One of the perks of a career in business is travelling to attend conferences, meet clients or form new partnerships. These trips can open up a world of opportunities for your work, but they can also be stressful if not well planned. Having travelled extensively for business and pleasure for over 20 years, I’ve learned a few things that have made these trips more productive and enjoyable. Rather than learn the hard way, here are five essential hacks especially for women travelling internationally on business.

1. Keep Calm and Carry-on

Travelling for business can be quite hectic. If I had a dime for every time I had to go directly from the airport to a meeting, I would have at least five dollars by now! Even if you do have time to check into your hotel before the games begin, why would you want to prolong your time in the airport? Even worse is being delayed by late or missing luggage. And if your power suit is in your checked suitcase, your next meeting might feel more stressful than it has to. For these reasons, I highly recommend that you don’t check any luggage unless your trip’s duration is more than a week.

Carry-on and hit the ground running, with your rolling suitcase behind you as you get to the front of the taxi line. It’s a real confidence boost, which is great for business.

2. Don’t Look Strange in a Strange Land

50 countries and five continents later, I’ve been fortunate to have experienced a diverse range of cultures and traditions. As a Canadian, I understand how we pride ourselves on our stance regarding diversity. We’ve also come a long way toward gender equality, as opposed to many other countries. When travelling, it can sometimes slip one’s mind that our choice of apparel or how we carry ourselves in our own country may not be appropriate in others.

If your business trip is to a far-off land with different customs and beliefs, I suggest you do a bit of research to see whether what you intend to pack would pass muster where you are going. In many places, women wearing low necklines or sporting bare shoulders and knees can be seen as offensive to locals. Whatever your stance on personal freedom, when travelling abroad, we have a responsibility to show respect for cultural differences.

3. The Life-Changing Magic of Tidying Your Luggage

Fun fact: the 80/20 rule that we apply in business also applies to our wardrobe. That’s right, we only wear 20% of what is hanging in our closets, and luggage is no different. Most people are chronic over-packers but if you stick to your favourite neutral professional outfits that are interchangeable with black or beige footwear, you will truly be amazed at how little you need to bring with you.

To make use of all the space in your carry-on, many savvy travellers use packing cubes  – magical nylon zip bags that you can fill with a staggering amount of stuff. These cubes will change your travel life, trust me. Just be sure to weigh your suitcase before you go to the airport to make sure it doesn’t exceed your airline’s weight restrictions.

4. Bleisure is the New Black

While the vast majority of business travel for North Americans is domestic, international business trips have been steadily on the rise since the 2008 economic downturn. Not surprisingly, people travelling for business abroad are extremely likely to tack on some vacation time to their international trip. In fact, Expedia Group reported that this was the case about 80% of the time last year for American business travellers.

Whether you are preparing for a trip near or far, know that adding some leisure time to your itinerary is worth considering, since Bleisure has become all the rage. For women travelling alone, this may sound daunting, but there are lots of ways to explore if you don’t feel comfortable going solo – join a walking tour, sign up for a local cooking class, or become a member of a global expat organization like InterNations , where there are a wide variety of group activities to choose from.

5. Don’t Spare the Self-Care

Women are well known for putting their time and health at the bottom of their priority list. Business trips only exacerbate this bad habit, so make sure you have a plan to fit self-care into your itinerary. The healthier and more well-rested you are, the more effective you will be in your work while on the road.

The major travel self-care items I see getting lost in transit for women are hydrating (with water not wine), eating a good breakfast and taking me-time. Bring a water bottle and use it regularly, make sure to eat a healthy breakfast and get as many greens in your meals as you possibly can. Although it can be fun to go out exploring in the evenings if you have the time, try to spend at least one night of your stay relaxing in quiet me-time.

Business trips can be exciting, intellectually stimulating and open up a wide world of opportunities. But not planning in advance can make them more stressful than they need to be. With these five travel hacks for women in business, you’ll be on the path to a calmer and more productive trip.

The post 5 Travel hacks for women in international business appeared first on Trade Ready.

What kind of networks are out there that can help a small business? Should I look for a mentor? Do I really need a website or social media to grow my business?

These are just some of the many questions that anyone trying to start or grow a business will face. Growing a business is tough. For good reason, the word ‘entrepreneur’ conjures up visions of long hours, sleepless nights, and risk. Understandably, not everyone may be ready for entrepreneurship.

For women who are starting, growing or running a business, you can add even more challenges to the mix. Access to financial capital, information, support and networks tend to be the primary barriers faced by women entrepreneurs.

Financing your business

When it comes to financing their business, studies show that women entrepreneurs are more likely to face obstacles in receiving traditional funding or venture capital and tend to receive less money.

Finance may be the single most important aspect that will affect the viability of running or growing your business. That’s why small business advisors strongly recommend that you boost your financial literacy. Take a course, do your research, inform yourself, ask for help and know when to call in the experts.

Beyond traditional financing, there are many more options than ever before, such as angel investors or crowdfunding, and new business investment funding models. Do your research and talk to people. Consider all the options that may be open to you.

If you’re planning for growth from going global with your business, consider this advice from global trade bankers:

1. A strong relationship with your bank and a good solid deal team that understands your business is key when navigating some more complex types of business growth, like going global. Laying the foundation of this relationship as early as possible will only help.
2. Most experts recommend making connections with your financial institution, and building a relationship, even if you aren’t quite ready to start. It’s so much better to build that relationship early. That way your banker can help you get ready for exporting and all that goes with it. Planning is so important when it comes to going global with your business.
3. Talk to your banker. They are connected with agencies such as Export Development Canada. Your banker can help you formulate your plan and test for readiness, explore payment options when dealing in different markets and provide you with risk mitigation tools.

How women can secure more access to resources such as mentoring, networking and skills building

Connect with people, ideas, initiatives and organizations you admire and want to work with in your local community and around the world. Find a mentor. Identify a role model and build a community around you.

