Canada has become a dynamic export orientated economy and many small business owners recognize the significant international opportunities that are available for their products and/or services. Understanding the culture of your foreign customers is a critical element to your ultimate success.
The U.S. Market:
Many small business owners start with an expansion south to the United States, which represents a large potential marketplace however, the competitive environment is fierce. American business owners and mangers are very protective of their market and will fight aggressively to defend their business. It is not uncommon for these competitive firms to artificially lower their prices to prevent a new competitor from gaining any initial ground. If you are contemplating an expansion to the US or are already there, plan on a longer start up curve to weather the initial competitive response.
International Markets:
Of greater opportunity is the international marketplace however; a key challenge comes with this opportunity - understanding business etiquette and culture when dealing with people from diverse backgrounds in countries such as China, India, Italy or Brazil.
The first place to begin your research would be your own backyard. Canada has become a truly global community and there are numerous opportunities to learn about other cultures right here. Visit different ethnic communities, talk to friends who emigrated from a foreign country and contact their foreign consulate/embassy that is located in Toronto or Ottawa. You'll learn a lot about their cultures.
Your target country's official government website will provide a basic background on their official structure to understand the legal and financial regulatory requirements for conduction business in their country.
Help Sites:
We have assembled a short collection of valuable information resources for you to learn more about the markets you are planning to enter.
A special website on this topic can be found at www.executiveplanet.com which provides detailed information on how to conduct business properly in the most common locations for business people.
This web site provides an excellent overview of the customs and business etiquette appropriate in the top foreign markets. It Includes how to negotiate a business deal, business dress and appointment protocol. They charge a small fee for fast downloadable report. www.business-protocol.com
Another great source of information on this topic can be found at the website
http://www.e-thologies.com/menu-en.asp which is a Federal Government website dedicated to providing insightful background on foreign countries. This site has many links to related subjects.
The Department of Foreign Affairs and International Trade (DFAIT) produces this site that contains excellent economic data on the destination market, extensive contact resources including Embassy personnel and links to local company directories. www.infoexport.gc.ca
The Ontario Government has a very detailed country profile report available under the Target Market section at http://www.ontarioexportsinc.com/oei/
Patrick Draper is owner of Paramount Travel and can be reached at patrick@paramounttravel.ca
Paramount Travel helps clients travel the world to build their business
