Expanding a business internationally is a critical component to an overall growth strategy. In fact, many countries throughout the world take a positive view on foreign expansion into global markets. Not to mention, with interconnectivity throughout the world, geography is no longer in the way of this kind of expansion.
However, there are a few barriers that still exist, including:
- Language barriers;
- Marketing barriers;
- Legal hurdles;
- Access to raw materials and human resources; and
- Government barriers.
These are just a few of the hurdles an expanding business will have to overcome to reach success in international markets. The economic interdependence created by a truly international financial system and regional associations like the European Union, NAFTA and ASEAN have also contributed to thinking globally. Still, wading through an international marketplace is riddled with unknowns for any business.
For Canadian companies embracing international growth, there is a service in place to help with the transition; The Canadian Trade Commissioner Service. This Canadian organization provides:
- Hands on knowledge of international markets gained from helping thousands of companies every year enter the international marketplace;
- A large network of international business contacts and decision makers in all industries; and
- Local presence in 161 cities throughout the world.
As business conditions vary throughout the regions, the Canadian Trade Commissioner’s office are able to tailor market intelligence and insights strictly directed at the area you need. For instance, Canadian companies can be helped in exporting, tackling market access, strategic alliances, and seeking technology and R & D partnerships, just to name a few benefits of the Trade Commission.
Kryton has been expanding throughout the world since inception, introducing our innovative Krystol technology with great success. The importance of organizations providing the kind of services that the Canadian Trade Commission offers is invaluable for Canadian companies to grow throughout the world, as well as international markets to have access to them. The trade commission has been a valuable tool for Kryton in expanding outward and will continue to be as we move into the future.
Market intelligence and key industry contacts are two of the valuable assets that enabled Kryton Buildmat (the Indian arm of Kryton International Inc.) to celebrating 20 years of success a few short weeks ago, as well as facilitated an event for Kryton distributor, Source One Environmental (S1E) at the impressive MacDonald Room at the Canada House in London, UK. Organizations offering the services the Canadian Trade Commission does ensures success of Canadian companies in markets around the world for the long term.