Pursuing trade, investment, and entrepreneurship opportunities between Canada and the United States can lead to new opportunities for your team members to move from one country to the other. And when moving from Canada to the U.S., an important facet of a household move is how to manage Canadian investments once one is a U.S. resident. John McCord CFP® CIM® CRPC® TEP, Vice President, Portfolio Manager and Partner at MAPLE charter member organization, Cardinal Point Wealth Management, profiles some key considerations for managing your investment portfolio.
This month our look north and south across the Canada-U.S. border starts with getting an expansion to the U.S. right. As Paula Cruickshank, Senior Vice President, Ontario at the Business Development Bank of Canada shares, when the time is right for U.S. expansion, you need to ensure you also have the right strategy. Paula discusses how even when Canadian businesses are well positioned for U.S. expansion, having the right strategies and fundamentals in place is still critical for success. And she shares insights into how to get it right.
And when it comes to getting goods to and throughout Canada, there is no organization more fully invested in getting this right than Purolator International. Paul Tessy, Senior Vice President, puts the role of logistics companies in a global context in his article. Consider all of the whitewaters that getting goods into a consumer's or customer's hands must navigate. Supply chains are being moved out of China. The explosion of e-commerce. The rise of machine learning. Fierce competition for skilled workers. Evolving consumer expectations. The certifiable march toward corporate sustainability. This decade, logistics companies have faced the need to contend with an influx of change. In his article, Paul Tessy reviews evolving industry conditions to talk about what is in store for 2024.
You may not be aware that 2024 ushered in Canada's modern slavery legislation, the Fighting Against Forced Labour and Child Labour in Supply Chains Act which came into force on January 1, 2024. With the Act, Canada introduced reporting obligations to combat modern slavery in the supply chains of many businesses and other "entities" with connections to Canada. Lindsay Clements and Jennifer Wasylyk, Partners at Cassels Brock & Blackwell LLP, profile this important legislation for us.
We begin with a look at what 2024 may hold for small-to-mid cap stocks from TMX Group, owners of the Toronto Stock Exchange and the TSX Venture Exchange. The authors, George Khalife (Chicago), Erik Andersen (Dallas), and Delilah Panio (Southern California) discuss how 2024 has the potential to be a landmark year for small-cap stocks and how the TSXV not only presents a viable option but also a unique pathway for growth and success to U.S. companies. As we venture further into 2024, let's watch closely as this exciting chapter in the financial markets unfolds, potentially reshaping the future of micro caps.
It is my pleasure to share some of the highlights of 2023 for our Canada-U.S. community. It was a privilege for our MAPLE team to engage with organizations across sectors and markets throughout the year many of whom we have since welcomed as new members. Networking and storytelling are the building blocks of MAPLE and events, both our own and partner programs, our MOMENTUM e-publication and our Conversations video series all played important parts in connecting people and ideas together.
As we now lean into a brand new year, our members are working in over 25 sectors and are based in over 25 markets across Canada and the United States supported by 5 chapters each led by an Executive Director.
The H-1B visa program, designed to bring highly skilled foreign workers to the US, has become increasingly complex and competitive. With annual visa caps and lengthy processing times, many companies struggle to secure H-1B visas for their talented employees. As a result, many companies are turning to Canada, a country with a strong tech talent pool and a more streamlined immigration process.
In this article, I will discuss the problems with the H-1B program and why Canada has become such an attractive option for corporate immigration. We will also discuss how companies can leverage the expertise of a Professional Employer Organization (PEO) to skip lengthy immigration processes, relocate their foreign staff to Canada, or hire remote employees in Canada, whether they have a Canadian office or not.
The digital economy has presented complex challenges in the allocation of taxation rights between countries. Large multinational corporations, without establishing a physical presence or tax base in Canada, have been generating substantial revenues through digital services within the country. These activities include selling digital services, collecting and monetizing user data, providing social media services and delivering digital advertisements to Canadian users. Under the current multilateral tax frameworks, these digital service revenues remain largely exempt from taxation in Canada unless allocated to a physical presence. This challenge is compounded by the exponential growth of the digital economy, which now accounts for nearly 20% of the global economy.
Doing business cross border has significantly changed due to the pandemic. This article looks at changes in doing global business in recent years from a practitioner's perspective, specific trends and factors that impact successful brand entry into a new country and how several countries where you might take your business are expected to do economically in 2024. Data referenced in this article is sourced from the EGS Global Business Bi-Weekly Newsletter, monitoring over 40 online information sources, visiting many of the countries listed post-pandemic and input from the EGS network of in-country associates who live and work in their economies.
