In our latest exporting blog, we introduced the criteria for assessing your business’ export readiness. Next, you’ll need to identify your new target market. Choosing the right market(s) to export to is a big decision. It determines where you will focus your resources, as well as the development of your export plan. In this article you’ll learn about the basics of export market identification: how to start, research questions to ask, and online tools to guide you on your way. 

Identifying potential bridges to new markets

Many factors go into choosing the best target market for your business. An important one is who you know. Without a dependable network of contacts to help you navigate an unfamiliar market, exporting could be more challenging. The good news is, you likely already have personal connections right here in your hometown. Perhaps you have cultural connections to another market through an employee who speaks multiple languages. Or maybe you know someone who lives out-of-province in a market that you’re interested in. These are all valuable contacts for getting your foot in the door of a new market. 

Your international network can also be strengthened by connecting with like-minded businesses or experienced exporters. Networking can lead to new opportunities, ideas, collaborations, and more. Start by initiating coffee chats over LinkedIn, attending seminars, webinars, and business networking events. 

Sometimes, your export contacts will find you first. Many businesses begin exporting because they’ve been contacted by someone from a potential new market. Whether it be a consumer, wholesaler, or agent, these inquiries will give you insight as to where interest in your business comes from. 

Lastly, you may have domestic competitors who are exporting. Researching your competitors allows you to learn about new target markets with similar consumers. This way, you won’t have to look far to get an idea of what market makes the most sense for your business. 

Researching your new market

After reviewing information from your network and preliminary research, compile a short list of three to five potential new markets to explore. From there, you’ll need to do further research to know if you’re on the right track.

The Canadian Trade Commissioner Service is an informative resource on the three basic stages of international market research. As the article mentions, there are two types of research. Here, we will focus on secondary research, which involves using data sources that can be found online. After completing secondary research, you can reach out to your contacts for more information through interviews and consultations – this is known as primary research. You can even use primary research as an opportunity to network with importers or buyers in your target market.

For online research, a good starting point is to discover the top export markets for your sector through analyzing trade data. Try collecting and recording statistics on your sector’s exports to various countries. 

Here are a few free online tools for finding trade data: 

Trade Data Online – Allows you to generate customized reports on Canada trade in goods with over 200 countries and find new export markets. 

Trade Data – Available on the B.C. provincial government website. Find all sorts of trade data specific to B.C., as well as trade profiles of other countries.

Country and Sector Information for International Business – The Trade Commissioner Service offers a comprehensive list of general market information that you can sort by country or by sector. 

Research Questions

Now that you have the resources you need to piece together your list of top target markets, you should consider your research questions.

Below are a few of the topics you should familiarize yourself with on your target market(s): 

• Attitudes towards Canada and Canadians
• Demand for your product/service
• Potential customers
• Culture 
• Language
• Economic conditions
• Political stability
• Foreign competitors in that market
• Government regulations

Keep in mind that markets aren’t necessarily defined by country. Within Canada, for example, there are various markets outside of B.C., so don’t forget to consider exporting interprovincially in addition to international markets! 

Narrowing It Down

The last step to identifying your export market is to narrow down your list. From your three to five options, we recommend choosing just one market to begin with. Consider your options carefully – now that you have the tools to make an informed decision, you can save time by pursuing the best market for your business, right off the bat! After gaining experience, you’ll have the confidence and knowledge to tackle another market down the road. 

Choosing a target market can be a daunting task, which is why having expert guidance can be a huge reassurance. Export Navigator can help – the program supports you with everything from networking opportunities to providing resources for your industry. Talk to an export advisor today to grow your business beyond B.C. 

So, you’ve read about the challenges and opportunities of exporting and know all about exporting as a growth strategy. You’ve also learned about the stages of exporting and are aware of what it entails. That brings us to the next step: your export readiness assessment.

Export Navigator outlines four categories that can help determine this: personal self-assessment, general export readiness, sales within B.C., and product or service assessment. The questions in these categories can provide insight on where you are in your export journey and help identify areas where you might need additional support. 

