Partnering: The Key to Global Success

Abstract

As business partnering is on the rise throughout most of the developed world, this article will focus on the barriers to domestic and international trading for Canadian firms and how to combat these barriers for a swift business development and expansion plan. While it is important that Canadian businesses grow and expand their businesses, it is equally as important that domestic firms create and offer a more creative and equally valued product or service to foreign companies. This will help domestic firms seem more attractive to foreign companies and lay the groundwork to an easier partnership with mutual interests. The removal of trade barriers will benefit Canadians greatly, because It gives Canadian firms the opportunity to invest, create jobs and develop new technologies, products and services, and to trade around the world. A third of Canadian GDP is trade related, however, most of that is handled by foreign transnational firms. The Canadian government must invest in domestic small businesses to encourage them to take more prominent advancements in exports and introduce them to the international market so that they can easily partner and expand their products and services. The new trend in business expansion in today’s world is one of partnering domestically and internationally in which firms can gain exposure, networking opportunities, and develop new technologies and relations that can help domestic businesses expand and create more jobs resulting in supporting the domestic economy.