One of the key obstacles small and medium enterprises (SMEs) face in exporting to new markets is the high financial cost. In response, the Government of Canada has committed $100 million in additional funding for CanExport and related funding programs to help Canadian firms manage the risks associated with developing and diversifying their sales abroad.
CanExport offers direct financial assistance to small and medium enterprises (SMEs) registered in Canada. Since its launch in 2016, the program has helped over 1,000 SMEs with market entry projects in 90 new markets, and generated $375M in new export sales.
CanExport provides matching funding between $10,000 and $50,000 to eligible SMEs, and supports a wide range of export development activities into new markets, such as: business travel to target markets; participation at trade fairs and trade missions; adaptation of marketing tools for new markets; intellectual property protection; business, tax or legal advice for target markets; and market research.
The program has broadened its eligibility criteria with regard to the number of FTEs and annual revenue, and will dispense grants in addition to contributions. These and other recent changes reflect CanExport’s commitment to becoming an indispensable tool for Canadian businesses looking to better compete in the global market place.
If you have an export development project in mind, visit the CanExport website for full program details and to submit an application: Canada.ca/CanExport