How to Start International Business and Services

Every day, we talk about international business. Today international business and traveling is household discussion. As you mention this every day, do you know the meaning? Some people knows the meaning while more than 60% do not know the meaning. For us to further we must not fail to define international trade in brief.

International trade means a trade that takes place between two or more people in two or more different countries. Example of such trade is when Mr. B in country A imports a Commodity from Mr. X in Country C and export same goods to Mr. M in country Y. This type of trade is in deeper definition called interport trade under international trade.

It is easy to start an international company, but very difficult to control depending on the type of business you have designed to engage in and which countries you intend to shuttle the business in. You will need to establish a home office, and in most cases you will need to establish an international presence by either establishing an overseas corporate subsidiary or opening an offshore representative office. The basic framework for establishing an international company is more or less the same for any business. 

International marketing research plays an important role, in the identification and development of company strategies for internationalization. It enables a businessman to identify, evaluate and compare potential foreign market opportunities including sellers and buyers and develop a marketing proposal. Research also provides a company with foreign market intelligence to help it anticipate events, take appropriate action, and prepare for global changes. 

Before the Internet, businesses had to invest considerable sums of money in international marketing research, which meant that only the largest companies could afford to do so. Today,   any person with a private/laptop can conduct a substantial amount of international marketing research all within a matter of hours. Of course, the multinationals still have far much better research resources at their disposal, but small import-export businesses can now get almost all the research they need for successful world trade at a price they can easily afford.

 Information on the web are available from many different sources ranging from personal home pages to government, websites and professional statistical and information services. As a rule of thumb, you are more likely to find current, accurate, objective and in depth information from Websites run by professional information services and government bodies. Not only do they congregate and categorize the information into easy to use formats, but they also have a profit motive that drives them to make sure they provide the best information available. Before the advent of the Internet, you would have expected to pay a few hundred to several thousand dollars for marketing research information in printed and CD forms. Today, the intenet has enabled information and technology companies to provide the world with the same information online for prices starting as low as N1500 per month from online databases. 

To start online international marketing research, begin with free resources that give you a cursory analysis of general market variables such as  economic and social indicators, political analysis, and other summary country data. Start with the CIA World Fact Books, VRBMC (www.vestersms.com) which gives you technological, political, business, trade and economic fact sheets of all countries in the universe. Other reasonable and viable resources for preliminary international marketing research include websites belonging to trade associations and government agencies worldwide. Find them with the help of Vester Royal Business Magnet Company.  www.vestersms.com.

Once you have identified countries that warrant detailed investigation, you now need to use resources that give you a more detailed assessment of the industry market potential. At this stage, these resources should give you an indication of the demand and supply patterns, enable evaluation of regulations and standards, and identify the best market potentials for specific products. Free and fee-based services will come in handy at this stage. Websites belonging to foreign trade associations, embassies and trade missions will get you started on foreign regulations and requirements, most often for free. The harder task of evaluating demand and supply in your industry can be accomplished using several resources. Vester Royal Business Magnet Company  (www.vestersms.com) collects business, trade and economic information from about 30 government agencies and is major source for you, industry and market intelligence and reports on other information are available.

Looking at customs or port records of imports and exports of a country is a great way to determine not only the demand and supply system, but also know who the major buyers and suppliers in your industry are. One service that provides such information is   available online at   A third resource for industry analysis would be the archives of business publications, industry journals and newspapers of a particular country. Going through past articles on your industry will give you a picture on the trends, business practices and general environment in that industry. These archives are available either directly from each publication website or from archive search services.

The final stage in online international marketing research is the locating and detailed evaluation of potential foreign business partners to determine their capabilities and competitive standing. You want to make sure that your foreign partner, client, supplier or buyer is able to work with you, pay you and help you meet your organizational goals. Getting a list of potential partners, clients, buyers or suppliers can be done using traditional offline methods as well as using online resources such as the International marketing research plays an important role in the identification and development of a company’s strategies for internationalization. It enables a business to identify, evaluate and compare potential foreign market opportunities and develop a marketing strategy. Research also provides a company with foreign market intelligence to help it anticipate events, take appropriate action, and prepare for global changes/challenges. Before the Internet, businesses had to invest considerable sums of money in international marketing research, which meant that only the largest companies could afford to do so. Today, just about any person with a private computer/laptop can conduct a substantial amount of international marketing research all within a matter of hours. Of course, the multi-nationals still have far much better research resources at their disposal, but small import-export businesses can now get almost all the research they need for successful world trade at a price they can easily afford.

Information on the Web are available from many different sources ranging from personal home pages to corporate Web sites and professional statistical and information services. As a rule of thumb, you are more likely to find current, accurate, objective and in depth information from Web sites run by professional information services and government bodies. Not only do they congregate and categorize the information into easy to use formats, but they also have a profit motive that drives them to make sure they provide the best information available. Before the advent of the Internet, you would have expected to pay a few hundred to several thousand dollars for marketing research information in printed and CD  forms. Today, the Net has enabled information companies to provide you with the same information online for prices starting N1500 per month for online from  databases. To start off your online international marketing research, begin with free resources that give you a cursory analysis of general market variables such as GNP, economic and social indicators, political analysis, and other summary country data. Start with the CIA World Fact Book which gives you a political, business, trade and economic fact sheet on all countries around the world. Other good resources for preliminary international marketing research include Web sites belonging to trade associations and government agencies worldwide. Find them with your favorite search engine or directory.