Network through business associations, or become a member of a trade association like OWIT (Organization of Women in International Trade) and I.E. Canada (The Canadian Association of Importers and Exporters).  Membership in a global network like OWIT can help you develop contacts, educate yourself and keep up to date. Establishing connections with other women entrepreneurs opens doors to new networks, opportunities and learning.

Also consider taking on leadership roles in organizations that assist in both building your network and skills and providing resources such as experts to consult.

Follow entrepreneurs like Michele Romanow, Nicole Verkindt, or Vicki Saunders to get inspired and further develop your entrepreneurial mindset. If you’re circling around the idea of a new business venture but it’s not going anywhere, maybe you need to step back and get some perspective. To paraphrase Michele,  you need to start before you have all the answers or the perfect product. Don’t hide away until it’s perfect – either someone will get the idea out, or you miss out on collaborating. In other words, don’t second guess yourself into never starting. Start by taking any small action to get the ball rolling.

Take advantage of free tools like the business start-up checklist from Innovation, Science and Economic Development Canada. They offer lots of information, ranging from starting a business and financing, through to growing your business and also list a wide range of networks and business support organizations across Canada.

What’s encouraging is that there are numerous resources available to women-led businesses – and to make it easier we’ve put together a list to get you going.

Resources, advice and networks

Export Development Canada

Export Development Canada can provide knowledge, information and assistance with going global. They can help you take your business to new markets with financing, risk managing strategies, business advice and even connection opportunities.

Business Women in International Trade (BWIT)

The BWIT Program, which is part of the Trade Commissioner Service, provides products and services to help women entrepreneurs internationalize. They offer a variety of resources including publications, research and training opportunities. Best of all, BWIT’s services are FREE! Get help navigating the complexities of international markets regardless of the size of your business. Check out the step-by-step guide to exporting.

The BWIT website funding page lists resources specifically targeted to women-entrepreneurs looking to expand globally.

BWIT also offers a list of networks and associations for business women across Canada and world-wide.

Trade Commissioner Service (TCS)

The Trade Commissioner Service (TCS) helps companies navigate international markets. Canadian trade commissioners are located in more than 160 cities worldwide, and can provide you with key business insights and access to a network of international contacts.

The services of the TCS are free. They have hands-on knowledge that comes from helping thousands of companies each year tackle concrete problems and pursue opportunities in foreign markets.

Trade commissioners will help you evaluate your potential. They will discuss your competition, entry strategies and your company’s HR capacity. They will look at your capacity to fill large orders and manage long-term growth.

Trade commissioners will identify risks and challenges you might encounter. If you have a new opportunity in a challenging market, they will walk you through scenarios related to payment, taxation, visas and personal security.

Their website provides a wealth of information and resources, such as tips from experienced businesswomen, experienced women exporters, consultants, and trade officials. Want to start exporting today? Take this quiz and check your score – Export quiz: Are you ready?

You can also look into CanExport, a Government of Canada program providing direct financial assistance to small and medium-sized businesses (SMEs) registered in Canada that are seeking to develop new export opportunities and markets.

National and regional associations

Women’s Enterprise Organizations of Canada (WEOC) is a national network of entrepreneur support organizations that provide resources for women entrepreneurs.

CME-MEC – Canadian Manufacturers & Exporters is Canada’s largest trade and industry association, offering various resources to explore new market potential.

OWIT – the Organization of Women in International Trade is a global association for women in international trade and business with 2,000-plus members.

Consult your local chambers of commerce and regional organizations such as Alberta Women Entrepreneurs (AWE).

WEConnect Canada – network with other certified women business owners and the WEConnect Canada team.

The Forum for International Trade Training (FITT)

The Forum for International Trade Training (FITT) provides international business training, resources and professional certification to individuals and businesses.

Whether you’re looking to grow your business, invest in personal development for your employees, or meet your own personal career goals, the right training and certification can help you enhance your knowledge and credibility, stand out from the competition and take advantage of opportunities.

The post Practical advice and resources for women starting or growing a business appeared first on Trade Ready.

Despite a growing focus on women’s entrepreneurship, studies show that women-led businesses still face many challenges. In Canada, only 10% of high-growth firms are owned by women and about 8% of women-owned businesses export. The numbers tell the story, for example, research from PayPal Canada and Barraza & Associates, shows that women-owned businesses “earn $68,000 less on average, than men who run similar businesses.”

While there is a growing understanding that full and equal participation of women in the economy is good for everyone, there’s no doubt that it’s a complex issue on multiple fronts. What is clear however, is that the stakes are high: the implications are that “across all small businesses in Canada, bridging the gap in earnings of women and men entrepreneurs could unlock an additional $88.2 billion for the Canadian economy.”

We wanted to find out more about how women entrepreneurs can overcome the barriers to success and grow their business. We put this question to a panel of experts in a live #TradeElite Twitter chat and uncovered plenty of valuable insights from multiple viewpoints: bankers, women in business, lawyers, consultants and international business experts.

Moderator: Nicole Chevrier, Content Marketing Specialist with FITT (@FITTNews)

The Panelists:

Shannon Pestun (@shannonpestun), Director, Women’s Entrepreneurship at ATB Financial, based in Calgary, AB

Sara Haq (@HaqCast), Founder & Principal of SH International LLC, based in Washington, DC

Jennifer Diaz (@CBPAttorneyJen), Board Certified Customs & Int’l Trade Law Expert. Founder of Diaz Trade Law, President of OWIT International

Frida Owinga (@FridaOwinga), OWIT International Vice President of Chapter Development, and founder of Passion Profit, business breakthrough coaching for small and growing businesses, based in Nairobi, Kenya

Marcela Mandeville, CITP (@MsBrightIdea), Alberta Women Entrepreneurs (AWE), based in Alberta

Audrey Ross (@tresAudrey), international business expert, Orchard Custom Beauty, based in Toronto, ON

Miriam Lopez Arbour (@MiriamLopezArbo), Global Affairs Canada, based in Ottawa, Ontario

What is different about women-led business or women’s entrepreneurship vs the status quo – are there differences?

