Finnish companies are increasingly going international in an earlier stage. In this context, the limited size of the domestic market leads companies to contemplating their growth strategies from a broader perspective. Currently, the EU largely forms the home market for companies, which is why an increasing number of firms are seeking new business opportunities outside this home market. At the same time, business internationalisation has taken new forms. Companies no longer seek growth only through exports but are increasingly utilising a new market as a purchase channel and a destination for offshoring of their business functions or sub-processes. Companies also establish a business abroad with a view to selling their products in local or neighbouring markets and sometimes delivering their products on a global scale.
The BRIC economies, i.e. Brazil, Russia, India and China, number among the most important growth regions in emerging markets. Although these countries provide huge growth potential, their business environment is varyingly complex and difficult to predict.
Pohjola Bank is promoting its corporate customers' success in these challenging markets too, providing companies with its partner network through its BRIC business model.
Instruments used in foreign trade serve the basic needs of trade. Documentary payments, payment term and financing arrangements, guarantees (e.g. advance payment, performance and maintenance guarantees), foreign exchange transactions and payment orders are there to get business rolling.
Establishing a business or unit abroad multiplies the company's needs. Through our partner banks, companies can satisfy their needs for banking services, such as:
account opening, management of account use and account access instruments
financing for a company starting a business from a local bank with guarantee provided by Pohjola, while utilising the parent company's collateral in the home country
financing arrangement related to establishing a business, including capital transfers and foreign exchange transactions
Our partner banks can also recommend whom to consult for information on business premises, legal affairs, taxation, labour legislation and other practicalities. Countries differ in challenges companies face and therefore solutions available vary accordingly.
Our BRIC business model is based on Pohjola Bank's intense cooperation with major players in each market. In assessing a partner's service range, we have paid attention to the extent of the partner's branch network and the effectiveness of services provided by the partner. Smooth and uncomplicated cooperation is of particular importance. For a Finnish company, this means that it has access to banking services that are as effective and extensive as possible in each country.
Read more about technical requirements