International Business Support Systems

Business Support Systems refer to organized methods aimed at providing support in areas such as financing, advice, or information to businesses aiming at international expansion.

Trade Agencies: Organisations like the World Trade Organization (WTO) and International Trade Centre (ITC) provide support by promoting free trade, offering information and setting trade rules.
Government Initiatives: Many governments have initiatives aimed at supporting local businesses going global. This might include financial grants, mentorship programs, information about foreign markets, and networking events with potential partners or customers.
Chamber of Commerce: These local, national, or international organisations are designed to support businesses. They can offer resources, advice, networking events, and sometimes funding.
Consultancy Firms: These firms can provide in-depth guidance tailored to a business’s specific needs and industry. Services might include market research, strategy development, and assistance with specific operations such as supply chain management.
Export Credit Agencies (ECAs): These government or quasi-governmental agencies provide guarantees and insurance for exports, decreasing the risk and helping to enable trade.
International Banks and Financial Institutions: These institutions can provide the financing necessary for international expansion. Services might include loans, payment services, and currency exchange services.

Remember: the right support systems can dramatically affect a company’s success in international business. It’s crucial to research and utilize the various resources available.