A1: Some of the differences in women-led companies: size (most are smaller companies), industry (highest representation of women-owned businesses are in accommodation, food services, professional services) and less likely to engage in international trade. #tradeelite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

International trade often involves hoping on a plane to go overseas. Does family and motherhood responsibilities keep women out of this business field? #TradeElite

— ONSCREENinterpreters (@WCInterpreting) November 15, 2018

Yes! Great point. Not all barriers are around capital. Entrepreneurs with exporting companies have heavier travel demands and schedules.This can make it difficult for women who, in addition to running a business are often are the CEOs of their households!

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

Women owned businesses are starting at nearly the same rate as men-owned but are not growing as quickly. In order to grow, access to capital, networks and international markets are needed but are still a challenge.

— Marcela Mandeville (@MsBrightIdea) November 15, 2018

A1 – Women, generally, strive for perfection (which is unrealistic). As a women entrepreneur, being meticulous, detail oriented, and a massive planner, this has helped me immensely in business. But, I’ve had to learn, “progress over perfection,” and make it happen. #TradeElite https://t.co/TydzprJ8eS

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

A1 women are as varied as cultures/institutions that support them. Each has own set of challenges/strengths & must learn to leverage them for success. Ability to build global relationships is a strength many women entrepreneurs have that can overcome many challenges #tradeelite

— Sara Haq (@HaqCast) November 15, 2018

A1In recent years the word business and entrepreneurship have been used interchangeably but I would say the main difference is the women entrepreneur is more about solving a specific felt need as opposed to starting a business out of what one to school for. #TradeElite

— Frida Owinga (@FridaOwinga) November 15, 2018

A1 ….uh and aren’t we part of the status quo? Women entrepreneurs have been critical to economies for centuries…even if we’re underrecognized as part of that status quo. #tradeelite

— Sara Haq (@HaqCast) November 15, 2018

A1. A lot of women get started because they have family responsibilities / emotional labour demands & working a 9 – 5 can be unrealistic. Finding a company with flex time can be a challenge #TradeElite

— audrey ross (@tresAudrey) November 15, 2018

A1 Women start businesses to create their own destiny and have more control over their life. #TradeElite @weggtoday

— Laurel Delaney (@LaurelDelaney) November 15, 2018

Only 10% of high-growth firms are owned by women. According to Victoria Lennox, Co-Founder and CEO, Startup Canada, women-led businesses have high-growth ambitions but systemic gender barriers encourage women-led businesses to stay small – would you agree and why?

Q2: Women have high-growth ambitions now more than ever but there are systemic and attitudinal forces at play that often prevent them from growing their companies. The primary barriers women entrepreneurs face are: access to financial capital, information & networks. #tradeelite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

Yes! Very hard to get finances from traditional models as entrepreneurial businesses often don’t meet the criteria. https://t.co/x7r0jHYXgu

— audrey ross (@tresAudrey) November 15, 2018

Q2: At the same time, growth & profit aren’t always the driver or motivator for women going into business. For some, it’s building a company that allows them to meet the holistic needs & wants of their lifestyles. For some sustainability over growth is a greater priority.

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

A2 Many women business owners have high growth ambitions and face challenges to getting the money, buyers, talent and support they need to fulfill their aspirations, especially if they are dong business in traditionally male-dominated sectors and markets #TradeElite

— Marcela Mandeville (@MsBrightIdea) November 15, 2018

A2 – Women contribute 10 TRILLION to the economy in unpaid care & domestic work – add that to running and growing a business. It takes a huge support system and confidence to take the leap. #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

#womenexporters represented only 11.1% of exporting SMEs in 2014 while 15.7% of all SMEs were women owned. The gap can partly be explained by firm size and prevailing industry. Access the report https://t.co/aUkerUNIZX #TradeElite @weoc @awe @TCS_SDC @CanadaTrade https://t.co/MyfJXIVxB6

— Miriam Lopez Arbour (@MiriamLopezArbo) November 15, 2018

A2 From where I sit as a Business Breakthrough Coach, I somewhat disagree coz what I have observed as the greatest barrier is the mindset of the business owner. How one thinks about their business & the end they have in mind plays a greater role in what they achieve. #TradeElite

— Frida Owinga (@FridaOwinga) November 15, 2018

Curious if you find any noticeable correlation in risk aversion based on gender / upbringing / education opportunities? (as an aside to the chat )#TradeElite

— audrey ross (@tresAudrey) November 15, 2018

There is definitely a co-relation because our beliefs are drawn from our experiences, education and exposure which varies form place to place. For instance I am more open to opportunities coz I had the rare chance to live abroad which has given me broader world view. #TradeElite

— Frida Owinga (@FridaOwinga) November 15, 2018

For sure, you can see that people who travel or who have connections outside of their own family / cultural unit generally see & take on very different opportunities.

— audrey ross (@tresAudrey) November 15, 2018

A2 I don’t like to get lost in statistics. If you want to build a business as any kind of entrepreneur (m/f/x) you must learn to get around ANY barriers that hit you. But yes there is some truth to that. I like getting powerful men & women to support which helps a lot #TradeElite https://t.co/o6qD0iyuhc

— Sara Haq (@HaqCast) November 15, 2018

It does take a village. Having the right people in your corner to help you grow is a huge portion. #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

A2 Women can grow as big as their thoughts.There are no systematic barriers. As women we need more confidence, tools, resources, access to mentors (like here), networks, links to capital and more risk-taking tendencies. With all that, we can grow global @weggtoday #TradeElite

— Laurel Delaney (@LaurelDelaney) November 15, 2018

What resources are available for women who might be wondering if exporting is a viable option? Where should they start?

