The Department of Foreign Economic Relations and Organizational Work provides practical assistance to entrepreneurs in establishing mutually beneficial economic relations with foreign partners and searches for business partners in Ukraine and abroad.
Searching for partners plays an important role in the success of your business. Professionals of the Kharkiv Chamber of Commerce and Industry will help to conclude successful contracts both with partners in Ukraine and abroad, with the maximum benefit for both parties. Our employees translation business documents into more than 50 languages.
The Kharkiv Chamber of Commerce and Industry signed agreements on cooperation with chambers of commerce and industry of more than 70 countries. Every year the Kharkiv Chamber of Commerce and Industry receives more than 1000 commercial proposals and requests from embassies, as well as trade and economic missions of more than 50 countries.
To find a business partner, you need:
The presence of reliable partners is one of the key points in the development of the company's foreign economic activity. Therefore, a real search and informed choice is an important and necessary component of the enterprise management process.
Before you start looking for a foreign partner, you have:
A company can use a number of methods to find foreign partners:
If you are looking for new opportunities to enter new markets and expand your business, we are happy to provide you with the following services:
The reliability of your chosen partner depends on many factors: a financial solvency, status, business reputation, history of the company's development, etc. Before starting to draw up a contract, we recommend checking the foreign partner. What information should be requested from the selected partner and what should be considered?
First of all, we recommend ask your partner to submit the following:
There is additional list of questions, to which you should also pay attention.
The due diligence process for a chosen partner cannot be universal. Under different circumstances, this or that information may be more important or vice versa. For example, if a contract provides for an advance payment, then the small scale of your foreign partner's business or lack of experience in this business will not be decisive. And, conversely, when the payment is deferred, such indicators as its solvency come out on top.
You should not even neglect studying the initial information and paying attention to the above factors.
However, if outwardly everything looks good, worthy, but the partner offers you a contract for a significant amount and on very favorable terms for you, you should look for more in-depth information about the partner in order to avoid unpleasant moments. This includes finding out who owns the business, understanding the stability of the market position, and analyzing the financial condition of a potential counterparty.
If you are in doubt about the partner you have chosen, we will assist you in checking its reliability.
Remember, checking your partner for reliability before making a deal will minimize your risks!
Culture irrefutably determines business prospects. People are doing business in the West and East, South and North. The understanding of what behavior is correct is ingrained within each country, and it is significantly different from what we are used to. Each country has not only its own traditions and customs, but also its own business culture. And how should you build rewarding and long-term business relationships with so many different business cultures?
First of all, for successful business with foreign companies, we recommend taking into account such cultural characteristics of another country as:
Once in a different cultural environment, try to be neutral in gestures, words, and eye contact. For example, when Arabs look into each other's eyes, it indicates sincerity, while in Japan it is a sign of aggression. If you cannot do what you are asked to do and are forced to refuse, then in Europe they will calmly accept a direct refusal. In the East, the answer «No» will be considered disrespectful. In this case, it is better to say: «This is very difficult to do» or «I will try to fulfill your request».
Remember, everything in another culture is fair because of tradition, customs, values, beliefs, and expectations.
Cross-cultural relationships can significantly influence the success of your business in the international market. Therefore, we recommend you to familiarize yourself with the culture of your future business partners in advance.