TAP Canada Partners
TAP Canada Partners
Business Development Bank of Canada (BDC) | National Partner
Our business centre’s mission is to help create and develop strong businesses in Winnipeg. Whether you are looking to apply online for a small business loan, or need additional financing for a larger project, our financing solutions are designed to protect cash flow and help grow your business. You can also access our network of experienced business consultants in Winnipeg, who can provide you with practical advice to help you accelerate your company’s growth.
Expanding into a foreign market offers a world of opportunities to Canadian companies like yours, but it’s a lot trickier than most entrepreneurs realize. Whether you’re fairly new to doing business abroad, or you have experience but feel the need for additional guidance, we can help you plan your expansion. Through our expertise, resources and business contacts, you will get the support you need to enter international markets and grow your sales and market share.
BDC’s International Growth Program
Our experts, who have practical experience helping many clients succeed in new markets, will work with you to evaluate your expansion potential, select the most appropriate markets, develop an entry strategy and prepare you for market implementation.
Our experts will:
- Analyze your company’s ability to seize opportunities in international markets based on your organizational structure, financial health, as well as leadership and commitment.
- Help you decide where you should focus your efforts and select the right markets with the highest potential, based on an independent, fact-based analysis and market research.
- Develop a comprehensive strategic plan to help you export or make direct investments abroad in order to support your company’s competitiveness on an international scale.
Export Development Canada (EDC) | National Partner
What is EDC? Your trusted resource for growing your company internationally
Export Development Canada (EDC) is a Crown corporation and Canada’s export credit agency. Our job is to help Canadian companies of all sizes and from all sectors to respond to international business opportunities. We do this by providing exporting intelligence, knowledge and connections, as well as insurance and financial services, bonding products and more.
Yes, you can grow your business internationally – with help from EDC
Even if you’re a smaller company, EDC can help you sell globally. Export Development Canada (EDC) helps more than 7,000 Canadian companies each year, many of them small businesses, to conduct trade and investment globally. If you’re ready to take on the world, we can help.
Make sure you get paid
Our flexible insurance solutions protect against risks such as your customer’s inability to pay, political instability and sudden contract cancellation.
EDC can help you get financing for a range of international business needs, as well as:
- Your export- and investment-related capital – We can provide guarantees to your bank on loans for equipment, work in progress or working capital needs.
- Investments in other markets – If you want to invest in another market, perhaps by setting up a local office, EDC can provide financing support.
Get a bond without tying up cash
EDC’s bond and guarantee solutions can encourage your bank to forego collateral requirements, freeing up your operating lines.
Get market intelligence
Protect against a changing dollar
Purchasing a foreign exchange contract usually requires collateral. EDC’s guarantees can satisfy that demand, freeing up operating lines.
Royal Bank of Canada (RBC) | National Partner
Royal Bank of Canada is one of Canada’s largest banks as measured by assets and market capitalization, and among the largest banks in the world. As one of North America’s leading diversified financial services companies, RBC provides personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis, serving close to 15 million clients through offices in Canada, the U.S. and 51 other countries.
What are some key considerations when preparing to enter a new market?
- Identify your opportunity: Is there a demand for your product outside of Canada? And if so, will international customers pay a price that covers the additional costs of exporting?
- Research your financing options: Do you have sufficient cash flow for the increased costs and extended payment terms associated with international trade?
- Consider your marketing requirements: How will your products be introduced to the new market? Will you need an agent or sales office, and are you able to manage this with your existing structure?
- Determine the logistics: What are the costs associated to shipping your goods into a new market? What are the risks, and how will you mitigate them?
What are some of the major risks of doing business internationally?
- Payment risk: Can the risk of non-payment be estimated and mitigated?
- Foreign Exchange risk: How will fluctuations in exchange rates affect your profit margin?
- Documentary risk: How do you ensure that your contracts and trade documents are correctly drawn in line with the relevant laws and codes of the target market?
- Country and Political risk: What are the political risks of doing business in a particular country, and how can they be protected against?
BDO Canada LLP
BDO is a leading provider of professional services to virtually all business and not-for-profit sectors of various sizes and stages of growth. Our team delivers assurance, accounting, tax, and advisory services with deep industry knowledge and exceptional client service. And as part of the international BDO network, we provide seamless and consistent cross-border services to clients with global needs.
Competing in a global market provides considerable growth opportunities, but it also creates obligations to follow rules and regulations in foreign jurisdictions.
Decisions regarding legal entities, where to conduct business, and how to finance operations all greatly affect the amount of taxes companies pay. BDO’s International Tax professionals work closely with clients to gain an understanding of their needs, and offer practical guidance to help them optimize foreign operations and comply with foreign jurisdictions.
With experience serving private businesses in the mid-market and large corporate market, we help Canadian businesses expand their operations globally. Our International Tax team is able to provide clients with expertise. Backed by a network of 1,300 offices in more than 150 countries, our professionals are able to provide our clients with the global resources needed to comply with tax laws, no matter where they choose to operate.
Our services include, but are not limited to:
- U.S. Tax, including tax planning, compliance and advice on U.S. federal, state and local taxes.
