NorthBridge Consultants Blog

Trade Show Funding Deadline Extended

The Ontario Chamber of Commerce has released an update to the Export Market Access (EMA) program informing applicants that they will be accepting applications for trade shows that occur before June 30, 2017.

Do you have a global mindset but think your company is too small to be an exporter? Well, think again.

Recognizing that some companies naturally have a global mindset early on in their development, the EMA program was established to help small- to medium-sized enterprises (SMEs) access and expand their growth in foreign markets.

Through the EMA program,  companies can receive funding of up to 50% for a maximum of $30,000 towards eligible activities including international trade show attendance, development of marketing tools, investment in market research, and participation in foreign bidding projects.

Interested applicants are encouraged to review the new Application Guide, released in January 2017, to ensure that they meet eligibility requirements, or contact our government funding experts directly, for a free consultation.

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Federal Budget 2017 Highlights

Federal Finance Minister Bill Morneau’s second budget, tabled on March 22, 2017, forecasted an increase in the 2017-2018 deficit from $25.4B (projected in the fall) to $28.5B. Deficits are expected to decline gradually to $18.8 billion by 2021-2022.

There were no proposed changes to the corporate income tax rates or to the $500,000 Small-Business Deduction Limit for Canadian-controlled private corporations (CCPCs).

Budget 2017 provides a platform for the anticipated Innovation Agenda by proposing several new initiatives including:

Skills Development

  • $2.7B over 6 years for skills training programs through labour market transfer agreements with the provinces and to expand eligibility relating to Employment Insurance (EI) skills training/employment support;
    • Programming, and/or metrics to measure performance, will depend upon negotiations with provinces;
  • $225M over 4 years, starting with $75M in 2018 and an additional $75M per year thereafter, to establish a new agency to research and measure skills development;
  • $7.8M over two years, starting in 2017, to implement the new Global Talent Stream under the temporary Foreign Worker Program, and to introduce a new work permit exemption for short-duration work terms under the Global Skills Strategy;
  • $287.2M for a pilot project taking place over three years, starting in 2018-2019, to increase mature student access to government student grants and loans;
  • $395.5M, over three years for a youth employment strategy; and
  • $50M over two years to support initiatives aiming at teaching students to code.

Innovation

  • $950M, provided on a competitive basis over 5 years starting in 2017, to support business-led “superclusters” in clean technology, advanced manufacturing, digital technology, health/bio sciences, clean resources, and agri-food;
  • $125M to launch a pan-Canadian Artificial Intelligence Strategy to be administered by the Canadian Institute for Advanced Research (CIFAR); and
  • $2.2B to accelerate growth in Clean Technology, of which $1.4B will be provided through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC).

Startups and Small Businesses

  • $400M to BDC over 3 years, starting in 2017, for a new Venture Capital Catalyst Initiative to increase availability of late-stage venture capital;
  • Additional private funding available through the recently announced Canadian Business Growth Fund, which was created by Canada’s leading banks and other key financial institutions to provide long-term capital through minority interests in small- and medium-sized Canadian enterprises; and
  • A commitment to review the use of tax planning strategies involving private corporations, which can result in  tax advantages.

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EMC Strategic Interest Group Networking Events in Southern Ontario

Please join us for the upcoming Excellence in Manufacturing Consortium (EMC) Strategic Interest Group (SIG) networking events in Southern Ontario on March 21st and 22nd, 2017 , which will address Financial Challenges related to Navigating SR&ED and Managing Currency Exposure. 

Attending these SIG event is a great opportunity to interact, share and discuss your best practices with your peers from other companies and learn more about:

Managing Currency Exposure
Dan Wright from Western Union Business Solutions will join us to discuss:
– Risks of foreign exchange exposure to your business.
– Solutions for foreign exchange, global payment and currency risk management challenges.

SR&ED 2017 Update and Best Practices
Jeff Mitobe, Engineering Manager from NorthBridge Consultants and Ross Cooper from EMC will be on hand to discuss and take questions around this topic:
– Understanding SR&ED and any pertinent recent changes.
– Applicable projects and how best practices around the application process.
– Round table Question and Answer portion where you may ask the experts specific questions relevant to your potential investments.

