Veterans Electronics Inc. Expansion in to Canada

Published: 2021-06-29 07:00:04
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Veterans Electronics Inc. Expansion in to Canada Keokolo Pa’akoniaOklahoma Wesleyan University22 October 2017Abstract        Veterans Electronics Inc. (VEI) intent on expanding on the global market has evolved over the past few years. With the growth of our products, demand on the international front, and production prices on a consistent rise here in America, VEI plans to expand to a more cost productive and aspiring market. With the rise of business interactions globally, the need for office equipment is at an all-time high. It’s because of these events VEI emergence in Canada is vital to the continued growth and success of our company and no time is more appropriate than now.         Canada boasts an enviable combination of strong basic macro-economic fundamentals, an abundance of key natural resources, top-quality human resources and an extremely pro-business climate – all of which make the country a ‘must-explore’ market. In addition, Canada has developed one of the world’s great transportation networks and attracts some of the globe’s top talent to live and work there (Global Business Culture, n.d.).Background on Canada        Canada’s lawmakers 2016 budget funded the Public Transit Infrastructure Fund with $3.4 billion which will be utilized for infrastructure upgrades beginning in 2016 and running through 2019.  Canada’s 2017 budget shows further investment from the government, investing another $20.1 billion over the next 11 years. Furthermore, Canada Infrastructure Bank plans on investing another $5 billion towards infrastructure improvements (Infrastructure Canada, 2017). These infrastructure improvements will catapult an already remarkable transportation infrastructure. April Terreri (2004) writer for Inbound Logistics wrote: Canada boasts one of the world's most modern and highly developed transportation infrastructures. Among G7 countries, Canada's infrastructure was ranked number-one by the World Economic Forum's Global Competitiveness Report.          Canada ranks 38th in population with an estimated 36.7 million citizens and bolster an unemployment rate that hovers around 6.9 percent and a population density of 4 citizens per square kilometer which ranks 228th in the world. Canada’s unemployment ratio of 6.2% for males and 5.4% for females between the ages of 25 and 55, prime labor and entrepreneur ages, and fosters 25% population holding either a Masters or Bachelor’s degree.          A significant report prepared recently by the RAND Corporation, Global Technology Revolution 2020 (2006), concludes that the technologies and applications with the greatest potential for significant global impact by 2020 fall, not surprisingly, into the four broad categories of biotechnology, information technology, materials technology and nanotechnology. Except for nanotechnology, these major enabling technologies have been singled out, for at least the last 25 years, as areas of exceptional opportunity. And experience has borne this out (The Committee on the State of Science and Technology Canada, 2006). With 25% of working Canadians holding degree’s and a booming technology industry Canada not only possesses the means for expansion but allows more ports for exports outside of North America and with its geographical proximity to the United States shipping cost, travel and cheaper energy cost should offset a slight increase in labor cost.

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