Visualize data in numerical format

Numerical data should be presented as charts, tables or graphs wherever possible. Researchers can use a wide range of tools to present material in an attractive and clear format. Spreadsheets can organize numerical information and generate graphs and charts. Graphics packages can also be used to portray both numerical and non-numerical information.

Tables are one of the easiest methods of presenting quantitative data, but they must be well organized. Tables must have clearly labelled rows and columns and be organized consistently.

Graphs and charts present numerical information in a visual form. Each part of the graph or chart should be labelled clearly. There are various styles of charts to choose from. For instance, pie charts are used when the components of the data being shown must add up to 100 percent. They are most often used to show market-size data, classification data or market shares.

1. Pie Charts

2. Spider charts

This type of visual representation is sometimes used to present comparative numerical information in a way that quickly and easily highlights differences among categories.

3. Bar charts

Bar charts or histograms are a common tool for illustrating data and are most commonly used with rated data. They can be used to show customer satisfaction levels, market size for different companies and trends within a group.

Present data in qualitative format

There are many effective ways to visualize data if it’s qualitative as well. Information can be presented in the form of a flow chart that communicates processes or decisions, or it can be explained in relation to marketing frameworks. Quotes can add emphasis to a point, because they indicate the thoughts of the consumer. However, quotes should never directly identify an individual.

Looking to determine if your new trade opportunities are viable? Check out the FITTskills Feasibility of International Trade online course!

4. Flow diagrams

This is a very simple and effective way of presenting organizational data. Flow charts should be labelled clearly, and the flow of a decision or process through the various stages should be clear and easy to understand. The reader should be able to start at one point and follow a path through to the conclusion.

Whether you sell goods or services or both, there may be tremendous opportunities for you to grow your business outside of the domestic border. In fact, going global can make you more efficient, make you more competitive and make you stronger.

However, if exporting were easy, every company would do it, so it’s crucial to understand what’s involved.

During this series, we will provide an outline of some of the risks of going and growing globally, as well as a high level “A to Z” of exporting – everything from assessing your company’s export readiness to planning and researching market entry, finance and marketing.

FITT experts:

Daniel Lewis CITP, Founder – Daniel’s Chai Bar, Author, International Speaker

Marvin Hough CITP, President – MIRA Limited

Lora Rigutto Vigliatore CITP, Loyalty and Engagement Manager – FITT, International Business Instructor

Assessing your company’s export readiness

Feasibility of International Trade

When we talk about feasibility of international trade we’re principally referring to three broad components:

• Export readiness – does your venture have the resources required to venture into foreign markets?
• Choosing your target market – where should you start?
• Suitability of your products and services – is your product or service suitable for your target market, or do you need to modify it in some way?

The first step in assessing your export readiness is to do a SWOT analysis – you must assess your strengths and weaknesses and figure out your gaps.

The second step is asking yourself those tough questions – why are you exporting, who is going to get the work done, and are you really ready?

Daniel, can you tell us about your company’s journey to importing and exporting, and how you determined when you were ready to go global?

The thing I like to say is that we started exporting accidentally, and then we learned how to do it the right way, so a lot of what I learned was by mistake.

When we started our company, our focus was on how we could positively impact the community that we’re in, which was working. But then it got to a point where the people that we were impacting in our local market well, they have family that visits from international locations, and when they would experience our brand and our products we started to hear the questions like “do you ship to the U.S., to Australia, Japan?”

When you keep getting those questions then you start to ask, is there business potential elsewhere? That’s what started to happen for us. We started to sense a demand, especially from the U.S., for our teas and we had to start thinking about how to get it there. So we had to figure out packaging and how to ship it – what were the documents that we needed.

We made a lot of mistakes in those early stages, until we started to learn from those experiences and get our feet on solid footing.

We also started to learn that in the U.S., which became one of our big markets, it’s very different than Canada. People are different, the buying decisions and motivations are different, and we couldn’t just copy paste what was working with our Canadian market. Eventually we tapped into resources like FITT to learn and refine that process.

What were some of those gaps that you had to address before you could make that leap to a new market?

 One of the biggest gaps for us was, from our company’s inception, we branded ourselves as a company who uses tea as a tool to impact people’s lives in a positive way, so in our marketing we put our mission before our product. And that resonated very well here in Canada.

But when we went to an international market, like the US, they didn’t really know us, and that connection was not the same. We had to find a strategic way of turning that around and creating a product focus. It was the complete opposite of how we were branding and marketing ourselves originally.

Marvin, how do you assess or help your clients evaluate their own export readiness?

You know in Canada, we have about a million SMEs and only about 4% are actually exporting. And out of those about three quarters sell into the United States. Going global for an entrepreneur or startup SME is really challenging, but it’s also really There are three pieces of good news I want to share:

1. There are more groups available now to help entrepreneurs than ever before. FITT and Startup Canada are both excellent examples.
2. The digital revolution has created an easier path into markets.
3. Startups can be very flexible and agile and being able to pivot and change the way you’re operating is really, really important.

I put my clients through a readiness checklist that can be quite extensive. I’ll mention some of the points that I think are really important that companies look at. Number one is management’s commitment to the export field.

I’ve seen companies say they’re ready and they want to go at it, but two months later, they come back and another project has taken priority. To tackle international markets, companies have to be sure they’re committed from the very top.