We are pleased to share some of the key takeaways from a recent "Fundraising in Today's Market" event in Santa Barbara, California organized by our partner, Pasadena-based Alliance for SoCal Innovation. This event series aims to help founders become more adept at securing the capital they need. A panel of local experts answered questions from the Santa Barbara startup community. Thank you to Eric Eide, Managing Director of the Alliance for SoCal Innovation, for sharing some of the top pieces of advice and summarizing some of the key themes discussed.
This month we tap into the expertise of Toronto-based Sterling Capital Brokers, one of the leading independent benefits consulting firms in Canada. Andrew Blanchard, Sterling’s CEO, shares some key insights about group benefits planning. In today's dynamic economic climate, finding the right balance between providing valuable benefits to employees and controlling costs is essential. It is therefore key for organizations to design their entire benefits program so that it provides value and meets the objectives of the enterprise.
San Bernardino County is open for business! This is the premise the County had the pleasure of promoting while hosting a “Growing Global Partnerships” roundtable and tour with the MAPLE Business Council and Canadian business leaders in August. With Canada consistently a key market for international trade and foreign direct investment, the County was honored to share information regarding its many business advantages, learn more about Canadian business initiatives, and support the MAPLE Business Council by becoming a member.
Roland DGA Canada is the Canadian sales arm for Irvine, California-based Roland DGA Corporation, which oversees North American sales, marketing, and distribution for parent company Roland DG Corporation headquartered in Hamamatsu, Japan. Created in 1995, Roland DGA Canada employs five staff who are responsible for sales and distribution to approximately 50 resellers throughout Canada. We recently spoke with Roland DGA Canada’s National Sales Manager, Don Ross, about the strong working relationship between his office and the U.S. office, Roland DGA Canada’s approach to core markets, and his view of the impact current economic trends are having on the Canadian sign and graphics market.
Have you ever wondered what keeps the heartbeat of Canadian-American trade pulsing? Look no further than Canada's international bridges, the spectacular landmarks that serve as the lifeblood of our economic relationship with the United States. The Federal Bridge Corporation Limited (The FBCL), a Canadian federal Crown corporation, shoulders the responsibility of many of these vital arteries, maintaining them to be open every second of every day, all year round, at strategic locations like Sault Ste. Marie, Point Edward, Lansdowne (Thousand Islands), and Cornwall, Ontario.
Does your software team rely on ChatGPT for coding? Or perhaps your sales and marketing departments are harnessing its power for product campaigns? Generative artificial intelligence tools (AI tools), such as ChatGPT, continue to become integral for day-to-day business operations. However, without an internal artificial intelligence usage policy (“AI Policy”) in place, these tools can expose the business to significant legal and financial risks.
With the predicted increase in precipitation and storm events over the coming decades, the issue of how to effectively manage stormwater is becoming more pressing than ever before.
From the water we drink, to the snow that we play in, and the tennis courts we socialize in, all are affected by permeable paving. Groundwater is our source of drinking water, and precipitation can carry harmful chemicals - once those chemicals fall onto the ground and pavement, without a proper filtration system which is included in a permeable solution, those chemicals go back into the environment, including the air and the land. Permeable paving systems help safeguard our health by safely disposing of stormwater runoff.
The World Needs more Canada….Still.
That’s what I thought when old friend Clark Grue, CEO of Rainmaker Global Market Access, invited me late last Fall, to co-found and Chair, Celebrate Canada Worldwide; a not-for-profit committed to bringing Canada to the world stage. After 30 plus years dedicated to representing the country I love, I just couldn’t resist.
Six months later, on June 29, 2023, following a 10-year hiatus and a global pandemic, our flagship event, "Canada Day London" made its triumphant return to Trafalgar Square. 30,000 of our closest friends came together to soak in the goodness of Canadian culture, making it the largest Canada Day celebration in the world outside Canada.
Remaining flexible in a changing economic environment is the focus of the article by Glenn Yonemitsu, Managing Director of High-Impact Firms Advisory Services at the Business Development Bank of Canada. Based on over 20 years of working with high-growth companies and identifying the common things that winners and 'market makers' do, Glenn identifies 7 things a business can do to remain flexible and take advantage of market opportunities. Underlying these are the realities that cash is king and that more opportunities are given to those who act proactively.
Karl Schamotta, Chief Market Strategist at Corpay, provides us with a mid-year outlook on the Canadian dollar. The loonie is "lifting off" thanks to fiscal support, stabilizing financial conditions, and a historic surge in immigration which are all helping the Canadian economy and the loonie defy bearish expectations.
In celebration of our community on the occasion of our 8th anniversary, we are honoured to share our interview with U.S. Ambassador to Canada, David Cohen, who came to Ottawa in 2021 as President Biden's personal representative in Canada.
