Among the fascinating aspects of entrepreneurs in Canada is that they are hesitant to move their operations in the international market. According to recent reports, nearly 80% of businesses in Canada are unprepared to join their business in global circles. This is despite 90% of enterprises that have taken their operations worldwide and enjoyed tremendous success. Here are some Canadian companies that have gone international and reaped significant benefits.
Imprint Plus
Before going international, Imprint Plus had been running its operation for 32 years. At the time, the firm had hired 70 workers. Imprint Plus focuses on the sale of name tags for events such as trade shows and conferences. In the 1990s, the business introduced its operations in the United States. It began enjoying steady growth internationally. As of now, Imprint Plus runs its business in over 75 different states and has roughly 35,000 clients worldwide.
Foxy Originals
Foxy Originals began as an enterprise that manufactured exceptional pieces of ladies’ jewelry and marketed them to the residents of Toronto. In 1998, the business hired five full-time worked and leveraged the expertise of fifteen sales representatives recruited on contract. When Foxy Originals was ready to expand into the international market, it started marketing its jewelry at New York-based trade shows and other similar events across the large cities in the United States.
After a short while, Foxy Originals developed a worldwide client base. As of now, they still attract prospective clients through trade shows. Jewelry from Foxy Originals is sold in boutiques all over the United States, Europe, Asia, and Australia.
DocuSign
DocuSign is a software firm based in Canada that allows individuals to sign formal documents without necessarily faxing, scanning, or printing them. DocuSign has corporate connections in several nations. The company recently announced that it is spending $30 million to establish a workspace in Tokyo in line with the expanded mission of the enterprise in the Japanese market.
Perks of Expanding Your Canadian Business in the Global Scene
There are many reasons why moving your business globally is a good step. Some of these reasons include:
Better Revenue Source
Your business can profit from the increased revenue source available in the global pool. The international market implies a better revenue stream, generally. It also offers extensive protection coverage from an economic crisis that causes the depletion of local revenue sources.
More Extensive Talent Pool
By taking your enterprise far beyond your local geography, you can connect with people who have new ideas worth exploring. This improves your company significantly and offers you an understanding of other cultures.
Diversification Opportunities
Moving into the international scene offers a broad array of diversification opportunities for the assets belonging to Canadian businesses. At the same time, this may not be the number one priority for entrepreneurs making this move. Most attempt to branch out within the shortest time possible.
Final Thoughts
It is a perfect time to become a business owner in Canada. The overall heightened quality of manufactured products, strength of the currency, and improved international opportunities are good for business. In particular, those that push forward and begin operations in the global market.
