Why you should be working with international business partners

Maximising business opportunities through global partnerships

  • If you’re an international brand owner or distributor looking to innovate, diversify, mitigate risk or increase the scope of your business, then working with overseas partners may be exactly what you need in order to grow.

  • With that in mind, we have collated some of the main reasons why you should be working with international business partners, so let’s dive straight in…

The world is your oyster

By working with international partners, you’re opening up a whole world of opportunities for your business.

You can increase your scope by sourcing new product options from overseas or expand your customer base by creating more choices outside your home market.

There may be limits when dealing with domestic partners, for example low proximity to particular ingredients or inadequate manufacturing capabilities.

Whilst working with overseas partners provides a wider net of suppliers to choose from, and potentially higher quality goods than domestic products.

Meet uncertainty head-on

We can all agree that 2020 has brought a sense of uncertainty for the future, however, working with international partners can help you to de-risk your business.

Sourcing an international partner means you won’t need to invest your own resources, you can find sustainable solutions, mitigate risk, and find more cost-efficient paths to market.

Working with an overseas partner can also help to reduce the impact of other adversities that you can’t plan for. Here are a few examples:

  • Political unrest can interrupt or halt supply lines

  • Natural disasters can disrupt production or logistics

  • Local restrictions can extend lead times and impact overall costs

If you have any doubts or concerns over your current supply chain, then we might be able to help. Find out more about Bolst Global here.

Innovate and diversify

Another reason to work with partners overseas is the ability to innovate your product line and stay ahead of the crowd.

You may be able to benefit from world-class technology, cutting-edge research, or specialist knowledge available in innovative markets, adding a new dimension to your brand.

Working with overseas partners can not only benefit your product lines but can influence your business in a number of other ways, such as bringing a new way of thinking or promoting diversification to expand your company’s reach.

Partners can come in many shapes and sizes, from suppliers that offer something unique, to intermediaries who can provide local support and guidance to help you reach your business goals.

FAQ: Why should I work with overseas business partners

If you’re not sure where to start when it comes to finding the right supplier or partner for your needs, then check out a couple of additional resources our team has developed.

And if you still have questions, why not get in touch with us to discuss your individual needs and expectations for working with an international partner.

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