Empower Your North Okanagan Business: Navigate U.S. Tariffs with Our Expert Workshop!

Community Futures North Okanagan is hosting an in-person workshop titled “Growing Your Market in Times of U.S. Tariffs” on March 12. This workshop is designed to help local businesses cope with the challenges presented by U.S. tariffs.

Recently, the U.S. imposed tariffs of 25% on Canadian exports and 10% on Canadian energy. This has raised many questions for businesses about how to proceed in this evolving trade environment. In response, Community Futures North Okanagan held a webinar on February 27, and now they are offering an in-person version to support businesses in adapting to these changes.

The workshop will be led by Amber Piche and Raeanne Anderson, export advisors from the Export Navigator program. This initiative helps B.C. businesses expand and reach new markets, whether in Canada or overseas.

Piche notes there are many benefits to exporting, such as diversifying markets and enhancing business resilience. The goal of the workshop is to equip business leaders with the knowledge to identify risks and make informed decisions about their markets. They want participants to understand the various cultural, economic, and political factors that could influence their success.

This workshop isn’t just about finding alternatives to the U.S. market; it’s about understanding which market is right for each business. “The U.S. might still be the right fit,” Piche shares.

Tariffs represent one of many market risks. Others include misjudging consumer demand or failing to consider local preferences. Anderson highlights how the COVID-19 pandemic drastically changed market dynamics and consumer behaviors, making adaptability vital.

Piche also discusses the de minimis exemption, which currently allows goods valued under $800 to cross the border without extra fees. Speculation exists about changes to this exemption, but for now, it remains. If it were to disappear, the paperwork for small shipments would create significant hurdles for businesses.

The workshop will address practical considerations for businesses thinking about exporting. Participants will explore questions such as: “Do we have the capacity to fulfill orders quickly?” and “Are we ready for the demands of a new market?”

Anderson emphasizes the importance of considering the specifics of potential new markets, such as geographical location, population, and language. She shares past examples where companies like Colgate and Ford encountered marketing failures due to cultural misunderstandings.

During the workshop, attendees will engage in a hands-on activity to create an export plan, taking various factors into account, including government stability. Piche clarifies that while there isn’t a one-size-fits-all answer to navigating these tariffs, the workshop will help businesses explore tailored solutions.

The workshop will take place from noon to 1 p.m. at the Community Futures North Okanagan office, located at 3105 33rd St. The event is free, but spots are limited, so it’s advisable to register ahead of time on Eventbrite.

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