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I have been researching possible international markets for our business. I have narrowed my research down to three countries and I am sharing my findings below.
Canada is a potential candidate. It has a population of 35,543,658 and a population growth rate of 1.098 annually. Canada is the United States largest foreign supplier of energy. This includes, oil, gas, uranium, and electric. The top three trade partners are the United States, China, and Mexico. The top three exported goods are oil and mineral fuels, motor vehicles and parts, and industrial machinery. The top industries are chemicals, processed and unprocessed minerals and food products. Canada has a very low risk rate. The overall business environment is stable with room for improvement. The political and economic state is good and corporate default probability is low. As far as business climate it is very good. Debt collection is efficient as well as institutional quality. This company has an abundance of diverse energy resources, it the fifth largest producer of oil and gas in the world and has a well-capitalized and supervised banking sector.
France has a population of 66,217,509. It is the most visited country in the world and holds the spot at third in the world from tourism. It is a leader in luxury goods as well as perfumes and cosmetics. The country’s Business and Country risk is very low. The business environment and economic standing is very good. The country offers a skilled and productive workforce. Global agricultural power and competitive international groups are other strengths of the country. The geographical position of France makes it an excellent communications network.
Germany has a population of 80,970,732. This risk assessment of Germany shows a very low risk rate compared to other countries. Germany has the fifth largest economy in the world and the highest economy in Europe. Germany is the United States’ largest European trading partner and ranks sixth in the market for U.S. exports. The country boasts a highly skilled labor force and is a leading exporter of machinery, vehicles, chemicals, and household equipment.
Each of these countries could very well be the key to our next market expansion. I hope my research has been helpful. Please let me know if I can be of more assistance.
I just need a response in a couple of sentences of why she choose these countries and how it would be good for business.