Expanding into international markets can be a game-changer for Canadian businesses, but the costs and complexities of global trade can be challenging. The CanExport SMEs program, administered by the Government of Canada, provides funding support to help small and medium-sized enterprises (SMEs) break into new foreign markets.
What Is CanExport SMEs?
CanExport SMEs is a funding initiative designed to assist Canadian businesses in diversifying their export markets. It provides financial support for activities that help companies explore new international business opportunities, mitigate market entry risks, and increase global competitiveness.
Who Can Apply?
To be eligible for CanExport SMEs funding, businesses must meet the following criteria:
- Be a for-profit company incorporated in Canada.
- Have fewer than 500 full-time equivalent employees.
- Generate annual revenues between $100,000 and $100 million.
- Be seeking to expand into a new international market where they have little to no previous sales.
The program is specifically designed for businesses looking to enter countries where their sales do not exceed $100,000 or 10% of their total revenue in the last 12 months.
Eligible Activities
CanExport SMEs provides funding for various activities that support market expansion, including:
- Business travel to explore new markets.
- Participation in trade shows, conferences, and networking events related to the target market.
- Expert market research and analysis to identify opportunities and develop an export strategy.
- Consulting services for intellectual property protection, regulatory compliance, and legal advice.
- Translation and adaptation of marketing materials to local languages and cultural standards.
- E-commerce development to support international sales.
Funding Amount and Cost-Sharing
CanExport SMEs provides up to 50% of eligible project costs, with a minimum funding request of $10,000 and a maximum of $50,000 per project.
Businesses must contribute at least 50% of the total project cost from their own funds.
How to Apply
- Prepare Your Proposal – Clearly outline your international market entry strategy, budget, and expected outcomes.
- Submit Your Application – Applications are submitted through the online CanExport SMEs portal.
- Wait for Approval – The review process takes approximately 60 business days.
- Execute Your Project – Once approved, businesses can begin implementing their international expansion activities.
Why Apply for CanExport SMEs?
- Reduce financial risk associated with entering new markets.
- Access expert insights and networking opportunities to increase global success.
- Enhance brand visibility and establish a strong international presence.
Call EVAMAX today to get started on your application!
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Funding that helps your company grow into global markets
