The Opportunities NB (ONB) Export Development team is, under normal circumstances, busy preparing for in-market activities such as trade missions, trade shows, and conferences. With COVID-19 altering everything about the way we do business, however, we have altered the way we support our many exporting companies.

Just like New Brunswick businesses, we recognize that in the face of this global pandemic, it is essential to remain agile and pivot to new business models when possible.

To wrap up our weeklong focus on the Export Development Team’s post-COVID-19 activity and focus areas, we asked for their best advice for companies moving forward. 

What is your best advice for New Brunswick companies as they all adapt to these unprecedented times and the changes they face post-COVID-19?

In these challenging months ahead, it is essential for our exporters to update their market assessments on a far more regular basis so that they may uncover new opportunities and scale their efforts accordingly. Porter’s Five Forces Framework, for example, is incredibly insightful about the need for market analyses.

Success is likely to come quicker to those businesses who identify an opportunity and make the right pivots to new markets and the right adaptations to offer existing customers with something better.

Look at these times as an opportunity – it looks tough, and it may be tough, however, there are opportunities with changing market demand, shifting production, and new trends. Spend the time and resources to better understand your customer and invest in improvements.

Those companies who see the opportunities will be resilient, adaptive, and resourceful. They will inspire us! They will grow, and they will increase revenues even during a global pandemic and economic downturn.

Embrace change, adapt, bring in the right technology, and the people that understand it and can effectively use it.

We would add, take advantage of the resources that are available to help companies prepare and be ready to execute on their revised strategies. Reach out to our Export Development Team who can provide guidance and support your growth in this challenging situation.

Leverage the expertise of your fellow New Brunswick companies. Many of them have been seeing export success in markets across the globe for years. We have collected some of their stories over the past few years.

Recognize that many great export resources still exist, and make sure you use them.

Here are just three quick examples:

Finally, be sure to keep an eye on all the support ONB can offer as it relates to dealing with COVID-19.

For more information contact our Export Development Team directly.