Since that pretty much defines the readers of this blog, let’s find out what we can learn from this story.
Q: Why is Amex’s executive in charge of
small business globally based in Canada?
A: Vice-president of international small
business services Rob McClean says: Canada was selected as a testing ground for
our small business growth strategy, really leveraging our investments in Canada
to chart our blueprint for growth across the globe. There’s a strong
entrepreneurial appetite that exists in Canada that makes it a real springboard
to lead.
Q: What opportunities does Amex see in this
market?
A: There’s plenty of evidence that suggests
to us there is a real growth opportunity here and there’s a significant need
for a company like American Express to tailor products to meet those growing
needs. And when you look at the entrepreneurial spirit that exists in Canada,
they’re focused on innovation and growth and are willing to take risks, and
also very optimistic.
Q: What sets Canadian entrepreneurs apart?
A: In Canada, entrepreneurs are looking for
advice, that additional component of servicing, and also the most attractive
rewards they can find. For example they’ll leverage gift cards as incentives
for employees, one way their spending translates to rewards which transforms
into incentives they can reinvest in their business.
Q: What has Amex learned about Canadian entrepreneurs?
A: Small business owners are looking for
personalized service, personalized account management, professionals that
understand their unique needs, improved working capital and cash flow for their
business, and we’ve developed products that allow them to do that.
Q: In the U.S., Amex has a very strong online business network, Amrican Express OPEN Forum. The Post didn't ask about plans to
expand that in Canada, but they did ask about Amex Canada’s “networking initiative.”
A: We are constantly evolving and looking
at various partnerships and rewards. At this point, I can’t give you specifics
on what we have coming down the hopper. But we are starting to leverage social
media as a tool. We’ve got a Facebook site we’re focused on growing, we link
small business owners from time to time through special events or speaking
engagements. And they’ll ask us for information too, for instance, how to
leverage social media, what are the best practices for expense management, maximizing
rewards and reinvesting rewards in the business. We’re looking to create those
forums and platforms to disseminate information.
Q: Any industry-specific niche markets Amex
is focusing on?
A: There’s a significant number of dentists
in Canada who have specific needs for their practices, such as purchasing
products and equipment from labs, and we have forged relationships with a
number of dental suppliers and associations.
Want more? You can read the full story here.
