Export program for small Canadian companies has been expanded
CanExport, a funding program administered by the Canadian Trade Commissioner Service (TCS) that gives companies incentives to develop and diversify their sales abroad, has already helped more than 1,000 firms compete more effectively in the global economy.
The TCS says the program will now be enhanced significantly and be available to an even wider range of small and medium-sized enterprises (SMEs).
The original program applied to companies with a range of annual revenues in Canada from $200,000 to $50-million. That range will change to between $100,000 and $100-million.
CanExport’s coverage has also been widened. Large emerging markets such as China, India and Brazil were originally considered one single market under the program, but now SMEs active in one region of these countries can apply for support to target another region there.
Eligible SMEs can get CanExport assistance through “grants” given up front before starting an activity (with a maximum grant amount of $30,000), while others will receive the funds as “contributions” (with a maximum contribution amount of $50,000,) and will be quickly reimbursed after the fact.
Link: CanExport Program