Once you have identified countries that warrant detailed investigation, you now need to use resources that give you a more detailed assessment of the industry market potential. At this stage, these resources should give you an indication of the demand and supply patterns, enable evaluation of regulations and standards, and identify the best market potential for specific products. Free and fee-based services will come in handy at this stage. websites belonging to foreign trade associations, embassies and trade missions will get you started on foreign regulations and requirements, most often for free. The harder task of evaluating demand and supply in your industry can be accomplished using several resources. Vester Royal Business Magnet Company collects, political business, trade and economic information from 30 government agencies and is an invaluable source for country, industry and market intelligence and reports.

Looking at customs or port records of imports and exports flowing through a country is a great way to judge not only the demand and supply patterns, but also know who the major buyers and suppliers in your industry are. A third resource for industry analysis would be the archives of business publications, industry journals and newspapers of a particular country. Going through past articles on your industry will give you a picture on the trends, business practices and general environment in that industry. These archives are available either directly from each publication#s Web site or from archive search services, such as the Global Business Intellibase. The final stage in online international marketing research is the locating and detailed evaluation of potential foreign business partners to determine their capabilities and competitive standing. You want to make sure that your foreign partner, supplier or buyer is able to work with you, pay you and help you meet your organizational goals. Getting a list of potential partners, buyers or suppliers can be done using traditional offline methods as well as using online resources such as the Access Global Business Toolkit. With a list at hand, the next thing would be to make sure that these companies actually exist and if they do, what their performance and status is. Several services including Dun & Bradstreet,EFCC, Hoppenstedt, Kompass, Banks, Teikoku and ICC can give you detailed financial, historical and credit information and evaluations on companies worldwide. The cost for this information ranges between N5000 and N50000 per report, depending on the level of detail required and the location of the company being researched on. Generally, reports on companies in the USA cost the lowest because of the lower cost and difficulty of obtaining corporate data there. All of these services can be obtaind from the Vester Royal Business Magnet Company.

As a new international marketing research tool, the Internet benefits everyone. The information suppliers are able to offer more selective, dynamic and up to date information to a larger number of users while saving on publishing, distribution and other costs. Users worldwide are able to get information that was previously impossible or too expensive to come by. And they can get it right from their private computer/laptop 24hrs a day at a reasonable cost or free of charge. But the biggest benefits go to the small importers and exporters, giving them a fairer playing field, the power of information, and access to new markets worldwide. 

With a list at hand, the next thing would be to make sure that these companies actually exist, this is done by means of verification through the internet connections and if they do, what their performance and status is. Several services including, CAC, Banks, Dun & Bradstreet, Hoppenstedt, Kopsas, Teikoku, EFCC and ICC can give you detailed financial, historical and credit information and evaluations on companies worldwide. The cost for this information ranges between N5, 000 to N50, 000 per report, depending on the level of detail required and the location of the company being researched on. Generally, reports on companies in the Nigeria and USA cost the lowest because of the lower cost and difficulty of obtaining corporate data there. All of these services can be obtained from  Vester Royal Business Magnet Company.

As a new international marketing research tool, the Internet benefits everybody. The information suppliers are able to offer more selective, dynamic and up to date information to a larger number of users while saving on publishing, distribution and other costs. Users worldwide are able to get information that was previously impossible or too expensive to come by. And they can get it right from their private computer 24hrs in a day at a reasonable cost or free of charge. But the biggest benefits goes to the small importers and exporters, giving them a fair playing ground, the power of information, and access to new markets worldwide.

As you may wish to know in international business, there are two major groups Import and Export traders.  Importers are those that engage in brought goods from other countries into their country for sell; while exporters are those that send goods away from their countries to other countries for sell. One question remains and that question is, what of services? Services are inclusive in international business. When Mr. A in Nigeria is rendering service to a Mr B in Ghana it is international service and it is under international trade.

·  Vester Royal Business Magnet Company):  Is one of the companies that handles export operations for a domestic company that wants to sell its product overseas but doesn't know how (and perhaps doesn't want to know how). Vester Royal Business Magnet Company does it by hiring dealers, distributors and representatives; handling advertisement, marketing and promotions; overseeing marking and packaging; arranging shipping; and sometimes arranging financing on their behalf. In some cases, the VRBMC takes title to the goods, in essence becoming its own distributor. VRBMC usually specialize by product, foreign market or both, and--unless they've taken title--are paid by commission, salary or retainer plus commission. 

·  Vester Royal Business Magnet Company:  Has no merchandise of his own to sell but is using her energies to seek out buyers, and suppliers. She identifies what foreign buyers want to spend their money on and then hunts down domestic sources willing to export.  VRBMC sometimes takes title to the goods and sometimes works on a commission basis.

·  Vester Royal Business Magnet Company: This international entrepreneur is a  free agent. She has no specific client base, and he doesn't specialize in any one industry or line of products. Instead she purchases goods directly from a domestic or foreign manufacturer and then packs, ships and resells the goods on her own. This means, of course, that she assumes all the risks as well as all the profits if she accepts to buy and resell. But where he refused to buy and resell both companies (buyer and seller) will pay her commission and bears expenditures incurred.

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Our human development training programmes are designed to assist our client set-up their respective business on a sound footing. The training cuts across different segment of the economy to include ICT, Industrial, Agriculture, Export, Import, Food, Beverage, Manufacturing,Plant/Machine Fabrication, Mining , Quarry, Telecommunication, Tourism and Transportation are facilitated by our seasoned professionals in their respective fields.

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After Payment call or send text message stating, International business, bank paid, teller no and amount paid, to: 08036721009 , 08076075205 or 07088788710, or send us e-mail to bizideas@vestersms.com for details.
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