Why Canadian Exporters Are Focusing To Asia More
Monarch Industries Ltd. and many other Canada-based manufacturers are starting to shift their efforts and focus on another market – exporting to China and other Asian countries.
With 8 individuals working on different functions such as sales, marketing and engineering, Winnipeg, Canada-based manufacturer Monarch Industries Ltd. embarks on a task that might overwhelm many others – and that is to start exporting to China.
Although Monarch Industries has worked more exclusively with the United States these past many years, they have a different focus now and wants to start shifting up to 80% of their sales first to China and eventually, to other Asian countries as well.
Monarch Industries CEO, Gene Dunn, declares “We've had solid growth up until this year” and quickly adds “we've had no growth this year.” This explains their decision to start working with other countries as well especially because one of their primary objectives is to triple their annual sales in the next 10 years. With the economic challenges being felt especially in the U.S, the company should really look for other opportunities on a global scale so that they could continue making sales. Simply stated, the company is “looking at poking our noses in all corners of the world,” Dunn continues.
In reality, Monarch Industries is not alone in this sudden shift of business priorities. When it comes to exporting, countless exporters are also looking at other opportunities upon the realization that doing transactions with the U.S. is not a guarantee for long term business deals. Even the statistics indicate that China has already surpassed Canada in the export business when, in previous years, it was Canada that was on the lead. This move is not just a sudden change but may be a long term plan for most Canada exporters because without doing it, their own business industry might be put in serious danger as well.
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