Canadian women entrepreneurs partner to take on international markets
This guest blog post is provided by Business Women in International Trade, a program of the Trade Commissioner Service which supports Canadian women entrepreneurs as they pursue opportunities in international markets.
If you are looking to expand your business abroad, we invite you to consider a strategy that has helped many Canadian women entrepreneurs increase their competitiveness and accelerate their success: international partnerships. When pursuing partnerships or other means of internationalization, the Canadian Trade Commissioner Service (TCS) and its Business Women in International Trade (BWIT) program are here to support you.
The Value of Partnerships
Partners can provide invaluable knowledge of — and access to — your target markets. Already established and serving local clients, they can help you gain instant credibility. You can leverage a partner's competitive advantages to improve your prospects for growth. Partners can also ensure you understand and are compliant with local regulations, ownership requirements and business norms.
Finding the Perfect Partner
Work on your business plans to ensure your needs and objectives are clearly defined. Consider whether the best strategy would be to partner with a local firm or a Canadian or internationally-owned firm doing business in the market. Figure out how much control you are willing to give up, and how partnering may change your brand. If you already have customers in the market, ask them for referrals to local companies that they trust. Do extensive research on your prospects to ensure they are a good fit.
How BWIT Can Help
BWIT and the TCS can help you define your needs, suggest and qualify potential partners and make partnerships work to your advantage.
We are here to help you prepare for international markets, assess your market potential, find qualified contacts and resolve market access problems. BWIT further supports Canadian women entrepreneurs by offering enhanced products and services targeted to women, including trade missions, a business directory, an export-readiness quiz and an annual newsletter.