Companies that want to stay in the business of exporting have to look for new opportunities in different markets, and stop relying on trade with the U.S.

Many Canadian businesses have focused their export efforts on the United States for decades. The benefits of close proximity and favourable currency differentials were hard to ignore. But with the recent greenback devaluation and the jittery recovery of the American economy, this single-focus stance has placed many Canadian companies in a position of export stagnation.

While this situation is expected to ease in the coming months, Canadian businesses must now, more than ever, focus on global export initiatives to compensate for economic fluctuations south of the border. And as China emerges as a major U.S. trade partner, global export must become an insulator against further U.S. trade turmoil.

The underlying dilemma, however, is that many Canadian businesses are apprehensive about stepping away from the American comfort zone. They feel limited in their capacity to expand globally and they hesitate to implement global market diversification initiatives.

Yes, the world is a big place and global expansion is not an easy task, but he who waits is lost. Emerging middle classes around the world are the new export frontier and they are gaining increased attention from many foreign companies.

The time is now to jump in, consolidate, and hang on. Start with uncovering foreign markets that will accommodate your product, or think about tweaking your product to match the markets. Competition, demand, and costs are critical factors to examine. But also consider your products' global scope, eco-responsibility, cultural acceptance, and key differentiators. Experiment with making your product unique or chic.

Once confident your product will present well in the new market, research the export requirements. The Canadian High Commission Trade Office located in your new target market can usually be of assistance. Trade representatives can provide information on distributors, tariffs, logistics, and advice on the overall business environment. In some cases, they will act as a liaison with potential clients. Their mandate is to expand global business for Canadian companies, and they are an important resource to be utilized.

Global expansion offers a watershed of opportunities for businesses interested in maintaining export options and financial stability. "Business as usual" is no longer an operationally secure philosophy. "Global presence" is now the foundation for future success. It is up to Canadian businesses to expand their horizons, be globally aware, and be prepared to engage new global markets as they emerge.

Lee Corey is the president of Corey Feed Mills in Fredericton, N.B. and has 26 years of global export experience.