Not just USA's neighbour - consider Canada!
Elaine Gold BA(Hons) MBA, FRSA
Helping Clients Build Scalable & Profitable Businesses | Business Coach | WIBN Franchisee London Central & South | Brand Affiliate in Health & Wellbeing | Co-Founder, GEN UK | Independent Global Partner
We have talked recently about doing business in the US, and the advantages of expanding into markets which have a common language. Last Friday, as part of our 'Exporting 101' series of webinars, we had a presentation from Cheryl Lockhart on doing business in Canada. Here are a few of the highlights:
1. Canada: A Land of Diversity
Similar to the USA, Canada is a vast country with ten provinces and three territories, each with its unique characteristics and opportunities. The cultural differences between the eastern and western regions, and the distinctiveness of Quebec, make it essential for businesses to approach each province individually.
2. Shared Culture with the UK
Canada and the UK share historical ties, and this has influenced their business relationships. With a shared language and historical connections, Canada is the 14th largest UK export market. Many British companies have successfully been doing business in Canada, making it a welcoming market for foreign companies.
3. Why Consider Canada?
Several factors make Canada an attractive destination for businesses:
4. What to Consider as an SME
For small and mid-sized enterprises (SMEs), working with similar-sized businesses often yields better results. Partnering with Canadian SMEs opens doors to easier access to decision-makers and a willingness to explore innovative products and services.
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5. The Changing Labour Market
Canada's labour market is experiencing unique challenges, with skill shortages in various industries. Companies are seeking innovative solutions like outsourcing, partnering, or investing in employee training to tackle this issue.
6. A Focus on Innovation
Amid climate change concerns and evolving consumer habits, companies in Canada are shifting towards greener practices and exploring new technologies. This opens up opportunities for companies with innovative solutions in sustainability and digital transformation.
7. Testing the Waters
Rapid market access and testing are key to success in Canada. Engaging with potential distributors, joint venture partners, or customers allows businesses to understand the market better and explore collaboration possibilities.
8. The Big Picture
Whilst Canada may not always be at the top of the list for international expansion, its potential should not be underestimated. Despite being smaller in population compared to the US, Canada's market is substantial and can offer a stepping stone for global growth.
You can view the whole webinar as a member of our free online 'xporter club', simply sign up to the HUB via this link
Partner at Omni Consulting | Business Consultant, Coach & Strategist
1 年Thank you for having me Elaine. I hope this gives your members a bit of food for thought as they consider new markets. I'm always happy to chat about opportunities here, and take a deeper dive into the different regions of Canada that exporters may wish to consider. Focusing on one region first usually makes the most sense to start.
Adam Joyce
?? Elevating Professional Women to New Heights: Balance, Success, Beyond the Stars ??
1 年This is an interesting perspective,