Thursday, October 14, 2010

Fewer SMEs Exporting Than in 2000: CIBC

(The Toronto Sun – QMI Agency)

The number of small businesses in the export business is falling, and the low level of internationalization carries a significant cost to the wider economy, including lost jobs, CIBC World Markets said in a report Tuesday.

Only 9% of Canadian small- and medium-sized enterprises are in the export business today, down from 10.7% in 2000, a troubling trend given the importance of emerging markets to the global economic recovery.

CIBC estimates the moderate decline in SME trade activity over the last decade impacted no less than 300,000 jobs in terms of actual job loss and foregone opportunities. Read more here.