(2023-04/01) Open call for International Sales and Growth

Offers can be sent from 29.04.2023.

The deadline for submission is 01.07.2023.

Offers to be sent at the following e-mail: finance@hoyo.tech

Or through post office to: 15-th Korpus no.28, 6330, Struga, North Macedonia

Implementation period of the project is in the following quarters and can be used as a template to submit the final offer:

In the offer indicate which of the following activities are included for the period.

Preparation and Planning:

• Market Research: Conduct thorough market research to identify potential target regions and countries for expansion.
• Feasibility Assessment: Evaluate the feasibility of expansion in terms of market demand, competition, regulatory environment, and cultural considerations.
• Business Case Development: Create a comprehensive business case outlining the potential benefits, risks, and financial projections of the expansion.
• Legal and Regulatory Analysis: Consult legal advisors to understand the regulatory requirements, permits, licenses, and compliance needed for each target market.

Tax and Financial Considerations:

• Tax Advisory: Seek guidance from tax advisors to optimize tax structures, understand local tax regulations, and identify potential tax incentives.
• Financial Planning: Develop a financial plan that includes budgeting for expansion costs, revenue projections, and foreign currency exchange considerations.
• Cross-Border Payments: Set up efficient cross-border payment systems and manage currency exchange risks.

Legal and Compliance:

• Entity Formation: Establish legal entities (subsidiaries, branches, joint ventures) in compliance with local laws and regulations.
• Contractual Agreements: Draft and negotiate contracts, distribution agreements, and partnerships with local suppliers, distributors, and service providers.
• Intellectual Property Protection: Ensure protection of intellectual property rights through trademarks, copyrights, and patents in target markets.
• Data Privacy and Security: Address data protection and privacy regulations when handling customer and employee data.

Marketing and Sales Strategy:

• Market Entry Strategy: Develop a clear market entry strategy that includes pricing, product positioning, and distribution channels.
• Localization: Adapt marketing materials, branding, and messaging to resonate with local audiences and cultural nuances.
• Online Presence: Establish an online presence through localized websites, social media, and online advertising.
• Sales Channels: Identify and establish appropriate sales channels, including direct sales, partnerships, distributors, and e-commerce platforms.

Partnership Networks:

• Partnership Identification: Identify potential local partners, distributors, suppliers, and alliances to support your expansion.
• Due Diligence: Conduct thorough due diligence on potential partners to ensure alignment of goals and capabilities.
• Negotiations: Engage in negotiations and establish mutually beneficial agreements with partners.

Operational and Logistics:

• Supply Chain Management: Establish an efficient supply chain network that ensures timely delivery and quality control.
• Logistics and Distribution: Plan and optimize distribution networks to minimize lead times and transportation costs.
• Local Workforce: Hire and train local talent, complying with local labor laws and cultural practices.

Risk Management:

• Risk Assessment: Continuously monitor and assess political, economic, and operational risks in target markets.
• Contingency Planning: Develop contingency plans to address unexpected challenges, such as changes in regulations or market conditions.

Cultural Integration:

• Cultural Sensitivity: Train employees to understand and respect local customs, business etiquette, and cultural norms.
• Communication: Develop effective communication strategies that bridge language and cultural barriers.

Monitoring and Evaluation:

• Performance Metrics: Establish key performance indicators (KPIs) to measure the success of the expansion.
• Regular Review: Conduct periodic reviews to assess the progress, challenges, and opportunities of the expansion effort.