Do you know which criteria you should set for your local partner?
Ask any entrepreneur what is needed to have a successful business abroad and there is a big chance that the answer will be about the importance of having a good local partner. One must find someone who really knows the market as well as the culture. Someone who is able to represent your company and product the same way that you do in your home country. Great advice, but how do you choose the right candidate? Dr. Jan Siemons, Chairman of the International Trade & Investment Center (ITIC), explains more about which criteria you should set.
Jan Siemons explains that: ‘’If there is one main factor of successful expansion abroad, it is to find a reliable local business partner.’’ He has been a driving force behind trade and investment relations between Dutch and various companies located in countries such as China, Japan, Turkey, Russia, Surinam and many more. As Chairmen of the International Trade & Investment Center (ITIC), he is consulting entrepreneurs who are looking for local business partners on a daily basis.
Think global, act local
‘’Your local partner plays a key role in how you experience the country where you do business and how your company is perceived within that country,’’ according to Jan Siemons. ‘Finding a local partner is essential in the achievement of expansion abroad. Just think about dealing with foreign bureaucracy alone, which often is a huge obstacle. In the end it all comes down to having a reliable local partner that knows the market and can anticipate according to its needs. You will never understand the foreign market as well as a local person would.’’
A good choice is not a guarantee for success
Finding a reliable local partner is only a first step to success when it comes to successful international expansion. ‘’Only when applied with due diligence when it comes to identifying and qualifying local partners abroad, you can effectively implement your business model. This way you can turn your plans into solid methods and activities’’, Jan Siemons explains. ‘’International activities – however satisfying when they succeed – inevitably present you with stumbling blocks along the road. Most certainly in the starting phase. In fact, entrepreneurship abroad above all means managing risks’’.
The International Trade & Investment Center: knowledge based on experience
The International Trade & Investment Center is an important platform for businesses with international ambitions. ITIC establishes business relations and contacts on foreign markets, with the main objective to reinforce the international position of companies and to achieve business transactions. ITIC performs an important role for its relations as it connects businesses to entrepreneurs abroad.
ITIC organizes network and consulting events on a regular basis. Business professionals can meet and discuss opportunities and risks of investing in and trading with foreign countries. If you are interested to see a list of activities, please go to: https://itic-global.com/upcoming-events/.
If you would like to consult ITIC on how to expand abroad, please contact the office in Amsterdam by phone at +31 (0)20-4919091 or by mail at amsterdam@itic-global.com.
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