- International Tax Planning to optimize your current tax structure and plan for tax efficient Expansion.
- Transfer Pricing to ensure compliance with Canadian transfer pricing regulations, avoid penalties and reduce the potential for double taxation.
Global Affairs Canada
Manitoba companies can make use of the Trade Commissioner Service at no cost to meet their international business objectives in markets around the world. Along with our Canadian network of trade experts, we have offices in more than 160 cities worldwide with 125 years of experience that can provide you with key business insights and access to an unbeatable network of international contacts.
The Trade Commissioner Service promotes Canada’s economic interests in global markets to increase your international sales by providing four key services:
- Market Potential Assessment
- Preparation for International Markets
- Problem Solving
- Qualified Contacts
The TCS engages in a wide range of international business development activities including:
- Developing a network of international business contacts
- Identifying and communicating business leads
- Conducting advocacy on foreign market access activities
- Assisting you with understanding the benefits to your company available through Canada’s negotiated Free Trade Agreements around the globe
- Funding assistance of up to $75,000 related to international expansion through our CanExport program
Naida Communications is a full-service sales & marketing strategist firm dedicated to providing integrated sales & marketing solutions tailored to your business. Our only mandate is to help your business grow your sales on a consistent basis and elevate your company to another level. We will help you build solid sales & marketing processes as well as differentiate you from your competition.
Thinking of exporting? Having a sales and marketing strategy is key. Here are 5 key items to help you on your way to international growth.
1) Understand your Sales & Marketing Objectives:
- What do you want to achieve? Knowing your end goal will help to determine your direction going forward:
> Brand Awareness
> Increase Sales
> Expand Internationally/Nationally
2) Know who your target market is:
- Research your target audience and understand what communication mediums and messages resonate with them
- What has worked at home might not work abroad or in other regions
3) Develop a Sales & Marketing Strategy:
- Understand your current business and how exporting fits into your overall strategic plan.
- Conduct market research and identify which export markets may be suitable
4) Have a Value Proposition (VP):
- The Value Proposition forms the launching point for all of your sales and marketing moving forward.
- It must resonate with your primary target markets and is an important factor in differentiating your company from the competition
- Do your research; is there any other available resource that’s available to you?
- Companies fail to take advantage of resources that may be available to them. This may include support from federal and provincial agencies
Supply Chain Canada
Supply Chain Canada (Manitoba) is the leading association for supply chain professionals in Manitoba. The Institute offers the Supply Chain Management Professional Designation Program along with technical training in the areas of sourcing, procurement, transportation, and warehousing.
Located in Winnipeg, we understand the needs of our members and local industry. Optimizing supply chains is the key to increasing Manitoba’s competitiveness. Our members represent some of the largest, and, most successful companies in Manitoba.
What can businesses do to ensure long-term success in new markets?
- Develop a supply chain optimization strategy to reduce costs, maximize efficiency, and minimize risks.
- Ensure your supply chain strategy is aligned with corporate goals, objectives, and most importantly…your customers.
- Develop a training plan to ensure your supply chain staff have the necessary knowledge and skills to perform their roles effectively.
What are some common mistakes organizations make with their supply chains?
- Not enough attention on total cost of ownership and value capture.
- Lack of dedicated, and trained, staff focused on the supply chain function.
- Lack of integration among internal and external stakeholders.
What are some of the most important supply chain strategies to consider?
- Don’t treat all items equally, devote the majority of your time to dealing with strategically critical items.
- Creating a culture of continuous improvement.
- Ensure risk mitigation is part of your supply chain strategy.
Thompson Dorfman Sweatman LLP
TDS is Manitoba’s largest independent law firm, offering services in eight languages. The full-service firm’s 110 lawyers provide services including international legal services, business law, tax law, labour/employment, immigration, privacy law & data protection, and intellectual property. As the exclusive law firm in Manitoba for Lex Mundi, TDS can help clients in 125+ countries worldwide. TDS has ten offices in Manitoba, including Winnipeg, Brandon, Portage, Morden, Winkler, Steinbach, and Neepawa.
What can businesses do to reduce stress, save time and money before entering a new market?
- Conduct due diligence on business partners before entering into any commercial dealings
- Understand the importance of local customs and culture
- Get great advice so you understand the difference in important laws between your home jurisdiction and the new jurisdiction
What are some common errors that can be avoided when entering a new market?
- Not having a basic understanding of the laws of the foreign jurisdiction(s) you’re entering (e.g. employment)
- Not having pre-vetted, reputable legal counsel in the foreign jurisdiction to assist you
- Not protecting your intellectual property in all key jurisdictions that you are doing business in
- Assuming that doing business in another country is very similar as doing business in Canada
What are some important strategies to consider before starting to do business outside of Canada?
- Look for service providers in the new jurisdiction who are highly connected within the business community and with governments
- Try to access information on doing business in the new market in advance of making major decisions
- In situations where businesses are unclear on what approach they should take in the new market (legal, marketing, human resources, etc.), seek expert local advice from service providers in the new market, to assist with making an informed decision