Question

How can you study Creditability of potential Partner at the beginning of your international trade ?

Answer 1

To know the creditability of potential Partner at the beginning of the international trade a business may use the below mentioned sources":

-- Financial institutions: Banks, trading companies and individual traders (brokers) are all vital information sources about a potential international business partner in a target market.

-- Chambers of commerce: In majority nations, businesses must be members of their local chamber. Such chambers assist the traders to investigate a potential supplier or client.

-- Public documents: When the company is public, its financial statements are public knowledge and business accesses them through several sources, such as Internet and libraries.

-- Accountants: Several large accounting firms have offices global wide. They also provide information on potential clients; they may assist the entrepreneurs to learn about issues in the companies in other countries.

-- Governments: In majority nations, companies can approach the government department responsible for trade for resources and information. These departments will offer advice on exporting and other market entry approaches and will have databases of investment, trade, and technology counsellors abroad.

-- Business advisors: Companies may consider using specialists and consultants, such as lawyers for searching the potential partners

-- International trade commissioners and embassies in global markets: Several countries have trade counsellors attached to their diplomatic posts overseas, inclusive of consulates, embassies, and high commissions. These can assist in providing information on creditability of potential partner