The second part is foreign market research. You can do a lot of this online now, which makes this much more accessible.

Thirdly, having the financing setup and support is important, whether you have to adapt your products or just completing an order. So many companies I’ve seen are stretched too thin, and they’ve got an export order but they lack that risk management.

As you enter a market you’ll often be relying on an agent, partner, or distributor. It’s so important to do the full analysis and fully vet your partners.

There are many other items on the export readiness checklist – from getting the right freight forwarder to understanding the promotional material requirements in your target market.

A great resource I’ll point out is on the Trade Commissioner website  – there’s an export readiness quiz that you can complete to assess all these readiness factors.

And if you don’t have an answer to some of those questions, or the answer is no, then consult with consultants, and CITPs, and seek training resources like the workshops and courses provided by FITT. The Situational Analysis workshop and Feasibility of International Trade course in particular can help on the preparedness side.

EDC, is also a good resource for companies that are assessing if they’re ready to export.

But as mentioned, sometimes an export order comes out of the blue and all of a sudden there’s an order coming in from a new market. That can be an exciting and overwhelming situation, but it’s also a great learning experience because startups have the agility to learn and adapt quickly. Daniel and his company are a great example of that.

You’re never too small to start exporting, you just have to know where your gaps and tap into the right resources that can help you.

How do you determine which markets to start exporting to?

I caution companies to get focused on their target market and don’t take on too many markets at the same time. That can often be a recipe for disaster.

As mentioned, many companies start exporting to fulfill orders that have come to them through e-commerce or a random request in their inbox. But there can be a tremendously steep learning curve.

The vendor may not be set up to ship internationally and may not understand customs procedures or local requirements for labeling and packaging.

So, if we take that strategic approach to market expansion, are there certain types of markets that are good testing grounds for first time exporters?

Many Canadian businesses start their international expansion in the United States where there’s cultural affinity and we conduct business in similar ways.

One resource that comes to mind is called the New Exporters to Border States (NEBS) program run by the Ontario government which helps businesses who are exploring the U.S. market. If a company is going through the readiness stage, they can go to the U.S. for a two day program and get all of the details about crossing the border from currency exchange to tax and legal issues.

Through this program the businesses can gain that knowledge firsthand, they can for example, go to Buffalo for two days and meet with all of the officials who can help facilitate the logistics in that market.

There’s a plethora of information online through government websites here in Canada, and I find industry associations have really good information on foreign markets for companies looking at getting into a sector.

But then there’s always those unexpected orders that come and companies have to evaluate them. Having somebody focused on the research is very important, whether that’s an internal employee or engaging a consultant to do that.

Hiring a research consultant can be extremely important, in my experience, for a smaller company.

Daniel, you mentioned, you started your company’s exporting journey in the United States because of unplanned opportunities to fulfill orders from word of mouth.

Was exploring that market also a strategic choice or was it just because of that unexpected demand coming in?

I was not strategic at all, I was just reacting to those opportunities. And that’s a place you don’t want to find yourself in when it comes to exporting.

So often in business, you have this checklist and this plan, and then boom! Something else just side tracks it. That’s what happened to me in many cases, and I was not necessarily ready.

For example, I’m also an author and with my book sales, I said “I’m open to the world!”

I learned you have to be careful of just saying that you’re open to selling internationally, because I was selling my book for $9 and I got an order from Vienna. Long story short, by the time I shipped that and got it to the customer it cost me $85. It was either that, or they had to wait like five months to get the book.

Logistically for you, you need to know if you are entering the best market from a sales and marketing standpoint. Explore where there are trade agreements between your home country and that market or that country that you’re trading into.

We didn’t know about the HS codes that we needed to declare and put on our packaging, and we got hit so hard with this influx of information that we weren’t prepared for.

If I was to do it again, I would have found people who have experience – and I would have started with FITT courses and the Trade Accelerator Program.

These kinds of resources have helped to make me aware of the things that I don’t know about exporting and importing.  And that’s what I didn’t do before, so if I was to do it over again, making that commitment from a management standpoint to do the research, learn about the shipping logistics.

Start by getting training, attending workshops virtually, doing your online research, reading books – it will all make you feel so much more ready and give you a psychological confidence to start exporting.

Before I did that, I was getting to a place where I didn’t want orders to come in anymore, because I felt like I was just going to mess it up. But once you feel ready, you get more aggressive in doing business and getting sales and facilitating those orders. Then your customer service kicks in and that’s when business starts to thrive.

Something that sometimes happens when companies enter big markets – it’s that idea that a big country like the U.S. or Mexico is one market. It’s a fallacy, I’ve seen so many companies think that they’re into the market and really they’ve only got a little bit of a foothold in a particular city. We have to realize that there are difference markets within these big countries from region to region and different cities. That has to be explored as part of your analysis.

I’ve been teaching here at the Telfer School of Management and in the MBA programs in many universities. Within these types of programs the students often undertake international research projects for companies as a learning experience. These can be a sort of a free service, and a great resource that I would highly recommend to assist with your market research and analysis.

Stay tuned for the next article in the Ready. Set. Export. series – “Adapting your products and services”

Sustainability is one core component of an effective supply chain. Fortunately, modern tools, devices, and software, such as the Internet of Things (IoT) and blockchain, are streamlining how we balance these systems. With highly transparent and secure networks, we stand to improve the overall sustainability of supply chains for cleaner and more lucrative results.

