For many Canadian companies selling abroad is riskier than selling in Canada. Understanding how those risks and how to minimize them is critical to your business’ export success.
Export Development Canada (EDC) has a tool to help Canadian businesses understand international business risks— the Country Risk Quarterly. Here you’ll find a detailed analysis of potential risks involved in exporting to 99 countries, along with a regional interactive map function that evaluates a variety of risks in every country in the world.
“I think the main draw of this publication is the country profiles and the regional maps,” said Andrea Gardella, an economist and country risk analyst at EDC. “The tool is intended to provide companies a very first glance at the global, regional and country-level risk environment.”
For example, if you’re selling a good to Venezuela, you can look at the profile and determine that transfer and conversion and access to foreign currency are issues in that market.
“A next step might be a conversation with EDC to better understand the risks and how to protect themselves against those risks,” adds Gardella.