Are you wondering how to expand your business in new markets?
Here are just a few things you need to consider:
- Financial capacity: Can you absorb costs until sales start coming in?
- Delivery, logistics and compliance: How will your products cross the border?
- Competition: How will you be positioned against your competitors?
Bottom line: Many entrepreneurs run into problems when it comes to expansion because they underestimate the scope and complexity of the project.
Bringing on an expert to guide you through the process can save you a lot of time, money and worries and significantly boost your chances of success.
Discover our International Expansion Plan
Phase 1: We create your personalized roadmap for expansion
Each market expansion strategy is unique, but experience has shown us that exporters needs to spend enough time at the planning table to make sure that they’ve got a solid foundation to make their exporting project a success.
International readiness assessment
Analysis of your organizational and operational strengths and weaknesses and financial analysis to evaluate your company’s capacity to support the project.
Industry and market analysis
Industry-specific market research on your target market to determine market potential, market risks, country requirements and competitors.
Market expansion strategy and plan
Includes a market entry strategy, mode of entry, channel strategy, cultural considerations, conformity review, marketing consideration, budget, timeline and 12-month action plan.
Phase 2: We start deploying your strategy
Depending on your needs, we can help you start selling online using marketplaces, identify potential partners or develop a distribution plan for your products.
Partner identification and onboarding
Identify and pre-qualify potential channel partners and develop a reliable onboarding process.
Online marketplace strategy and execution
Quickly develop a new digital sales channel (such as Amazon) for geographic market expansion.
International distribution plan
Develop an optimal distribution plan that ensures product and market compliance.
Contact our experts
Take advantage of BDC’s expertise and network of partners
Our experts have real-world experience with foreign expansion
- Our experts have gone through the process of international expansion. That’s why they can provide hands-on knowledge based on solid research and experience.
- They’ve helped many Canadian businesses successfully expand internationally.
- Working with experts will greatly speed up your market entry, cut your learning curve, help identify and offset risks, avoid mishaps and maximize your ROI.
- We also partner with a wide network of contacts—including federal and provincial trade commission services, Export Development Canada (EDC), foreign partners, and third-party independent firms—to help you establish your presence in the selected foreign market.
When it comes to getting into the U.S. market, we realized we had to be very prepared with a structured plan. I can’t stress how much BDC’s expertise helped us focus our efforts and gave us that extra confidence.