In the Globe and mail online, an article conceerning Canadian small business was released the 3d of june. John Shenkman, president of Bivio Events Inc (organizer of the first annual Expand in the USA conference in Missisauga) gives five reasons why Canadian small businesses should expand to the U.S.
Here they are :
1. Unlike other overseas markets, the U.S. marketis picking up steam and the greenback is strong. In fact, the American economy is on track for its best year since 2005, according to the International Monetary Fund.
2. The U.S. market, while very different, is closer, more accessible and more familiar than others. That cultural familiarity, geographic proximity and strong historical connections make establishing a business relationship south of the border far less daunting.
3. There are plentiful sources of capital right now, on both sides of the border, looking to finance growth south of the border. Whether it’s private equity funds or family investors, people have moved on from 2008 and are ready to invest again.
4. There is a major shift occurring in a number of industries, such as automotive and aviation manufacturing, diverting operations from Canada to the U.S. and Mexico. This presents an opportunity for Canadians to capitalize on growing markets, while keeping strategic planning functions in Canada.
5. Last but not least, success in the states often leads to success in other export markets. Building a business infrastructure there is a perfect launch pad to expand to other economies, such as India, which, the IMF predicts, will be the fastest growing economy in 2015 along with the U.S.
Sources : The Globe and Mail
The full article is here