Finding opportunity in uncertainty: New Brunswick’s tech sector showing its strength

The announcement of potential 25% US tariffs has sent tremors through Canada’s business community. 

As CEO of the New Brunswick Innovation Foundation (NBIF), I’ve had a front-row seat to how our technology companies are responding to this challenge. 

The very prospect of tariffs is creating chaos and stirring uncertainty. The very prospect of a radically altered business relationship between Canada and the U.S. has everyone on edge.

Last week, I sat down on a virtual call with CEOs from tech firms across New Brunswick. While concerns about the tariffs’ impact were real, what struck me most was their immediate focus on solutions. 

These leaders from our portfolio firms weren’t just reacting to uncertainty – they were actively crafting strategies to navigate it. From exploring new markets to reimagining pricing models and strengthening supply chains, the conversation quickly shifted from challenge to opportunity.

Forward-thinking approach

Our role at NBIF is to foster the growth of world-class tech firms, headquartered in this province, creating jobs and prosperity. In working closely with these companies during this uncertain time, I’ve gained an even deeper appreciation for their resourcefulness and determination. 

What I’ve witnessed isn’t just resilience – it’s the kind of innovative thinking that has always defined New Brunswick’s entrepreneurial spirit.

This forward-thinking approach isn’t surprising. New Brunswick’s tech sector has always punched above its weight, turning our size into an advantage. 

Our interconnected business community allows us to move quickly, adapt rapidly, and support each other in ways that larger regions simply can’t match. It’s a strength that becomes particularly valuable during times of economic uncertainty.

Proactive approach 

The reality is that while hardware-based businesses may face direct impacts from these tariffs, many of our tech companies focus on software and services, which early indications suggest won’t be directly affected. However, we recognize that even the perception of risk influences business decisions and market confidence. 

That’s why NBIF is taking a proactive approach. 

We’re working closely with experts and government bodies to understand the full implications of these proposed tariffs. 

We’re providing real-time guidance to businesses, emphasizing scenario planning, market diversification, and proactive customer communication. Most importantly, we’re facilitating connections between companies, creating spaces for leaders to share strategies and support one another.

But within every challenge lies opportunity. 

This situation has highlighted the importance of strengthening domestic business connections. The “Buy New Brunswick” opportunity has never been more relevant. Also, too, the opportunity to expand to new markets.

Buy New Brunswick

Our province hosts world-class tech companies offering critical B2B solutions across industries. By looking locally, businesses can find innovative, reliable partners right here at home, reducing exposure to global trade disruptions while supporting local jobs and prosperity.

(To find out how you and your organization can Buy New Brunswick, supporting world-class technology developed by innovators right here, visit our website at www.nbif.ca.)

What makes me particularly optimistic is the determination I see in our tech community. These aren’t just companies weathering a storm – they’re businesses actively seeking ways to emerge stronger. They’re exploring new markets, strengthening supply chains, and innovating their business models.

Drive it forward

This adaptability, combined with New Brunswick’s unique advantages in infrastructure and talent, continues to make our province an attractive place to grow a technology business.

As we navigate these uncertain waters, one thing remains clear: New Brunswick’s tech sector isn’t just surviving – it’s positioning itself to thrive. 

To support this resilience, helping companies turn today’s challenges into tomorrow’s opportunities. 

Because that’s what New Brunswick innovators do best – we don’t just adapt to change, we drive it forward.

 

Jeff White, FCPA,CA, ICD.D, is President and CEO of NBIF.