Personal self-assessment

Why do you want to sell outside of B.C.? Maybe you want to meet demand for your product or service elsewhere. Or, you might not even have a clear answer yet and just want to learn more, which is fine. 

Your personal self-assessment not only includes yourself, but your team as well. There are more responsibilities that come with exporting, and it’s important to make sure that everyone is on board. 

Answer the following questions to evaluate how you and your team feel about exporting: 

• Are you or key employees willing to adjust to a potentially unfamiliar business culture?
• Are you willing to make the time and financial commitment?
• Do you have approval from management and other stakeholders to pursue exporting?

Business assessment: export readiness

Once you and your team have decided to start exporting, then the next thing to assess is your business. The following questions will help you figure out what you need to prepare before exporting:

• Does your business plan include exporting?
• Do you have target markets in mind? 
• Do you have experience with selling outside of B.C.?
• Are you familiar with export service providers and requirements?

You’ll eventually need more resources to help expand your business, which include hiring, production, marketing, and so on. Incorporating these factors in your plan makes it easier to accurately gauge your business’ capacity to export.  

There are a lot of associated costs with exporting. For instance, you might want to consider insurance for shipping losses, non-paying foreign customers and contract cancellations. You’ll also need to travel to your target market to do business, and attend trade shows or meetings outside of B.C.

Business assessment: sales within B.C.

The third step is to take a closer look at your existing market and finances before identifying a new target market. What are the demographics of your customers and who are your competitors? Compare and contrast your domestic market with your new target market, and determine what you need to change in order to tap into your new market.

Be prepared to adapt. The demographic your business normally caters to in B.C. may vary from market to market. Use these questions to assess your sales within B.C.:

• Are your sales in B.C. declining, staying steady, growing steadily, or growing very rapidly?
• How diversified are your sales in B.C.?
• If you sell online, what are your top 3 online markets?

Product or service assessment

Last but not least, it’s time to assess your product or service. Some markets are more feasible to enter than others, so it is wise to narrow down your choices. Depending on your new market and your industry, there could be restrictions and regulations that differ from B.C.’s. 

For example, in manufacturing, production lines must produce in the metric system to meet European Union standards. If you want to export food, pharmaceutical, or cosmetic products to the United States, it has to first be recognized by the United States Food and Drug Administration (FDA).

To help determine if your product or service is ready to export, answer the following questions:

• Does your business comply with the regulations of your new target market? If not, can you easily bridge the gap? 
• Does your product or service require any type of certification? Is it recognized internationally?
• Are you willing or able to modify your product or service to sell into another market?

Making the most of your export readiness assessment

This export readiness checklist is meant to provide you with an example of things to look for before you commit to exporting. However, it is not an exhaustive list. For a more in-depth checklist, talk to an export advisor for a free consultation. 

Keep in mind that becoming export ready is a long process – patience is key! Your advisor can help assess your needs and get you on track to meet your goals. 

Export Navigator is made up of our network of experienced and knowledgeable export advisors throughout B.C. Our export advisors take on multiple roles every day to help their clients reach their full potential, but not many are aware of all that being an advisor involves. That’s why we’re here to showcase our advisors’ unique strengths and personalities in our “Meet the Advisor” blog series!

Amber Piché is one of our talented export advisors who has an especially vast portfolio of work in the tourism and food & beverage industries. Being an entrepreneur herself, Amber’s zeal for business shines through when she collaborates with like-minded clients.

Export Navigator: Can you please introduce yourself and what you do as an export advisor?

Amber: As an export advisor I have the privilege to work with passionate entrepreneurs every day, helping them realize their goals of expansion and growth in their company. I tend to spend a lot of time brainstorming different ideas and working through potential challenges with my clients. This is where a lot of the variety in my role comes from. On any given day I could be tackling a client’s marketing, operations, or market strategy, to name a few. 

Export Navigator: Our advisors often have a variety of interests outside of their roles at Export Navigator. What’s your favourite thing to do in your free time? 

Amber: When I’m not working alongside other entrepreneurs, I’m enjoying the great outdoors or spending time with family and friends. Possibly with a glass of wine in hand!

