What is an international tender and why should your company take the step

Do you know how your company can access a new market more safely and transparently?

 

If you are going to take the international leap, look for safe and reliable channels and one of them is international tenders.

It is an alternative that assures you both the transparency in the awarding process and the collection during the execution of the project since the payers are international entities of great solvency.

But do you know what an international tender is and if your company is ready to apply for it?

What is an international tender?

An international tender is a competitive selection process carried out by a public body to contract a service, carry out a work or acquire goods.

International tenders are open to any company since the important thing is not the size, but the economic situation.
And is that despite the security and transparency that this alternative ensures you, its main drawback is that you will not begin to see the benefits until the medium-long term.

Therefore, if the economy of your company is not good, this alternative is not an acceptable option for you due to the time periods with which you would have to work.

Seek external advice

When it comes to internationalizing a company it is essential to gather the necessary information and look for competent sources, since one of the main drawbacks of today is the excess of unreliable information.

If you start from scratch, it is best to approach organizations such as Extenda,  the Foreign Trade Institute (ICEX) or private organizations such as Iberglobal to advise you.

It is also necessary that through experts perform a SWOT analysis (weaknesses-threats-strengths-opportunities) to know the real capacity of your company to launch into a new market and what aspects should improve. In this interview with Juan José Roca, Extenda Internationalization consultant you can know what kind of help this type of experts can offer you.

Types of tenders to which you can choose

According to the multilateral organisms that summon them, the contests can be of three types:

1) Construction contests
2) Real estate supply contests
3) Service contests

Who finances these projects?

These projects are financed by Multilateral Organizations or International Financial Institutions such as The World Bank Group and Development Banks, the United Nations or the European Union.

Other institutions that allocate aid are the Spanish Agency for International Cooperation (AECI) or the United States Agency for International Development (ASAID).

They are usually projects that contribute to the development of emerging and developing countries.

Throw yourself with a head

International tenders are a safe alternative to access an international market.

They are open to any company through a contest, however, it does not have to be convenient for your company. It is very important that your financial situation is healthy since the time periods and charges can be delayed in time.

If you want to internationalize your company, go to official sources, gather all the necessary information, study your options and then act accordingly.

Good luck on your journey!