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When expanding internationally, there are three steps you should consider:
1. Define your goals. For example, is your main objective to increase revenue, brand awareness, customer base or improve your product?
2. Determine which markets you want to prioritize. During this stage, you’ll identify the markets that represent the largest opportunities, but you’ll also assess the required resources for expansion and whether it’s the right timing to launch your product.
3. Build a strategy. At this stage, you’ll need to decide which departments of your company (local or headquarters) will be responsible for the expansion, what your marketing and entry strategy will be, and which key features to include in these strategies.
For more information about key considerations for expanding into global markets, check out our co-created resources through our partnership with MaRS in the International Growth Collection.
Government agencies can be great sources of support. Almost all industrialized countries have governmental agencies at the federal and provincial level to attract new companies to their region. Some useful agencies include:
• Export Development Canada (EDC)
• Global Affairs Canada (GAC), including the Trade Commissioner Service (TCS)
• The Chamber of Commerce of the country where you’re exporting your goods and services.
There are private consultant firms that exist solely to help your company expand into a new markets. They offer a range of services—from simple introductions to prospective partners or clients to full execution of the expansion plan. They can be a useful resource when entering a new market, but they charge for their services.
Outsourcing your sales function can be another strategic and advantageous method of growing in a new market. Outsourcing sales can:
• Shorten the sales cycle
• Provide existing relationships with potential prospects
• Reduce startup payroll costs (although sales commissions will be higher)
Market intelligence can help speed the path to entry. Investing in market intelligence can help you understand factors, like market size, competition, market preferences and more. It’s important to ensure that you do your own due diligence before entering into a new market.
For more information about market accelerants, in conjunction with our partners at MaRS, we’ve co-created great resources that can help you speed up your market entry and boost your chance of success. You can access them through our International Growth Collection.
The following resources and guides will help you better understand how to do business in Germany:
Export planning
• EDC's Doing Business in the European Union guides you through the CETA agreement, sector opportunities, market entry strategies and other considerations when selling to Europe.
• Exporting to the EU – A guide for Canadian exporters from the Trade Commissioner Service (TCS) provides an overview of exporting to Europe, including product safety, packaging and IP protection.
• Step-by-Step Guide to Exporting walks you through developing and implementing your export plan. This TCS guide covers market research, logistics, customs and much more.
Market research
• EDC's Market Advisors for Germany provide market information and expert insights.
• The Trade Commissioner Service (TCS) in Germany offers market and sector facts and reports. The site has a section listing the leading opportunity sectors and trade events organized by the Canadian embassy.
• The Country Commercial Guide – Germany from the U.S. Department of Commerce offers helpful insights that apply to Canadians, too.
• EDC's Country Info – Germany page helps you get a better understanding of market environment, activity and key industries. You can also find out if EDC has any restrictions on doing business in the market.
Doing business in Germany
• The World Bank's Ease of Doing Business – Germany provides indicators on time and costs involved for business processes, including importing goods, starting a business, paying taxes, crossing borders and more.
Risk and competitiveness
• EDC's Country Risk Quarterly is a go-to interactive guide that offers timely economic and political information on 50 countries worldwide. It aims to help you gauge the commercial and political risks, so you can make informed decisions.
• Global Competitiveness Index – Germany from the World Economic Forum provides insights on the German market.
For more information and insights, see EDC's blogs focused on Germany.
There are several key steps you should take:
1. Do your due diligence of the market and develop an export plan. Research factors, like competitors, suppliers, industry trends, consumer habits, etc., to get a better understanding of the market and business culture.
2. Determine your value proposition. This will help your customers understand the value of your products and/or services. It would also be resourceful to get in touch with partners, like Export Development Canada (EDC), the Trade Commissioner Service (TCS), Austrade, the Canadian Australian Chamber of Commerce, for market insights and support.
3. Build your networks. During your exporting journey, you’ll need expert advice from law firms, tax specialists, shipping and customs brokers and more.
Additional resources
• Expanding to Australia: What you need to know | EDC
• EDC’s country and market info page about Australia
• Cultural tips for doing business in Australia | EDC
We have expertise in every market in the world no matter where you plan on exporting to, we can help you get there.
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