Trade events contribute to the development and growth for entrepreneurs and small businesses to navigate and extend their reach into international markets.
A Trade Mission is a way that businesses and organizations use to help reduce their time, cost and risk when exploring new trade opportunities overseas. It ensures an organization gets the opportunity to meet key decision-makers and stakeholders whilst receiving assistance every step of the way.
It’s also an opportunity to showcase the company, gain valuable contacts through networking, and strengthen ties with governments, investors and policy makers.
Organizations go on trade missions for many reasons. They include:
• Fact finding/observing the market first-hand
• Establishing contacts/developing a network
• Evaluating market/export opportunities
• Finding a business partner
• Promoting their brand
• Promoting their organization via the mission brochure and potential press interest
• Building and strengthening existing relationships/network
• Meeting key decision-makers/stakeholders/government officials
• Networking with their fellow delegates, sharing expertise and/or providing leads to one another
• More impact in the market than the lone business traveller
Each client’s objectives will differ, depending on whether they’re a small business, start up or multinational corporation, whether they have short term or long-term goals or whether they already have a market presence outside their home country. Therefore, preparation and thorough research is key.
Each country presents different risks, challenges and obstacles, depending on whether it is a new market or an established one. This is why attending a trade mission in each target country is important. It will provide more detail surrounding the country than research alone can provide.
The trade mission itself is unique in both its timing and who is taking part. High-profile companies and high-ranking figures will bring more gravitas to the mission; in other words, no two trade missions are the same.
HMC Global have experience organizing trade mission delegations and developing an itinerary that suits your business needs. To make the most out of your next trade mission, get in touch with one of our team.