Stepping out of our comfort zone and looking beyond the United States is indeed a significant challenge for us, Canadian entrepreneurs. At 6temik, we understand this apprehension, as we constantly experience it with our clients. However, diversifying our export markets is crucial to ensure the longevity and growth of our businesses, especially in the current context.In fact, even before the threats of tariffs, Canada’s Export Diversification Strategy aimed to increase exports to overseas markets by 50% by 2025. Although we are now in 2025, this ambitious goal remains relevant and achievable if we act now.Here are some practical tips based on our experience and current data:
- Identify a concrete target for the coming years. Europe and Francophone countries offer interesting opportunities, particularly thanks to CETA, which facilitates access to the European market.
- Start small, but aim big. First target a single new market, such as France, England, or Morocco. This will allow you to focus your efforts and learn without spreading yourself too thin. Statistics show that exporters active in multiple markets have a higher export volume.
- Adapt culturally. Review your marketing approach to adapt it to targeted consumers. What works in the United States doesn’t always work elsewhere!
- Use professional help to navigate pre-established networks while demystifying available government assistance. For example, the Government of Canada recently announced over $19 million to strengthen the export activities of Quebec businesses.
- Be patient and persistent. Breaking into a new market can take time before seeing tangible results. But please, don’t be seduced by “Wine and Dine” – those networking moments that can give the illusion of progress without concrete results.
Act now to be ready when opportunities arise.Don’t be afraid to step out of your comfort zone. The opportunities are immense: the European Union, Asia, and even Francophone Africa offer interesting potential for Quebec businesses. The recent free trade agreement between Canada and Ecuador underscores Canada’s commitment to diversifying its trade relations.Remember that diversification is not just a growth strategy, it’s also insurance against economic and political risks. In these uncertain times, it’s more important than ever.
So, what will be your next export market? The world is within your reach, and with the right strategy and support, your business can thrive on the international stage.
