LONDON-ON Although small and medium sized enterprises (SMEs) and service professionals make up 99% of all businesses in Canada, only 4% of them are exporting. The Trade Accelerator Program (TAP) being hosted this fall by the London Chamber of Commerce aims to change that. TAP is an innovative and dynamic initiative that helps SMEs overcome barriers to international trade.
This four day session (Oct 10, 11, 18 and Nov 22) is extremely hands-on. TAP helps participating businesses navigate the complexities of the global trade market and leverage valuable trade and investment resources. The program is a combination of workshops, case studies, presentations and one-on-one mentoring. By the end of the session, program participants will complete a written comprehensive export plan and begin its implementation.
“Local businesses are looking for ways to scale up, and global trade is one of the fastest and most effective ways to achieve that growth,”
says Gerry Macartney, CEO of London Chamber of Commerce. “Since the TAP program has seen tremendous success in other parts of Canada, it made sense to offer this program to support the business community here in London.”
A growing number of SMEs and service professionals from other cities have benefited from the program since it was first implemented in 2015.
Some notable facts about SMEs that have completed the TAP program:
“We believe the TAP program in London will not only be of benefit to business owners in the city, but it will also complement the work of the London Jobs Now task force, as there is a clear correlation between international trade and job creation,”
- Participating companies experience an average growth of 42% of export sales after one year of participation
- 85% of participants have entered new markets since completing the course.
- 47% of TAP graduates hired new staff devoted to export activities with the average salary of nearly $87,000
- Nearly 90% of participants said they’re better prepared to do business internationally after completing the program
Background: Launched in the Greater Toronto Area (GTA) in 2015, TAP has helped more than 500 Canadian companies trade globally. The program provides companies with access to Canada’s top exporting advisers, resources and contacts, giving them the training and support they need to become successful international traders in their specific business sector. TAP is available through select boards of trade and chambers of commerce in Canada.
For more information about the TAP program in London or to apply for the upcoming fall session, visit http://www.londonchamber.com/trade-accelerator-program-tap