Government of Canada invests up to $1.5 million to help 300 small and medium-sized businesses export to new markets
VANCOUVER, April 23, 2019 /CNW/ - When Canadian small and medium-sized enterprises (SMEs) export, they become more productive, create more jobs, grow and scale at higher rates, and invest more in research and development.
Through 14 trade agreements, including the new North American Free Trade Agreement, the Comprehensive Economic and Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Canadian SMEs now have access to 1.5 billion customers—and yet only 12% are exporting.
To increase Canada's overseas exports by 50% by 2025, the Government of Canada has taken action with a $1.1-billion Export Diversification Strategy.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion, announced an investment of up to $1.5 million in World Trade Centre Vancouver to expand its Trade Accelerator Program (TAP) to communities across British Columbia.
These investments in the TAP expansion will help 300 SMEs in British Columbia export to new markets.
The Export Diversification Strategy is a part of the Government of Canada's plan to help small and medium-sized businesses start up, scale up and access new markets.
"Our global brand is strong once again and the world wants—and needs—more Canada. Today's investment in World Trade Centre Vancouver's Trade Accelerator Program will help 300 B.C. businesses export to 1.5 billion customers made available through Canada's many trade agreements. Our government, under the leadership of Prime Minister Justin Trudeau, is delivering on our commitment to help small and medium-sized businesses start up, scale up and access new markets."
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
"We thank Minister Ng and the Government of Canada for this crucial financial support, which will enable us to build on the recent success of our Trade Accelerator Program and help hundreds of additional companies grow internationally. One in five British Columbian jobs is tied to exporting, and there exists a direct linkage between exporting, job creation, and increased productivity. By investing in programs such as TAP, businesses in our region and across the province will benefit."
– Austin Nairn, Executive Director, World Trade Centre Vancouver
- Innovation and Skills Plan
- Canadian Trade Commissioner Service
- Accelerated Growth Service
- Industrial Research Assistance Program
- Innovative Solutions Canada
- Venture Capital Catalyst Initiative
- Women Entrepreneurship Strategy
- Canada-European Union Comprehensive Economic and Trade Agreement
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership
- Canada-United States-Mexico Agreement
SOURCE Innovation, Science and Economic Development Canada
For further information: Corinne Havard, Press Secretary, Office of the Minister of Small Business and Export Promotion,[email protected]; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]