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26 - The Oakville Beaver, Wednesday October 11, 2006 www.oakvillebeaver.com SMALL BUSINESS WEEK Continued from Page 7 OCTOBER 15 - 21, 2006 But, at the same time, remember that nothing is set in stone. Success in the highly competitive, fast changing world of global business demands management stay nimble. "Nothing stays the same," Ms. Metivier says. "What you have to do is stay on top of trends and changes at both the micro and macro levels. Then have in place strategies to meet these challenges. "While the risks may be great so too can be the rewards." www.bdc.ca Exporting - Discover the risks and benefits targeted. They have also recruited key local managers then ensured that they were aligned with corporate goals and culture," she continues. The process usually demands the business owner do first person research as well as recruiting experienced professionals, Ms Metivier says. "Nothing can substitute for first hand knowledge and feel." The form the foreign operations take will also be one of the keys to success, suggests Neil Sheehy, a partner at Goodmans LLP in Toronto. "It could be an agency, a division or a separate corporation or corporations," he says. "Unless there is some pressing reason against it we most usually recommend a separate corporation. We also think it prudent to have the foreign operation look like a local company rather than a Canadian corporation," he says. At the same time, many Canadian corporations have started by dealing through local distributorships and then moved on to local partnerships and even wholly owned local subsidiaries as volumes of business grew and economics demanded. Each of those forms of doing business will come complete with its own set of risks and rewards, adds Ms. Metivier. The goal is to analyze each and determine what best suits corporate needs. "Every decision has to be made in the light of the best foreseeable risks versus rewards," she says. 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