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Soo Chamber expansion TAP Program

Soo Chamber expansion TAP Program

Trade Accelerator Program to Sault Ste. Marie

#LSN_Econ    Soo Chamber

SAULT STE. MARIE, ONTARIO - January 17, 2020  (LSN)  – The Sault Ste. Marie Chamber of Commerce is pleased to announce the launch of the Trade Accelerator Program (TAP) in Sault Ste. Marie. Winner of the 2018 Ontario Export Award for Export Excellence, TAP will debut locally on March 23rd and 24th with an intensive two-day workshop to orient participating companies to the program.

“In uncertain economic times, Sault-based businesses need to diversify—and that means new ideas and taking steps to bring their goods and services into untapped markets,” says Rory Ring, CEO of the Sault Ste. Marie Chamber of Commerce. “Canadian businesses are quickly learning that ‘business as usual’ no longer exists. Businesses are dealing with disruptions on several fronts, from trade agreements in upheaval to un-even energy and transportation prices.”

Ring notes however, that venturing into a new foreign market does include exposure to new kinds of strategic and regulatory risks. Depending on the market in question, it can also involve heightened security risk, rapid fluctuations in currency value, cultural and linguistic barriers, and more. TAP is intended to help participating businesses overcome and become better prepared to navigate some of those hurdles.

Operated in partnership with the Toronto Region Board of Trade’s World Trade Centre Toronto, TAP is an innovative, dynamic workshop that provides companies with access to Canada’s top exporting advisors, resources and contacts, giving them the training and support they need to scale up, develop and execute an export plan.

Since its launch in October 2015, TAP has expanded to eight major centres across Canada. TAP graduates report an average growth of 42 percent in export sales one year after participation, and more than 85 percent of participants have entered new export markets since completing the course.

“Our Trade Accelerator Program has yielded amazing results for more than 600 companies across Canada, helping them reach new markets and achieve their growth objectives,” said Leigh Smout, Executive Director of World Trade Centre Toronto.  “We look forward to helping more small- and medium-sized businesses throughout Ontario build their export capacity and go global.”

The launch of TAP in Sault Ste. Marie was made possible through a $5-million investment from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), which allowed World Trade Centre Toronto to expand the program to 15 additional communities across southern Ontario. A $1.7-million investment through Innovation, Science and Economic Development’s Mobilizing SMEs to Export initiative will also take TAP into unserved northern communities across Canada as part of the federal government’s Export Diversification Strategy.

“Our global brand is strong once again and the world wants - and needs - more Canada. Our investment in the Trade Accelerator Program will help nearly 1,000 small- and medium-sized businesses export to 1.5 billion customers through Canada’s many trade agreements,” said the Honourable Mary Ng, Minister of Small Business and Export Promotion. “Our government, under the leadership of Prime Minister Justin Trudeau, is delivering on our commitment to help businesses start up, scale up and access new markets.”

TAP is also supported by its National Partners: Royal Bank of Canada (RBC), Export Development Canada (EDC) and Air Canada Cargo.

Locally, the Chamber will partnering with Invest Sault Ste. Marie, the Community Development Corporation of Sault Ste. Marie and Area and the Sault Ste. Marie Innovation Centre to deliver the program.

Companies can participate in TAP via partner nomination or direct application. All applications are reviewed by the TAP team to ensure the program is a good fit and to allow participants to maximize its benefits. All applications will be considered based on program criteria and assessed on their merits.

The program fee is $5,000 per company; however, support from partners is allowing the Sault Chamber to reduce this fee to $495 + HST.

ELIGIBILITY GUIDELINES

The companies being sought for TAP - Sault Ste. Marie should meet the following guidelines:

  • Generates approximately $500,000 or more in annual revenue
  • Has been operating for at least 2 years and receiving revenue for its product, service or technology
  • Is already exporting a product, service or technology, but wishes to diversify its export markets or has taken exploratory steps to expand into new markets
  • Has a product, service or technology with a strong competitive advantage as a result of quality or patent protection
  • Is located anywhere in Ontario (not limited to the Sault Ste. Marie area)
  • Is willing to dedicate up to two representatives to participate in the program and apply its resources

Businesses that want to learn more about, or apply to be a part of, the upcoming TAP Sault Ste. Marie sessions can visit https://www.ssmcoc.com/trade-accelerator-program-tap

 

 

 

 

About the Sault Ste. Marie Chamber of Commerce
Sault Ste Marie Chamber of Commerce The Sault Ste. Marie Chamber of Commerce represents the interests of 700 plus business and agencies in Sault Ste. Marie and has been serving the needs of this community since 1889. The Sault Ste. Marie Chamber of Commerce will lead the way as the voice of business, advancing economic prosperity for its membership and the business community. Learn more about the SSMCOC at www.ssmcoc.com

 

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