The IoT and blockchain support sustainable supply chains in a variety of ways. By exploring these sustainable functions and how you might integrate them into your business processes, you can build the supply chain stability you’re looking for in an uncertain economy.

IoT provides data transparency that supports decision-making

The Internet of Things is the term given to devices that collect data and then communicate that data over the internet. IoT devices range from industrial sensors to wearable devices, all with various implications when it comes to the functionality of a supply chain. These implications are far-reaching across transportation and supply chains and would not be possible without the world of big data that the IoT taps into and makes useful.

IoT is instrumental, for instance, in developing eco-friendly, efficient fulfillment center strategies. That’s because these processes rely on the kind of big data transparency that only the IoT can offer on a scale that reverberates through the entire supply chain. The IoT enables accurate tracking methods, consistent protocols, and data analysis that all stand to change supply chain decision-making for the better.

Many companies have already experienced the sustainable benefits that come through industrial IoT. Shipping line giant Maersk, for example, built an infrastructure of sensors and mobile and satellite communication technology with the help of Ericsson to monitor its fleet of 300,000 refrigerated produce containers. The increase in transparency of container conditions led to a decrease in necessary inspections. This, Maersk says, means reduced resource use and even CO2 emissions.

As we have seen, the IoT supports supply chain flexibility in the following ways:

• By improving supply chain transparency
• By improving system efficiency
• By reducing resource consumption

As you explore the use of connected devices in your supply chain, consider these benefits. But also understand that with more connected devices, you present your company with more digital security risks.

Want to learn more about managing your company’s supply chain? Take the FITTskills Global Value Chain course here.

Blockchain protects data from interference

Connectivity offers us much in terms of actionable insight and effective communication. And yet, digital threats are a huge concern for supply chain companies. In one infamous example, Target became the subject of a data breach through its vendor and had to inform 110 million customers of their potentially stolen credit card data.

It is precisely attacks like these that make it necessary for supply chain companies to protect themselves against all the threats of the digital world. Malware opens up the gates to your data. From there, you stand to suffer incalculable losses from the damage to your reputation alone. Blockchain systems, however, are changing the playing field with enhanced security measures for protecting data.

Blockchains are decentralized data systems designed for cryptocurrencies like Bitcoin. They store data in nodes linked by cryptographic hashes. Now, blockchains are being integrated by companies like FedEx to improve the traceability of their packages because blockchain can store a (mostly) tamper-proof record of inventory locations and conditions.

With greater accuracy in a record, any data breach can be caught and prevented more efficiently. Simultaneously, these improvements offer much greater sustainability potential through their ability to pinpoint spoiled products or remove recalls with greater precision. Supply chain companies that can track inventory can more effectively reduce waste.

In this sense, blockchain and the IoT fulfill similar functions and offer similar benefits across a supply chain. In fact, utilizing these technologies in tandem can be a great way to maximize supply chain potential.

IoT and Blockchain streamline security and sustainability

The IoT offers unprecedented insight into business functions and supply chain conditions. But traditional networks for hosting this data present all kinds of digital threats. That’s where blockchain can come in to help improve the security of an IoT network and provide new business potential.

Blockchain is unique in its use of servers in various locations to host, protect, and backup data. To infiltrate such a system typically requires absurd amounts of computing power. By leveraging the power of the IoT to assemble supply chain insights, then protecting those insights on a blockchain, you can build greater accountability and security for your supply chain. From here, sustainability becomes easy.

That’s because sustainability means longevity without damage. Getting there requires insight only accurate data records can provide. Apply the IoT and blockchain as you assemble the information architecture needed to streamline a supply chain, and watch cost and resource-saving opportunities open up across your ventures.

“We are committed to helping farmers with strategic on-farm investments that improve their bottom line and generate sustainable economic growth. These cost-shared investments will not only build a stronger, more innovative agriculture sector in Ontario but support the prosperity of rural communities across the province.”
– Honourable Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food

This intake will help agri-food producers make food safe and secure, escalate the health and wellbeing of livestock, and bring top-of-industry products and services to market quickly.

“Our government is investing in these projects to help farmers and other businesses adopt innovative solutions that help increase their productivity in the agri-food sector. When we invest in the agri-food sector, we’re supporting the industry in creating good jobs and economic growth, which strengthens Ontario’s economy.”
– Honourable Lisa Thompson, provincial Minister of Agriculture, Food and Rural Affairs

The Canadian Agricultural Partnership (CAP) began in 2018 and has strengthened and grown the agriculture sector for producers by providing programs and services to help agricultural businesses in Canada grow with variants of funding available through both federal and provincial sources. Moreover, CAP is a five-year initiative committed to an investment of $3 billion in the agri-food and agri-products sectors.

Funding amount

Applicants may receive between 25% to 50% of funding from the CAP Ontario Producer Stream depending on the project focus. Some projects may receive up to $100,000 in grant funding support. Learn more about funding opportunities for CAP Ontario producer applicants.

Applicant eligibility

The CAP Ontario Producers Stream is a highly sought-after program for agriculture producers because the eligibility criteria for this program are quite general. Eligible applicants for the CAP Ontario Producers Stream will fulfill the following criteria:

• File business and/or farm income loss taxes in Ontario;
• Have a valid Farm Business Registration Number (FBRN), unless exempted; and
• Have a Valid Premises Identification (PID) Number.

