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.

Canadians, members of one of the largest economies in the world, are largely aware of the benefits foreign trade can bring them. Over 70 years ago, Louis St. Laurent shared his opinion on this matter by stating that Canadians are dependent on foreign markets for products they make but don’t consume, and for the ones produced abroad that are essential to their well-being. Nevertheless, Canada’s exporting remains relatively low for an economy of its size – why? 

A lack of opportunity or confidence?

When we see the importance of international trade for other countries, we can rightfully ask why there is a lack of it in Canada. It’s not that Canadians are unable to see the opportunity, they are simply afraid of it.

A study from 2016 reports that two-thirds of Canadian SME’s feel like their businesses are not suitable for international expansion. The reasons? According to the survey, there are four main barriers to global development: knowledge, talent, resources, and risk exposure. SMEs reported they don’t have suitable (local) partners, and they lack in right local insights to consider expansion.

The obstacles of importing goods

Importing is crucial for a high number of Canadian small businesses; however, the whole process can be tedious and difficult to manage. Once they’ve determined what they want to import, Canadian businesses have to check whether there’s a demand for that product on the Canadian market and if it’s legal to use and sell. They also have to prepare paperwork for it: both in English and French, which is complicated enough.

Furthermore, there are complications in the logistics of imported products due to different taxes in each jurisdiction, product classification (where the same product is classified differently between jurisdictions), labeling, and safety requirements. All of this can be overwhelming, especially for new businesses.

Today’s Canadian SMEs trade in services

When we look at the data from 2017, we see there were 1.18 million employer businesses in Canada. The vast majority (97.9%) were small businesses, almost 2% were counted as medium-sized businesses, and only 0.2% were large businesses. More than half of them were concentrated in Ontario and Quebec. A vast majority of these businesses (78.4%) were in the service sector, while the goods-producing sector held second place.

The provinces that trade the most

Although Canadians are not great exporters, businesses involved in exporting can be found in every province. The province with the highest concentration of exporters per thousand establishments remains Ontario (48.4), while Manitoba (43.9) and Quebec (43.1) hold second and third place. Newfoundland and Labrador (17.2) are underdogs.

The contribution of Canadian SMEs

Canada’s export of goods increased to around $483.6 billion in 2017, which was a 6.19% increase from the previous year. SMEs contributed to 41.9% of 2017’s total export value. They managed to increase their export output from $186.2 to $202.5 billion. The most lucrative industrial sectors were responsible for more than 90% of the value of exported goods: manufacturing, wholesale trade, management of companies and enterprises, mining, and oil and gas extraction.

Top international business industries and breakdown of export value

When it comes to export, the biggest moneymakers in Canada are motor vehicles, aircraft, coal, and fertilizers. What’s more: Canada is the fourth-largest producer of oil in the world thanks to its tech-oriented industrial society, preferred by international markets. Canada is responsible for 5% of global oil production, and this trend will only grow – by the estimates of EIA International Energy Outlook 2019, Canada’s oil production could double by the end of 2050.

Canada’s hottest product in terms of export is cars: they are valued at almost $50 billion and have placed Canada in 10th place when it comes to auto-producing countries. Aircrafts, helicopters, and spacecrafts are ranked as the second most-exported products (more than 7 million), while natural resources, such as coal, are being ranked third ($6.7 million).

(Source)

The vast majority of Canadian exporting companies have less than 100 employees. However, that doesn’t stop them from producing a quarter of the total value of Canadian exports.

Main export destinations

Over a period of seven years (between 2010-17), the total value of exported goods increased to 4.3% per year, resulting in a profit of $484 billion. Canada’s main export destinations are the United States, China, the United Kingdom, Japan, Mexico, and South Korea.

Worth of goods imported by Canadian SMEs

In 2017 the import of goods made by Canadian SMEs increased by over 5% in comparison to 2016. What’s more, SMEs were responsible for almost 99% of all imports and nearly half of total Canadian imports by value. A vast majority of companies imported from Asian and European markets, decreasing their imports from North America.

SMEs and international trade: the final verdict

Even though they’re faced with many obstacles in international trade, Canadian SMEs are paving the way for future successful trading activities. One thing is for sure: there’s a lot of potential out there.

The post The state of Canadian SMEs involved in international trade appeared first on Trade Ready.

Taking place every year in the third week of October, Small Business Week celebrates Canadian entrepreneurs and their immense contribution to the Canadian economy with nationwide events that offer them opportunities to learn, network, share ideas, and grow their ventures.

To add to these celebrations, recognize the efforts of Canadian entrepreneurs, and make knowledge more accessible to them, FITT dedicated an entire month to celebrating the event. The FITT Small Business Month consisted of an array of activities, from exclusive access to free training opportunities, exciting giveaways and awesome discounts, to an opportunity to get trade-related queries resolved by an expert.

Through these activities, we also received a lot of great advice, tips and insights that can help entrepreneurs in their business journeys.

As a bonus, all newsletter subscribers in the month of October received a free copy of the FITT Small Business Guide: The Scaling Up Edition – a resource providing great insights into launching and expanding a business.

Here’s a summary of all the activities, special giveaways and advice for entrepreneurs that marked the month-long celebrations:

1. Facebook giveaway – advice on starting a business

Launched in the first week of October, the Facebook giveaway asked entrepreneurs the one thing they wish they had known before they launched their business.