Export Navigator: Your bio shows that you’ve had a lot of experience in different industries. Can you talk a bit more about that and how it led you to international business?

Amber: I have spent my whole life immersed in the tourism and the food & beverage industries. Growing up in the Okanagan, that is probably true for many. My passion lies in marketing and event planning, and it is through this combination that I have been so fortunate to work in many industries.

Through networking and different business relationships, I started working with a tech company in the gaming industry. This opportunity allowed me to travel across Asia, doing business development internationally.

Export Navigator: What kind of work experience do you have outside of exporting and how has it developed your skills as an export advisor?

Amber: Whether I was paid or not, I seem to have always helped friends and family develop their businesses. Over the years, I’ve owned a few businesses of my own, including a tea company for 15 years, and consulted on many projects. I’ve worked with multinational corporations, not-for-profits, local wineries, and a few tech companies. 

These experiences gave me a wider perspective on what areas my clients need support with, in addition to exporting. Having been immersed in the culture of different industries, I can easily connect with clients and put myself in their shoes, so to speak.

Export Navigator: Do you have any memorable client stories that you can share with us?

Amber: I have a lot of great success stories and memories over the past year as an advisor with Export Navigator. One standout to me was a company transitioning from discount selling to social cause selling. They created an opportunity to make a huge difference for Canadians, so I was really excited to take part in that.

I especially love getting a phone call from a client saying, “I got my first [international] sale”. An entrepreneur at heart, my favourite part of the job is being there for my clients through it all – including frustrations, successes, challenges, and aha-moments. I can certainly relate to the rollercoaster that is owning a business, which is why my clients can always confide in me.

Export Navigator: What piece(s) of advice do you have for aspiring entrepreneurs?

Amber: I tend to get asked this question a lot lately. My answer is, identify your value system because it’s the foundation of your business and defines your purpose. Once you know your values and the values of your business, you can make the tough decisions. They will help you grow your team, your market, and will ultimately determine your business’ success.

Learn more

We had a great time speaking to Amber and hope you also enjoyed learning more about our export advisors! Check out the rest of the Export Navigator team on our website.

Thinking of exporting? Find an advisor in your region today and discover what opportunities are available to you.

When you think of exporting, you may not immediately connect it with digital marketing. The prominence of the Internet and online shopping has drastically changed how businesses export. For many exporters, e-commerce is now a big part of exporting and requires business owners to adapt digitally. From 2016 to 2019, the proportion of online sales went from 2.4% to 4%. Of course, 2020 has increased that percentage significantly, as a result of COVID-19. As that number continues to grow, this will impact the traditional retail landscape for small businesses. These days, being export ready means having a marketable product or service that is broadly appealing. A good website for your business is a valuable tool for attracting prospective customers from outside of British Columbia. If you plan to export to a new country, for instance, you want to ensure your website is available in its language and currency. 

Before Getting Started

If you don’t already have a website, now would be a good time to get one up. In today’s digital era, your business’s website (or lack thereof) is often a customer’s first impression of the brand. 

However, it isn’t enough to just have a website. Like with any tool, it can hinder your business if not utilized properly. Although a website requires a lot of maintenance, it’s well worth it. In this article, we’ll be outlining some basic principles to keep in mind when updating your website, as well as providing some resources to get you started.

Website Navigation

You probably already have an idea of what makes a good and bad website, just from surfing the Internet as a consumer. When you browse a website, you expect things to be in certain places. For instance, almost every website has a menu to help direct you to the area that you’re looking for. Those sections usually look like contact information, store hours, products, and an about page.

Whether you’re online shopping or shopping in a physical store, having an organized layout is very important to the customer.

There’s also your website’s UI (user interface) to consider. Other than having the right information in the right places, design can affect navigation too. Having consistent and aesthetically pleasing colour schemes on your website for backgrounds and copy is important for a few reasons.

Choosing a colour scheme or design that matches your brand and is pleasant to look at can make customers want to stay longer on your site. Just remember the copy needs to be easy to read too – you wouldn’t want to read dark words on a dark background.

