Shifting Chinese Demand. New Opportunities for Canadian Companies
For 150 years, HSBC has been at the forefront of helping small, medium and large companies to grow—connecting them to opportunities and helping them to compete on the international stage. Global trade is in our DNA and we are keenly aware of the positive links between exporting more of a country’s goods and services to global markets and greater economic growth. We also see companies who stall by outgrowing their market and failing to expand internationally.
Statistics Canada research tells us that companies that trade internationally grow faster over the long term. With over 50 trade and investment agreements in place, the country’s businesses should be well positioned to take on the world. Yet only 10 per cent of Canadian companies—98 per cent of which are small and medium enterprises—currently generate sales abroad, and just 550 firms account for 70 per cent of Canadian goods exported. By contrast, the remaining 30 per cent is generated by nearly 40,000 firms.