Posts Tagged ‘export sales’

New CanExport Program to Support Export Market Development

CanExport is a new government funding program announced on January 5, 2016 that will provide $50 million over the next five years in direct funding to Canadian small and medium-sized enterprises (SMEs) to support new export market development.

Through the CanExport program, companies can receive financial support of 50% up to $99,999 for export marketing activities. Eligible activities need to exceed the company’s core activities and focus on promoting international business development. These may include business travel costs, exhibitions at trade shows, market research, adaptation of marketing materials for new markets, and legal fees associated with a distribution/representation agreement.

In order to be eligible for funding through the CanExport program companies must have 1-250 full time employees and $200,000-$50 million in annual revenue declared in Canada. The CanExport program is open to companies in all sectors with the exception of agriculture and food processing, since companies in these industries are already eligible for export funding through the AgriMarketing program.  Export activities to existing markets are not covered by the CanExport program, but still remain eligible for funding from the Export Market Access (EMA) program.

Training Grants Available for Quality Management System Implementations

The implementation of quality management system (QMS) standards is one way in which a company can improve their performance by reducing non-conformance issues. 9001:2015 is the latest version of international standards published by ISO, and it was developed in such a way as to allow ISO implementation with the company’s current QMS. In the latest edition of ISO, ‘risk-based thinking’ is a major focus in order to help companies maintain product and service conformance.

With ISO, companies can develop the right processes and procedures to grow export sales and thus boost their position in the global market. Because global competition requires in-depth knowledge of the latest trends in products and services, it is essential for companies to have a highly skilled and knowledgeable workforce. The Yves Landry AIME Global grant can help innovative manufacturers in southern Ontario to train their employees on the implementation of a quality management software system.  AIME Global can provide up to $50 thousand of non-repayable funding to southern-Ontario manufacturers to assist with such projects.  Funding must be secured prior to project implementation, so if you are planning on investing in or upgrading your QMS, it is strongly recommended that you commence looking into AIME Global now.

Early Stage Exporters Fund

The Ontario Chamber of Commerce has released a new funding program called Early Stage Exporters (ESE). The ESE program will assist early-stage post-revenue companies to attend international trade shows, participate in outgoing or incoming missions, develop marketing tools, invest in market research, and participate in foreign bidding projects.

The program will fund up to 50% of eligible costs to a maximum of $30,000. The maximum amount of funding available per company is $150,000 and each application can include up to 3 activities.

The eligibility criteria is listed below:

  • Manufacturer in Ontario with an export mandate
  • Incorporated for at least 2 years
  • Minimum of 3 full time equivalent employees
  • Annual sales between $300,000 and $500,000
  • At least one year of reviewed financial statements
  • Operate in one of the priority sectors (advanced manufacturing, aerospace, construction, clean technology, professional services, information communications technology, digital media, and life sciences)

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Changes to the Export Market Access Program

Last week, the Government of Ontario and the Ontario Chamber of Commerce (OCC) enacted a series of changes to the Export Market Access (EMA) program, which provides funding for small to medium-sized enterprises (SMEs) in Ontario looking to develop export sales in foreign markets. Companies that have taken advantage of this program in the past or are looking to do so in the future should review these changes to see which, if any, impact their business.

  • Previously, the EMA grant allowed applicants to apply for 2 trade shows per application, with a maximum possible claim of $30,000 (up to 50%) of eligible costs. While the maximum possible claim remains $30,000, applicants may now apply for 3 trade shows per application.
  • Applicants no longer have to wait until their first application is finalized to begin another, but can submit a second application while the first is ongoing.
  • Lifetime eligible expenses have been increased to $150,000 per applicant from $100,000.
  • Airfare costs can now be expensed prior to project approval.
  • The OCC will now cover up to $5,000 for short-term (less than one year) in-market office rental.
  • In addition to all previous eligibility requirements, applicants must have capacity to meet foreign market demand and have market-ready products to be sold in export markets.
  • There is a renewed focus on applicants having $2,000,000 commercial liability insurance and being able to submit financial statements (Notice to Reader, Review Engagement, or Full Audited) for the previous two fiscal years.
  • Previous payments were made 50% on acceptance and 50% on full reconciliation. This has been changed to 40% up front and 60% after reconciliation.

NorthBridge Consultants has experience with the EMA process and will provide the necessary guidance for your application. If you have any questions regarding these changes or any other aspect of the EMA program, contact our team of business analysts and technical writers today.

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EMA Supports the Development of Export Sales in Foreign Markets

Small to medium-sized enterprises in Ontario that are looking to develop export sales in foreign markets should take advantage of the Export Market Access (EMA) cost-sharing grant, a $5 million initiative jointly sponsored by the Ontario government and the Ontario Chamber of Commerce.

EMA will cover up to 50% of eligible costs in four specified areas: the development of branding-related materials, promotional materials, and electronic media; the bidding on foreign projects against foreign competition; market research done with the goal of providing more accurate international market targeting; and the participation in international trade shows, exhibits, or fairs supported by governments or other third-party entities.

Eligible companies must have 5 to 500 employees and have minimum annual sales of $500 000. Companies must also be manufacturers with an export mandate for goods and services currently produced in Ontario and have been in business for more than two years.

NorthBridge Consultants has experience with the EMA process and will provide the necessary guidance for your application. Our team of business analysts and technical writers can assist with the completion of application information, the preparation of financial information, the creation of business plans and market access reports, and the required reporting after application submission.

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