The question elicited several honest and sincere replies, and three winners were selected to receive the prize of one free FITTskills online workshop each, based on the originality of their answers and other campaign criteria.

Here was the winning advice we received:

Livia Pellerin Carrière, Owner, MobilityJunkie – “I wish I had known how to narrow down my big dream into something scalable instead of launching myself in pursuits of ridiculous grandiose labour I couldn’t even work with.”

MobilityJunkie helps weightlifters and CrossFit athletes get past the stigma that the sport creates injury by arming them with effective mobility tactics to keep them injury free, increase ROM, keep joints healthy and STABLE.

To connect with her business on Facebook and Instagram, look for @mobilityjunkie.

Nourhan Hashem, Owner, AITYF (Africa Intra Trade Youth Forum), wishes she had known more about “business networking in new markets, planning, monitoring and evaluation.”

AITYF is an organization aims at developing the capabilities and skills of African youths on the international trade field to contribute effectively to the Intra Trade growth in Africa.

Dale Schaub, Business Advisor at Business Link says that “Market research/designing products and services with clients’ wishes in mind, and proper accounting practices” were the topics he wished he knew more about prior to setting up his venture.

Business Link is a non-profit that helps people start businesses in Alberta. Connect with them on Twitter by looking for @BusinessLinkAB, or with Dale by looking for @daleschaub1.

2. LinkedIn giveaway – advice learned the hard way as an entrepreneur

The following week, entrepreneurs had another chance to win by answering the following question on LinkedIn: What did you learn “the hard way” as an entrepreneur?

The winning response was from Roy Pereira, a serial entrepreneur and tech executive, who offered the following advice:

• “Revenue is the best metric for success.”
• “Your vision is long-term, not the current tactics.”
• “Fire fast, hire slow.”

3. An opportunity to receive free business training

Businesses were invited to apply for free online workshops for a chance to be selected as one of three winners to receive two workshops of their choice each.

The lucky winners were:

• Louis Benatshipama, Owner, Impetus Africa| Corporate Sourcing Solutions and Foreign Investment Facilitation – “We make it easy, efficient and risk free for Canadian companies to do business with Africa”. Connect with Louis on LinkedIn and Twitter.               
• Allan Nichols, President of the Global Canadian Business Forum (@CanadianForum) – “Working with Canadian business organizations abroad, Global Affairs Canada, foreign diplomatic offices and other stakeholders, the GCB Forum provides inspiration, information, and networking opportunities for entrepreneurs looking to grow their business abroad.”
• Badamtsetset Altansogt

4. To celebrate Small Business Week, all FITTskills online training was 50% off from October 21-25.

5. Twitter pitch event

On October 22, business owners pitched their businesses on Twitter in 280 characters or less for a chance to win one of three free EDC-FITT online workshops to boost their business knowledge and skills.

Here are the three winners along with their pitches:

Peter Deitz, UnWrapIt (@unwrapit)

UnWrapIt is #zerowaste corporate gifting that delivers results. We specialize in creating high-volume & personalized gift experiences that engage and inspire any number of event attendees before, during, or after an event. Reveal anything as a gift with @UnWrapIt_ #eventprofs pic.twitter.com/vhIo6GUjV6

— UnWrapIt (@UnWrapIt_) October 22, 2019

Cozy Intentions (@cozyintentions)

We are a Clothing brand with a cause. Canadian Made, Soft Bamboo Jersey ladies pyjamas. A portion of our sales supports local women’s shelters in our province. As an e-commerce store with upcoming opportunity for retail Here & US sales. #womenhelpingwomen pic.twitter.com/mAIhRqPnHG

— Cozy Intentions Clothing (@cozyintentions) October 22, 2019

Doug Lessing, Phin (@phinforgood)

What if you could use your time online and on #socialmedia to create a positive impact? Now you can. Phin offers a new way to incorporate #social causes into your daily online life making it easy to do your part to create a #betterworld.#FITTsmallbizmonth #globalentrepreneur

— PHIN (@phinforgood) October 22, 2019

Doug explains that “Phin is a Pending BCorp which helps companies build relationships with people and meaningful causes by connecting them through sponsored donations.” #PhinForGood #BtheChange”.

6. Free tickets to the Startup Canada Canadian Export Challenge Event

Interested entrepreneurs could register for and receive, on a first come first serve basis, a limited number of complimentary passes, arranged for by FITT, to the final Canadian Export Challenge event in Toronto.

7. LinkedIn Ask Me Anything (AMA) with Igor Chigrin CITP|FIBP

The AMA session offered entrepreneurs and business enthusiasts a unique opportunity to get their trade-related queries answered by an expert. The session was a huge success with questions pouring in from across Canada and the world. Igor Chigrin, CITP, Export and Import Consultant at Win Global Partners, offered informative solutions and sound advice to every participant, lending a helping hand with some of their most pressing concerns.

Some excerpts from the session:

The FITT Small Business Month campaign ended on a successful note and proved to be a win-win for aspiring entrepreneurs, small business owners and their employees, and others in need of accessible, quality business training.

Looking to expand your business? Here are some pointers to help you with your next steps.

