A Guide to DoingBusiness in Canada
Market Overview
Canada is the tenth largest economy in the world and Ireland’s 7th biggest trade partner outside the EU. Ireland and Canada are ranked side by side in Ease of Doing Business, with Ireland sitting at 17th and Canada at 18th out of 190 countries by the World Bank. A two trillion dollar (CAD$) economy, Canada is forecast to grow at more than 2% per annum in 2018 and 2019. It has a growing population of 36 million people and a positive and stable economic environment. Canada is an affluent, high-tech industrial society with a market-oriented economy, low inflation and high living standards. GDP for Canada was at approximately USD $1.53 trillion in Q4 of 2017 and growth in 2018 expected to increase by approximately 2.2%.
36.5 Milion Population
2.4% Economic Growth in 2017
6,000 People Employed by Irish Companies in Canada
400+ Companies Actively Exporting
10th Largest Economy in the World
7th Biggest Trade Partner Outside the EU for Goods
Get Export Ready
The Comprehensive Economic and Trade Agreement (CETA) is strengthening Ireland and Canada’s close trading relationship. CETA provides for significant savings on customs duties by eliminating duties on 99% of all tariff lines, of which 98% will already be scrapped at entry into force for Irish exporters and importers. It opens up the Canadian service market to Irish firms and enables Irish firms to bid for more Canadian public contracts. This encourages more investment between Ireland and Canada. More than 400 Enterprise Ireland client companies are doing business in Canada, employing some 6,000 people across Canada in the fintech, life sciences, software, digital media and animation, education, food and construction sectors.
Key Market Sectors
As Brexit plans progress, Irish businesses are exploring export options in sectors across the Eurozone markets, the USA and Canada, the APAC region and the ASEAN.
Enterprise Ireland is playing a key role in supporting ambitious companies seeking opportunities in Canada’s automotive, pharma, and medtech sectors.
Additionally, machinery, ICT, electronics, and chemicals continue to perform and add appeal to Irish exporters and service providers who want to scale, and develop a presence in the Canadian market.
Read more on Canada’s sectoral successes in our Going Global Guide.
- 7th Biggest Trade Partner outside the EU.
- 6,000 Canadians employed by Irish companies.
- €3.8 billion bilateral investment
Doing Business
Canada is a vast country and too big to tackle all at once. Narrow your focus and increase your chances of success.
If working in Quebec or Ottawa, both French and English translations should be included in any presentation collateral.
Canadians prefer to work with a company that has already established a presence in their country. Demonstrating a local presence can reassure potential customers of ongoing support.
Best Routes to Market
Choosing the right route to market is very important.
Agents bring a deep understanding of local business practices and distributors can deliver products geographically across large nations. Joint ventures and acquisitions bring valuable established contacts, customers and market knowledge. Local representatives may not always be necessary with many global markets open to direct sales and prospecting from Ireland. Other markets require a ‘boots on the ground’ approach – the power of referrals and networking shouldn’t be underestimated. The key routes to market in Canada are through working with partners, remote servicing and third-party distributors. Download our Going Global Guide to Canada to find out more.
Before You Go
Before you go, we recommend you invest some time in researching the terrain before you explore the Canadian market. Here’s a few starting points to consider…
- Market Landscape
- Market Trends
- Target Market
- Market Segmentation
- Market Competition
- Market Research Resources
Enterprise Ireland’s Market Research Centre offers client companies access to market intelligence in the form of company, sector, market, and country information to explore opportunities and compete in international markets.
Helping You Succeed
We are committed to helping you succeed in global markets and have an immense wealth of knowledge and expertise in the Canadian market.
Enterprise Ireland assists clients entering new markets with pre-visit support, in-market support, international trade events, additional supports and access to mentors.
Our Market Executives are always available to support you and provide business expertise and on-the-ground knowledge.
Canada Office
Neil Cooney
Email
neil.cooney@enterprise-ireland.com
Address
Enterprise Ireland Toronto office
2 Bloor St W
Suite 1501
Toronto ON M4W 3E2
Canada
Telephone
00 14169345033
