4 Reasons to Start Your Business in Canada Today

10:28:00 PM

Last year was a difficult one for the Canadian economy. In 2015, statistics showed a 0.2% contraction in the economy and in May, the country experienced its 5th month of growth at 0% or less. Economists blame the fall in oil prices that began in 2014 and are now affecting the entire Canadian economy. 

When the price of oil drops, the oil industry reduces its workforce, the unemployment rate rises and Canadians have less money to spend on goods and services. Although the governor of the Bank of Canada Stephen Poloz has not yet used the term recession, there is no doubt that the economy has seen a better day

4 reasons to start your business in Canada today.
While the horizon looks bleak, economists recognize that the Canadian economy will recover. This is partly due to SMEs exporting goods and services and participating in trade fairs outside of Canada. They report business opportunities and clients to the country and show the world what the country has to offer.

GROWTH FORECASTS UP.

Over the past 15 years, the difference between Government of Canada bonds and the Bank of Canada's day-to-day rate has been an indicator of the country's economic development. George Pearkes, an economic expert for the Bespoke Investment Group, shares in his analysis that the Bank of Canada rate cut has increased the yield gap, indicating that he believes Canadian growth is next year.

"Happy days are not yet there, but markets are increasingly optimistic about the outlook for the Canadian economy as compared to early 2015," commented Parks in MacLean's magazine rather this month.

As a result of these forecasts, expectations for growth have risen sharply. Giving SMEs and consumers the confidence to invest and innovate in their companies. If the outlook is correct, we hope to see more trade show attendees next year.

THE US ECONOMY IS IMPROVING.

Exports are crucial to Canada's economy. A decline in trade with countries like the United States or China impacts the Canadian economy and the companies that do business with these countries. These two economies are experiencing a slight slowdown in their economies, especially China, whose fall is worse than what the experts thought. However, the United States is improving, and Canadian companies that have invested in this country will be in a better position to provide products and services on demand in the United States.

If the adage "to make money it is necessary to spend money" is true, investing in your business during a period of economic stagnation can give you an advantage when the economy will restart.

Fortunately, there are ways to reduce marketing costs, including fees for exhibition kiosks, without sacrificing results.

SMES OFFER FLEXIBILITIES AND A FINANCIAL SAFETY NET.

SMEs offer opportunities to create their own financial future. Although there are many factors associated with the success of business, owning one's own business gives more control to the owner. For example, as a manager of your own company, you can spread your working hours. Work more or less as needed. In these difficult times, managing your own business gives you the opportunity to build a financial security net. A luxury that many Canadians can not afford, according to a Statistics Canada study.

SME REACHES CANADA'S ECONOMY AFLOAT.

In this year of economic downturn, SMEs are helping the Canadian economy stay afloat. According to Glen Hodgson of the Conference Board of Canada, the country is in a period of weak growth in private investment. This has an effect on productivity and leads to a lack of investment in new technologies. The glimmer of hope, however, is the contribution of SMEs to stimulate the economy. A study by CIBC shows that businesses with fewer than 500 employees have created 80% of new private jobs in the last 12 months.

Canadian SMEs can still participate in the economic improvement of the country. This same study shows that only 10% of small and medium-sized enterprises make exports. If you start your business or if you already have a business, partner with a company specializing in exhibitions in Canada, it will help you have more attractiveness in the lucrative export market. This can also contribute to improving the national economy.

Canadian economic experts agree that the economy is starting to grow, now is the time for executives and marketing managers it is an excellent opportunity to invest in their business. You can rethink your marketing strategy, refresh your brand, start e-marketing and plan your next trade show.

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