A new report argues small and medium-sized GTA businesses need to trade more with the world — and especially Europe — to boost economic growth.
According to the report, published Wednesday by the Toronto Region Board of Trade, only 4 per cent of Canadian small and medium-sized enterprises (those with fewer than 500 employees, also known as SMEs) export. That’s compared to 28 per cent in Germany, 27 per cent in France, and 24 per cent in Japan. Among G7 nations, Canada finishes last.
By comparison, 23 per cent of large Canadian firms trade internationally. The report found that if the same proportion of SMEs did so, they would generate $225 billion more in exports and create 2 million new jobs.Read More