To see more eligibility criteria, visit the CAP Ontario program page. If your business is eligible for this program, consider visiting this comprehensive list of funding opportunities for agriculture businesses.

Eligible projects

CAP Ontario Producers Stream applicant projects must fit in an identifiable project category. Projects generally fall under at least one of four broad areas:

1. Business planning and improvements;
2. Equipment improvements;
3. Safety and traceability improvements; and
4. Farm improvements.

Please note that applicants can have up to two active projects if they are both submitted through separate applications. This list offers popular projects for the CAP Ontario Producers Stream and their corresponding funding allotments for approved applicants:

• Enhanced Biosecurity for African Swine Fever Preparedness Initiative: 50% of eligible expenses to a maximum of $40,000.
• Please Note: this project has an application deadline of December 3, 2021.
• Traceability System Improvements (Animal Health): 50% to a maximum of $60,000;
• Food Safety and Traceability System Improvements: 50% to a maximum of $60,000;
• Preventing Introduction and Spread of Pests Through Isolation, Sanitation, and Controlling Workflow: 35% to a maximum of $50,000;
• Preventing Access by Wildlife, Pests, and Rodents: 25% to a maximum of $50,000;
• Selling to Export Markets: 35% to a maximum of $50,000;
• Market Products in Canada: 35% to a maximum of $45,000;
• Technology and Equipment to Improve Labour Productivity: 35% up to a maximum of $100,000; and
• Other Businesses – Preventing Introduction and Spread of Pests Through Isolation, Sanitation, and, Controlling Workflow: 35% to a maximum of $50,000

To learn more about individual projects and their eligibility, you can refer to the CAP Ontario producer-guided search.

Program Timelines

CAP Ontario Producers Stream applicants may apply for the program beginning on November 15, 2021. The next intake deadline is December 6, 2021. Applications will take about three months to be approved after the submission date.

Please Note: The application deadline for the Enhanced Biosecurity for African Swine Fever Preparedness Initiative will be December 3, 2021.

The CAP Ontario Producers Stream allows for deposits prior to approval. However, businesses cannot receive or fully pay for the equipment until they have been approved.

Get Started with Government Funding

The Canadian Agricultural Partnership Ontario Producers Stream is a valuable opportunity for Ontario organizations in the sector. However, there are many more funding programs available for agriculture. If you are looking for more than simply agriculture programs, visit this full-scope government funding program directory.

Businesses can also visit this comprehensive government funding resource page which provides a variety of useful resources to get you started. To read more about programs, strategies, and success stories, visit the MentorWorks news channel for everything government funding.

That’s why, last week, Startup Canada hosted a Twitter Chat with FITT and an all-CITP®|FIBP® (Certified International Trade Professional) panel of business experts. These seasoned professionals gave practical advice on “How to weather-proof your business.” With varied markets, supply chain disruptions and so many other hurdles in the international business landscape right now, they offered up international market entry strategies, risk-mitigation techniques, and personal stories on how to best navigate these waters.

The Twitter Chat featured:

Daniel Lewis, Author, and International Speaker, CITP
Lora Rigutto, Loyalty and Engagement Manager, FITT, CITP
Craig Atkinson, Founder and Director, Lexmerca International Trade, CITP

Question 1: Staying agile and adaptable

The chat started off with this question: “Business is always changing, but some changes, we never see coming. How do you stay agile and adaptable?”

CITP Lora Rigutto had sage advice about upskilling and updating your knowledge in different areas of business.

While CITP Daniel Lewis answered with the following:

“To stay agile and adaptable I suggest diversifying and developing your skills. Become more knowledgeable about your products, industry, or new industries to gain a competitive edge. Consider becoming an educator, expert, or content creator in your field.”

While I was building my tea business over the past 10 years, I also found opportunities to put myself out there as a Public Speaker and Brand Strategist. When the pandemic hit and rattled my supply chain, I switched on my virtual keynotes and brand strategist superpowers. As a result, I have been able to weather the storm and still generate good business. #StrategicPivot—Daniel Lewis, Author, and International Speaker, CITP

Meanwhile, CITP Craig Atkinson talked about remaining on top of your sector specifics: “I think the best way to stay agile and adaptable is to stay abreast of what is going on in your sector and the potential impact of disruption. Adaptability depends on having a business structure that is flexible.

The second question prompted some excellent advice as well:

Question 2: Planning for global growth

Daniel Lewis chimed in first, suggesting that businesses need to start by asking the questions “why?”:

” I always suggest starting with ‘WHY?’ Whether starting or expanding your business internationally, asking WHY first can provide you with all the reasons (or lack thereof) for a specific course of action. WHY are you expanding?  WHY now?  WHY this market?”

“At the same time, I decided to polish my professional image and sharpen my international business knowledge by becoming a #CITP. With these tools on my belt as a foundation, I was ready to rock n roll!”

“If your WHY is compelling enough, then you can get to the HOW? Approached my global growth plans by first going through international business training where I developed an export plan to better materialize my goals and ambitions.”

