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“Undoing globalization would be very costly....”
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The new year has only just begun, but it's already proving to be another interesting one for Canadian small and medium businesses (SMBs). While economic uncertainty and the changing political landscape are making it difficult to understand the challenges that lie ahead, one thing remains clear: Canadian entrepreneurs who are embracing technology -- and ecommerce, in particular -- are more diversified and feel better equipped to face 2017.
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But currency traders could defeat the proposed border tax.
According to the Innovation, Science and Economic Development Canada, innovative SMEs including businesses who export, tend to outperform non-innovators. Today, reaching international markets is vital for continued growth for Canadian entrepreneurs.
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"Zero appetite" for interest rate hikes at the Bank of Canada.
We used to be an oil and manufacturing power. What will we be now?
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In Canada, less than 20 per cent of small and medium businesses (SMBs) have an online retail presence. The reality is that many SMBs are so busy working to keep their businesses running that they have only ever given a brief thought to going online. It's a "nice-to-have," but not a "must-have."
Canada's trade deficit hits record high.
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"Where's the growth going to come from?"
We'd be better of with lower oil prices and a lower loonie, CIBC says.
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But energy firms still see dark clouds on the horizon.
Unemployment and income inequality are issues that are plaguing both countries; so, policies to ameliorate rather than exacerbate them need to be considered. Further research need to be conducted to understand the impact of the TPP on Canada and the U.S. before the trade agreement goes into effect.