Clear copy

A high-quality website isn’t all about visuals, even though it’s the most eye-catching part. Make sure you don’t neglect your copy either! Long sentences and dense paragraphs can seem intimidating and drive customers away. On the other hand, you want to make sure your website has enough content and information to satisfy the customer’s needs.

Ask yourself the following questions when you’re writing web copy:

•   What is the call-to-action (CTA)? Identify the next steps your customer can take after reading through your text. Make sure the customer gains something from your content, such as learning more about a certain topic, or making a purchase. The CTA could also be as simple as clicking on a link to read more.
•   Could an eighth grader read and understand this? Having readable content ensures your website is accessible to a wider audience. Tools like the Hemingway Editor can help keep you on the right track.
•   What keywords should I include? When customers are looking for information on Google, they are likely to be using the same keywords in their search. Repetition of certain keywords in your web copy can increase your website’s exposure on search engine result pages.
•   Am I writing from the user’s perspective? Consider your customer’s reasons for visiting your page. For example, is it to make a decision on making a purchase? In that case, you would want to highlight the benefits of your products or service. Don’t go off-topic!

Now you’re all set for revamping your website and strengthening your brand. If these are new concepts to you, don’t worry! Your website is something that evolves along with your business. Keeping track of your website’s audience engagement will help you make tweaks to your content. You can also see where your readers are located, which allows you to gauge interest for your product in other parts of the world. 

By keeping these basic design and copywriting principles in the back of your mind, you will have a good foundation to becoming export ready. 

Need help?

Export readiness means your business is well-rounded enough to succeed in new markets, including online ones. Export Navigator can assess your business’s export readiness and offer tailored, step-by-step guidance.

Talk to an export advisor and learn more about how you can expand beyond B.C. today. 

If done successfully, exporting is extremely rewarding. It can result in higher profits, economies of scale, and innovation. However, the reality is exporting does not come without its fair share of risks and challenges.

You may already know about how exporting out of British Columbia (B.C.) is especially advantageous. But before you go all in, it is essential to evaluate your business’s export readiness. Setting realistic goals and expectations for your business is key to avoiding costly mistakes.

Even if you aren’t ready to export now, you can find out what you need to work on for the future! Export Navigator offers an excellent free e-course, Export Essentials, that covers all the basic topics you’ll need to know.

With that said, let’s jump into the opportunities and challenges that come with exporting.

Market Diversity

B.C. is home to an array of unique and reputable businesses. The size of its market, however, is limited. By exporting out of B.C., you open yourself to many new opportunities across Canada and abroad. As a result, your business will become less dependent on the local market. You can also target global buyers online with a well-planned website and gain more prospective international customers. Entering more markets also allows you to make the most of the free trade agreements we have with other countries. The more diverse your market is, the more competitive your company becomes – both domestically and globally.

Economies of Scale

This term may be unfamiliar to you, but its meaning is relatively simple. Basically, it is possible to decrease production costs if you scale up production units.

Economies of scale are seen as a sign of growth. Exporting can make it easier to achieve economies of scale because you’ll likely face increased demand for your product over time. While it might not happen overnight, exporting can result in more cost-effective production.

Innovation

The global marketplace isn’t just for goods or services, but also for the exchange of ideas.

One major benefit of exporting is the number of creative opportunities you’ll have. Introducing your product to a new market stimulates competition, which leads to new ideas. For example, you might discover another way to improve your product or expand your product line.

Exporting requires you to think outside the box, but this doesn’t only apply to products. It enables you to also develop more streamlined business processes or try out new marketing strategies. Because exporting demands a bigger and better version of your business, it is an invaluable opportunity for professional growth.  

Challenges of exporting

As with any worthwhile endeavor, there are a number of risks and challenges that you need to consider before committing. It is important for you and your team to be fully aware of the time, money, and competition that’s involved in exporting.

Below are three major challenges of exporting, and what to expect for each.

