Export Clarity – International Trade Tip
What does it mean to be an export-ready company?
The activity of exporting is not restricted to larger companies – companies of any size can enjoy the benefits of selling their products or services in overseas markets. Whether you are operating a B2C ecommerce shop from your home office, a start-up app developer selling on the Android or iOS mobile platforms, or a marketing agency specialising in corporate branding, there are four key areas to know about your business and to prepare in advance to ensure you can meet your future customers’ needs:
- Does your company have the CAPACITY to meet additional demand? What is the optimal output using current production methods? What is the timeframe between the customer placing the order to production to delivery to payment? Can your supply chain meet your increased demand for inputs?
- Does your company have the RESOURCES to make informed decisions about exporting? Consider access to human resources, skills, working capital, and advisors such as lawyers, accountants, finance, export specialists.
- Is the senior MANAGEMENT committed to doing business overseas? Entering new international markets requires patience and openness to new business practices. Clear export objectives and timescales for results should be relevant to the specific market.
- How COMPETITIVE is your product or service in the target market? Is there a viable product-market fit? Take time to know the market and the market entry methods best suited to selling to your customers.
In sum, an export-ready company has the capacity, resources and management available to export its marketable product or service at a competitive price.