Egypt matters

Freedom appears to be breaking out all over in the Middle East. The cool thing about freedom and democracy is that it leads to people getting richer. That's because, left to their own devices, people will work to better their circumstances. There are hundreds of millions of people in the Arab nations that have been living with sluggish economies and impoverished institutions because their greedy leaders' misrule. If those situations improve in places like Tunisia and Egypt, smart local companies could make a bundle rushing into those opening economies.

Finding a local agent is the big key to getting involved in a foreign market. You need someone on the ground who knows how business works in the target country and what the most effective channels are for reaching customers. Just reading up on local regulations is never enough because how regulations are interpreted and applied is at least as important as what is written in black and white. The agent will also be a key player in crafting messages for the new market because a local understanding of nuances and language is so important.

Trade shows are often good places to start looking for an agent for a foreign market. The country's economic development offices will often have booths at large, international shows and these can be good places to find contacts who can connect you to other contacts that make eventually lead to your agent. Universities are great sources as well. The nice thing about places like Egypt is there are lots of well-educated, English speaking young men there who are very hungry for a better life.

Are we ready for an export uptick?

American consumers have saved enough and reduced their debt enough to contemplate a return to spending,the Economic Development Corporation says. Welcome news. But southern Ontario's export-oriented manufacturers may have difficulty reaping the rewards if they have done what most do and cut back on marketing expenditures during the last year.

The EDC report paints a picture of pent-up demand. That means American consumers have been sitting at home, looking at ads and dreaming of what they will buy once they have their credit card balance under control. Companies that cut back on their advertising spend will not have been among the ads they were looking at.

The best those companies can do now is to try to piggyback on the growth of those who did position themselves properly during the downturn and hope the rising tide floats all boats. Exploiting internet searches is a good way to do this. Google ads with the same keywords as competitors will turn up on search pages when consumers go looking for those competitors. Comparison shoppers may be snared. Attending trade shows and home shows could put a Canadian exporter who did not promote in a booth next to one who did, essentially co-opting his marketing dollars.

Tax refund time is coming up, so the time to raise the market profile is now.