Ottawa, Ontario - Global Affairs Canada - Canada’s small and medium-sized enterprises (SMEs) are the engine that drives economic prosperity and creates jobs for the middle class. Opening new international markets and expanding existing ones is central to Canada’s trade diversification strategy, which aims to propel Canadian businesses to tap into new markets, reach new customers and create new jobs.
Bardish Chagger, Leader of the Government in the House of Commons, was in Kitchener-Waterloo, Ontario, and met with local businesses at an event hosted by TextNow, a local start-up that has developed a freemium wireless phone app. At the event, Minister Chagger encouraged local businesses to continue to explore new opportunities in overseas markets with the help of the Canadian Trade Commissioner Service (TCS).
Minister Chagger outlined how the government is investing $290 million over five years to strengthen the TCS and enhance the support it provides Canadian businesses, including $100 million over six years to reinforce the CanExport program. Since 2016 the CanExport SME program has supported 469 projects with companies across Ontario, for a total of $13.4 million, helping these companies access new export opportunities and reach their global goals.
Minister Chagger also highlighted $17 million over five years to expand the Canadian Technology Accelerator (CTA) program. This funding is part of Canada’s commitment to help SMEs expand and diversify their exports.
These programs are key components of Canada’s trade diversification strategy, New Markets, New Customers, New Jobs, which invests a total of $1.1 billion over six years to help Canadian companies succeed. With these investments, the government continues to make Canada the most well-connected trading economy worldwide while creating more jobs at home.
Source : Government Of Canada