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Managing foreign suppliers is key to your business. Foreign suppliers often have the pick of the litter when choosing customers. Importers sometimes need to establish a program to identify the perfect supplier and win its loyalty.
Breaking into a foreign market takes a tremendous amount of work. To speed up the process and improve your chances of success, it may be a good idea to team up with a foreign partner who is already well established in the market you are targeting.
Agricultural producers shifting into processing must follow a painstaking process that includes analyzing the industry, the target market and their personal abilities. Production and processing are 2 complementary but very different industries, so thorough preparation is the key to success.
Trade shows are great opportunities to break into and develop markets because you can meet buyers and industry specialists from around the world. They're also a good way to learn more about target market trends and size up the competition.
An international agreement often entails contracts between a business and its foreign business partners. Make sure your contract clearly spells out the type of business relationship, objectives, partner roles and responsibilities and jurisdiction in order to reduce the risk of misunderstanding.
Before you go global, identify the foreign markets that are most likely to respond to your offer by researching potential export markets.
When you decide to take your business global, you need to tailor your website to your new markets. Get advice on making this means of communication just as effective internationally as it is in Canada.
As a new exporter, you should have a separate international pricing strategy so you don't have to “pay” to sell your products abroad. Take time to determine what prices you need to set in order to meet your business objectives.
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