Small Business BC — Export Navigator
Highlights
This program is designed for businesses like yours that are ready to expand beyond the local market. By participating, you will receive free, expert guidance on how to enter new markets, which can help you diversify your customer base and increase profitability. The program offers in-person support from advisors who specialize in market expansion strategies, saving you time and money.
Key Benefits:
- Free market readiness and business assessments
- Support with market entry strategies
- Access to market tools and information
- Streamlined connections to additional support services
This program is funded by the Province of B.C. and Pacific Economic Development Canada, ensuring that you receive high-quality support at no cost. By joining, you can foster innovation in your products and services, making your business more competitive. The qualification process is straightforward, and the essential services are free, making it an excellent opportunity for growth-oriented businesses.
Financing Details
Type of Financing: Grant
Eligible Expenses:
- Market entry strategy support
- Export readiness assessment
- Business readiness assessment
- Market tools and information
- Streamlined service connections to support services
Use of Funds:
- Funds can be used to cover costs associated with expanding to new markets.
- Funds cannot be used for unrelated business expenses or activities not directly tied to market expansion.
Fees:
- No fees are associated with the essential services provided by the program.
- Additional support services from other providers may incur fees.
Qualifications
- Must be a small or medium-sized business.
- Business must be located in British Columbia.
- Must be willing to commit resources to the planning process and sustaining a market entry strategy.
- Must be in one of the following regions:
- Cariboo & Northeast
- Kootenay Boundary
- North Okanagan
- Pacific Northwest
- Vancouver Island North
- Vancouver Island South
- Must be growth-oriented.
- Must be willing to conduct market research.
- Must have received sales inquiries from outside of British Columbia.
- Must have excess production capacity or the ability to scale operations.
- Management must be willing to dedicate time and money to develop a new market for a sustained period.
- Must have a product or service with a competitive advantage (quality, price, innovation, etc.) over similar products in the target market.
Must be able to secure financing to adapt, ship, and market the product in the target market.
Disqualifications:
- Businesses outside the specified regions.
- Businesses not willing to commit resources to the planning process and sustaining a market entry strategy.
- Businesses not willing to conduct market research.
- Businesses without excess production capacity or the ability to scale operations.
- Management not willing to dedicate time and money to develop a new market for a sustained period.
- Businesses without a competitive advantage in their product or service.
- Businesses unable to secure financing to adapt, ship, and market their product in the target market.
Description
This program helps your business expand into new markets outside of British Columbia. You can get free support from expert advisors who will guide you through the process. They will help you with market research, developing export strategies, and connecting you to the right services.
Why is this valuable? Expanding your market can increase your customer base, which means more sales and higher profits. It also helps you innovate your products and services, making your business more competitive.
There are no fees to participate in this program. Essential services like market entry readiness assessments and business needs assessments are provided at no cost. This is a great opportunity to grow your business without a significant upfront investment.
Program Steps
Gather Required Documentation:
- Business Plan
- Financial Statements
- Market Research Data
- Export Readiness Assessment
- Business Readiness Assessment
Complete the Client Self-Assessment:
- Access the self-assessment form on the Export Navigator website.
- Fill out the form with accurate and detailed information about your business.
Schedule a Meeting with an Export Advisor:
- Contact Export Navigator to arrange a meeting.
- Prepare to discuss your business's readiness and potential for market expansion.
Develop a Market Entry Strategy:
- Work with your export advisor to create a tailored market entry strategy.
- Utilize market tools and information provided by Export Navigator.
Secure Financing:
- Ensure your business has the necessary funds to support the market entry strategy.
- Explore financing options if additional funds are needed.
Submit Your Application:
- Complete the application form available on the Export Navigator website.
- Attach all required documentation and the developed market entry strategy.
- Submit the application through the specified channels.
Follow Up and Await Approval:
- Stay in contact with your export advisor for updates.
- Be prepared to provide any additional information if requested.
Implement the Market Entry Strategy:
- Upon approval, begin executing the market entry strategy.
- Utilize ongoing support and guidance from Export Navigator advisors.