Government of Canada invests over $400,000 to mobilize Nova Scotia SMEs to export
HALIFAX, Aug. 19, 2019 /CNW/ - When Canadian small and medium-sized enterprises (SME) export, they become more productive, create more jobs, grow and scale at higher rates, and invest more in research and development.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion, along with Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax, announced a $425,000 investment in the Halifax Chamber of Commerce, in partnership with Nova Scotia Business Inc., to launch its Trade Accelerator Program (TAP). This investment is being made as part of the Government of Canada's $1.1-billion Export Diversification Strategy, which aims to increase Canada's overseas exports by 50% by 2025.
As only 12% of SMEs in Canada export their goods and services, the Government of Canada is mobilizing SMEs to export by investing in the expansion of TAP programming and services across the country to benefit a greater number of companies. During the first three years of TAP, 75% of participants entered new markets and 47% hired more staff. This partnership with the Halifax Chamber of Commerce, along with regional partners like Nova Scotia Business Inc., will see the development of TAP programming over three years for more than 100 companies in Nova Scotia, enabling more SMEs to access new markets and create middle-class jobs.
Through 14 trade agreements, including the new North American Free Trade Agreement, the Canada-European Union 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.
Investments in TAP, along with the Export Diversification Strategy, are part of the Government'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 the Trade Accelerator Program will mobilize small and medium-sized businesses to export by partnering with the Halifax Chamber of Commerce and Nova Scotia Business Inc. to ensure Nova Scotia's best become export-ready. By expanding this already successful program, we will help businesses become better positioned to access the 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
"Small and medium-sized business owners in Halifax and across Nova Scotia drive economic growth and create jobs. By investing in programs that help our entrepreneurs access new markets, we are helping Canadian businesses grow. Our government will continue to support Canada's businesses and entrepreneurs."
– Andy Fillmore, Parliamentary Secretary to the Minister of Canadian Heritage and Multiculturalism and Member of Parliament for Halifax
"We're looking forward to working with Nova Scotia Business Inc. to build on the success of its export programs. Thanks to the investment that Minister Ng announced, the Halifax Chamber and Nova Scotia Business Inc. will be able to provide our members with higher level training and support to become successful international traders and grow Halifax and Nova Scotia's GDP."
– Patrick Sullivan, President and CEO, Halifax Chamber of Commerce
"Alongside our partners, our work to help new and existing exporters scale up and sell more products to new markets outside our borders remains a priority. We are pleased to partner with the Halifax Chamber of Commerce to deliver the Trade Accelerator Program to eligible small to medium-sized businesses across the province. This initiative complements our existing suite of programs and services that are designed to help Nova Scotia companies at every stage of their export journey."
– Laurel Broten, President and CEO, Nova Scotia Business Inc.
- 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 Business App
- 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: Ryan Nearing, Communications Planner, Office of the Minister of Small Business and Export Promotion, 343-548-3934, [email protected]; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]