Following a national trend, B.C.’s small and medium-sized enterprises (SMEs) are starting to see more exporting opportunities, according to a new survey commissioned by package delivery company UPS Canada.
That finding, according to Pat Stanghieri, vice-president of marketing for UPS, is a shift from previous UPS-commissioned surveys of Canadian companies’ global outlook.
“Going back over a year ago, the theme was that Canadians, although they believed that exporting was a significant opportunity, they weren’t really interested,” he said. “However, today – and I think it’s coupled with our economy coming back – we’re finding that Canadian manufacturers believe that export is a significant part of the recipe for success.”
The survey found that, in B.C., 70% of SMEs believe Canadian businesses should disregard the current strength of the loonie and put more resources into international trade.
The survey also found that many B.C. SMEs associate the fate of Canada’s export sector with the U.S., including 45% who believe a rebound in Canadian exports will hinge on U.S. consumer confidence and 59% of whom believe the value of the loonie will be a key driver.
Looking into the future, the survey found 58% of B.C. SMEs believe Canada could face serious trouble in the long-term if it doesn’t diversify its export base beyond natural resources to significantly improve value-added innovations.