Canadian Exporting Businesses Report Growth
54 per cent of exporting firms report profit growth
More Canadian exporting businesses report growth in revenues or profits than companies focusing on solely domestic trade, finds the latest survey by Regus, the flexible workspace provider. For the third year running, exporting firms confirm they have an advantage with 54 per cent reporting profit growth over the last 12 months compared to those trading only domestically at 49 per cent profit growth.
Similarly, 59 per cent of Canadian internationally trading firms report revenue growth in the last year compared to 52 per cent of domestically focused firms.
While reaching out to a larger pool of prospects certainly plays a part in exporter’s success, the survey also confirms that having a presence in the same country as clients or customers carries a number of benefits. Specifically, 82 per cent of Canadian businesses say physical proximity increases understanding of customers and markets. Being close to clients also means businesses can boost sales (81%), improve customer satisfaction (81%) and deal more effectively with customer problems (79%).
But foreign expansion is a big step for businesses to take and a difficult one if support is lacking. In particular, Canadian firms report that aside from making customer introductions, their government trade delegations can most usefully help them expand abroad by providing advice on legal and regulatory matters (63%).
Other findings from the survey show that Canadian firms find:
- Being close to customers means businesses improve customer retention rates (78%);
- More than half of firms (51%) think they could develop better products;
- Introductions to local business organization and associations (49%) and advice on taxation (36%) would also help businesses planning foreign expansion;
- Almost a half of businesses (41%) would like help with local custom and 28 per cent would benefit from a directory of places to network.
“People always talk about ‘getting close to the customer’, but in expert markets that can be literally true. Our survey respondents told us that having a physical presence close to their customers brings about a number of benefits. In particular, businesses report that better customer retention, faster problem resolution and greater satisfaction can be achieved by setting up a location in proximity to their customers or clients. With workspaces in 104 countries, Regus can help businesses get closer to their customers at an affordable cost.”
Regus is the global workplace provider.
Its network of more than 2,000 business centres in 104 countries provides convenient, high-quality, fully serviced spaces for people to work, whether for a few minutes or a few years. Companies like Google, Toshiba and GlaxoSmithKline choose Regus so that they can work flexibly and make their businesses more successful.
The key to flexible working is convenience and so Regus is opening wherever its 1.5 million members want support - city centres, suburban districts, shopping centres and retail outlets, railway stations,
motorway service stations and even community centres.
Founded in Brussels, Belgium, in 1989, Regus is based in Luxembourg and listed on the London Stock Exchange. For more information, please visit: