Thinking of going global?

• Author: Bissonette, Laurie
• Position: BUSINESS SENSE

Northern Ontario has both benefited and struggled as a result of our historical reliance on our phenomenal commodities. These commodities were the basis for our residency in the North.

Our entrepreneurs learned to service the commodity-based industries in the North through the lean times, providing solutions to reduce the cost of "production and extraction throughout the decades. Some of these same service providers have also learned that, to succeed in the long-term, they need to grow their businesses, while they have the momentum and capital to do so. These entrepreneurs are taking their "solutions" global.

Increasingly, the business owners and entrepreneurs I work with are asking themselves tough questions. These questions probe how to best navigate the changed landscape of doing business outside of Canada. As business owners and entrepreneurs, are we as aware as we need to be of developing business opportunities and trade internationally?

Canada's future prosperity depends to a large extent on Canadian businesses' ability to compete globally by expanding successfully beyond the country's borders, thus taking advantage of global markets and opportunities. While the potential rewards can be significant, identifying and capitalizing on these opportunities is not easy or straightforward.

If you are contemplating...