• Learn more about FITT’s online training
• Download your free copy of the FITT Small Business Guide: The Scaling Up Edition
• Subscribe to FITT’s newsletter for the latest updates, events, and more

Stay connected with FITT on:

• Facebook
• LinkedIn
• Twitter

The post Recapping the celebrations and advice for entrepreneurs from FITT’s Small Business Month appeared first on Trade Ready.

Getting to Global and the Forum for International Trade Training (FITT) partner to empower businesses to export with confidence through exclusive online training offerings from the acclaimed FITTskills program and CITP®|FIBP® certified industry experts.

Ottawa, ON –October 2, 2019 – Getting to Global, an initiative that connects exporters to global business resources, and FITT, the standards, certification and training body for international trade practitioners, have partnered to bring the acclaimed FITTskills training to the newly launched Export Connect platform. The new space will not only be a catalyst for entrepreneur access to global resources, but also to valuable tools, expert advice, and new business opportunities needed to expand overseas.

Patrick L. Perreault, Co-Founder of Getting to Global, said, “Export Connect is the variable that was missing from the equation. We went from being an educational platform on global strategy to a real toolbox for SMEs to connect them to the experts and resources they need to go global. “Export Connect is literally connecting the dots between government resources, service providers, industry experts and SMEs to facilitate their expansion into new global markets. We’re excited to count FITT as a partner as they bring world-class training content to Export Connect and give exporters access to their network of certified international trade professionals.”

“If businesses don’t have the know-how to go global, they’ll give their profits to someone else, ”

says Caroline Tompkins, President and CEO of FITT. “Regardless of how good the product is, without export capable people, success will be harder, riskier and more expensive than it needs to be. We’re excited to be expanding our support of entrepreneurs alongside key players within Export Connect.”

Getting to Global brings together industry experts, business leaders, and government officials to help your company go global for faster growth. Export Connect is the latest addition to Getting to Global’s set of tools, a game changer for small and medium enterprises, trade and investment promotion organizations, and trade experts alike. And with FITT as a partner, SMEs will have direct access to the most important network of certified international trade professionals.

About FITT
The Forum for International Trade Training (FITT) is the standards, certification and training body dedicated to providing international business training, resources and professional certification to individuals and businesses. Created by business for business, FITT’s international business training solutions are the standard of excellence for global trade professionals around the world.

About Getting to Global
Getting to Global brings together industry experts, business leaders, and government officials to help small and medium enterprises go global for faster growth. We rely on a strong network of partners to aggregate the resources and data SMEs need to enter the global online arena in an unprecedented and simplified way. And we are more than just a website. In addition to creating a profile on Export Connect, entrepreneurs and business owners of all kinds use our Duties and Taxes Calculator to avoid bad surprises when shipping internationally. Or they find our Market Accelerator and discover what markets await them to expand and start growing.

If you have any questions, please contact us at afleury@perimetre.co.

The post Getting to Global and FITT announce partnership to add online international business training and expertise to export-connect.org appeared first on Trade Ready.

What 2019 global trade trends should you be looking out for? Here’s a preview of what could be dominating the headlines and your work conversations throughout the next 12 months.

1. Will the new USMCA be ratified?

After over two years of anti-NAFTA rhetoric from President Trump and many rounds of negotiations, a replacement deal to govern North American trade, the US-Mexico-Canada Agreement (USMCA) was finally signed by the leaders of Canada, the U.S. and Mexico on November 30, 2018.

Before coming into effect, however, the deal must be ratified by the legislatures of all three countries. This step could be particularly challenging in the U.S., where a newly elected Democratic Congress may object to some aspects of the deal or simply be unwilling to give Trump a victory on the issue.

While the general sentiment is hopeful for a full ratification in 2019, a significant roadblock in any of the three countries could leave the issue open-ended for at least several more months.

2. Brexit is coming

With a March 29, 2019 date set for the UK to officially leave the EU, Theresa May’s government has little time left to gain domestic support for the Brexit deal she has negotiated. While a December vote was postponed due to a lack of support, May has survived a non-confidence vote and re-scheduled the Brexit vote for the week of January 14.

If a deal is not reached by the March 29 deadline, the UK will face a “hard Brexit” with no guidelines determining significant UK-EU issues like the Irish border, migration, travel, and trade. Despite UK government plans for this contingency, a no-deal Brexit could send the British economy spiralling downward with negative implications for the global economy as well.

3. Is your data safe?

As major corporate data breaches become increasingly common headlines, and the value of data seemingly increasing every day, companies face a conundrum: how can they gather the data they need, but also keep it safe?

Adding extra levels of online security and authentication for customers, as well as changing internal processes to improve passwords, store data more securely and eliminate potential security gaps may all need to be added to your 2019 to-dos to ensure a high level of trust between you and your customers, suppliers and partners.

4. Addressing gender inequality to improve economic opportunities

Despite a growing awareness and focus on the importance of women’s entrepreneurship, studies show that many challenges remain. According to a policy research paper published by the World Bank, the “gender gap in business ownership remains high in many economies around the world”, and “the gap in female entrepreneurship is especially apparent in low-income economies, where women are much less likely than men to start a new business.”

