Every year, an average of 130,000 new Canadian small businesses are established. But despite this entrepreneurial drive, only 35% survive their first five years. While startups are critical to Canada’s innovation and overall business competitiveness, they face extreme pressure to maintain tight cash flow and survive streamlined operations. It can be tough, but entrepreneurs aren’t…
Technology firms are among the largest and fastest growing companies in Canada. In 2015 alone, Canada’s advanced technology industry consisted of over 71,000 firms who contributed over $117 billion in economic output. This is largely based on their willingness to take risks and invest in research and development activities. There are, however, some regions in…
Now that summer is officially over, small businesses are returning to maximum productivity. However as Canadian companies race towards the end of the calendar year, it’s important to remember there are significant opportunities to learn and grow your company through professional and industry events. Business owners and executives can make the most of October by…
Exporting is one of the most important growth strategies used by businesses across Canada. Nearly 73,000 Canadian small and medium-sized businesses (SMEs) leverage new markets and opportunities outside of the country by exporting goods or services. This, however, only accounted for 11.8% of SMEs in Canada signaling that there is reluctance among Canadian businesses to…
It’s no secret. Expanding your business into new international markets can help access additional suppliers, customers, and increase profits. Growing into strategically selected markets will make for a more competitive business, however selecting the wrong market could result in wasting precious company resources. A variety of tools and resources are available to help companies select…
Disclaimer: The views and opinions expressed in the following article are those of the guest author and do not necessarily represent or reflect Mentor Works Ltd. If you don’t know the rules of the game, how can you expect to compete fairly and win? Let’s not kid ourselves, exporting is a very competitive game, played…
Ontario has the second largest food and beverage manufacturing sector in North America and continues to grow year-over-year. The sector generates over $41 billion in annual revenue, of which over $7.6 billion is received from exports to other countries around the world. Growing food exports have helped to maintain Canada’s competitiveness among international food and…
Canadian businesses must look for ways to increase exports and drive revenue from international customers. Especially in the technology industry, companies should always be looking for new ways to grow their business both domestically and on a global scale. With a high demand for Canadian products and economic conditions that support increased exports, businesses should…
Canadian exporters received good news earlier this month when Statistics Canada announced that national exports rose by 1.5% in April. This momentum was largely attributed to rising prices (1.1%) and an increase in export volumes (0.5%). What’s better still is that the Canadian dollar continues to rebound and is, at the time of this article’s…
The Canadian manufacturing industry has reasons to be cautious, yet optimistic in the short-term future. In February 2016, the industry’s contribution to Canada’s gross domestic product (GDP) rose by 1.5%, yet as a whole, industry sales dropped by 1.6%. As the Canadian business landscape changes, manufacturing executives must understand how to respond to new opportunities…