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What is a trade mission?
Trade missions act as networking events for businesses who are looking for potential clients, investors and partners. It is an international trip which is organized by a business or government agency. By encouraging potential investors to engage with your business, trade missions help to expand business abroad and build relationships with foreign countries.
The business organizing the trade mission can assist in setting up business meetings with the right clients, provide accommodation, transportation and interpretation. Trade missions are generally in person, but with the rise of the pandemic, virtual trade missions have become increasingly popular.
Trade missions are often preceded by market analysis to ensure that they find the best opportunities, identifying the correct foreign partners, 1:1 meetings, presentations and seminars explaining business procedures in the country, business tours and follow ups with potential partners.
Benefits of trade missions
Relevant clients found - Trade missions mean that specific clients will be found based on the industry you are in. This is important as it means that your business efforts aren’t wasted on people who aren’t interested in your business, therefore by using a trade mission you can find companies and partners that have similar interests, saving time and effort, thus making the process more efficient.
New contacts and networking with locals- By meeting with new contacts and experts in the market you can learn new strategies and benefit from expert knowledge.
Country briefings - By going to a new country in the trade mission you can experience the country for yourself and see whether there is genuine potential for your company and to decide whether you think your product will fit in with the country.
Media coverage - If the trade mission is published in the media, your business can benefit from the exposure. This will help to find even more clients and aid in growing your business.
Expert assistance- The organizers of the trade mission can help you with travel and accommodation arrangements, meaning you have time to focus on what is important to your potential business expansion.
At Businesshub we can help you to organize and attend trade missions so you can be as well informed as possible to carry out your business expansion. If you have any questions, don’t hesitate to get in touch.