1)  Time

Exporting is an ongoing time commitment. Extensive research in different areas is required for making sure the export process goes smoothly. Some of the work involved is short-term, while others, like maintaining business relationships, are long-term commitments. Here are some of the areas you’ll need to spend time on researching:

•   Rules and regulations in your target market
•   Building and maintaining relationships with your new business partners
•   Labelling and documentation required in your new market
•   Transportation needs for your product, and related costs
•   Paperwork
•   Cultural differences in your new market and how they might affect the way you do business

Did you know? If you export food, pharmaceutical, or cosmetic products to the United States, it must first be recognized by the United States Food and Drug Administration (FDA).

2)  Cost

Exporting is an investment that can be expensive. Make sure you are financially capable of funding your export-related activities and look for funding that your business is eligible for. There are also government grants, loans, and guarantees available if you need support. 

Hiring

You may find yourself needing some extra hands during some point in your export journey. Hiring more employees is one possible expense you could incur, especially as demand for your products increases. You want to make sure you can still respond quickly and effectively to customer inquiries and orders. However, that isn’t to say small teams can’t export – even a one-person business can export successfully!

Production

Higher demand means you should account for higher production costs. On top of making more units of your product, the number of associated costs will increase as well. You might need to spend on modified packaging and marketing materials in a new language, for instance.

Networking

Meeting potential buyers in a new market is a crucial step in exporting. Without having the right connections, it’d be difficult to establish your business’s presence in that new market. One way to meet potential buyers is through attending virtual or in-person trade shows, which can get pricey from registration fees and travel.

Market research

Before deciding on which market to enter, you have to see whether your business would be a good fit for it. You’ll gain insight on who your competitors are, the level of demand for your product, and your projected performance in that market. You will also need to know the profile of your average customer, the size of your market, and so on. That’s where market research comes in. For small businesses, this work is often outsourced to other companies, another expense to consider before you start exporting.

3)  Competition

You probably already have a clear idea of who your competitors are in your local market. When exporting, you’ll also be dealing with a much wider pool of competitors in your new market. On top of that, you will need to meet the expectations of your new customers.

 Facing domestic and foreign competition is both a challenge and an opportunity. As mentioned earlier, competition often leads to developing innovative methods of making your product or business stand out. It is also a challenge because this could require more precious time and resources.

Getting support

Business owners may feel overwhelmed after learning about the complexity of the export process. It is common for these feelings to arise, especially as a first-timer with no outside help.  

Export Navigator aims to make exporting as approachable as possible for both newbies and those who already have some experience. No matter your exporting level, the program helps entrepreneurs save money, time, as well as by giving them a competitive edge. Talk to an Export Advisor today and learn about ways Export Navigator can support you and your business.

Many entrepreneurs strive for sales growth and security in their business. If your business plan doesn’t include exporting as a way to increase sales and diversify your market, you may want to consider incorporating it. Exporting is often overlooked as a viable option for small businesses due to common misconceptions. However, it can actually be a smart investment for your company’s future. That’s why we’re here today to address some of the doubts small business owners have about how to export from B.C. It’s more attainable than you might think!

Myth #1: My business is too small for exporting overseas

There are a lot of benefits to exporting, but one major concern small businesses have is they do not have the capacity to export. The good news is, you don’t have to jump into exporting overseas right away, or at all. Selling to our neighbours in Alberta or in the United States from British Columbia (B.C.) counts as exporting too! Plus, doing so can grow your revenue and business over time. It’s always a good idea to diversify your market to protect your business from variables like local demand or foreign competition.

Size is no impediment to the exporting process. In fact, many solopreneurs are successful in the export field. As a small business, you can use your size as an advantage to appeal to a broader customer base. If you think your product is unique and special, chances are, other people think so too. Use that opportunity to market your goods as ‘specialty’ or ‘exclusive’. Another possibility for small business export growth is to start by entering a local supply-chain in B.C. This allows you to export as suppliers to larger exporters.

To fully explore all the paths you could go down, Export Navigator is a great starting point for beginners. The program connects small businesses in B.C. with an experienced export advisor, your personal guide to everything export-related. Your export advisor can help you develop a realistic market strategy, expand your business, and eventually, expand your market.

