Encouraging Global Expansion for SMBs

Hello,

As we approach 2024, I’d like to express gratitude for the businesses that are driving our economy forward. You are the job creators, the service providers, and the future builders that we need to build prosperity across Canada. The impact you have is immeasurable, and I am proud to live in a country that embraces an entrepreneurial spirit. 

Looking forward, I want to encourage you to think about your business goals globally, not just locally. Regardless of where you are in your business journey, selling across the globe is not only within reach, but also the best way to grow. Exporting companies not only more money due to access to larger markets and populations but they also experience faster growth. By diversifying into multiple markets, exporting companies can also weather economic ups and downs more effectively, avoiding vulnerability associated with a single market focus. Moreover, exposure to different ways of doing business makes exporters more innovative by consistent exposure to new technologies and processes that enhance efficiency and relevance. There are also many advantages that only Canadian companies can take advantage of when exporting. For instance, Canadian companies enjoy access to larger markets compared to other countries. With free trade access to 51 countries, including the entire G7 and European Union, Canada’s 15 free trade agreements significantly expand global trade opportunities. With coverage of approximately two-thirds of the world’s GDP, these agreements grant access to over 1.5 billion consumers globally, which far exceeds our Canadian population of over 40 million.

Within the coming year I hope to see more Canadian companies looking beyond our local communities to expand to new places. I strongly believe all companies should be making the most of Canada’s trade advantages, and I would encourage businesses of all sizes to think globally within the upcoming year. On behalf of our team at Edmonton Global, I’d like to wish you a fantastic 2024 filled with growth, new connections, and hopefully newfound global success.

All the best

Malcolm Bruce

CEO, Edmonton Global

Malcolm Bruce is a visionary executive with a progressive career in leadership and the first CEO of Edmonton Global, the regional investment attraction and trade company representing 14 municipalities that make up the Edmonton Metropolitan Region. By drawing on his proven ability as a strategic planner and team builder, Malcolm is promoting the Edmonton region as the business location of choice for global investment. Malcolm brings a 30-year military career with an extensive background in strategic planning, organizational change, financial management, issues management, and stakeholder engagement.