An Overview of Our Experience with #CETA Part 2 - Challenges
All businesses looking into operating outside of their own country must be aware of different cultures, methods of operation, banking and regulations from your home country. Small businesses require more upfront assessment of risk and opportunity because they do not have the human and financial resources to learn from their mistakes. It is usually one and done either success or failure.
The feedback I have received by participants at CETA Business Forums put on by the Canadian Trade Commissioners Service is that participation by small businesses is slow. 98% of Canadian businesses fall under the small business definition of less than 100 staff and revenue under C$15 million. CETA appears to have been developed primarily for the other 2% being medium and large corporation
Following are a number of factors that could be inhibiting small businesses but with support from knowledgeable resources in international trade, country uniqueness and funding avenues these challenges can be overcome and higher probability of success ensured.