As he shares in our interview, "...my priority is maintaining and advancing the U.S.-Canada relationship. That includes restoring trust, and re-instilling confidence between partners. Everywhere I go, I want to make sure Canadians know that the United States is back and that we want to strengthen our partnership with Canada."
Expanding your Canadian business to the United States unveils an exciting growth opportunity that requires a well-planned roadmap. This article aims to identify key tax factors that owner-managers often consider when navigating cross-border business opportunities. Unfortunately, some business owners leave tax issues to the end not recognizing they are foundational to your business and in some cases are difficult to resolve later. In addition, unlike Canada’s relatively uniform federal and provincial taxes, the U.S. has over 13,000 taxing jurisdictions between federal, state, county and other political subdivisions for income, sales and other taxes. Even in an electronic world, U.S. tax law at all these levels may amount to a paper blizzard. This article will focus on the U.S. federal tax consequences.
It was over a family dinner in in 2016 watching divisive rhetoric grow and sharpen over social media and during election cycles, that my wife Lisa and I thought we had to do something – anything – to resist what we saw as the false logic of many political leaders. Worldwide, we had observed the rise of “populist” movements and wondered how much they could take hold. Populism on any end of the political spectrum can be dangerous. The simplicity of the message is good at capturing raw emotions, but ultimately just reflections of false prophethood that don’t offer real solutions to real problems. It also leads to political sectarianism that excludes rather than unites when we all know we are always stronger together, especially in these uncertain times. Like many, Lisa and I stood wondering what this century will bring for our children. And how we might resist.
How about having everyone over for dinner?
The rising call from consumers and business partners is increasingly clear: it is not only the right thing to do, but it is in fact the responsibility of companies to prioritize sustainable business practices.
When it comes to the shipping industry this responsibility takes on heightened importance. In fact, according to the World Economic Forum, if the shipping industry were a country, it would be considered the sixth largest emitter of greenhouse gas emissions in the world.
The Latino GDP Project seeks to provide a factual view of the large and rapidly growing economic contribution of Latinos living in the United States. Gross Domestic Product (GDP) is a broad measure of economic activity, representing the value of all finished goods and services produced within a geographic area in a given year. GDP growth is a nearly universal summary statistic for the performance of an economy.
Long Island is often mischaracterized as solely a bedroom community of the NYC business sector. While it’s true that Long Island was the birthplace of the first housing development in the U.S. for returning World War II vets (Levittown), it has a much more storied history.
The life sciences industry has long been a major player in North America, with Ontario, Canada being at the forefront. With a rich history of medical breakthroughs, including insulin, stem cells, and remote robotic surgery, Ontario's life sciences sector is Canada’s largest, employing over 70,000 people and generating over $65.2 billion in revenues from 1,900 firms. Over the past two and a half years alone, global biomanufacturers have invested nearly $3 billion in the sector and in diverse regions across the province, from Windsor to Hamilton and Ottawa to Thunder Bay, which underlines Ontario’s appeal as a destination for life sciences.
It is no secret to this audience that Canada is a global leader in emerging technologies such as autonomous vehicles and robots, artificial intelligence software, and Industry 4.0 or the digital revolution. So, you won’t be surprised to learn that Canada is now motoring towards producing an all-Canadian made electric automobile.
The initiative called “Project Arrow” is organized and managed by Canada’s Automotive Parts Manufacturers Association (“APMA”). According to Flavio Volpe, APMA’s president, this effort is “the biggest industrial collaboration project in Canadian automotive history” … likening the program to “Canada’s moonshot”.
Gesta Abols and Neil Kravitz, Co-Leaders of the Cross-Border and International Practice at Fasken together with Paul Blyschak, Counsel, identify 5 areas of interest that U.S. buyers should be aware of when pursuing M&A opportunities in Canada.
The authors point out that private M&A in Canada, as well as Canadian business practice, are very similar to the U.S. It is no surprise then that Canada is consistently amongst the most popular destinations for U.S. outbound investment.
This month we are honoured to interview Tom Clark, Canada's new Consul General in New York appointed by Prime Minister Justin Trudeau. CG Clark is certainly a familiar face to millions of TV viewers across Canada as he was one of the country's most respected broadcast journalists. Most recently, he served as chair of Global Public Affairs, one of Canada’s largest public affairs and strategic communications firms. Our New York Chapter looks forward to supporting CG Clark as we promote economic ties between Canada and New York State.
Expansion to the U.S. market will also typically require making key hires to lead, manage and support the U.S. business. Azhar Janjua, Head of MAPLE partner organization, Communitech Outposts, shares some of the key remote hiring trends for Canadian businesses in the United States with respect to location and skill.