Joy Yap’s first lesson in how politics can put a stranglehold on trade came in January, when the biggest order in her young company’s history became entangled in customs at the Port of Los Angeles.
With the clock ticking on her deadline, Yap’s shipment was left to languish in a port warehouse for two weeks. Yet those efforts are playing out against a rapidly shifting global trade landscape, one that has proven daunting even for large corporations with significant resources, never mind small enterprises operating on a knife’s edge.
Diversifying trade has been a longstanding Canadian goal, one embraced with particular vigour by the current administration in Ottawa. Last year, Canada launched a $1.1-billion trade diversification strategy, setting a 2025 target to increase the value of exports by 50 per cent. Small businesses have another role to play, however, as crucial engines for employment. The nation’s small and mid-sized companies — which employ up to 100 and 500 workers respectively — provide 70 per cent of Canadian jobs, making their growth and sustainability essential, Ng said.
After 20 years of operating in Quebec, Commsoft Technologies Inc. last year decided to make France, not the U.S., the first export market for its small business software. But even as the company’s business has grown south of the border, so have the trade headaches. With China and the U.S. locked in an escalating trade war, founder Yap finds herself constantly scanning tariff lists for her Chinese manufactured products.
“Now when someone is examining or looking at a supply chain, it can involve countries that aren’t just party to one or two or three agreements, they might be party to five or six. When you try to structure that, it’s a lot more challenging,” he said. “What are the rules of origin? They aren’t the same in every agreement and sometimes they’re easy to meet, sometimes a lot more difficult.”
That's it, change the narrative from the trudeau blackface. The MSM is corrupt
Welcome to the world of entrepreneurship!
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