Big multinational brands already have the global expertise and resources to succeed in global trade and finance. In contrast, MSMEs often have many challenges to overcome as the global trade system was not built for them.
MSME’s brands are often regional brands with limited recognition abroad, so they need more time and effort to sell in export markets. Risk averse buyers in the importing country often start with small volume, consolidated shipments and different payment methods. Many MSME’s do not wish to risk financing and credit terms to overseas, foreign buyers.
WFE benefits MSME suppliers by offering end to end supply chain services that make sense for their business, reduce risk and save time. We help sell and market products to the local export marketplace. We manage the package requirements, certificates, logistics, tariffs as well as export laws and regulations. On the ground experience, empathy and sensitivity to different cultural, language, legal and business practices often plays a key role for a successful outcome. Ongoing after sales service is also important.
We continue to build our own global team and network in several markets. WFE can potentially help scale the MSME product to multiple export markets. This can be a faster, cost and time efficient method to develop exports, instead of one market at time.