For Canadian manufacturers who have already experienced success in the Canadian market, an expansion plan into markets outside of national borders is the next logical step to take. And while entering new markets is not an inexpensive or risk-free strategy to tackle, it can be a lucrative (and sustained) source of new revenue for manufacturers. After all, the Canadian market is finite and simply not large enough for most companies to solely focus on—for long-term business growth.
But how do you know if you are ready to tackle a new market place? Is your current business export-ready? How can you evaluate you export potential?
These are some of the topline questions that SYSPRO Canada aimed to answer with the release of the inaugural report, Export Insights. The report, commissioned by CanadianManufacturing.com and developed in partnership with Grant Thornton LLP, benchmarks Canadian manufacturers’ current export business practices and highlights their challenges, success strategies, and plans for long-term growth in overseas markets.
SYSPRO Canada has developed the following infographic to illustrate the topline results from a survey of over 500 Canadian manufacturing executives.
Want to Learn More?
Download the latest industry report, Export Insights 2016: Top Strategies for Growing Your Business Abroad, for deeper knowledge into strategies and recommendations for Canadian manufacturers look to enter new markets.