Agenda Items:

  • Welcome, Introductions & EMC Update
  • Discussion as per SIG below
  • Roundtable Networking, Plant Tour & Host Feedback (Please bring Safety Shoes)

Event Details:

DURHAM / BELLEVILLE / QUINTE & COBURG
Date: March 21st, 2017
Time: 1:00pm – 3:00pm (arrive 15min before)
Location:
Continental Conveyor is our host. Event will be held at the Strathcona Paper Center -16 McPherson Drive, Napanee (MAP LINK) Tour to follow at Continental Conveyor! http://www.continentalconveyor.ca/index.html

OTTAWA / OTTAWA VALLEY & SURROUNDING AREAS
Date: March 22nd, 2017
Time: 1:30pm – 3:30pm (arrive 15min before)
Location:
M Con Products Inc. – 2150 Richardson Side Road, Carp, ON (MAP LINK) http://www.mconproducts.com/

BROCKVILLE / CORNWALL / HAWKESBURY / MORRISBURG / SMITH FALLS / PERTH
Date: March 22nd, 2017
Time: 9:00am – 11:00am (arrive 15min before)
Location: 
Eaton Electrical – 9 Industrial Road, Perth, ON (MAP LINK) http://www.eatoncanada.ca/EatonCA/index.htm

** To register please contact Jeff Mitobe **

Going Global – Winter 2016 Newsletter

Our Winter 2016 newsletter is out!

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NorthBridge Winter 2017 Newsletter

Going Global

Trade

Editor’s Welcome — Navigating Around Trade Barriers

Venturing into new market territory is marked by risk and uncertainty, but can also bring many rewards and opportunities. For a country, increased trade can lead to greater Gross Domestic Product (GDP) per capita, higher skilled employees and technology related jobs, and lower cost of consumer products… Read more.

Trade Graph

Trade and Export Statistics

  • Canada is the 11th largest export economy in the world and the 23rd most complex economy, according to the Economic Complexity Index (ECI).
  • Despite positive growth in trade volume, the dollar value of world merchandise exports declined by 14% in 2015, to US$ 16.0 trillion, as export prices fell by 15%… Read more.
Globe

Global Trade for Canadian Businesses

There’s been an unusual amount of chatter about trade and trade agreements lately. That’s not surprising considering the prominence of trade debate in the recent U.S. presidential election campaigns… Read more.

Handshake

Reducing the Risk of Exporting

In order to mitigate various barriers and risks to trade, the Canadian government provides export financing, insurance, expertise and other business solutions to Small- and Medium-Sized Enterprises (SMEs) registered in Canada through various federal and provincial programs… Read more.

Made in Canada

Canada’s Free Trade Agreements

The Comprehensive Economic and Trade Agreement (CETA) will benefit the advanced manufacturing, agri-food, metal/mineral sectors. The European Union is the world’s largest economy, with 500 million people and annual economic activity of almost $17 trillion… Read more.

Strategic Interest Group Events in Northern Ontario

Please join us for the upcoming Excellence in Manufacturing Consortium (EMC) Strategic Interest Group (SIG) networking events in Sudbury (March 1st, 2017) and North Bay (March 2nd, 2017).

Attending these SIG event is a great opportunity to interact, share and discuss your best practices with your peers from other companies and learn more about:

  • Currency exchange uncertainties that are impacting manufacturers doing business with supply chain and/or customers in international markets. Managing this is an integral part of 2017’s day-to-day business!
  • Best practices to successfully navigate the SR&ED program, tips to maximize claim size, pitfalls to watch out for including Audit review tips for CRA Financial and/or Technical reviews.

Event Details:

SUDBURY
Date: March 1st, 2017
Location: NORCAT center, upstairs Boardroom. 1545 Maley Dr. Sudbury, ON P3A
4R7. (MAP)

NORTH BAY
Date: March 2nd, 2017
Location: Metso Minerals Canada Inc. 28 Commerce Crescent, North Bay, Ontario,
P1B 8K4. (MAP)

** To register please contact Jeff Mitobe **

Agenda Items:

  • Arrive/coffee (7.45-8am)
  • SIG (8-10am)
    • Welcome, Introductions & EMC Update
    • Presentation and discussion as per SIG below
  • Round table Networking

SIG Presentation and Discussion:

  • Foreign Exchange Best Practices
    Dan Wright from Western Union will join us to discuss:
    – successful solutions for foreign exchange, global payment, and currency risk management challenges
    – identifying foreign exchange exposure and risks to your business
  • SR&ED 2015 Update and Best Practices
    Jeff Mitobe from NorthBridge will join us to discuss:
    – update on SR&ED program changes impacting manufacturers claims
    – SR&ED claim best practices for industry, pitfalls to watch out for, and audit review tips
  • Round table
    An opportunity to ask your peers questions on any topic.
    As always, you’ll have ample opportunity to interact and discuss with your peers from other companies.
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  • NorthBridge Consultants' Government Funding Blog is dedicated to bringing businesses news and information to help them identify and access the most appropriate government funding programs.

    We offer opinions and insider information that can provide a pulse on government initiatives, the health of the Canadian economy, and firsthand thoughts from Canadian business owners.

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