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The Power of Partnership There is no need to “do it all yourself”, and in fact, international ventures by small and medium-sized enterprises almost demand some attention to the power and effectiveness of partnerships. At Northstar Trade Finance, our success and the effectiveness of our unique business model are based largely on well-conceived and market-tested collaboration and partnership models, which have proven effective in Canada and internationally. In addition to partnerships which extend to the point of equity ownership in Northstar, our approach has included both private sector and government partners, and has focused on offering our unique core expertise, in exchange for complementary capabilities and market access. Even as the public sector describes the critical importance of SME’s to the Canadian economy, and as financial institutions join in a chorus of support for entrepreneurs as the “backbone of the economy”, the reality remains that SME’s are often under-served, and face tough competition particularly in international markets. Well-planned and carefully selected partnerships and collaborations can be extremely valuable to SME’s seeking to engage in the international market place: our success at Northstar proves, compellingly, that this is so. A partnership need not be a legal arrangement or formal organization structure to be effective. Even informal exchanges of information and offers of mutual support can be very valuable, and can support an international venture in critical ways, without diluting your control of the venture. Industry and professional associations, chambers of commerce and numerous government agencies (including the Trade Commissioner Service profiled above) can be important partners, as well as facilitators of collaboration, relative to your international ventures. Experts from freight forwarders to customs brokers, to bankers and consultants, are important as enablers of SME success in the international marketplace. Any partnership or collaboration – formal or informal – must follow appropriate due diligence, especially in the international marketplace, where information about a prospective partner may not be readily available, or at least not available in the ways that it can be obtained in Canada. Careful selection of associates and partners in international markets can make or break your venture, and your brand, in those markets. At Northstar, we have been diligent in selecting the partnerships which support our success and enable us to provide unmatched support to our clients. These partnerships are both clearly complementary, and in some cases, perhaps more creative and less intuitive – but all have evolved to be very important to Northstar and to our clients – and each has contributed to proving and evolving our value proposition. Look for opportunities to complement your capabilities, market knowledge and/or access through partnerships and collaborations: there are countless resources available to help you identify potential partners, buyers and suppliers across the world or around the corner, and the time and effort invested will prove valuable to your business in the end. Effectively selected and managed, even the most informal of partnerships can lead to bottom-line value and results: The Power of Partnership. Talk to our team at Northstar: we know trade finance, and we know the Power of Partnership. |
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Northstar shareholders are the Bank of Montreal, the Royal Bank of Canada, National Bank of Canada, HSBC Bank Canada, CDP Capital International and the Government of British Columbia. The Government of Ontario provided initial capital, and the Government of Canada provides support through the Export Development Canada (EDC), the Canadian Commercial Corporation (CCC) and the Business Development Bank of Canada (BDC).
