Any company setting out on the path to successful international business is likely to need a local partner in the target market. Teaming up with the right business partner will make the difference between success and failure, between having a long term relationship and having just a brief affair. The costs of selecting the wrong partner in terms of extra effort, missed business opportunities, potential legal and reputational damage and being forced to switch to a different partner later on can be very high. Good partner selection is an investment which pays dividends.
Europartnerships advises and assists clients to search for and select the right business partner or to change to the right one. We are doing this in the United Kingdom and Ireland – and, through our network, in other countries.
Collaborations may take various forms, including agents, distributors, licensees, franchisees, JVs and other kinds of strategic alliance but the most effective and common options are with an agent or a distributor. Partner selection is more than just a partner search. We not only gather information and compile a list of potential candidates but we also assess this information and offer guidance based on our assessment. We scrutinise potential partners so that decisions are made not only on the basis of ‘personal chemistry’ and forecasts but also on hard facts. On behalf of our clients we gather objective information in relation to the financial and legal status of the prospective business partner and on their presence and reputation in the market segments targeted. Advice is also given on the necessary contractual arrangements that always need to be in place, taking fully into account national legislation and EU Directives.