New research from PayPal Canada and Barraza and Associates also indicates that in Canada, “on average, women-owned businesses earn $68,000 less than men who run similar businesses.”

As issues like access to venture capital and corporate procurement opportunities continue to face women-run businesses, one area of success is in e-commerce businesses. 50% of new e-commerce businesses started in the last two years in Canada are run by women, compared to just 34% 10 years ago.

5. AI tools becoming increasingly commonplace

AI has several applications in international trade, from analyzing metrics and economic trends or optimizing warehouse and inventory management to linguistic translation and online sales or chat services, not to mention exporting AI tools themselves.

As technology is refined and these tools are more widely understood, questions regarding data security and IP protection are starting to come to the forefront. But for businesses willing to take the leap, AI has the potential to transform some of their business practices and give them a competitive advantage in their industry.

6. The CPTPP comes into effect – how could it affect you?

As of December 30, 2018, the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) comes into effect. This trade deal replaced the TPP after President Trump withdrew the U.S. from that agreement in January 2017 but still includes the other eleven countries from that deal: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

The agreement removes the vast majority of tariffs and other trade barriers, and enforces new standards for human rights and environmental and labour practices.

Will there be a noticeable increase in trade between businesses in these countries? And with opportunity for new countries to join the deal at a later date, could early successes entice any other countries to take steps towards entering the agreement?

7. The fading appeal of Bitcoin and other cryptocurrencies

A year ago, the potential for Bitcoin or other cryptocurrencies to serve as a transformative tool in global finance seemed high. Bitcoin’s value had never been higher, and increasing numbers of banks and other financial institutions were taking steps into the cryptocurrency arena.

What a difference a year can make.

After a December 2017 high of $20,000, Bitcoin is currently valued around $3,500. Other major cryptocurrencies are also valued at 85-90% below their all-time highs. Public excitement has turned to skepticism in some corners, or concerns about fraud and scams in others.

Even if values increase in 2019, significant changes will be needed to restore trust and support in cryptocurrencies before its wider acceptance in international trade can be re-considered.

8. Accelerated growth of service export industry should continue

Service exports can cover a multitude of areas: international customer service, financial, legal or consulting services, research and development, online services and platforms, and more.

In Euler Hermes’ 2019 forecast, they predict service exports to be the fastest-growing trade economic sector, with an estimated global growth of $365 billion USD, similar to 2018 growth levels.

As service export opportunities continue to grow in the world’s largest economies and emerging economies alike, businesses should look for ways to expand their service offerings through methods like servitization, or service exports directly connected to your existing product exports.

9. Personalizing is key to reach new customers or businesses

With the increasing numbers of ads, emails and content out there competing for attention, more businesses are trying to apply the personal touch in an effort to stand out.

From using increasing amounts of data to target specific ads to personalizing email offers and even web pages around user behaviour and interests, there are more ways than ever to make someone feel like your efforts were created just for them.

On the other side, businesses are increasingly turning back to old practices that had fallen by the wayside. Personal calls, direct mail and printed media like magazines or booklets are returning to the marketing playbook, as what was once cliché is now a novel or unique approach again.

10. Small businesses need employees ready to help grow and expand to new markets

According to a Business Development Bank of Canada (BDC) survey, about 40% of small businesses are unable to find the right employees to grow. EDC also noted fewer Canadian businesses are newly exporting or planning to export to new markets in the near future.

To overcome these challenges, small businesses require employees able to research international markets, assess potential risks, create and implement market entry strategies and manage the international logistics, finance, marketing and sales, and other areas.

Looking for practical, flexible training to take your business into new international markets with confidence? Check the full list of EDC-FITT online courses and workshops to see which options work best for you.

We face an eventful year ahead, full of innovation, political risks, and important new opportunities for business growth.

What trends will you be most interested in throughout 2019?

The post 10 global trade trends we’ll be watching in 2019 appeared first on Trade Ready.

The news surrounding global trade seems to be all doom and gloom, with politicians spouting anti-trade rhetoric and economists warning of a looming trade war. No doubt, the international trade market is rife with challenges, but amid these challenges lie plenty of opportunities, particularly for small and medium-sized businesses.

Backlash against trade agreements

With Brexit long since passed and U.S. President Donald Trump and other politicians rallying against international trade agreements, the climate seems poor for embarking on international trade. While some countries, like the United States, are pulling back on trade agreements, there are plenty of countries forming new trade agreements that ease the path for international good and services.

The EU has been a leader in forming new trade agreements, making trade between Europe and South America, Canada and Asia easier and cheaper. These new trade agreements present exciting new markets for international trade, even as the overall tone of international trade seems bleak.

Tough talk on China

China often gets a bad reputation for the role it plays in international trade. While China does show dominance in the international trade market, for businesses, that dominance brings with it ample opportunity. China is spending billions of dollars to beef up its trade infrastructure to make trade between China and Eastern Europe easier and more secure. China also is cutting tariffs on consumer goods coming from Europe, expanding the market for foreign imports.

On top of that, China continues to address regional regulations that make it difficult for businesses to navigate trade within the country, so that companies looking to do business in China don’t have to struggle with an abundance of trade laws.

