Without trade finance, there wouldn’t be Indian spices, clothes, or jewelry in the United States. Or Apple’s iPhones in China, much less any other international product at any respectable distance from its origin.In fact, according to Investopedia, the World Trade Organization (WTO) estimates that international world trade has expanded 80%-90% thanks to trade finance.For this to continue, companies need to include trade finance in their business development strategies.How do you do that? Learn how you can incorporate trade finance into your business development strategy.Incorporate Inland Trade Finance in Market Penetration and Market DevelopmentMarket penetration and market development are key parts of a business development strategy. Market development involves selling more of your service or product to repeat customers.While market penetration is about expanding your product or service to other cities and provinces, it can involve inland trade finance. As you may have to renegotiate local and provincial trade deals.For instance, let’s say you sell jewelry. A business from a neighboring city may purchase your jewelry and sell it to its customers.You have a long history with this client. And know that your product is selling quickly in your customers’ shop. In which case, you could propose selling the client more jewelry for a bulk price.After negotiating, the client agrees. However, despite the long, positive history you’ve had with the client, the client may not feel comfortable paying you before you export the jewelry.This is where a trade financier or banking institution comes in, providing a letter of credit promising that you will export the jewelry upon payment.Consider the Internet and Brick-and-Mortar StoresIf you’re already selling more of your product or service to clients, perhaps it’s time to branch out to another channel such as the Internet?If you run a successful e-commerce store, maybe it’s time to start a brick-and-mortar store as well?That way, your customers have more options where to buy your products.Especially when it comes to brick-and-mortar stores, trade finance can help you secure new import and export trade deals-especially when there are multiple currencies involved.Creating a New Product or Service for Repeat and New CustomersWith repeat customers, you’re doubling the number of products the repeat client is importing.And, with new clients, your new product or service will expand your client base. It’s important that you first create new products for your repeat customers before jumping to new customers, as it involves more risk.Again, trade finance can help cultivate more trust during this period of growth. Since trade financiers or banking institutions can create letters of credit, laying out the terms the importer and exporters must follow.Final Thoughts About Your Business Development StrategyKnow that growth doesn’t happen in a day; it’s harder for businesses to jump from market penetration to supplying new products to new clients.This is why we recommend that you approach growth slowly. However, know that trade finance may help increase the number of clients you trade with, no matter where they are.What’s your take on trade finance? How has it helped your business? Share your thoughts, comments and responses with us.

Odds are, if you enjoy one athletic activity, you probably enjoy a few others as well. Finding people to keep up with your active lifestyle can sometimes be challenging, but finding gear doesn’t have to be. If you are determined to buy all of your sporting goods in one place, you will find that there’s a sports store for you.Health and fitness are becoming a much more regular part of the society today, and with this increased interest in physical fitness, there are more stores selling the right equipment. Many chains are popping up around the country that offer all of the usual gear: running shoes, compression shorts, jump ropes, and all other varieties of equipment. Despite this, not every sports store carries everything that you need, especially if you are interested in more extreme outdoor activities.When you have a real drive for that active lifestyle, you know that there is simply no good time to have down time. You have an activity for every season and for every occasion, always working to keep your heart pumping. During the summer, you might be caught playing some disc golf and during the winter your friends will find you skiing on the slopes. If this describes you, then you need more than the run of the mill sporting goods retailer.Fortunately, finding a sports store that can keep up with your lifestyle is not a fantasy. In fact, many cities around the country have one or more all-purpose stores that offer this type of equipment. Rather than having to go from shop to shop hoping you find what you need, this helps eliminate your trips and allows you to get everything in one place.Of course, the last thing you want to do is trade convenience for quality or price. In other words, you need to be careful when you find an all-purpose sports store to ensure that you are not purchasing inferior quality goods. Fitness and activity may be important, but inferior products could lead to injury, which is something you never want to endure. Similarly, buying your products in one place should help lower your overall cost, so don’t waste time shopping at a place that will inflate prices just because of the convenience factor.Ultimately, a good sports store will offer equipment and apparel for a variety of different activities. Whether you are looking to get gear for your competitive sporting event or simply looking to prepare for another outdoors adventure, having the right store in mind can make your supply run that much easier. This will help ensure you always have the right equipment when you need it, and that you will never have a dull moment.

I’m not going to charge you anything for the home repair advice that I’m about to share with you. In other words, it’s not going to cost you a thing and everyone likes free stuff including house repair professionals. If you are a do-it-yourself house repair amateur or pro, you should read on, because this free advice is going to save you a lot of money and frustration in the future.The advice that I am about to give you, applies to every professional and amateur building repair do-it-yourselfer. Don’t do any building repairs incorrectly. With that said, that’s the free home repair advice that you’ve been waiting for, but will anyone do anything with the valuable information that I have just given you.I’m the person they call, to fix the house repairs that were done incorrectly in the first place. These home repairs often cause more damage than the original ones would have, if they were left alone and no one ever repaired them.You’re free house repair advice is simple and easy to understand. Don’t do any home repairs incorrectly means that you shouldn’t do any home repairs, unless you actually know how to do them or are willing to get the information to do them correctly. Just because you watch your neighbor making a building repair, doesn’t mean that it was done correctly.Improper and poor house repairs can cause lots of damage to your house. If you’re not sure or you don’t feel comfortable making certain house repairs, you can always hire a professional or go down to your local library or bookstore to gather some more information about doing the building repairs yourself.