International Springboard for SMEs
With more than 70 years of experience helping Canadian companies go, grow, and succeed internationally, Export Development Canada (EDC) is the go-to resource for companies of all sizes looking to propel their business onto the world stage.
This is especially true for companies looking to expand into the U.S. – Canada’s most important trading partner. Proximity, cultural similarities, and the general ease of doing business have enabled trade to flourish between the northern neighbors, and in the process created a very special relationship based on mutual benefit. EDC plays a major role in facilitating that trading relationship.
Senior Vice President of Business Development Mairead Lavery explained, “When you factor in issues such as freight, logistics, border regulations, and security, the US and Canada have a very trusted relationship—you have a partner that you have worked with for a long time. As Canada’s export credit agency, we want to encourage more people to understand the benefits of exporting.”
EDC specializes in trade knowledge, connections, and financial services that can help companies at any stage along their export journey. Its suite of services includes credit insurance, direct financing, fund and equity investment, political risk insurance, bonding and guarantees, buyer financing, and supply-chain matchmaking among many other services.
Domestic to International Success
“We are about making sure that Canadian companies have a level playing field if they engage in international trade and we do that by working with partners, banks, and other financial institutions to meet the needs of our customers,” noted Lavery.
That applies especially to small- to medium-sized companies, which make up Canada’s economic engine. Only an estimated seven per cent of companies in this segment export, which is simply not enough. It’s imperative then for EDC to equip more of these companies with the information and tools they need to confidently expand abroad. EDC can also help these companies penetrate the global marketplace with introductions to international buyers.
With such extensive experience in global trade, EDC is uniquely positioned to assist Canadian companies on their path to international growth. A stable and reliable resource in the world of international trade, EDC knows how to navigate tough waters. “Our risk appetite is very stable. We understand there are economic cycles and we are willing to work our way through them,” Lavery stated.