The complexities of international logistics

For a small or medium-sized business just entering the global trade market, the complexities of international logistics can be downright overwhelming. There’s certainly no downplaying the complicated supply chain that moves raw materials and finished products around the world, but that complexity shouldn’t deter small and medium-sized business from entering the global trade market.

Take advantage of the technologies and strategies that can help you navigate and plan your international logistics and execute your logistics strategy. There is software that can tell you which regulations your company needs to be aware of as you move goods, as well as software that can help you plan your best and most cost effective, logistics routes. You can also keep track of secondary routes, should you run into shipping  complications.

International markets dominated by trade giants

With big names like Apple, Amazon, Toyota and Nike seemingly dominating the international trade market, there seems little room left for small and medium-sized business. That’s a dangerous mindset to take, and one that can stop your business from growing with international trade.

In fact, small and medium-sized businesses have many advantages in the international trade market. Their size allows them to maneuver quickly to keep prices low or deal with logistics challenges. On top of that, many of the largest companies in the international trade market rely on small and medium-sized businesses to provide them with supplies, products and services, creating even more opportunity for smaller companies to thrive internationally.

SME’s can find their niche and grow

There are certainly many big-name companies doing billions of dollars in international trade, but with so many markets and opportunities available, there’s plenty of room in the international marketplace for small and medium-sized businesses to find their niche and grow their profits.

The tone against international trade, and the challenges of international trade keep many small and medium-sized businesses from seeking international growth. What these businesses don’t realize, however, is that the challenges of trade come with many opportunities, and companies that are willing to navigate those challenges are likely to be rewarded with new markets, new customers and plenty of new opportunities for growth.

The post How SME’s can seize the opportunities of a challenging global market appeared first on Trade Ready.

I started in the sports facility and sporting goods industry, where I held management positions that led to a position in retail sports management and leading training initiatives.

From there I was recruited to work for the Canadian Cancer Society. Some people find it an unusual leap to go from the competitive retail world to the not-for-profit sector.

However, I often find myself reminding folks that the methods and best practises are the same, and I enjoyed the challenge of working in a new sector.

Recruited into the global trade world

While at the Canadian Cancer Society, I was approached to join a company that was expanding in North America.

My career in international trade then began in inside sales at Cobham Tracking & Locating, a subsidiary of the larger Cobham group, which is a global player in aerospace, defence, and electronics.

I worked my way up to an account manager position for marine, aerospace and defence systems, serving over 900 clients and distributors worldwide. Many of these distributors, particularly those located in England, Germany, Japan, Singapore and India, have become lifelong friends.

The sectors I serviced during this time ranged from oceanographic and marine technology, to oil and gas, aerospace, and defence.

This meant I worked with military and academic research facilities worldwide managing high-level logistics processes, including International Traffic in Arms Regulations (ITAR), Controlled Goods Regulations, Global Affairs Canada, and the U.S. Department of State.

This position required an in-depth knowledge of contract law and government regulations as they relate to commercial and contract functions. I gained experience in drafting and negotiating long-term supply and purchase agreements, as well as distribution agreements, collaboration/teaming agreements and non-disclosure agreements.

One of my biggest responsibilities was identifying key areas in contract terms supplied by other parties that would represent a significant risk to the company.

Getting hooked on FITTskills

During this time, I became aware of the FITTskills program. Although I had learned a great deal in my position at Cobham, I felt there was still much more to learn about managing a global supply chain.

At that time, the first course available through FITT’s delivery partner Nova Scotia Business Inc. was Legal Aspects of International Trade.  After completing the first course, I was hooked! From there, I was determined to complete the remaining modules and become certified in international trade.

Taking FITTskills courses was such a rich learning opportunity.

The practical FITTskills content, knowledge and first-hand experiences of the instructor, and the interaction and sharing between my fellow participants was, and continues to be, beneficial.

The connections I made in the global trade community have been extremely valuable and I have stayed in touch with many of them over the years.

Striking out on my own with the help of some brilliant business leaders

Eventually my role changed, as some of the products were sold to another company. After following through and establishing the product line with the new ownership, I realized it was time for a change.

I decided to pursue a career in consulting.

I recognized that many companies had a great deal to offer in the export market, yet there was a reticence to move past the perceived safe and comfortable borders because of a gap in knowledge on how to access foreign markets and the very real fear of the unknown.

I began my new business as a sole proprietor, building my company and reputation through subcontracting services to Kisserup International Trade Roots Inc. The founder of Kisserup, Pernille Fischer Boulter, CITP|FIBP, has many years of experience in international business development.

She has assisted thousands of small, micro and medium-sized private sector companies, trade and industry associations, and government agencies in their pursuit of export development worldwide.

Pernille generously assists those who are new to business, particularly in international trade, and she also has been a FITTskills instructor for many years. Working with Pernille and her team solidified both my knowledge and reputation, while building my experience assisting entrepreneurs from a variety sectors and geographic locations.

I connected with Bonnie O’Toole, President of Market Pursuits Inc., during my time in the FITTskills program, when we partnered up on our international business plan project.

In 2013, I joined her at Market Pursuits, once again subcontracting services to help businesses select target markets, access funding, and cut costs. We specialized in business development, marketing and business plans, government and community relations, funding proposals, and productivity optimization.

She has an amazing reputation in the Atlantic business community, known for her wealth of knowledge and quick grasp of business process improvements. Bonnie’s mentorship was crucial in developing my ability to create and deliver quality training to my clients.

Both Pernille and Bonnie have been extremely generous and influential, as both colleagues and mentors.

Educating myself to empower others

I am a strong believer in lifelong education. I spent 24 years as a an elected school board member and have found myself naturally gravitating to leadership positions on a local, provincial and national basis in both my professional and volunteer activities.

I knew many individuals and businesses could expand the way mine had, and I knew I wanted to help enable others. This passion led me undertake training and skill-building to better deliver information to those of all generations and learning styles.

Subsequently, I have been able to grow through many professional development opportunities. I earned my CITP®|FIBP® accreditation in 2012, and completed my Masters of Project Management from St. Mary’s University in 2013.

I also have several workplace educator certificates through the Department of Labour and Advanced Education.

I make a special effort to attend and promote events supporting new entrepreneurs. I am also a guest lecturer at universities and other post-secondary institutions and have been asked to serve as an expert panelist for national organizations.

I’ve been fortunate to help a great number of organizations with my leadership coaching, team facilitation, training, and business development expertise. One milestone I’m quite proud of is that I’ve now done business development in over 30 countries.

A large part of this is teaching the world-renowned FITTskills training and partnering to deliver Going Global workshops here in Canada and beyond.

I also provide personal training with Corporate Class Inc., mentoring leaders, key management and up-and-comers through customized training that aligns academic and technical expertise with individual, professional potential.

My training activities provide a great deal of satisfaction to me professionally and personally.

I love breaking down seemingly complex situations into manageable pieces or steps for participants. It is that moment, when they make the connection and identify their strategy, which I find most gratifying.

Taking on a new business challenge as I go BEYOND

In September 2015, I changed my business structure, incorporating as BEYOND Ventures Group Business & Trade Development Inc. For me, BEYOND poses a new direction, challenge, and to some degree, risk.

My goal with BEYOND is to partner with organizations globally to provide our clients with a competitive advantage. Our team is a diverse pool of enthusiastic local and international consultants, each of whom have a specialized area of expertise, enabling our clients and partners to succeed beyond their expectations and beyond borders.

We are committed to the growth and development of small and medium-sized (SME) enterprises from a wide range of economic and industry sectors,  building capacity and increasing their global reach.

BEYOND has already proven to be a success, with targets exceeding plan in the first two quarters and committed work to carry us through until our year end. The growth has been organic and steady, leading to a shortage of what many business owners struggle to find as well – time.

Facing the demands of the business I love

International business is exciting, but never easy. Global business professionals are faced with the requirement for frequent travel, often hampered by inconsistent internet connectivity, and challenged by cultural differences, as well as the pressures of meeting deadlines in different time zones and schedules.

Fortunately, the world is getting smaller every day through technology such as teleconferencing, videoconferencing, email, and social media that allow us to interact daily on a global basis.

Even so, my work schedule can be challenging, since I am constantly working across time zones.  That means I am often up at very early hours connecting to the EU, and working late nights for my clients in Australia.

A particular concern is navigating time zones during the switch to and from daylight savings, and being aware of holiday observances within my clients’ markets.  Once, during a business trip to the EU, I forgot about the one-hour time difference between England and the Netherlands.

After leaving England, as I was about to land in the Netherlands, I realized my error. Thank goodness I booked a rental car with a Tom Tom, or I would never have made it on time to my meeting. As it was, I arrived with only five minutes to spare.

I have been fortunate to see so many of the beautiful people and places in the world.

Quite often, I will steal a few hours early in the morning after the final day of a trade mission to swim in the ocean, go for a walk, or find some way to build a memorable moment before heading home and on to the next challenge.

Most memorable to me are the people I have had the good fortune of working with. I am constantly in awe of their knowledge, skills and generosity.

I am looking to grow BEYOND, to partner with like-minded entrepreneurs and provide short and long-term employment to individuals, particularly recent graduates and student interns, to ensure we provide our talent with opportunities through experience.

My five year plan will have this solid foundation in place, enabling businesses in Canada and abroad reach their dreams….and beyond!

The post In the challenging world of global business, connections and education are the keys to success appeared first on Trade Ready.

In 2016 Canada should focus and exports, experts say.

Export development and investment in trade enabling infrastructure are the two key elements that should keep the Canadian economy steady in 2016.

A rough start to 2016

Despite their best efforts, however, the experts that presented the Canadian Chamber of Commerce’s Crystal Ball Report in Ottawa on January 28 warn that the Canadian economy is in for a bumpy 2016.

“The worst start to a year on record,” said Perrin Beatty, CEO and President of the Canadian Chamber of Commerce in the event’s opening presentation.

Prices of oil reached the level where the lid of the barrel costs more than what’s inside the barrel.

According to Beatty, in 2016 Canada’s economy will face many challenges such as high consumer debt, an overheated housing market, and the inability to rely on traditional sources of growth, such as natural resources or internal consumer spending.

A deep divide in the nation’s business community

The Canadian business community seems to be deeply divided in its outlook, between optimism in sectors that are experiencing rapid growth such as forestry, automotive and technology, and gloom in the mining and energy sectors stricken by low commodity prices.