A3 @TCS_SDC, @WEOCanada partners across Canada including @AWEbusiness, Chambers of Commerce, @ExportDevCanada, @cme_mec offer various resources to explore new market potential #TradeElite

— Marcela Mandeville (@MsBrightIdea) November 15, 2018

.@OWITintl has great resources as well

— Marcela Mandeville (@MsBrightIdea) November 15, 2018

A3 Starting places can include chambers of commerce, ministry of international trade export councils (depending on a country’s structure) embassies of countries one wants to export to can also be helpful. https://t.co/KiV76OKrA2 is also a great info platform #TradeElite

— Frida Owinga (@FridaOwinga) November 15, 2018

Q3: Talk to your banker. They are connected with agencies such as @ExportDevCanada. Your banker can help you formulate your plan and test for readiness, explore payment options when dealing in different markets and provide you with risk mitigation tools. #TradeElite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

Shannon, would you recommend making connections with your financial institution, building a relationship there even if you aren’t exporting now, but for later? #TradeElite

— audrey ross (@tresAudrey) November 15, 2018

Yes! It’s so much better to build that relationship early. That way your banker can help you get ready for exporting and all that goes with it. Planning is so important when it comes to going #global with your business. Great question, @tresAudrey

— A Girl’s Biz Banker (@shannonpestun) November 16, 2018

Absolutely! A strong relationship with your bank and a good solid deal team that understands your business is key to helping navigate needs that may be more complex than your local business needs; laying the foundation as early as possible will only help.#TradeElite

— Stacey Gordon (@StaceyCGordon) November 16, 2018

Q3: One of the biggest questions women ask is: How do i know if I’m ready to export? This quiz might help: https://t.co/oaMJ3XqMYz #TradeElite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

A3-At @OWITIntl we have various trainings & amazing partners like @FITTNews, @WEGG @EximBankUS @GroYourBiz and many others (listed here: https://t.co/XH8sSqG0ed). We have terrific webinars & experts available to assist with exporting (available in our member directory)#TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

#BWIT can help Canadian women owned biz navigate the complexities of international markets regardless of your size. If you are starting out check out the step-by-step guide to exporting https://t.co/1iFTzHYg1n @TCS_SDC @CanadaTrade #TradeElite https://t.co/KSEmqOHDFb https://t.co/ADVw931C6O

— Miriam Lopez Arbour (@MiriamLopezArbo) November 15, 2018

A3 – Also… Consider exporting to the U.S. market! At @DiazTradeLaw we provide numerous trainings and tutorials on tips to be ready for the U.S. market and offer a FREE “Top 10 Tips When Importing” cheat sheet at my home page https://t.co/lVq4hES2iI #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

A3 Start by taking ANY small action to start the snowball growing. Check out https://t.co/QHY0KrM7PZ. Reach out to awesome women on LI (@tresAudrey, @LeahGlobal, @weggtoday). Take our free intro to Multinational Entrepreneurship https://t.co/6I3MyklAjc #tradeelite https://t.co/jqJanRqOio

— Sara Haq (@HaqCast) November 15, 2018

A3: You have proven success locally and now desire to bust a border with your service or product offering. It’s that simple. @weggtoday #TradeElite

— Laurel Delaney (@LaurelDelaney) November 15, 2018

A3. Modelling & Mentorship are a factor – if you aren’t seeing other companies exporting successfully you are more likely to hesitate to export. #tradeelite

— audrey ross (@tresAudrey) November 15, 2018

A3. Could be knowledge or time or desire. In Canada a LOT of companies aren’t reaching their export / growth potential. Some still don’t even have websites or online sale options. Start with: @ExportDevCanada @OWITintl @USTradeRep @TradeHelpdesk #tradeelite

— audrey ross (@tresAudrey) November 15, 2018

Let’s talk about accessing capital: In an interview with Forbes, Vicki Saunders said that less than 4% of venture capital goes to women and that it doesn’t seem to be changing and could be getting worse – would you agree? And why?

A4 The stats aren’t pretty. But consider that venture capital isn’t the best way to grow many multinational ventures. Read more here (https://t.co/xSeoRSemtz). Many women value their time and flexibility- another reason VC might not be THEIR cup of tea #tradeelite https://t.co/XrOnRwPelF

— Sara Haq (@HaqCast) November 15, 2018

Check out CanExport – a GoC multi-year prog providing direct financial assistance to small and medium-sized businesses (SMEs) registered in Canada that are seeking to develop new export opportunities and markets @TCS_SDC @CanadaTrade #TradeElite info bwit@international.gc.ca

— Miriam Lopez Arbour (@MiriamLopezArbo) November 15, 2018

Each country will something for you, & gov’t programs have to help & have to distribute the money they have been given. They struggle w/ connecting. Part of networking has to be w/ local city Councillor, provincial / state rep as they need you too! #TradeElite https://t.co/WOorArDm3t

— audrey ross (@tresAudrey) November 15, 2018

Q4: The gender investment gap is real, and some reports are indicating it’s widening further. When it comes to supporting women entrepreneurs, the VC system isn’t effective. New models are needed. #TradeElite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

Q4: The biggest contributors to this is the gender disparity in VCs firm, unconscious bias among investors, & the reality that investors are looking for fast growth, not long-term value creation which is often at odds with a women’s goals & motivation for business. #Tradeelite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

Q4: In addition, Venture Capital is most commonly used in the tech sector, which doesn’t represent the sectors where the majority of women-led startups are prevalent. #TradeElite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

A4. Funding is hard for any business, Banks want reliablilty, “a proven track record” & most Micros don’t have that. VC’s have their own demands. Financing is a big hurdle & it forces you to get creative. #tradeelite

— audrey ross (@tresAudrey) November 15, 2018

A4: it’s not a case of agreeing or disagreeing, it’s getting on with the fact of doing whatever you can to grow. Be proactive, focus on your goal and do something extraordinary. When you go beyond, people will notice and offer support. #TradeElite

— Laurel Delaney (@LaurelDelaney) November 15, 2018

A4 Diversity in VC investors influences the decisions on where capital flows. There area few VC investments led by and focused on women. Any model to effectively support women-owned businesses should include people who represent diverse perspectives. #TradeElite

— Marcela Mandeville (@MsBrightIdea) November 15, 2018

What about more traditional financing? Women entrepreneurs are less likely to seek debt and equity financing and are more likely to be rejected or receive less money. What might be driving that?

