Canadian government backs export-support programme for businesses

Project in line with government's trade diversification strategy.

Canada is investing in a major export-support programme designed to assist businesses in Ontario in exploring growth opportunities in Europe.  

The $3.6m (CA$5m) "GoEU" project will be carried out by Toronto Business Development Centre (TBDC), a non-profit business incubator set up by the City of Toronto in 1990. Nearly CA$2.5m of the programme's funding will come from the Federal Economic Development Agency for Southern Ontario (FedDev Ontario) via the Regional Tariff Response Initiative, whilst another CA$2.5m will be provided by the provincial government.

"Through GoEU, Ontario businesses will receive export‑readiness assessments, tailored advisory services, and direct access to in-market European expertise to support expansion into new markets," FedDev Ontario announced.

"TBDC will prioritise firms looking to diversify exports in response to tariff-related pressures, including those in automotive, steel, and related supply chains, whilst leveraging in-market support to provide on-the-ground insights, connections, and partnership opportunities."

The goal is to help these businesses better understand market conditions, build international partnerships, generate export prospects, and mitigate entry risks.

FedDev Ontario noted: "By supporting southern Ontario companies to expand into Europe, this project supports the government's trade diversification strategy and the goal set in Budget 2025 to double Canada's exports outside the United States over the next decade."
 
According to Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for FedDev Ontario, the local businesses seeking to grow in Europe "have what it takes to compete" and stand to gain the necessary knowledge, networks, and market access from the government-funded export-support programme by TBDC.