Meanwhile, Lora Rigutto gave this nugget of wisdom:

If you fail to plan, you plan to fail. You need to determine how to move goods or deliver services to a target market, overcome regulatory or cultural hurdles, and use market entry and international sales and marketing strategy with clear and measurable sales and marketing objectives.—Lora Rigutto, Loyalty and Engagement Manager, FITT, CITP

Question 3: Weather-proofing and risk mitigation

Question three, “How do you weather-proof your business your own business as you grow globally?” got down to the details and surfaced some great insights, including notes on addressing knowledge gaps from Lora Rigutto.

Daniel Lewis, on the other hand, talked about creating multiple contingency plans with an “If this” guide:

Question 4: Risk and business

Question four addressed an important reality about business: that it always comes with risk.

There were multiple answers for this one from panelists and participants alike:

Question 5: How to expand

Question five dove into global expansion, a quintessential topic for SMEs, and it garnered advice that ranged from influencer adoption strategies to joining trade shows and trade missions.

Question 6: When to expand

Knowing exactly when you’re ready to expand your business is critical for success, and that’s what question six tackled:

Questions 7 and 8: Economic risk and opportunity

While questions seven and eight talked about economic risk and the opportunities they present. Panelists and participants recounted their experiences during the pandemic and how they used these to create opportunities for themselves:

Final Thoughts and Questions

And with that, the official questions were over and the panelists and participants were given an open mic to talk about topics, such as their CITP experiences:

And the single most important thing they did to weather-proof their business over the past year:

A fantastic gathering of great business minds, the Startup Chat gave emerging entrepreneurs and SMEs a lot to think about, in addition to access to Startup Canada and Startup Global’s plethora of resources, contests, and funding opportunities too.

Learn more about Startup Canada’s Startup Global Portal here: http://ow.ly/OBns50FXewH

Don’t forget, once you register, you can access several FITT presentations, workshops, videos, and even a discount on FITTskills training.

The Jobs and Growth Fund (JGF) is a new $700-million federal government funding program that aims to support Canadian economies with long-term growth and jobs creation following setbacks from the global COVID-19 pandemic. Also, JGF includes up to $70 million for small businesses established after January 2020.

“By investing in our job creators and the organizations that support them, the Jobs and Growth Fund will help to create quality jobs, pursue inclusive and clean growth opportunities, and empower businesses and communities from coast to coast to coast.”
– Mélanie Joly, Canada’s Minister of Economic Development and Official Languages.

These businesses must meet the program’s eligibility criteria. Highlighting this is crucial, as most grant and loan programs need businesses to be well established, meaning there is less funding for startups and entrepreneurs.

JGF financial support is being administered by Canada’s regional development agencies, including FedDev Ontario for Southern Ontario applicants and Western Economic Diversification Canada (WD) for applicants in Western Canada.

Funding snapshot: Jobs and Growth Fund (JGF) for Ontario and Western Canada

Applications are now being accepted on a continuous intake basis until March 31, 2024, or until funding is fully allocated. The Jobs and Growth Fund (JGF)  supports projects that stimulate job creation and long-term growth for Canadian organizations through a diverse focus on rebuilding the Canadian economy following the trials and tribulations of the COVID-19 pandemic.

Funding amount

• Eligible businesses may receive interest-free repayable contributions for up to 50% of eligible costs
• Eligible not-for-profit organizations could receive non-repayable contributions for up to 90% of eligible costs
• Eligible Indigenous organizations may receive contributions for up to 100% of eligible project costs
• Project contribution amounts do not normally exceed $10 million

Applicant eligibility

• SME Businesses, including co-operatives
• Not-for-profit organizations and community economic development partners
• Indigenous organizations

Eligible projects

To be eligible for the Jobs and Growth Fund, projects must:

Strengthen the capacity in sectors critical to Canada’s recovery and growth:

• Support scale-up and market expansion activities
• Develop emerging areas of global competitive advantage
• Support supply chain adaptation and diversification opportunities in critical sectors such as food production, medical supplies, and biomanufacturing

Foster an inclusive recovery:

• Support businesses owned or majority-led by underrepresented groups
• Increase the participation of underrepresented groups in the economy by supporting not-for-profit organizations that provide funding, business services, training, etc. for a more equitable workforce

Preserve Canada’s competitiveness and future-proof SMEs through digital adoption:

• Support the development or adoption of digital and technological solutions (i.e. Industry 4.0) to increase and promote business productivity
• Invest in technologies that help scale businesses, enhance their capabilities, and increase resilience

Support the transition to a green economy:

• Support the development and adoption of clean technology
• Help communities and businesses plan and drive clean, sustainable economic growth
• Partner with organizations to catalyze the development of green regional clusters
• Work with organizations supporting businesses to transition to a green economy

Program timeline:

• Applications will be accepted on a continuous basis until all funding is allocated.
• Certain costs may be eligible on a retroactive basis up to 12 months before the receipt of the project application, but no earlier than April 19, 2021.
• All projects must be completed prior to March 31, 2024.

If your Ontario or Western Canada organization wants government funding through the Jobs and Growth Fund (JGF), please reach out to the Mentor Works team to help streamline the application and grant writing process.

Government grants and loans for COVID-19 recovery

Although many Canadian provinces are no longer in strict COVID-19 lockdowns, and national vaccination rates are higher than any other country, many businesses across Canada are still feeling the negative impacts of the virus.