Q5: Studies would show this to be true. We need to keep focused on creating banking experiences that better serve the needs of women entrepreneurs – increasing access to capital, info and networks.

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

A5 – @WorldBank counted 104 countries with laws that prevent women from working certain jobs & in 15 of these countries a husband can object! Before 1975 a married woman couldn’t get her own credit card without permission! Even today, we still have a ways to go! #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

Q5: women entrepreneurs may be adverse to risking relationships for perceived self gain. Taking on debt = paying it back no matter what, a risk to family. Taking on equity means risking not paying back investors. Investors also need to be taught there is a strong ROI #tradeelite https://t.co/XXbgZyubQa

— Sara Haq (@HaqCast) November 15, 2018

A5 Check out the #BWIT website funding page https://t.co/MIlwb8XQiQ. Full of resources specifically targeted to women-entrepreneurs looking to expand globally. DYK #BWIT services are free? Check our partners @weoc #TradeElite @TCS_SDC @CanadaTrade

— Miriam Lopez Arbour (@MiriamLopezArbo) November 15, 2018

A5 From my context women start businesses with a relatively “narrow” end in mind – meet family obligations and enhance family lifestyle. So the amounts of money don’t call for equity financing. Again decisions driven by the woman’s vision and beliefs. #TradeElite

— Frida Owinga (@FridaOwinga) November 15, 2018

A5: risk adverse. Although external financing might be needed at some point, Women are reluctant to ASK for it. Banks are willing to finance women enterprises, the women need to go after it.

— Laurel Delaney (@LaurelDelaney) November 15, 2018

Yes – so true!!! A lot of people are discouraged by the first “no”. It shuts them down – but you have to keep asking, or ask different people, or ask a different way. You have to champion your idea / service. If you don’t fight for it, who will? #TradeElite https://t.co/ThmhMVsUra

— audrey ross (@tresAudrey) November 15, 2018

Beyond financing, one of the barriers seems to be confidence – do you think this is accurate?

A6 Strategic risk assessment and planning can be mistaken for a lack of confidence instead of appreciating how these entrepreneurs are looking for opportunities, understanding what the business needs, and connecting and making the most of resources and strengths. #tradeelite

— Marcela Mandeville (@MsBrightIdea) November 15, 2018

A6 I say a BIG yes women tend to suffer more with self esteem issues causing them to feel not good enough and therefore undeserving causing them not to reach out for more. #TradeElite

— Frida Owinga (@FridaOwinga) November 15, 2018

Q6: It’s not that women aren’t confident – As a generality, women aren’t satisfied with a good decision, they want a perfect one and that can make the decision making process longer which sometimes gets mistaken as a confidence issue. #TradeElite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

Best line I ever learned was “progress over perfection” by #PaulaBlack After hearing this I finally pulled the trigger and opened up my own law firm. If we wait for perfection, we’ll keep missing the boat! #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

I love that – thanks for sharing. And congrats for taking the leap!

— A Girl’s Biz Banker (@shannonpestun) November 16, 2018

Entrepreneur @MicheleRomanow has great advice (paraphrasing) – you need to start before you have all the answers or the perfect product. Hide away until it’s perfect – either someone already gets the idea out, or you miss out on collaborating. #TradeElite https://t.co/OR55vbIZU3

— audrey ross (@tresAudrey) November 15, 2018

A6 – 1/2 – Love this article on confidence – “One simple tactic is for workplaces to normalize the practice of self-promotion, so that when women talk about their achievements, they are less likely to face the well-documented backlash. #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

A6 – 2/2 – Start each meeting by asking everyone to share one thing they’ve achieved since you last met…” https://t.co/uhyTsvIjL3 #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

A6 Participate in #BWIT trade missions reach out to #weoc women orgs and network with like-minded business women. There are lots of resources available to help boost your growth plans. We are here to help @TCS_SDC @CanadaTrade @ExportDevCanada @EntrepreneursQC #TradeElite https://t.co/5tOYE945Hn

— Miriam Lopez Arbour (@MiriamLopezArbo) November 15, 2018

A6: confidence counts. You have to get out of your comfort zone or else you won’t learn and grow global. We @weggtoday are covering this 12/5. Anyone can join for free: https://t.co/9PReaCw0kb #TradeElite

— Laurel Delaney (@LaurelDelaney) November 15, 2018

How can women secure more access to resources such as mentoring, networking and skills building?

A7 Connect with people, ideas, initiatives and organizations you admire and want to work with in your local community and around the world. #tradelite

— Marcela Mandeville (@MsBrightIdea) November 15, 2018

A7 When the student is ready the teacher will show up. Having a desire, doing research on what is available that aligns with what one wants to achieve is critical. I often say when one is struggling its a sign support is lacking, and its time to get help! #TradeElite

— Frida Owinga (@FridaOwinga) November 15, 2018

Q7: Find a mentor. Identify a role model and build a community around you. Establishing connections with other women entrepreneurs open doors to networks, opportunities and learning. #TradeElite

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

A7 Connect with #womenbiz @weoc women associations, chambers of commerce, trade events. Attend #BWIT trade missions. Here are helpful organizations @ReseauRFAQ @AWEbusiness @nlowe @WESK306 @businesswomenbc #TradeElite @TCS_SDC @CanadaTrade

— Miriam Lopez Arbour (@MiriamLopezArbo) November 15, 2018

A7 – Join (&more importantly, take on leadership roles in) amazing organizations that assist in both building your network/skills & provide experts to ask questions of. There are so many amazing ones @OWITIntl, @WEConnection , @weggtoday, @GroYourBiz, @NCBFAA #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

