Before you’re fully ready to enter a new market you need to develop a market entry strategy. One of the biggest considerations in this strategy is how you actually intend to enter the market, which can be somewhat confusing. To help you devise a clear plan, here is an overview of the ways a Canadian business can enter new markets. The traditional means of market entry fall into these four main categories:
There are a number of different programs and resources to consider as you explore the opportunity to expand into international markets. While these resources can provide you with access to different funding and help you be better prepared for your entry into new markets, they are not all necessarily a great fit for all businesses.
There is a lot more that goes into exporting products than the exportation itself. Before any business begins exporting products to new markets it is imperative they develop an export marketing plan, which acts as a road map for acquiring and retaining customers in each market. Here are the seven questions you’ll need to answer before you write your marketing plan, plus the eight sections that every great marketing plan includes. Before creating your marketing plan, you should be able to an
The legal side of international trade may seem overwhelming, but it does not have to be. Chances are local law and regulations will be different than international ones so it’s important that you understand both if you want to confidently enter new markets and limit your risk of legal action. Here are four key factors of international law you should understand before you expand.
The decision to let go of employees is never easy and can result in significant financial costs if improperly executed. Unfortunately, this is a reality that many business owners have had to deal with in 2020 in order to keep the doors open. As an employer you may find yourself needing to layoff a large number of staff in a short period of time.
A plan is essential to ensure a business’s successful entrance into a new market or jurisdiction. Part of determining your exportation readiness is laying out the necessary steps it takes to get you there. There are many things to consider so use this checklist to help you develop your exportation strategy