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Exploring the Benefits of Outsourcing for the Canadian Economy

Rahul Maingi

By admin, January 8, 2016

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Outsourcing is a business strategy that has been around for decades. However, it has developed somewhat of a negative reputation in recent years. Many fear that companies that outsource some or all of their business practices to other countries such as India, China, and many other European countries are negatively impacting the Canadian economy.

Outsourcing is Vital for Small Business Growth

What many people fail to realize is that outsourcing can be beneficial to the Canadian economy and is a sound business strategy, which is not going to disappear anytime soon. “Outsourcing will not go away because the economics behind it are so well-established, says Ron Babin, professor of business at Ryerson University to CBC News.

This is especially the case for small businesses that are just getting off the ground. Many small business owners point to outsourcing as a key survival strategy during the lean start up years.

“According to some Canadian entrepreneurs, in order for a domestic business to grow, it has to capitalize on efficiency, and that could very well involve looking outside the company and sometimes going abroad for workers”, says Alexandra Kazia on CBC News.

New businesses need flexible, adaptive and affordable strategies to help grow their business and compete with other more established competitors in their market. Outsourcing affords them the opportunity to be more competitive.

Outsourcing Helps The Canadian Economy Thrive

There are a number of key ways in which outsourcing as a business strategy can help the Canadian economy thrive now, and into the future:

Outsourcing is an effective business strategy that will not only help companies thrive and achieve their business objectives, it will also help the Canadian economy grow and evolve in the years to come.

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