In addition to the new Jobs and Growth Fund (JGF), there are other government programs dedicated to providing COVID-19 relief and recovery funding. Stay posted on the Mentor Works COVID-19 Funding Programs Page for resources, news, programs, and COVID-19.

Canadian employers, specifically, can receive up to 50-70% of an intern’s wage to a maximum $5k-$7k, or up to 50% of a recent graduate’s wage to a maximum $12k-$15k in hiring grants.

Spring and summer are the ideal times to use these incentives since there is a large youth talent pool during these times and funding programs are generally open to applications. Since many hiring grants operate on a first-come, first-served basis, interested employers should start the recruitment process as soon as possible.

Hiring grant options and how they work

While many Canadian businesses know that hiring grants and wage subsidies exist, few understand how they help, how they impact the recruitment process, or what they must do to access funding.

Most hiring grants and wage subsidies in Canada are directed at two types of hires:

1. Recent post-secondary graduates being hired into full-time, permanent positions.
2. Student interns being hired into temporary roles that provide relevant work experience.

Hiring incentives are provided to employers for a couple of reasons. For students and recent graduates, paid work experience provides relevant, meaningful job experience that leads to a greater understanding of their strengths and interests. For employers, internships and first career opportunities give their business access to a young, energetic audience that can grow within their company.

How much can employers receive in grants for graduates or co-op students?

When hiring recent post-secondary graduates, employers can receive up to 50% of the hire’s wages to a maximum of $12,000 to $15,000.

When hiring co-op students, employers can receive up to 50% of the intern’s wages to a maximum of $5,000. This increases to 70%/$7,000 if the intern is part of an under-represented group, such as women in STEM or newcomers to Canada.

How hiring grants fit into the recruitment process

Now that you know the options available when it comes to hiring grants, it’s important to illustrate how they fit into optimizing the recruitment process. Following these steps can help simplify the application process and maintain your funding eligibility:

1. Develop a candidate pool for your position.
2. Screen job candidates and select one person or more to tentatively fill the position(s).
3. Apply for hiring grants, matching the position and candidate to a relevant funding program.
4. Wait approximately five business days for the government’s response with the funding decision.
5. Hire the candidate and complete any additional documentation needed.

After funding is in place, you can formally provide an employment offer to the candidate.

Also, be aware that hiring a candidate and placing them on payroll prior to government funding approval can significantly complicate the process and often leads to applications being deemed ineligible.

Receive support to identify and apply for hiring grants

With so many funding programs available, it’s often best to reach out to a specialist who can discuss your specific hiring needs and identify a program that works best for your company.

Contact Mentor Works to discuss your eligibility, identify the types of incentives providing support, and optimize the application process.

Mentor Works is a business support organization specializing in Canadian government funding. The Ontario-based business has helped hundreds of businesses build and execute their funding strategy through a mix of federal and provincial government grants, loans, and tax credits. Mentor Works offers free online resources, funding webinars, and news via their website at www.mentorworks.ca.

This week we’re celebrating International Women’s Day and trail-blazing women in business. FITT is proud to provide business training for the next generation of female leaders.

This year’s International Women’s Day theme was #ChooseToChallenge, a mantra that suggests a “challenged world is an alert world,” according to the official website. The words are apt, considering that this past year has created immense challenges for women in the workforce as a result of COVID-19.

A report by McKinsey & Company found that over the course of the pandemic women have been more likely to have been laid off or furloughed while mothers have had the brunt of parenting responsibilities while working through mass childcare closures.

Unsurprisingly, this has led to an increase in many females stepping away from their career advancements, either temporarily or permanently, setting back the progress that they and the broader collective of women have made in the past years.

The pandemic was also top of mind for UNWomen.org, whose theme for International Women’s Day was “Women in leadership: Achieving an equal future in a COVID-19 world.” Their focus for 2021 was on “the tremendous efforts by women and girls around the world in shaping a more equal future and recovery from the COVID-19 pandemic and highlight[ing] the gaps that remain.”

Clearly, especially now, there is still much work to be done for women and the fight for equality, but there is also much to celebrate as progress is slowly blooming from tackling these issues. During the pandemic, for example, many governments around the world created funding, resources, grants, loans and initiatives to support female entrepreneurs with business recovery. The general public also saw the clear gains that all citizens make when women are supported, empowered and in positions of leadership—as was the case with New Zealand’s COVID-19 recovery efforts led by their female Prime Minister, Jacinda Ardern.

In fact, UNWomen.org reports that women-led countries have collectively fared better with their pandemic responses than male-run countries overall. These types of milestones are great cause for celebration.

Bearing this information in mind, we’ve got a few more stats about female leadership and women in business to keep you inspired for the road ahead. Here they are:

1. 41% of active Certified International Trade Professionals (CITP®|FIBP®) are women.

2. Prior to the pandemic, being a leader was an attainable professional goal for a majority of women, according to a study by KPMG. Specifically, in their report, they found that “six in 10 women (64%) aspired to be a senior leader of a company or organization in the future, and more than half (56%) of women aspired to be on the board of a company or organization.”

3. In the same study, they found that women who were encouraged to be leaders were more likely to become senior leaders than those who were not (26% vs. 15%).

4. 67% of women in the KPMG research also said they had learned the most important lessons about leadership from other women.