Myth #2: I don’t need to export

Many local businesses decide to stay local because they believe it doesn’t make sense for them to export. In some cases, that is true—for instance, exporting may not work for a hair salon or a restaurant. But more often than not, people are unaware of their business’s exporting potential. This is especially true if they are in a sector that is export-capable, such as local manufacturing, technology, and even tourism. Like tourism, some services may also qualify as exports. If the service has customers from outside B.C., this could make the business eligible for various exporting programs, services, or funding.

With the prominence of the Internet in all aspects of our lives, the number of customers opting to shop online only continues to grow. This presents a golden opportunity to grow profits that small businesses should pay attention to. While your traditional brick-and-mortar store isn’t likely to disappear any time soon, e-commerce is another increasingly popular avenue for potential sales growth.

Even though the retail landscape in B.C. continues evolving to accommodate online shopping trends, almost half of Canadian small businesses still don’t have a website. Having a high-quality website that’s easy to navigate is an invaluable tool for customers who want to learn more about a business. Establishing a strong social media presence is another great way to engage with and grow your customer base. One Export Navigator client, Rip’s Cleats, was able to increase revenue by an impressive 84% after starting an e-commerce site. Doing business online expanded their market to include customers from all over North America.

Myth #3: There is no export support and service that suits my needs 

There are so many facets to exporting: targeting export awareness and growth planning, skill development, opportunity identification, market entry, and more. This can make  it difficult for business owners to find the right fit for exporting services and support. Although a one-stop shop for every single exporting service doesn’t exist, Export Navigator can help assess your business and connect you with the right resources.

In addition, check out export support services from trusted organizations such as Small Business B.C., B.C. Food & Beverage, Women’s Enterprise Centre and local economic development offices. There are also federal and provincial supports available, like Export Navigator and Trade and Invest B.C.

Learn more

Still have questions about exporting? Talk with an export advisor and learn more about how to export today. Export Navigator is unique because it is the only program in B.C. that offers free expert guidance through every step of the way. Don’t miss out on the opportunity to get tailored advice and information for your business!

Export Navigator was created to help guide small businesses in B.C. through their export journey and ensure they’re on the path to success. The program’s export advisors make it easier for small business owners to navigate the constant learning curve of exporting. By providing one-on-one support, they help businesses reach their full exporting potential. Export Navigator’s clients come from all kinds of sectors, so here we’ve highlighted some of the ways in which we’ve expanded the markets of small businesses like yours. This article focuses on our retail clients, who represent everything from some of B.C.’s finest specialty goods to apparel. Read on to see how our export advisors have helped them achieve their goals!

1.   Develop market strategy

Developing a tailored market strategy is important if you are considering exporting to new retail markets. Your export advisor can help you establish your brand in new places and prove your credibility to a wider customer base. After creating a new retail market strategy and working on other aspects of their business with Export Navigator, Squamish business Gogglesoc has increased its revenue considerably. It has also experienced unprecedented international growth.

2.   Help with export grant application planning

Gogglesoc’s export advisor helped complete multiple successful CanExport grant applications. By joining Export Navigator, you will work with an advisor that knows the ins and outs of application planning. They can help direct you towards any funding programs that you may be eligible for, as well as assist in the application process. 

3.   Address issues as they arise

Getting that one-on-one support from an export advisor is valuable because you will have someone who can provide business advice and information relevant to you. Your advisor will get to know your business on a deeper level, making them the best person to ask your most pressing export questions. Nevada Christianson, founder of ChicaDee Designs, discovered having an advisor made running a small business much more manageable. She has learned a lot from her advisor’s wealth of knowledge, making her a more confident entrepreneur. 

4.   Grow profits

Getting your retail business export-ready puts you in a better position to increase revenue and sales. While your long-term goal may be exporting, your export advisor can also help your company grow professionally to reach that goal. An Export Navigator client, Rip’s Cleats, worked with an export advisor who connected them to several programs that helped develop their digital marketing. Their next step was starting a retail e-commerce site, which increased their online sales by 84%.

