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Export.gov brings together resources from across the U.S. government to assist American businesses in planning their international sales strategies and succeed in today’s global marketplace. They also provide ideas for opportunities in under-served areas. Go to this website: http://www.export.gov/ and click on the "Opportunities" tab. Here you will find a list of export opportunities by industry and country. Follow the links and pick one of these opportunities, which will be the topic of your short paper.
Write a short paper about your chosen opportunity in which you answer the following questions:
What is the opportunity?
Do some research on this opportunity and give your opinion as to the viability and profitability of this venture. If you had the resources, is this something you would invest in? Why or why not?
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Answer
An Importing Business in Canada’s Apparel Industry
A business opportunity is when in an industry, certain circumstances make it possible for a startup to be successful. In Canada, for instance, there is a business opportunity in the Apparel industry mainly because of the present circumstances. Starting a large scale apparel business in Canada presents an opportunity that many United States entrepreneurs would be interested in. This is because the fashion industry in this country quite small. However, this may not be the case for long since many individuals are becoming interested in it since this industry features few entry barriers, extremely low capital investment, and the identification of new niches (Apparel Retail Industry Profile: Canada, 2015). Therefore, it will be very easy to enter this market and flourish without having to experience a lot of difficulty.
The opportunity is also present in the form of a constantly increasing need for imports. This is because the productions of this country have gradually declined. Presently, 79% of the apparel sold in Canada is imported (Campaniaris, Murray, Hayes & Jeffrey, 2015). The demand for products, however, is unchanged since people still need to dress and look good. Unfortunately for Canada, there has been a rise in the Canadian dollar which makes it expensive to produce domestically. This, therefore, increases the competitiveness of other international businesses which have settled into the country. Another reason why importing into Canada presents an opportunity, is that the industry is disintegrating vertically since manufacturers are now becoming retailers (Canada's Textile and Clothing Industries, 2005). Therefore, they need people who can manufacture and supply them with goods so they can sell. Lastly, the production levels of the country are lessening since there are no people to train new workers. Companies, therefore, have to make due with those who are present.
References
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Apparel Retail Industry Profile: Canada. (2015). Apparel Retail Industry Profile: Canada, 1-35.
Campaniaris, C., Murray, R., Hayes, S., & Jeffrey, M. (2015). The development of an apparel industry business model for Canada. Journal Of Fashion Marketing & Management, 19(3), 328-342. doi:10.1108/JFMM-07-2014-0050
Canada's Textile and Clothing Industries. (2005). Canadian Economic Observer, 18(3), 3.11-3.16.
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