Speaking of this @OWITintl actually needs volunteers for programming, social media, chapter support, and website/IT. Want to help a premier networking org that has experts in international trade? Contact president@owit.org today! #TradeElite #WomeninTrade #Volunteer

— Jen Diaz (@CBPAttorneyJen) November 17, 2018

A7: Proactively offer something of value to every person you want to do business with. Even your mentors need your return support and greatly appreciate it. Find communities of like minded professionals and hang out over the long run #tradeelite https://t.co/3bgEojTSdE

— Sara Haq (@HaqCast) November 15, 2018

For specifically women groups: I love the @MiraJoleigh #Ambitionista group, the @ChampagneDiet #SlayBaby group. For the trade community as a whole – the @FITTNews #TradeElite. https://t.co/nmytTh19Vd

— audrey ross (@tresAudrey) November 15, 2018

Couldnt agree more. Getting your network together – of people that push you to succeed, and consistently grow … it’s essential!!! #TradeElite

— Jen Diaz (@CBPAttorneyJen) November 15, 2018

Have a can-do attitude and the confidence to just go for it. Let’s never forget that. That will get you global @weggtoday #TradeElite

— Laurel Delaney (@LaurelDelaney) November 15, 2018

Closing remark: thank for the honor to be among such a prestigious group of experts. Remember, if you take away women consumers, buying power and production power of female entrepreneurs, economies of the world would collapse! #tradeelite

— Laurel Delaney (@LaurelDelaney) November 15, 2018

Great chatting. Thanks everyone!

— A Girl’s Biz Banker (@shannonpestun) November 15, 2018

Read the rest of the chat and join future discussions by following the #TradeElite hashtag. And stay tuned for the next #TradeElite chat, coming up Thursday, January 24th at 2:30-3:30 PM ET, and if you haven’t yet, join us on Twitter at @FITTNews.

The post How women-led business can overcome the barriers to going global 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.

While great strides have been made worldwide in leveling the playing field and making business more accessible and inclusive to people of all genders, ethnicities, and walks of life, some major challenges remain.

In honour of International Women’s Day, here are five inspiring stories to highlight some of the remarkable women who tackle these challenges head on and have shared their wisdom and experiences with us.

1. How women in international trade can overcome cultural obstacles to succeed in any global market

On the surface, this topic may seem obsolete. Is it still even necessary to prepare women for a separate set of business culture rules than their male counterparts? Women have risen to the top of fields like science, politics and business in countries all around the globe.

Yet, unfortunately international business dealings still often present additional challenges for women. That doesn’t mean that we ladies can’t come prepared to deal with anything that comes our way. Here are a few things to keep in mind to overcome the unique challenges women face in some international markets.

2. From landed immigrant to entrepreneur and community leader – this is Pernille Fischer Boulter’s inspiring story

Over the past 25 years Pernille has worked on projects in over 90 countries and six continents in over 25 sectors, and founded her own successful consulting company. But, like many of her fellow immigrants, Pernille had left a successful professional career, credible achievements and a strong financial record behind, and had to start all over – she was even forced to retake her driver’s test.

This is her inspiring story of overcoming the challenges she faced due to her gender, cultural background, and the competitive nature of international business to become the ultimate success story.

3. What are the opportunities, challenges and issues women face in the global value chain?

Two years ago we were inspired to host a Twitter chat dedicated to the issues women face in all stages of business worldwide. To do that we rounded up some of the most influential voices we could find who are not only experts on the topic, but who deal with women’s issues, working to improve their lives daily.

It was an ambitious topic to challenge in our monthly #TradeElite Twitter chat (limited at the time to 140 characters or less!) and we were thrilled with the insightful responses we received from women business leaders around the world. Here’s a recap of that important and still relevant discussion.

4. Inspirational story from Iraq on overcoming barriers to a global trade career

Each day, Samar Raad Mezaal deals with the social upset and terrorist attacks that take place in Baghdad, the city she calls home. It’s humbling and inspiring that anyone can create a sense of normalcy for themselves through all of this, but Samar simply refuses to let these obstacles get in the way of her goals and success. Here’s her story.

5. Trade liberalization has a unique effect on women in global business

The goal of gender equality in today’s “progressive” trade policy  is to anticipate the unequal impact of trade policy and trade commitments across gender – to minimize the negative consequences and maximize positive outcomes.

Collecting and analyzing data from a gender perspective will help us find out if where are ways in which men or women will be disproportionately affected, positively or negatively, by proposed policies and their implementation and mitigate the effects to even the playing field for people of all walks of life. Here are some of the things being looked at.

Have you faced any challenges in international business because of your gender? Add your stories in the comments below.

The post 5 stories to inspire women in international business appeared first on Trade Ready.

There are two established pathways to enter global markets:

1. As a supplier to large global companies; and
2. Through the use of innovation and technology to create a unique market or platform for entry into foreign markets.

Either pathway has its own special challenges for women.

Women entrepreneurs often have limited access to resources, especially to financing. This impedes their ability to scale up to meet increased demand, to properly market products or services, and to grow their businesses. In the U.S., for example, women-owned businesses are smaller across most sectors.

Women may also find it more difficult to tap into those informal networks that develop while socializing during lunch or after work. This is why we have been creating our own women-focused referral and support networks. The Organization of Women in International Trade (OWIT) and similar groups play a huge role in this regard.

When I travel overseas, I’m particularly aware of my physical vulnerability as a woman. As a result, I often sit in my hotel room when I’m not in meetings – unless I can connect with someone safely.

If I’m traveling to a country with an OWIT chapter or virtual member, I can use the network for business referrals and to make the social connections that make me feel safer getting outside of my hotel room for drinks or dinner.

Women face barriers in both emerging economies and developed economies

Women entrepreneurs in emerging economies may face legal, social, and cultural barriers with which women in more developed economies no longer have to contend. In some countries, women still do not have a legal right of ownership of the means of production.