“The turbulences wreaking havoc in certain parts of the economy are actually fueling a spectacular, double-digit growth in other parts of the economy,” said Peter Hall, Vice President and Chief Economist for EDC and a contributor to the report.

Hall also added that because of the makeup of the Canadian economy the exports are really the engine for moving forward. “And I am not just saying this because I am representing EDC,” he emphasized.

Many Canadian businesses share this sentiment. According to Canadian Chamber of Commerce’s report, most businesses expressed enthusiasm over prospects in the U.S. and Europe, whose economies are expected to grow in 2016. Beatty explains,

Where is growth going to come from? Not consumption – consumers are tapped out. Government spending cannot provide much lift. Most provinces are in cut-back mode. We cannot rely on natural resources anymore. Housing is overbuilt. That means we have to start exporting like crazy.

Exporting to other countries, however, is not as easy as it seems, says Corine Pohlmann, Senior Vice President for the Canadian Federation of Independent Businesses that represents over 100,000 small business owners from coast-to-coast. Small businesses contribute over 50% to Canada’s GDP and provide over 90% of all private sector jobs.

Time to reduce burdens on exporters

“The cost of doing business with the U.S. is still expensive for many companies. We really should start focusing on reducing those types of expenses. There are still too many surprises there. We need to decrease financial and regulatory burden,” Pohlmann said.

Responding to Pohlmann’s concern, Beatty said that enhancing trade enabling infrastructure as well as trade and regulatory harmonization are critical for the economy to grow.

For many industries in the knowledge economy, regulations, ownership requirements and restrictions on data flows can be the most difficult barriers to success. Canada must move quickly to ratify the TPP and a comprehensive economic and trade agreement with Europe.

Ratifying free trade agreements with nations like China will help many small Canadian businesses feel less ‘intimidated’ and help them to understand what needs to be done to access these markets.

Panel experts also identified the shortage of a qualified workforce as a major obstacle for growth. According to the Crystal Ball report, Canadian businesses are facing skills gaps and mismatches right across the board, creating an urgent need for new immigrants and for the skills and education aligned with the needs of employers.

Summarising the outlook for 2016, Hall said that economic turbulence comes with positives and negatives.

Volatility has to come with the growth. Our job is look for those sources of growth, and when we find them to take as much advantage of them as we possibly can.

Do you think Canadian exporters can turn the economy around in 2016? Do you plan to take advantages of the opportunities out there and start “exporting like crazy?”

The post Why “We have to start exporting like crazy” appeared first on Trade Ready.

Similarly, when it comes to global business and Microglobal in particular, there are only three things to remember….relationships, relationships, relationships!

Business doesn’t happen overnight and when you’re trying to conduct business overseas, that’s doubly true..

Business takes time and in other countries, much of business is built on relationships.

Be willing to invest yourself, your time and your energy into creating meaningful relationships with the people you want to do business with overseas.

What is Microglobal?

Microglobal is the concept that small business and micro-enterprise can enact in and be part of global commerce. Some assume that only large corporations and multinationals with cargo containers full of merchandise can be part of international trade. Microglobal supports the notion that even the smallest of business endeavors can have a global component.

Take your relationships to the global level

Now, admittedly, global business is no small task. Time zones and distance can seem daunting and may require some odd hours to make a Skype call happen.

Customs and culture can make it tricky to navigate certain situations, so educate yourself and find out a bit about the country you want to do business in.

You would be surprised by how excited your overseas connections become when they discover that you’ve done your homework and can actually recite a bit of information about their home country.

In addition, if you’re interested in doing global business, then you should be interested in travel. You may be fortunate, as I’ve had happen on occasion, when an overseas connection is headed stateside. You’d better believe I find a way to meet them while they’re here.

But I’m just as willing to head abroad as our business conversation develops.

Establishing trust can be difficult when it is done only via cell phone or email.

A trip overseas to meet in person can be the missing piece in your project development.

Of course, even after you’ve been abroad, depending on the country you are working in, things may still take more time. Don’t get discouraged, but also, don’t put all your eggs in one country’s basket (so to speak).

Maximize the resources and relationships you already have

As a Microglobal business, time and resources are often limited, so be willing to keep an eye on various projects and let them simmer a while as needed. Some get cooking right away, others need to marinate a long time before they’re ready – sorry for the cooking analogies, but you get the idea.

Relationships are key not only with your global connections, but also with the resources you will need along the way.

Get to know your local Small Business Development team, your Centers for International Trade, your Commercial Services officers, your bank, and your shipping agencies such as USPS, FedEx or other.

There are a lot of helpful services out there geared toward assisting small business in successful global transactions. You will want to have these resources on hand when things finally get underway. In order to get the best advice and the best assistance you need, you’ll want to build those relationships before you go global.

It’s all about relationships

Here are the top 3 things to consider as you prepare for global success:

1. In order to build relationships, you must reach out.

There are so many ways to get connected but it’s up to you to make the effort. Don’t let language or distance become unseen barriers. Go for it!

Through social media and networking sites, it really can be as simple as an email introduction to get the ball rolling.

Not sure what to say? Start with “hello” and a genuine interest in wanting to discover more. Let things evolve organically.