5. 82% percent of professional working women in the same study believed that access to and networking with female leaders would help them advance in their career.

6. According to the Canadian Women’s Foundation, “as of 2015, 35% of Canadian women had a university certificate or degree, compared to 30% of men.”

7. The same foundation also found that “women and men also tend to have nearly equivalent job tenure. In a national study, both women and men report having worked for their current employer for an average of just under eight years.”

8. According to the International Women’s Day website, “Over 87% of companies are highly committed to gender equality—a huge increase from 56% in 2012. A commitment to equality often comes from senior leaders, management and male employees.”

9. According to The International Labor Organization, in Jordan, Saint Lucia, Botswana, Honduras and the Philippines, females are more likely to be bosses than men. Jordan, specifically, found that 62 percent of their managerial positions were filled by women.

10. A report by McKinsey & Company found that, at the start of 2020, representation for women in corporate America was trending upward, particularly with senior management positions: “between January 2015 and January 2020, representation of women in senior-vice-president positions grew from 23 to 28 percent, and representation in the C-suite grew from 17 to 21 percent.”

11. KPMG  asked women what advice they’d give to future female generations and found that “more than two-thirds of respondents indicated confidence—being confident in their capabilities (75%) and confidence to ask for what they deserve (67%)—[was] the key advice they would pass along.”

12. FITT’s senior leadership positions are all held by women, with the CEO and President, Caroline Thompkins, celebrating her 25th anniversary this year.

With much work to do and many women and men pushing for greater gender parity in the workforce, we salute those who keep pushing the needle in the right direction.

Diversification is crucial, even more so in the current global business climate where instability is increasing. When looking at new markets to pursue, the African continent offers many opportunities through its various markets, regions, and growing economy.

FITT and Africa Business Venture have partnered to help the international trade community gain knowledge and prepare to launch or grow their businesses with confidence anywhere in the world. Together we will be launching new initiatives to help businesses diversify and learn about valuable market opportunities within the 54 African markets and beyond.

Sonia Galat, Director of Africa Business Venture and Founder of Pacific Trade Global Carolina Vasquez, discuss the key elements to consider when entering new markets, and explore valuable countries in Africa for businesses to consider as they determine their next move.

Sonia: Let’s start with diversification. What does it mean and why is it so important for businesses especially right now?

Carolina: It’s a risk reduction strategy that involves adding products, services, customers and markets to the business portfolio of the company. It’s important to remember, don’t put all your eggs in one basket. If for some reason, one single market fails – success in others elements of our business portfolio will reduce the impact on the business, especially in situations like COVID-19. It’s very important to have a diversification strategy.

Watch Sonia and Carolina’s full interview

Sonia: Can you give me a bit of insight into what the starting point is? And how should businesses prepare to enter new markets?

Carolina: Well, entering a new market requires time, research and a lot of patience for businesses to be successful. Market research is the most important task. Don’t make assumptions and take the time to do a detailed market analysis or else your product or service could fail in a new market.

Understand the cultural taste preferences, the laws and regulations, and where your product will have a competitive advantage. Consider all the factors that might affect your business in order to mediate and to reduce the risk in that new business venture.

The business owner needs to be familiar with the entire process, and the more they understand the whole process for the product to get to that new market, the better they will be aware of the challenges and how to deal with them.

You don’t have to learn all these things the hard way, and that’s why training is so important.

Sonia: What are some of the strategies businesses can use to enter new markets, and how can they select the right strategy, especially when they want to go to emerging markets such as Africa?

Carolina: Businesses can build all their product service offering using their own resources in that target market, or they can collaborate with partners that are already established in that market to form a strategic alliance. They can also work with a representation agency or distributors. And the advantage of that is that those partners are already there and know the market and the regulations that may apply to your company’s product.

Carolina: Sonia, I understand you advise clients on entering African markets. What are the most common myths that you hear from people about doing business in Africa?

Sonia: There are some persistent myths indeed when it comes to Africa. The first myth is that Africa is a country.

People tend to forget that it’s actually 54 countries, with 54 different markets and sets of regulations. So every time a company is looking to go to Africa, I always ask, where exactly do you want to go?

The other myth I want to talk about is that it’s too complicated to do business in Africa. Yes, it’s not always easy to do business in Africa, but this is the same thing as going to any emerging market. You will have some challenges that you need to learn about to mitigate the risks. So those are the main myths, which can be easily mitigated with good preparation and a willingness to learn.

Carolina: In your opinion, how can companies prepare to export specifically to Africa? How can they select the country/market to enter?

Sonia: I think the first thing that companies have to do is educate themselves. There are lots of great resources out there to do that with. On the Africa Business Venture website, we’ve got a lot of articles, industry insights, podcasts and other resources that can really give a deep understanding of and knowledge about Africa and the way to do business in Africa. Another great resource is the World Bank’s website, where they provide reports on the ease of doing business in African countries.

The second element to how to get prepared to export to Africa is to tap into your local network. Reach out to your local chamber of commerce or a foreign chamber of commerce near you, or simply reach out to your state agencies.

A lot of people don’t know that they can contact embassies abroad and simply ask them, “how can I enter that specific market?”

The final element is, more than in any other region in the world, you need to develop a local network. This is where intermediary research such as Africa Business Venture resources, but also local firms or consultancy firms can really help you with the local knowledge that can really help you in terms of implementing any project.

