prior to government funding approval can significantly complicate the process and often leads to applications being deemed ineligible.

Receive support to identify and apply for hiring grants

With so many funding programs available, it’s often best to reach out to a specialist who can discuss your specific hiring needs and identify a program that works best for your company.

Contact Mentor Works to discuss your eligibility, identify the types of incentives providing support, and optimize the application process.

Mentor Works is a business support organization specializing in Canadian government funding. The Ontario-based business has helped hundreds of businesses build and execute their funding strategy through a mix of federal and provincial government grants, loans, and tax credits. Mentor Works offers free online resources, funding webinars, and news via their website at www.mentorworks.ca.

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