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The Canadian Federation of Independent Business has lauded the Manitoba government for providing $500,000 to support small- and medium-sized companies looking to explore, initiate or expand their export activities into new markets.
Trade Minister Jamie Moses announced Thursday the export support programming would help businesses export their products or services outside of Manitoba.
“Helping companies start to export or expand their exporting capabilities will boost trade and create good local jobs for Manitobans,” Moses said.
Brianna Solberg, CFIB’s director for the Prairies and Northern Canada. (Submitted)
“We’re continuing to work with Manitoba companies to develop export opportunities and increase business investments in our province.”
CFIB regional spokesperson Brianna Solberg told the Sun the advocacy group is pleased to hear about the funding.
“This money could potentially help small to medium-sized businesses grow as they will have access to some support if and when they choose to enter new, international markets,” she said in an email on Thursday.
“The ability to access foreign markets is necessary to help some of our local businesses thrive, which also ultimately allows them to contribute to our local economy. It’s a win-win.”
According to recent CFIB survey data, she said, “insufficient domestic demand” is currently the No. 1 factor limiting Manitoba’s small businesses from growing or expanding their operations.
The program provides funding through two streams — the Export Development Program and the Incoming Buyer Program, a provincial government press release stated.
Cypher Environmental executive vice-president Teaghan Wellman said the Export Development Program has been a vital resource in supporting businesses expanding into new markets.
“Through its additional backing for our participation in international trade shows and missions, we’ve been able to capitalize on key opportunities that have significantly accelerated our growth,” Wellman said. “This program has not only helped us strengthen our export strategy and broaden our global presence, but remains a driving force behind our success, enhancing our competitiveness and resilience in an ever-evolving global market.”
Moses added the program has seen strong uptake from Manitoba companies, highlighting the importance of having dedicated provincial export support programming.
As of March, programming has supported 45 companies to attend 74 national and international events, trade shows, missions and conventions to form valuable partnerships, the release said.
“Manitoba’s new trade strategy will focus on attracting investment to Manitoba, having more domestic companies exporting products or services abroad and increasing our global presence,” Moses added.
“This funding helps companies make exporting a reality and is a crucial part of our trade strategy.”
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