Opening new markets is not easy. And it’s certainly not cheap. But for Canadian companies it is a vital source of new revenue—the national market simply is not large enough for most companies to focus solely on home turf.
However, if uncertainty equals risk, there may be no riskier an endeavor for a company to undertake than opening up a new market for exports. The large financial commitment is just the start. Manufacturers hoping to leverage the substantial opportunities found abroad face a long list of cultural, logistical and regulatory hurdles that must be ironed out before a single product ships to their first customer. Indeed, the task is complex and littered with landmines for the uninitiated exporter.
This inaugural industry report, produced by CanadianManufacturing.com in partnership with sponsors SYSPRO Canada and Grant Thornton LLP, highlights leading manufacturers’ current exporting business, and illuminates their challenges, success strategies and plans for growth in overseas markets. The report contains data from a national survey of more than 500 Canadian industrial executives and key outcomes from a follow-on roundtable of nine exporters and industry experts.
Highlights from the report include:
- Key calls to action, lessons learned, and best practices collected from Canadian companies who are currently exporting
- Leading strategies and tactics that any company can apply to new exporting projects
- An overview of the common risks new exporters face—and some of the proven methods of mitigating those risks