As international risk experts, EDC helps Canadian companies navigate, manage and take on risk to support their growth beyond Canada’s borders.
You may not be thinking about exporting just yet, but you should consider tackling a new market one day, here are five things to remember:
Think globally from the start. A good place to start is the name of your brand. Is it used elsewhere? If so, you might want to change it or tweak it so that when you are ready to export, it won’t be a problem. Also, think about incorporating your business early on in order to access grants that might help you expand slowly but surely.
Have an export plan. Success doesn’t happen overnight, but if a big opportunity comes knocking, you’ll want to be prepared. Financial support may be needed to ensure that your company has the capabilities to meet the demand. They are many great programs out there to help businesses take full advantage of new opportunities, such as the trade accelerator program, with cohorts for diverse businesses, including women- and Indigenous-owned businesses.
Pick a market. With the United States so close, many Canadian companies make it their natural market. What is surprising is that some of these companies don’t see it as “exporting” but only as “selling.” There are many different regional markets within the US that might be interesting for your company. Growing one small market at a time is what we call a long-game export plan, allowing you to take full opportunities of many markets along the way.
Ask the experts. Have an Advisory Board. Surround yourself with experts that can give you advice. Companies that are exporting can share their experience and show you how not to make the same mistakes they did.
Take advantage of existing programs and networks. EDC has documentation listing the various programs available to SMEs and a dedicated team ready to help, guide and support you.
Julie Pottier
Senior Vice-President, Small Business, Commercial Markets and Partnerships, Export Development Canada
Appointed Senior Vice-President, Small Business, Partnerships and Head of Insurance, in March 2021, Julie Pottier’s mandate is at the core of how EDC serves Canadian companies as they grow their business internationally. From identifying opportunities to better meet the needs of customers for Micro/Small business portfolio of Canadian exporters, her responsibilities also include elevating awareness of EDC by engaging with customers, banks and partners to facilitate trade-related business opportunities. The Small Business, and Partnerships team has played a vital role in supporting our customers and partners throughout the COVID-19 pandemic and is committed to continuing to support while Canada is on the journey towards economic recovery.