While you don’t want to waste anyone’s time, it’s also perfectly okay to start by sharing information or asking questions. Sometimes, something as simple as commenting on social media about someone’s product or service is enough to plant the seed of future relationships.

2. Once you start flexing your relationship muscles, you’ll want to keep on building them.

Don’t be afraid to ask for introductions and don’t be afraid to make introductions for others.

For the most part, we are all looking for ways to discover new connections and expand our network. This is an opportunity for you to do more than just make “the ask”, you can also offer something in return.

Perhaps it is an introduction to a colleague, a service provider or other support you can provide from your own network. Remember, the best relationships are built on reciprocity.

3. Remember that for any relationship to stand the test of time, you must put in the effort to maintain it.

Perhaps an introduction didn’t lead to a business transaction. That doesn’t mean you should let the relationship die on the vine. Stay in touch, even if it’s less frequently. Sometimes, something as simple as responding to or sharing a social media post from your distant connections can be a small way to show an ongoing interest in the relationship.

Stay positive and look for small ways to remain in contact, you never know when timing might change making your contacts ripe for collaboration.

But perhaps the most important relationship in all of this is the one between you and your business. That’s because you develop a stronger sense of who you are and what you’re capable of as you take your company out into the world.

It will teach you, it will challenge you but it will also create a stronger sense of who you are, what your business is all about and what you’re capable of out in the world. And that’s one relationship that will never let you down.

Which area of building global business relationships do you need to focus on the most for your company’s needs?

The post The 3 things you must know about building global business relationships to go MicroGlobal™ appeared first on Trade Ready.

This might sound familiar if you’ve ever brought a great idea into the office and heard, “Excellent idea! But there is no one in the office to do it.”

Suddenly your moment of great inspiration has turned into a lot of extra work you had not anticipated.

Stepping up to help other businesses

This is exactly what happened to me a few weeks ago. My organization (World Trade Centre Winnipeg) had been working for months on securing an international trade project to deliver some education modules on behalf of a government organization. The project concept continued to evolve from the time it was initialized to its final stages.

The end product was a two-day workshop for a group of Canadian small and medium-sized companies (SMEs) specializing in the IT sector.

Companies, it turns out, that were in different stages of seeking Research & Development project partnerships in the European Union (EU), and with widely diverse levels of international experience.

To make matters more complex, what had started off as an international boot camp for 6-8 companies eventually attracted 17 companies from across Canada.

Each company was very eager to make the event a worthwhile experience, since they were taking time off to attend the workshop, on top of the travel time to get to Winnipeg.

My organization’s role was to deliver the second day of the workshop, focused on how to do business in the European Union.

Preparing for the challenge with FITT courses and a lot of practice

At the time I presented the project concept to my organization months before, it had never dawned on me that the person tasked with delivering the workshop would be me.

This meant I would not only be responsible for delivering the presentation material on the day of the workshop, but also for developing and preparing the material.

There was no one else available in our office for the task.

Two weeks before the workshop I was handed a draft PowerPoint presentation covering five hours of teaching modules that I needed to prepare. My first instinct was that this was not possible. Fortunately, I soon discovered a silver lining.

As I flipped through the pages for the first time, I realized that I already knew most of the information to be covered. The FITT courses that I had recently completed covered a lot of the content I had to teach, and with a bit of ingenuity, I could probably get by.

But time was of the essence. As my workdays were packed with my other workload, I found myself preparing in the evenings and on the weekends.

Two weeks later, the deadline arrived.

We all know the feeling. Regardless of how many times you have given presentations, it is always a daunting task to speak in front of a large group of eager people; people expecting to absorb some knowledge from you.

About a minute before my first words to the group, while I was nervously getting ready, a little piece of magic happened. One of the participants came up to me, and after exchanging the usual morning greetings and admitting I felt a little nervous, he looked me straight in the eye and said:

“Just tell your story.”

Use your experiences and what you know to accomplish your goals

Well, that’s exactly what I did. As the five different modules were presented over the course of the day, I found I wove more and more of my personal experience into the content.

I realized that having gone to seven different schools in three different continents before my 20th birthday, speaking four languages, and starting my own international career in the Democratic Republic of Congo, Zimbabwe and Uganda, I had a wealth of interesting experiences I could share with the group.

From the international financing of a coffee processing plant in Africa, to the complexities of transporting its cargo through jungle and war zones to reach chaotic ports and pirate infested seas, I was able to weave my experiences in memorable lessons as part of the module teachings.

I quickly realized that I did have a story to tell and many experiences to share.

I have lived and been educated in such diversity, and amongst so many different cultures. What seems completely natural to me, I found, is not always so obvious to others.

I talked about giving greetings and gifts, learning proper business etiquette and cultural protocol while developing an international business alliance. These are all important skills to master in order to develop a successful partnership.

I have had the opportunity to experience all of these in my previous career roles.

When my portion of the workshop was complete, I have to admit it turns out that being told “You will have to do it!” was a blessing in disguise. It led me down the road to what turned out to be a truly great experience. I ended up enjoying my teaching day and my colleagues now knew that I could deliver.

What opportunities do you have to “have to do something” new and exciting in your international trade career?

The post How I used storytelling to liven up a daunting international trade project appeared first on Trade Ready.