Several companies want to go to the international markets. For most entrepreneurs, this is one of the main ways to grow your business. The world is full of potential virtues for French firms.
This is the opportunity to find new sources of growth, strengthen its attractiveness with the recruitment and retention of talent while diversifying its sources of income.
The international can also be used to revive an activity that operates less in France or to find innovations in products and services to remain competitive and face competition. Here are the few keys to growing your business internationally.
According to a study by BCG (Boston Consulting Group, international consulting firm in strategy, editor's note) and IMD Business School (International Institute for Management Development, editorial school located in Lausanne, Switzerland) from 362 company directors 72% of them are attracted by the international adventure.
But only 10% think they have the skills and codes to set up in foreign countries.
According to a survey by HSBC France (a subsidiary of the British international banking group, ed) published in February 2018, the ETM (Medium-sized Enterprises, with between 200 and 2000 employees, ed) would be contributors to the economy through their development in France.
Internationally. The 1,400 MTEs surveyed in 14 countries employ more than 208 million people, contribute $9 billion to global GDP, and generate about $3400 billion in exports. Discover through these tips, how you can start to grow your business internationally.
Choose your country and your market
Before selecting one or more countries to develop the business of its international business, it is essential to review the field in the field. It is important to analyze the potential, the distribution methods or whether there is strong competition.
We must also learn about the various constraints of the desired location, whether political and financial or the regulations in force, to avoid disappointments threatening the company. Studies and thematic files by country are carried out by Agence Business France, which encourages the internationalization of the French economy.
These numerous documents facilitate the search for tricolor entrepreneurs. In addition to this information gathering, The contractor must have relays and a network in the field, which will make it easier to approach governments and chambers of commerce.
Social networks like LinkedIn or other groups and forums can be helpful in finding these rare gems. Depending on the structure and investments that the company can put on the table, the choice of a country may be different. Large, powerful and growing companies will likely be able to tackle emerging countries, while VSEs and SMEs will instead invest in border sectors, particularly in Europe.
Create a trusted team
To develop internationally, it is important to create links and establish long-term professional relationships with talented people and potential collaborators from the country where the leader decides to embark. Without this, the startup and development of the service or product of the company abroad is likely to fail.
To immerse oneself for a few days in the country concerned is then the opportunity to establish more agile relations with future partners, collaborators or investors. Attending international trade shows can be helpful in accelerating the international expansion of your business, to discover new talent and convince them to become involved in it. It is important to establish a list of specific criteria that these future members of the company must meet.
The selected people must be strong enough and particularly knowledgeable in their field as well as know on the fingertips the targeted market. Once, the trained team, it is important to manage it effectively.
The leader will need to demonstrate trust, understanding and support while explaining exactly what he wants to put in place. He cannot be in two places at once, so he needs to delegate to trustworthy people, who will ensure the development of his company internationally. It is also important for the company manager to meet with them several times a year. The success or failure of this export project depends on choice and trust in foreign partners.
Seek help from specialized structures
To finance and support the development of his business internationally, the manager may request various financial assistance such as tax credits or export loans. Various French organizations can guide the entrepreneur to facilitate his efforts abroad and make it benefit from particular devices and programs.
The first three structures have also created the "Bpifrance Assurance Export" label to contribute to the development of export through multiple offers.
Then there is an export credit insurance that can secure the project against risks, an International Growth loan to guarantee deposits and pre-financing or insurance prospecting that supports the financial risks.
As for the Network of International Experts, it proposes to assemble and follow up grant files and accompanies the entrepreneur in his market study, via on-site meetings with prospects, specifiers or experts in the field. Activity concerned, It also offers help with implantation.
Md Rasel is a professional blogger.