While the business benefits and revenue gain of exporting to the U.S. seem to far outweigh any initial investment or preparation costs, expanding to any new market for Canadian manufacturers can unleash the potential for detrimental business risks—if executive leaders are not well-versed and prepared.
Being informed and primed for the critical factors before entering the U.S. market, is your first line of defense for mitigating risk, and can save you time and money.
This solution sheet, Mitigating Risk for Canadian Manufacturers Looking to Export to the U.S.—4 Key Strategies for Protecting Their Bottom Line, outlines four business areas Canadian manufacturers need to pay close attention to, and key strategies to help them mitigate risk, when considering exporting to the U.S. market, including:
- How to establish a baseline and perform market research
- Meaningful ways monitor supply chain performance
- Considerations for understanding U.S. tax policies and tariffs
- Methods for examining and understanding currency fluctuations