Feds boost export market assistance for SMEs

The federal government, through its Global Markets Action Plan, has announced $50 million over five years for a new program to assist firms exporting to high-growth emerging markets for the first time. Between 500 and 1000 small- and medium-sized enterprises are expected to benefit annually from the nonrepayable assistance and recipients are required to provide matching funds. The government has also expanded the Trade Commissioner Service with $42 million over five years and $9.25 million annually thereafter. An additional 20 trade commissioners will also be deployed to handle increased deal flow. The government is aiming to near double the number of exporting SMEs active in emerging markets to 21,000….