Forbes has spoken about it. The Agenda has spoken about. M.I.N.T is the next hot thing in global business. Mexico, Indonesia, Nigeria and Turkey are considered to be nations full of great opportunity while having particular risk factors.
The question we have to ask ourselves in Canada is, are we afraid of emerging, non traditional markets? One of the guest on The Agenda seems to imply that Canadian businesses should only invest in nations where Canada has agreements with. There is some validity in this opinion. Every organization has to protect its interest and try its best to reduce risk.
However, we do need more Canadian firms to take on emerging markets, even in places that we wouldn’t consider. Canada has an array of expertise in natural resources, construction, logistics/shipping, agriculture, finance/banking, information technology and mining that could be used to expand revenue growth.
In turn, the knowledge transfer that Canadian firms can bring to an array of markets could great help bridge the digital divide and assist with many Social Responsibility issues.
It is time for many Canadian firms to look at M.I.N.T, BRICS and others as growth markets. Of course, we will need our investors and banks to also open up to the reality that the best opportunities out there, may not be in your traditional comfort zone!
Blog by Radcliffe Dockery