SMEs set to increase international business

More than half (54%) of small and medium-sized enterprises currently involved in foreign markets expect to expand their international activity over the next year — and 41% say they will increase it by more than 10%. Those are the findings of a survey conducted by HSBC Bank Canada in Montreal, Edmonton, Calgary, Toronto and Vancouver. The latter two cities are the most optimistic about their growth, with 67% and 71% respectively anticipating an upward trend. Montreal businesses are the least hopeful, with only 30% forecasting growth in international opportunities in the coming year.

A separate study by KPMG Enterprise confirms these great expectations: 60% of Canadian private companies surveyed said they plan to expand their presence outside Canada during the next five years, and 67% said revenue from foreign operations would grow as much as 80% during this period.