Getting the funding you need to go global

20/11/2017

pink piggy banks wearing glasses

pink piggy banks wearing glasses

Making the leap from domestic to international markets is an exciting one. Aided by advances in technology, communication, and trade agreements, opportunities have opened up the world over to businesses of all sizes.

As positive as this is, businesses still need to overcome significant hurdles and risks to successfully enter an international market. Not least of these is securing the necessary funding to get a foothold in the new region.

Every element of a company’s international trade activities requires planning with continual adjustments; the financial aspect of international ventures is no exception.

Learn how to take on international payments, risk mitigation, cash flow maintenance, and more of the key success factors in trade finance for your business today.

In this month’s #TradeElite Twitter chat, we sought to explore the practical aspects of obtaining the funding needed to enter global markets for the first time. We wanted to know where to get started, how to avoid the biggest trade finance pitfalls and how to know what type of funding is right for your venture. We asked, the experts answered.

Follow the conversation below.

Panelists:

Diane Weklar (@dianeweklar) a business growth and profits expert for small and mid-sized businesses and serial entrepreneur with 7 successful startups. She is also and author of the award-winning best seller, Mastering the Money Maze: 10 Secrets to Winning Business Financing as well as a well-known weekly blog – based out of Southern California

Chris Casemore (@ChrisCasemore) a Canadian Government  funding expert, promoting business growth and prosperity. Chris works with Mentorworks, an organization specializing in helping Canadian businesses build proactive funding plans to facilitate growth – based out of Cambridge, Ontario

Shannon Pestun (@agirlsbizbanker) a business banking expert at ATB financial, with a special interest in helping women entrepreneurs get and make more money – based out of Calgary, Alberta

Bernadette Fernandes (@on_the_varanda) an export development, business development and investment expert, with a strong expertise in LATAM markets, founder of the Varanda Network – based out of New Brunswick, Canada

Where does the funding journey begin for businesses looking to enter new international markets? What are some of the first steps they should take?

 

What types of funding should a business owner seek for international ventures? What are some things to consider?

How important is it to diversify your finance sources? What are the options? Any to avoid?

What are some of the pitfalls or common errors businesses make in securing financing for their international ventures? What are some solutions?

What are some of the key success factors in gaining adequate funding? What can make or break a pitch or proposal?

What are some options available to those who don’t have access to “traditional” collateral?

How important is it to secure the lowest possible interest rate? Are there situations where a higher interest loan is still feasible?

What trade finance skills should you bring in-house rather than outsource? How do you assess the right balance of in-house finance resources and outside resources?

Are there any tools or resources businesses of all sizes can take advantage of to help plan and secure their financing?

Read the rest of the chat and follow future discussions by following the #TradeElite hashtag.

And stay tuned for the next #TradeElite chat, coming up Thursday, December 14 at 2:30-3:30PM ET, and if you haven’t yet, join us on Twitter at @FITTNews.

About the author

Pamela Hyatt

Author: Pamela Hyatt

I am a Content Marketing Specialist for the Forum for International Trade Training (FITT). You can find some of my work on TradeReady.ca. My background is in copywriting, journalism and social media. My passion lies in connecting people to the stories that are most important to them.

disqus comments