5.   Introduce new networking opportunities and programs

Knowing the right people in the right places will give you a huge advantage in exporting your product. It’s never too early to start building your network, as you will need connections in your new target market. Participating in Export Navigator is the perfect opportunity to get your foot in the door of the exporting world. That’s because your advisor can introduce you to different networking events and programs in your region. Export Navigator client, Popov Leather, was introduced to essential contacts including potential lenders and manufacturing experts through its export advisor. 

6.   Save time and money

Export Navigator demystifies the export process, not only saving you from a headache but more importantly, costly missteps. Skincare brand VinoSpa was able to fine-tune its business model, marketing model and export strategy with an advisor. This allowed the business to start exporting in North American sooner than expected. For its next move, it’s now eyeing expanding its retail market to the United Kingdom. VinoSpa’s owner, Brenda Hetman-Craig, says of Export Navigator: “Without this network of support, it may have taken years to get where we are.” 

7.   Set achievable goals

Export Navigator assesses your business and meets you where you are. That way, advisors can make sure you’re comfortable and prepared for whatever new direction you decide to take. The export advisors have a realistic approach to exporting, meaning they work with you to set achievable short-term and long-term goals. Because of the flexible length of the program, you will have the chance to see some of those goals come to life. That is a very rewarding feeling!

As you have seen from some of our success stories, many small retail business owners have benefited from exploring how to expand their market. From exporting out of B.C. to strengthening your online presence, there are many ways you can make your business stand out from the rest. Find out how by signing up to talk to an advisor today.

For any business owner, stability is key. However, there are many factors that can destabilize a business. As the past year and more of the pandemic has shown, businesses need to adapt to unforeseen circumstances. Have you considered how new competition could disrupt your traditional customer base? What if a major purchaser moves out of your region? These are just a few of the compelling cases for diversifying your market. 

Exporting is essential for long-term revenue and business growth. You’ll become less reliant on your local market, discover new business opportunities, and become eligible for more provincial and federal government grants. Even exporting out of B.C. to our next-door neighbour Alberta is a great feat as a small business. Doing so not only expands your market, but also provides an opportunity to assess your business’s capabilities for exporting at a smaller scale. 

To learn more, Export Navigator’s free e-course, Export Essentials, is highly recommended for beginners. The course helps small business owners gain a deeper understanding of what exporting entails. Export Essentials covers the most basic and important exporting concepts in one short, self-directed course. 

Benefits of exporting from B.C. 

Businesses in B.C. have several strategic advantages that make exporting more accessible. For instance, it shares a land border with the world’s largest consumer market and B.C.’s largest trading partner, the United States. You don’t have to look far to export and the U.S. is the perfect example of that. It’s often one of the easier target markets for first time exporters.

There are a few reasons why you should start exporting to the U.S. before dipping into other overseas markets. As outlined by Export Development Canada, the three factors to consider are familiarity, proximity, and size and variety. 

• • Familiarity: The U.S. contains markets most similar to our own here in Canada, has fewer cultural barriers, and does business in the same language. 

• • Proximity: Many U.S. markets are located close to B.C., such as Washington, and there are many other emerging U.S. markets that we should be paying attention to. 

• • Size and variety: The U.S. market is not only close in proximity, but also contains various sub-markets that vary from state to state. Therefore, you have a huge range of options for diversifying your market in the U.S. 

Exporting to Asia

For businesses that are capable of further expansion around the globe, B.C. also contains several world-class international ports. This makes exporting to Asia more feasible, as B.C. boasts the shortest sea route between North America and Asia. Asia’s closest ports of entry to the west coast of North America are in B.C., allowing goods to get there faster. 

In addition to the geographical advantage, Asia is another coveted market for exporters due to its rapidly rising middle class. This creates higher demand for goods and services. In turn, it also means plenty of exporting opportunities for small businesses everywhere. B.C. already has strong cultural connections and a prominent presence in Asia, establishing our province as a reputable business location. 

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Still have questions about exporting? Talk with an export advisor and learn more about how to export today. Export Navigator is unique because it is the only program in B.C. that offers expert guidance through every step of the way. Don’t miss out on the opportunity to get tailored advice and information for your business!

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