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Doing business across borders can be challenging, so we’ll walk you through the journey of exporting – this is, the movement of goods and services from one country to another. Think of it as selling goods and services produced in one country, to buyers in another country.
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We Can Help You Export
For small businesses, going global or exporting can be a daunting venture. Although many businesses may have “export-possible” products or services that can serve international markets, global business opportunities are never explored. Traditionally, you needed to have an established local market and have some level of success in selling in that home market before you could even think, or attempt, expanding into foreign markets.
But what if that is not necessarily true? Could you sell to international markets right off the bat? The answer is yes—companies of all sizes can go global! What about inter-provincial trade? There are 13 provinces and territories in Canada, and that means 12 new markets that you may find success in, beyond your borders.
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Why Should You Consider Exporting Your Products?
COVID-19 has had a severe impact on economies across the globe. It has had a particularly severe impact on international trade as governments close their borders and limit the movement of goods and services. However, with countries slowly opening their borders back up again, it is predicted that exporting activities will increase heading into 2021.
This presents a great opportunity for businesses and business owners right now to start doing international market research and developing market entry strategies in order to take advantage of the anticipated growth in international trade.
Where Can You Export?
You can export anywhere that you have contacts and connections—it should be somewhere that you have identified has a need for your product or service. Consider somewhere:
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- That has low barriers to market entry
- That Canada has already established trade agreements with
- That you have some level of market or trade intelligence on
- In which you have some understanding of political, economic, socio-cultural, and technological factors
In addition, you should be aware of the import regulations of the place you want to export to and have done some preliminary research.
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Opportunities & Risk
Exporting has many benefits, and also many risks. It’s important to consider every side of the coin before you commit time, money and resources into it.
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Are You Ready to Export?
Your business must have a developed product or service, an established business model, and an established international market entry strategy in order to be considered “ready” for export. Businesses with an established and successful local market tend to be the first to explore global markets as part of their growth strategy, but with a well-developed product or service, any startup business can explore exporting successfully.
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How do you know if this is the right step for you? Ask yourself:
- Do you know that your product or service can satisfy a foreign market need?
- Are you receiving inquiries beyond your local market?
- Are your online/website analytics indicating you have interest from foreign markets or customers?
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Coming Soon: Business Link’s Export Readiness Program
Launching on October 7, the Export Readiness Program is a trade preparedness program developed to support businesses interested in exploring international markets. Often, businesses do not spend enough time, if any at all, completing the most important step when considering exporting: planning. Without a strong plan in place, you may encounter challenges, issues, and setbacks throughout your export pursuits.
This program is designed to help businesses and business owners build exporting into their business planning. With the support and assistance of specialized Business Strategists, you’ll be able to navigate the export process and grow your sales outside of Alberta effectively and efficiently.
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Our support includes helping you develop an export business model, mapping out an international market entry strategy, and equipping you to access programs and services to get you export-ready.
Business owners interested in exploring and participating in the program will need to complete a brief online form and will then be contacted by a Business Link Strategist to determine if qualifications are met. You can learn more by attending our upcoming virtual events:
- October 15 | Exporting: Resources & Opportunities – Register Now!
- October 29 | Export Essentials: Are You Export Ready? – Register Now!
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