What’s In This Email

• Steadying the Ship: How Canadian Entrepreneurs Can Adapt to New Tariffs and Re-gain Confidence

• Is Motivation Something You Should Rely On?

• Notable Spotlight: Kraftwerk in Toronto

• Notable Plug 🔌

✍️ TAKE NOTE

Steadying the Ship: How Canadian Entrepreneurs Can Adapt to New Tariffs and Re-gain Confidence

If you're a Canadian business owner, you’ve probably been feeling overwhelmed by the new tariffs going into place, and you're not alone. Increased costs, disrupted supply chains, and shifting trade policies are making it harder for businesses to plan ahead. Whether you rely on imported materials, export your products, or operate within Canada’s supply network, these tariffs could directly impact your pricing, margins, and overall business strategy.

There are ways to take control of the situation and with the right approach, businesses can aim to adapt, minimize risk, and even uncover new opportunities despite the challenges. This guide from our team at Notable Life aims to help you navigate the new tariff landscape.

Strategies to Help Manage Current Tariffs & Trade Challenges:

1. Diversify Your Supply Chain

• Where possible, avoid over-reliance on any single country for imports. If you've been sourcing materials or products from a tariff-heavy region, it’s time to explore alternatives.

• Look into local sourcing or suppliers from low-tariff countries that fall under Canada’s trade agreements.

• Strengthen relationships with multiple suppliers to reduce risk and gain better pricing leverage when negotiating new deals.

2. Reassess Pricing & Cost Structures

• It’s likely time to conduct a pricing audit to understand exactly where tariff-related costs are going to affect your bottom line.

• Instead of passing 100% of the increase onto customers, explore value-added services that make a price adjustment easier for them to accept.

• Improve operational efficiency to cut unnecessary costs and offset higher import expenses.

3. Take Advantage of Other Trade Agreements & Government Incentives

• Canada has several trade agreements, including CUSMA (formerly NAFTA), CETA (with the EU), and CPTPP (Asia-Pacific), which provide tariff-free or reduced-cost options for certain industries.

• Explore government relief programs, tax breaks, and funding initiatives aimed at businesses impacted by trade barriers.

• Tip: Reach out to a trade consultant or customs broker to ensure you're taking advantage of every possible exemption or opportunity.

4. Explore New Markets

• If tariffs on exports or imports are affecting your business, consider expanding into alternative markets with more favorable trade conditions.

• E-commerce and digital exports can be a lower-risk way to reach international customers without dealing with complex import/export tariffs.

• Partner with export development agencies or industry-specific trade groups that can assist with market expansion strategies.

5. Strengthen Domestic Sales & Local Partnerships

• Shift focus to the Canadian market where possible, reducing dependency on global trade uncertainties.

• Form partnerships with domestic suppliers and distributors to ensure a more stable supply chain.

• Capitalize on consumer demand for “Made in Canada” products—many customers are willing to pay a premium for locally-produced goods.

6. Stay Informed & Advocate for Your Industry

• Trade policies evolve quickly. Keeping up with government announcements and industry updates is essential to staying ahead.

• Get involved in business advocacy groups and industry associations to have a voice in discussions around trade policies and potential tariff relief measures.

• Work with legal and trade professionals to ensure compliance with new regulations while identifying potential workarounds.

Why It Matters:

The new tariffs can feel like a major obstacle, but they don’t have to derail your business. The key is to be proactive and aim to get ahead. Businesses that adapt early—by rethinking supply chains, pricing strategies, and market expansion plans—will have a competitive edge over those that wait for clarity.

While tariffs create short-term challenges, they also push businesses toward greater efficiency, innovation, and market diversification. Canadian entrepreneurs who take these steps today will be better positioned for long-term stability and success. Instead of seeing tariffs as a roadblock, we can use them as a catalyst for building a stronger, more resilient business.

simonsinek

View more on Instagram

Kraftwerk Multimedia Tour

The multi-media project Kraftwerk was started in 1970 by Ralf Hütter and Florian Schneider. They set up their electronic Kling Klang Studio in Düsseldorf, Germany, where they conceived and produced all Kraftwerk albums.

Learn More.

🔌  NOTABLE PLUG

🎙️ Get Into It: My First Million. Hosted by Sam Parr and Shaan Puri, this podcast explores business ideas, trends, and entrepreneurial strategies. The hosts break down how people made their first million and offer tips on spotting new opportunities.
Listen on Apple Podcasts and Spotify.

📄 Notable Hires: Senior Brand Manager @ Lululemon (Contract, Vancouver)

🎓 Hope This Helps: Craiyon AI, is an art generator that creates unique images from text prompts. It uses machine learning to generate new images that don't exist in the training data.

🌍 Notable Destinations: Toronto to Dublin ($577 891) Dates: May 25 - June 3, 2025. Click on this link to see the flight.

🧠 Today We Learned: Rats prefer the sound of silence to Beethoven and Miles Davis – except when they are under the influence.

We want to get to know you more! Take our community survey at your convenience. We appreciate you taking the time to help make Notable amazing!

Beyond Notable Daily
_________________

Editorial
Contact our editor

Advertising
Contact our team

Marketing Services
Contact our agency

ABOUT NOTABLE
Notable Life is Canada for young professionals, entrepreneurs, and culture generators operated by The Notable Group. Notable Daily inspires ideas and sharpens the minds of over 40,000 top-tier professionals in competitive industries.

Disclosure: While we utilize artificial intelligence (AI) to assist with certain aspects of content development, all information provided in our content is thoroughly vetted and edited by our team of humans. We strive to ensure the accuracy and reliability of all information. However, we recommend that readers conduct research or seek professional advice to make informed decisions. This email may contain sponsored content.