A 2013 study by the Inter-American Development Bank’s Multilateral Investment Fund ranked the best and worst Latin American and Caribbean countries for women entrepreneurs. The rankings were based on risks to and support for women entrepreneurs in these countries. I placed these risk/support factors into three categories:

1. Societal conditions, as manifested in the overall strength of the economy and the degree of political stability, good governance, and absence of corruption.
2. Extent of support for micro and small entrepreneurs (MSMEs), which is how the majority of women entrepreneurs in the region (and most emerging countries) are classified. Is there access to credit, technology and technical support? Does the legal structure recognize and support MSMEs, for example, through minimal barriers to start a business or favourable tax policies?
3. Support for women in business, measured through such factors as the availability of business support organizations and child support/elder care services, the extent of crime and security risks, and the levels of female enrolment in vocational programs.

These barriers are not specific to doing business internationally, but compound the challenges we mentioned above.

A significant number of women in emerging countries are involved in “informal” cross-border trade. For example, the average annual value of informal cross-border trade in the 15 countries of the Southern African Development Community (SADC) is estimated at US$ 17.6 billion.  Seventy percent of SADC cross-border traders are women. “Informal” traders procure or supply goods across borders and sell them on the streets or, when provided, in markets (rather than stores). These traders receive even less recognition and support from the formal economy.

Women in India wait 37% longer on average than men to see the same customs official. In East Africa, women involved in cross-border trade are forced to pay larger bribes than their male counterparts, or to provide sexual favors to border officials who detain them or confiscate their goods.

Banks rarely cater to their needs and they have limited access to formal credit. They may operate in unsafe environments that lack such basic facilities as proper lighting, adequate bathroom facilities, or proper storage for their goods.

Given the right conditions and support, why shouldn’t some of these women traders be able to set up storefronts in the countries in which they currently operate?

Richard Sears was a railroad station agent when he began selling watches to other station agents on the side. From his profits, he began the R.W. Sears Watch Company in 1886. Today, Sears & Roebuck is a major American retail operation with divisions in Canada and Mexico. His story is a great example of how a small business can grow exponentially by entering national and international markets.

Women entrepreneurs in developed economies tend to be less internationally oriented than their counterparts in emerging, less-developed economies. These women are more prone to focus on their large domestic market. In the United States, for example, only about 7% of women entrepreneurs are involved in international trade. Meanwhile, the average receipts for U.S. women-owned exporting firms were $14.5 million, whereas the average receipts for women-owned non-exporting firms were only $117,036.

It’s also important to realize that it is no longer possible to ignore global markets. This is where a company may find not only its next customer, but its next competitor.

Progress is being made slowly but surely

Companies have begun to value women-owned businesses (WOBs) as suppliers and are seeking them out – this is the best example of progress to date. Large global companies are establishing their own supplier diversity programs with the goal of integrating WOBs. The current challenge being addressed is how to make the connection between these companies and WOBs.

To address that challenge, the emerging model works to connect women entrepreneurs directly to global companies and their supply chains.

WEConnect International, for example, recruits women-owned businesses to join as members in the countries where they operate (outside of the U.S.). They then provide training and certification to groom them as certified suppliers to the corporate members who are part of the WEConnect network.

SheTrades has also been developed by the International Trade Centre as a web-based application to make WOBs visible to global buyers and to each other. Both models are still works in progress but provide key opportunities, particularly to small companies.

The post Female entrepreneurs face their own challenges in global trade – but it’s not all bad news appeared first on Trade Ready.

Laura Dorling van der Oord, CITP|FIBP, is an Advisor on the Board of Directors for the World Bank Group representing the Office of the Executive Director for Canada, Ireland and the Caribbean.

Over the course of her career, she has consistently applied her talents to engaging the private sector in international development and to opening up new export opportunities for businesses.

“I’m very committed to harnessing the benefits of trade and investment to support sustainable development, poverty reduction, and long-term socio-economic growth, both in Canada and in developing countries,” she says.

As the chair of FITT’s Certification and Accreditation Committee (CAC), we’ve also benefitted from her experience and leadership, and look forward to working with her in that capacity for many years to come.

The drive to make a difference in people’s lives

Laura grew up in the Niagara region of Ontario, close to the U.S. border, which fostered an early interest in international trade and its importance to Canada’s economy, as well as the quality of life for many Canadians.

She elaborates by explaining that, “From an early age, I always wanted to work internationally. I enjoy making connections across cultures and seeking solutions to address some of the world’s most pressing social and economic challenges.”

Originally, she planned to channel that interest in running a non-profit organization focused on international development. She travelled to Costa Rica with the Youth Challenge International volunteer program to learn more.

While completing her Bachelor of Commerce with Honours at the University of Ottawa, she switched gears. She decided that the private sector also plays a critical role to foster sustainable development and improve socio-economic conditions around the world.

After graduating, Laura took a position as an Export Consultant with Ontario Exports Inc., part of the Ontario Ministry of Economic Development and Trade, and learned a lot during her time there.

Working as an Export Consultant opened my eyes to the importance of international trade in the global economy and the value of Canadian competitiveness.

In 2001, Laura moved to Mexico to complete a Master’s degree in e-commerce, and at the end of her program she received an offer she couldn’t turn down.

The offer was from DFAIT (now Global Affairs Canada) for the role of a Trade Commissioner and team leader of  the International Financing division for Latin America and the Caribbean.

By 2004, Laura had earned herself a promotion to another new role: Senior Counsellor for the Canadian Executive Director’s Office at the Inter-American Development Bank in Washington, DC.

“This was a dream job since I was able to help bridge the role of the private sector with development through targeted investments in Latin America and the Caribbean.”

The role entailed robust responsibilities including the review and approval of private and public sector loans across a wide range of sectors, the negotiation of new procurement policies and procedures, and the development of innovative funds to incentivize increased investment in priority areas such as trade facilitation, sustainable energy, climate change, and debt relief initiatives.

