*But Rarely Do
Written by Robert Smith
There’s a quiet revolution happening in Canada’s business community. Businesses across the country that have traditionally limited their market to North America are beginning to look elsewhere for new opportunities.
In fact, recent research conducted by Livingston International shows a significant surge in the use of more than one trade agreement is anticipated among Canadian businesses in 2017. That means many businesses will be setting their sights on markets that are at least an ocean away and have different languages, cultures and consumer habits.
As someone with an extensive sales background, I have a heightened interest and awareness about the challenges associated with introducing an existing product to a new market. But as the chief sales and marketing officer of a trade services firm, I also have an acute understanding of the hidden complexities of doing so.
Much has already been written about the importance of adapting already existing products to the consumer culture and appetite of new markets, and most businesses know they need to conduct substantial market research before attempting to go global. Yet few businesses consider the impact of trade agreements and trade regulations on their ability to be successful in international commerce.
This article was originally published on February 22, 2017 in Global Trade Magazine