At the same time, I know the risks of becoming an exporter are real and taking that first step can be a challenge for many women entrepreneurs. When contemplating a momentous business decision like this, women often take a holistic view and consider not just the implications for their businesses, but also for their families and their lives as a whole. This can make an already difficult decision seem even more daunting. But with the right mindset, making the decision to move forward can be very exciting and empowering.
Once you’ve made the decision to start exporting, another key challenge is deciding where to export. In my experience, starting in the United States, where there are no language barriers and the cultural similarities vastly outnumber the differences, is a sound strategy.
If you want to explore opportunities beyond the U.S., consider taking advantage of the benefits provided by Canada’s numerous free trade agreements. These agreements give Canadian businesses preferential treatment in markets with 1.5 billion potential consumers, which is a huge advantage. They include:
Having enough capital to follow through on their export plans might be the biggest barrier that women entrepreneurs need to overcome in their exporting journey. This includes having access to working capital to finance export plans, and also having the right human capital to execute on them.
One of my key responsibilities at EDC is to understand and remove barriers for women entrepreneurs. Along with my team, I help them acquire the knowledge and skills they need to succeed, and provide them with the financial and risk-mitigation tools that will enable them to expand with confidence. We also help women entrepreneurs identify opportunities and connect them with relevant buyers and partners to accelerate their growth.
