TORONTO, ON, April 23, 2019 – Yesterday, the Honourable Mary Ng, federal Minister of Small Business and Export Promotion announced a $6.7 million investment through FedDev Ontario and Innovation Science and Economic Development Canada for the Toronto Region Board of Trade to expand their Trade Accelerator Program (TAP) throughout Ontario. The funding will help educate and enable up to 1,000 additional small and medium-sized businesses to export to new markets over the next three years.
“Our global brand is strong once again and the world wants – and needs – more Canada. Today’s investment in the Toronto Region Board of Trade’s Trade Accelerator Program will help nearly 1,000 small and medium-sized businesses export to 1.5 billion customers made available through Canada’s many trade agreements,” said Minister Ng. “Our government, under the leadership of Prime Minister Justin Trudeau, is delivering on our commitment to help small and medium-sized businesses start up, scale up and access new markets.”
Operated by the Board’s World Trade Centre Toronto, TAP is an innovative, dynamic six-week workshop that provides companies with access to Canada’s top exporting advisors, resources and contacts, giving them the training and support they need to scale up, develop and execute an export plan.
Since its launch in October 2015, TAP has expanded to seven cities across Canada. TAP graduates report an average growth of 47 per cent in export sales one year after participation, and more than 85 per cent of participants have entered new export markets since completing the course.
“Our Trade Accelerator Program has demonstrably empowered more than 530 businesses across Canada with proven success. It is imperative to get more small and medium-sized businesses exporting – and existing exporters to diversify their international markets – to create jobs and enhance our economic competitiveness,” said Jan De Silva, Toronto Region Board of Trade President & CEO. “We thank the federal government for their investment in enabling the export journey and success of many more companies in communities throughout Ontario.”
The government support announced yesterday includes a $5 million investment from FedDev Ontario which will allow World Trade Centre Toronto to expand the program to 15 communities across Southern Ontario. In addition, a $1.7 million investment through Innovation, Science and Economic Development's Mobilizing SMEs to Export initiative will take TAP into unserved Northern communities across Canada. TAP is also supported by its National Partners: RBC, Export Development Canada (EDC) and Air Canada Cargo.