Government of Canada invests over $900,000 to help small and medium-sized businesses in Alberta export
CALGARY, July 22, 2019 /CNW/ – When Canadian small and medium-sized enterprises (SMEs) export, they become more productive, create more jobs, grow and scale at higher rates, and invest more in research and development.
Today, the Honourable Mary Ng, Minister of Small Business and Export Promotion, along with the Honourable Kent Hehr, Member of Parliament for Calgary Centre, announced a $902,060investment in Calgary Economic Development to expand its Trade Accelerator Program (TAP). This investment is being made as part of the Government of Canada’s $1.1-billion Export Diversification Strategy.
With only 12% of SMEs in Canada exporting their goods and services, the Government of Canada is mobilizing SMEs to export by enabling TAP programs across the country to expand their services to greater numbers of companies. During the first three years of TAP, 75% of participants have entered new markets and 47% have hired more staff. This partnership with Calgary Economic Development will expand TAP programming over three years for more than 200 companies in southern Alberta, enabling more SMEs to access new markets and create middle-class jobs.
Through 14 trade agreements, including the new North American Free Trade Agreement, the Canada-European Union Comprehensive Economic and Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Canadian SMEs now have access to 1.5 billion customers.
Investments in TAP are part of Canada’s Export Diversification Strategy, which aims to increase Canada’s overseas exports by 50% by 2025, and are part of the Government of Canada’s plan to help small and medium-sized businesses start up, scale up and access new markets.
“Our global brand is strong once again and the world wants—and needs—more Canada. Today’s investment in the Trade Accelerator Program will mobilize small and medium-sized businesses to export by partnering with Calgary Economic Development to ensure southern Alberta’s best become export-ready. By expanding this already successful program, we will help businesses become better positioned to access the 1.5 billion customers made available through Canada’smany trade agreements. Our government, under the leadership of Prime Minister Justin Trudeau, is delivering on our commitment to help small and medium-sized businesses start up, scale up and access new markets.”
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
“Small and medium-sized business owners across Alberta drive economic growth and create jobs. By investing in programs that help our entrepreneurs access new markets, we are helping Canadian businesses grow. Our government will continue to support Canada’s businesses and entrepreneurs.”
– The Honourable Kent Hehr, Member of Parliament for Calgary Centre
“With our track record of innovation and quality products, we have an opportunity to play a much more significant role in the global economy. The success we have seen with the Trade Accelerator Program to date—more than a dozen companies have expanded their operations for export—is helping grow our economy and creating jobs. We applaud the Government of Canada’s investment in Calgary entrepreneurs and welcome the opportunity to extend TAP to more companies.”
– Mary Moran, President and CEO, Calgary Economic Development
- Innovation and Skills Plan
- Canadian Trade Commissioner Service
- Accelerated Growth Service
- Industrial Research Assistance Program
- Innovative Solutions Canada
- Venture Capital Catalyst Initiative
- Women Entrepreneurship Strategy
- Canada Business App
- Canada-European Union Comprehensive Economic and Trade Agreement
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership
- Canada-United States-Mexico Agreement
SOURCE Innovation, Science and Economic Development Canada