Royal Bank of Canada | National Partner
Royal Bank of Canada is one of Canada’s largest banks as measured by assets and market capitalization, and among the largest banks in the world. As one of North America’s leading diversified financial services companies, RBC provides personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis, serving close to 15 million clients through offices in Canada, the U.S. and 51 other countries.
What are some key considerations when preparing to enter a new market?
> Identify you opportunity: Is there a demand for your product outside of Canada? And if so, will international customers pay a price that covers the additional costs of exporting?
> Research your financing options: Do you have sufficient cash flow for the increased costs and extended payment terms associated with international trade?
> Consider your marketing requirements: How will your products be introduced to the new market? Will you need an agent or sales office, and are you able to manage this with your existing structure?
> Determine the logistics: What are the costs associated to shipping your goods into a new market? What are the risks, and how will you mitigate them?
What are some of the major risks of doing business internationally?
> Payment risk: Can the risk of non-payment be estimated and mitigated?
> Foreign Exchange risk: How will fluctuations in exchange rates affect your profit margin?
> Documentary risk: How do you ensure that your contracts and trade documents are correctly drawn in line with the relevant laws and codes of the target market?
> Country and Political risk: What are the political risks of doing business in a particular country, and how can they be protected against?