Why exporting matters
Becky Davison, Sept. 27, 2019, 7:46 p.m.
The Halifax Chamber of Commerce will launch a proven Trade Accelerator Program in 2020. Why will we do this?
BDC’s 2017 survey of 700 small and medium size businesses across Canada revealed that the most successful exporters share three key attributes:
1. They see exporting as critical to overall success. Gaining a toehold in foreign countries is never easy. The firms that are most likely to overcome the challenges and reap the rewards give high priority to their international success.
2. They do their homework before taking on the foreign competition. Businesses that take the time and effort to evaluate their competitors in international markets before diving in report significantly higher export sales growth than those that do not.
3. They put resources behind their export strategy. Hiring at least one person focused on exports is associated with high foreign sales growth regardless of the size of the business, the industry in which it operates or the export strategy it pursues.
In 2017, Nova Scotia exports grew 3.9 per cent (or $186 million) compared to 2016. A great start, but at approximately $13 billion in total we are still a long way from the Ivany Report target of $21 billion and in fact we are down six per cent from 2012 just six short years ago.
Exporting from Nova Scotia isn’t reserved for lobsters and tires. Nova Scotians are exporting consumer goods, marketing services, forestry materials and much more.
We in Nova Scotia need to start thinking not only about exporting, but what does it mean to export?
As part of our 2019-2023 Strategic Plan, the Chamber aims to support our over 1,700 members and companies across Nova Scotia in gaining knowledge and supporting them to access today’s international markets and how their business can experience significant growth by taking advantage of the new and existing global opportunities.
This means helping your business and our members realize their global potential to:
• Navigate complexities of the global trade ecosystem
• Leverage Canada’s deep trade and investment resources
• Access tailored, face-to-face coaching and advice
• Learn about international best practices
• Accelerate export readiness
• Develop and implement a new market entry plan
• Expand your global trade footprint and grow revenues
As a small or medium sized business owner you may believe that you don’t have access to enough resources to grow your business beyond our borders — but this is where the Trade Accelerator Program (TAP) Canada comes in.
What is TAP?
TAP will transform your business by providing your company access to Canada’s top exporting advisors, resources and contacts through the training and support they need to become successful international traders in their specific business sector. Now available in eight hub cities from coast to coast — including Halifax — TAP Canada will be your trusted partner for global growth.
TAP Canada will help your business with dynamic workshops to build the right export plan with expert resources, advice and hands-on mentorship. In very little time you’ll receive the training and support you need to become a successful international trader in your business sector.
On Monday, Aug. 19, we were happy to host the Minister of Small Business and Export Promotion, the Honourable Mary Ng, as she announced a federal investment in trade in Nova Scotia and a partnership with the Halifax Chamber of Commerce. We are pleased to offer our first cohort in early 2020, in partnership with NSBI and our local and national partners. Learn more at www.Halifaxchamber.com/TAP.
This article first appeared in the September edition of Business Voice magazine, produced on behalf of the Halifax Chamber of Commerce.