She also partnered with the World Bank to establish the Canadian Private Sector Liaison Network, the first of its kind at the Inter-American Development Bank.

A dedication to continuous learning and international trade training

Laura began taking FITTskills courses in-class in 2002 in order to continue to develop her international trade knowledge and talents. In 2005, Laura completed her FITT Diploma.

FITTskills courses were a very useful way to study the essentials of international trade and complemented my undergraduate degree in commerce and international management. They helped me to further develop my skill set in a very practical way.

Laura wanted to share her international trade expertise with others, so she successfully applied to become an elite Certified International Trade Professional (CITP®|FIBP®). She has found it to be a valuable way to connect with her colleagues and validate her experience.

“I was very excited to earn the CITP®|FIBP® designation. It provides the opportunity to meet and learn from a tremendous network of trade practitioners with very diverse backgrounds and areas of specialization.”

The certification demonstrates trade expertise in a very tangible way and has helped fulfill my commitment to lifelong learning.

“I remain committed to the promotion of the CITP®|FIBP® designation and continue to be actively engaged with FITT as Chair of FITT’s Certification and Accreditation Committee which reviews applications and activities that lead to the awarding and maintenance of the professional designation.”

She continues to seek out opportunities to broaden her skill set in new areas.

Managing risk and developing innovative tools to address complex global challenges

In 2008, she pursued the opportunity to work in a specialized field that addresses one of the world’s greatest challenges.

She began working with the operational teams of the World Bank Group as a Senior Disaster Risk Management Specialist to help improve emergency lending available to developing countries when struck by disaster.

This initial work led to a role with the Global Facility for Disaster Reduction and Recovery (GFDRR) as a Senior Governance Specialist where she worked closely with donors and partners to prioritize increased investment in risk mitigation tools and comprehensive disaster risk management to reduce human and economic losses.

She initially focused her efforts on the Caribbean and Latin America, and she later supported activities in Asia and Africa.

As a member of the World Bank’s rapid response team, I helped to coordinate the post-disaster needs assessment and the initial donors’ meeting to support recovery efforts in Haiti after the devastating earthquakes in 2010.

“I also organized a donors’ visit to Vietnam to promote the importance of disaster reduction and recovery efforts in flood prone areas that happened to be hit by floods at the time.”

“With the GFDRR, I also arranged a donors’ meeting in Sweden that resulted in the announcement of significant financial contributions to support programming for disaster risk management.”

In 2012, Laura returned to her role on the Board of Directors as an Advisor, this time at the World Bank Group, in the Office of the Executive Director for Canada, Ireland, and the Caribbean.

This position entails careful review of both public and private sector investments in developing countries and frontier markets, with billions of dollars approved yearly to reduce poverty and improve socio-economic conditions.

Connecting Canadian companies with global opportunities

A significant part of Laura’s career has involved the promotion of increased engagement of the private sector to support various aspects of socio-economic development.

Multilateral development banks, such as the World Bank Group, make important investments in priority sectors, many of which require qualified firms and individuals to implement these projects and programs.

She is constantly finding ways to better engage Canadian firms and consultants in these projects in innovative ways.

An example of this was the opportunity she identified for the World Bank Group to partner in the Canada-Africa Business Summit, hosted in Toronto, where she led the organization and delivery of the World Bank Group’s participation.

“By promoting opportunities for Canadian expertise in the energy sector in Africa, this helps to implement much needed energy projects that improve economic opportunities across the African continent, while also advancing Canadian trade and investment interests. It is a win-win approach to improve lives in many countries in the region through increased energy access and energy efficiency.”

Some other examples throughout her career include similar efforts to promote Canada’s expertise and experience with public-private partnerships, and the development of new funding mechanisms. These include the Sustainable Energy and Climate Change Initiative at the Inter-American Development Bank, and the recent creation of the Global Infrastructure Facility at the World Bank.

Laura is proud to represent Canada and promote Canadian values on the international stage. From a young age, she helped to organize and lead provincial and federal trade missions to Asia, Latin America, Africa, and Europe.

She was also one of the initial Corporate Social Responsibility leads for the Government of Canada, and enjoys lending a Canadian perspective to her work at the World Bank Group.

She has also worked as an independent consultant and successfully created a consulting firm dedicated to helping companies gain market share and overcome challenges in global markets.

This experience has allowed her to personally understand the needs of small and medium sized enterprises, and the interests of consultants as they pursue work internationally.

Blazing a trail for women in finance and international trade

Laura is extremely grateful for mentors and inspiring leaders who have proven there is a role for women in finance and international trade.  She considers mentorship a fundamental pillar throughout her career and professional development.

I’ve learned a lot from other trailblazers who helped open doors before me and I am committed to helping others on their path to ensure women increasingly have a seat at the table.

“There have been times that I’ve promoted trade and investment opportunities as the only woman in meetings with foreign delegations. For instance, I organized the first virtual trade mission between companies in Ontario and Jalisco (a Mexican state) to advance trade in the automotive sector, which included site visits where no woman had ventured before.”

She is encouraged to see this dynamic shifting and believes Canada has a unique opportunity to demonstrate the value of gender equality at home and abroad.

When asked what new professionals in the industry should know, she advised them to always think of unconventional ways to handle problems and find solutions, regardless of the sector and regardless of how difficult the challenges may seem.

“When there is a will, there is a way.”

“It’s important to challenge traditional ways of doing business to create new opportunities for trade and investment. Have the courage to try new things and explore your passion, even if that means you have to develop innovative solutions or do things that haven’t been done before. Going forward, it will be essential to think more broadly beyond trade to include investment, innovation, and entrepreneurship given the interconnectedness in global markets.”

With so much success already in her career, it will be exciting to see Laura continue to follow these tenets and find new ways to build global growth and long-term sustainable development.

She resides with her husband and two young children in Bethesda, Maryland.

The post Laura Dorling van der Oord, CITP|FIBP – Advisor on the Board of Directors, World Bank Group appeared first on Trade Ready.