Carolina: In which markets in Africa are you seeing opportunities for businesses today?

Sonia: I could spend hours talking about that, but because as I said, its 54 countries, it really depends on your industry. So, if you’re in consumer goods, you will tend to go to the largest consumer markets in Africa, which are Nigeria and South Africa. But in general, for consumer goods, you’ve got a rise of the middle class, but they are underserved in terms of products that they can purchase.

If you are in renewable agribusiness and infrastructure development in general, well Africa is game on in the sense that all of the African countries do have the same issues, which are a poor network, poor infrastructure and low access to electricity. So there are plenty of opportunities for companies, and one way to tap into that potential is to go through tenders that are issued by local governments.

If you have a company that is involved in agribusiness, for instance, you will also be more than welcomed.

A trend we see in African countries is the necessity to transform agricultural products into finished goods. So there’s more and more willingness to welcome foreign investors to create local manufacturing.

East Africa including Kenya and Rwanda are hubs for FinTech and tech solutions opportunities. What a lot of people don’t know is that Rwanda would like to become the laboratory of Africa, and very welcoming to new tech solutions.

Carolina: There is also an Africa Continental Free Trade Area (ACFTA). What is this area? And what does it mean for businesses?

Sonia: In terms of international business development, ACFTA is the biggest trade deal that has ever been signed. It has been signed by 54 countries and the purpose of it is to create a trade bloc similar to the European Union, but for the African continent. It was signed in 2019, but currently there are about 30 countries that have ratified the agreement. What is amazing with this trade agreement is that governments finally recognized the need to have a common set of rules regarding the transport of goods and individuals among each other.

Africa is a continent that is exporting a lot, but actually the trade within the continent is minimal. And this is because, as I mentioned, it’s 54 countries with 54 different sets of regulations and that makes it very complicated for businesses to tap into opportunities. Now with this trade agreement, they are definitively targeting those issues, integrating the markets. And that will make it even more interesting for businesses that position themselves right now to tap into those new markets.

Africa Business Venture is an organization dedicated to working with businesses entering African markets, connecting them with local expertise, advice and solutions. They allow companies to take advantage of new opportunities in Africa using their exclusive online platform and deliver a secure environment to help companies manage risks and unlock Africa’s value.

Want to know more?

Learn how to plan for market entry and explore opportunities for your business in Africa.

To identify new markets and potential opportunities, or eliminate unsuitable markets, researchers should first examine macroeconomic data. Macroeconomics refers to research into the overall aspects of a country’s economy, including income, national output and the interrelationship between economic sectors.

The economic characteristics of an international market are conditions that organizations cannot control. If an organization cannot contend with these characteristics, or if the characteristics mean that a product or service is unlikely to be suitable for that country, then the market can be discounted as an opportunity or the organization can investigate methods of adapting to the market.

The macroeconomic features of a potential host country can be divided into several areas for research:

1. Gross national product (GNP)

The market value of all final goods and services produced by the nationals of a country in an annual time frame. GNP is often used as a measure of the size of a country’s economy, and incorporates income derived from overseas activity.

2. Gross domestic product (GDP)

The market value of all final goods and services produced in a country or region in an annual timeframe. GDP per capita is often used as a measure of the standard of living in a country.

3. Purchasing power parity (PPP)

Compares the purchasing power of different currencies in their domestic countries and is often used as an alternative to GDP figures for measuring the standard of living in a country. PPP is calculated using the amount of domestic currency needed to purchase a similar collection of goods in different countries.

4. Household disposable income

This is the average amount a household in a country has to spend after taxes and payment of essential items, such as housing costs and utilities.

Looking to determine if your new trade opportunities are viable? Check out the FITTskills Feasibility of International Trade online course!

5. Market size

The market’s total number of buyers. The larger a country’s population, the larger the potential customer base.

6. Market potential

Describes how many people or businesses in a country could realistically be expected to purchase a product or service.

7. Market resources

The presence of natural resources in a country will have an impact on international business success. The presence of resources such as oil, soil, timber and minerals increases a country’s wealth and leads to increased development of infrastructure.

It is also important for exporters to consider the geography and climate of a potential market country, because both have an impact on the transportation of goods and dictate which products or services are likely to be purchased.

For organizations considering sourcing goods from an international market or setting up a production site in a foreign county, the presence of resources needed for production processes will be essential for success.

8. Market activity

In some cases, organizations will need to investigate the major economic industries present in a specific country. For example, an organization wishing to sell building machinery might need to check whether a potential market has its industry centered on agriculture rather than industry.

9. Infrastructure

A country’s infrastructure, such as the transportation network, the distribution of cities and major centers, and the extent of the national power supply, will have an impact on the distribution of goods or services and the costs involved with distribution.

In some cases, this information will also indicate a need to adapt a product or service (because the supply of electricity is intermittent, for example), or will indicate the unsuitability of exporting to that market.

Information about a country’s infrastructure will also give an idea of how effective business communications might be (for instance, the availability of telephone, Internet and mail services) and how easy it will be to travel to the country for meetings and to monitor business activities.

10. Urbanization

The amount of urbanization in a country is a measure of that country’s demand for certain goods and services and its income levels. In general, workers in urban areas are paid higher wages than workers in rural areas.