Businesses that export tend to earn bigger profits, be more productive and pay higher wages than domestically focused companies.
And exporting isn’t just for larger companies. Three in four of Canada’s 70,000 exporting companies employ less than 20 people.
But exporting can be risky, complex and costly to initiate. So what can do to improve your chances of success when preparing your export projects?
A 2017 BDC report on how export can be a key driver of SME growth and profits highlighted three attributes that helped the most successful Canadian exporters ramp up their exports:
- prioritizing exports as critical to success
- properly researching the target market
- putting adequate resources behind their efforts
Attributes tied to strong sales growth