By : Olivier Bilodeau
The Government of Canada wishes to assist Canadian companies in their international expansion project. The program is designed for SMEs, ie companies with less than 500 full-time equivalent (FTE) employees and annual revenues of $100,000 to $100 million.
CanExport finances 50% of project costs for a minimum amount of $10,000 and a maximum of $50,000 per application. It is therefore necessary to submit projects of at least $20,000 and a maximum of $100,000. Once the project is completed, it is possible to make a new request that targets different markets from the previous request.
CanExport aims for the SME to target a market where it is not yet present. To determine if it is a new market, there are two possible criteria, namely having sales:
- Less than $100,000, or;
- Less than 10% of the company’s total sales (domestic and international sales combined).
The SME can target up to 5 target markets in its request. It is important to note that 4 countries are divided into sub-national markets: Brazil, China, India and the United States.
The program has a variety of allowable expenses. Here is a non-exhaustive list:
- Commercial events
- Marketing and translation
- Interpretation service
- Contractual agreement
- Intellectual property
- Consultant in business, tax and legal advice
- Realization of a market study.
For more details on the program, I invite you to click here.
About 48e Nord International
48e Nord International is a dynamic and present team for companies wishing to lead their activities towards sustainable business development and thus achieve their objectives. Its services are aimed at companies established in the Abitibi-Témiscamingue territory and companies in the mining sector in Quebec.
For any questions, contact us.