Canongate Partners

Canongate Partners (CP) provides advice on Market Entry for UK and other SMEs seeking access to the US market. This approach involves the provision of consulting services tailored to the needs of each company. The phased approach is described below.

CP provides a free response to any initial enquiry to help a company understand the options available and explain its reasons for considering US market entry. Holds a meeting to draw out the management’s thinking.

CP enters into a contractual agreement with the enquiring company, assessing the time needed to conduct the evaluation phase. A retainer fee is charged for a one to two-month period, billable in advance in line with the contract. This is a non-refundable retainer and results in the delivery of a detailed report for the company. It includes details of market opportunities and an analysis of competition.

This second phase grows from the evaluation. CP and the company develop the Business Plan and create clarity around key issues of type and amount of financing needed and key staffing hires required, including the identifying of professional services from lawyers and accountants. The comprehensive plan will contain agreed goals and objectives and the means of managing them. Over one to two months this phase will be completed and involve very close cooperation with the company’s leadership team.

The decision having been taken as to how best to move forward and the plan agreed, CP and the company continue to work together to ensure successful implementation and efficient coverage of the human and financial capital aspects – the dual approach.

Building the foundations of the successful business is the beginning of a longer-term project. CP commits to maintain ongoing support and to remain involved through regular meetings on at least a quarterly basis. CP may introduce new business opportunities as the business grows.

CP works on a retained fee basis, invoiced to the client company. Additional costs may be charged by third parties introduced through CP. The scale of fees will depend on the amount and complexity of work needed and the size of the company.