How to help your business build partnerships abroad

tie-690084_640One of the best ways for small businesses to expand is by building business partnerships abroad. Accessing foreign labour markets gives you a chance to reach a new customer base and take your business further. Your overseas venture will have much more chance of being a success if you build the right business partnerships, so here are the top tips for building solid business relationships and taking your business abroad:

Find the perfect partner

Building business partnerships abroad is tricky for a number of reasons so it’s essential that you get the basics right. Find a partner who knows their market inside and out, so they can advise you on how to best market your product. Your potential partner also needs to be passionate about your brand and fully understand what your product is and with lots of industry experience. You’ll rely on them heavily for inside information about trading laws, customs and trends so be sure to find the right partner.

Be very clear of what they do and their customs

Before going into business with a partner abroad a good knowledge of what their business does and how it works is essential. It’s important to remember that some countries are more similar to the UK than others and many foreign business cultures can be very different. If you’re wanting to take your business to a completely different labour market it’s advised that you do a lot of research into the business culture and etiquette before going into business together.

Use the best resources

An experienced courier with extensive knowledge of making international deliveries is an important resource to have. The services offered by TNT mean that exporting abroad is simpler than ever. Once you leave it to the experts, you’ll have more time to invest in developing other aspects of your business.

Invest your time

Going global can be very daunting. The best way to ensure your venture is a success is by making sure you’re putting a lot of time into it and using the best resources. Sometimes it’s best to hire new members of staff and create an international team or give someone the task of dealing with all things international. That way you can be sure that someone from your side will be available at the right times and you’ll be able to keep hold of your domestic operations too without spreading yourself too thinly.

By following these key steps, you should be well on your way to establishing the foundations of business partnerships abroad and expanding your business to the global market.

Save More Money in 2018

Coins 1523383 1920

Subscribe and join the worldwide 52-week money challenge! Get the tools you need right to your inbox.

We won't send you spam. Unsubscribe at any time. Powered by ConvertKit

Share this post:

Recent Posts

Leave a Comment

*

What’s the Best Free Recipe App?

The Apple Store and Google Play together offer more digital cookbooks than you probably have room for on your mobile device. So which... more →
New tax law might slow down housing market.

What Will the New Tax Law Do to the Housing Market?

The new tax law will have a profound impact on the housing market, although in ways that go beyond the deductibility of mortgage interest... more →

4 in 5 Households Will Get a Tax Cut in 2018

Four out of five U.S. households will get a tax cut as a result of the legislation that President Donald Trump signed into law today. more →
Will bitcoin reach $100,000?

When Will Bitcoin Reach $100,000?

Bitcoin has accelerated its pace of appreciation in recent months, and if the current levels between $15,000 and $19,000 make you itch... more →
The Dow Jones topped 24,000 -- now what?

The Dow Jones Crossed the 24,000 Threshold. Now What?

Stocks appear to be increasing in volatility, yet the markets closed on Monday, December 4 with the Dow Jones Industrial Average is... more →
Peer mortgage

Should You Get a Peer-to-Peer Mortgage?

If you can’t get approved for a home loan from a bank, you might want to look into applying for a peer-to-peer mortgage. more →
Investment gifting is awesome.

4 Things To Know Before You Donate an Investment

While donations of any kind are appreciated, gifting investments benefits both the giver and the receiver. Here are four key things... more →
Are you wondering: What's the Relationship Between the Stock Market and Federal Debt?

What’s the Relationship Between the Stock Market and Federal Debt?

Wouldn’t it be wonderful if gains in the stock market could actually reduce U.S. government indebtedness? If that were true,... more →
where to live, where to stay, living options

How to Choose Where to Live

It’s a fantastic problem to have, wondering where to live. But sometimes a world of choices is intimidating. I mean think about it…... more →