Exporting is a great way for a business to expand its customer base and improve profitability. However, if you lack experience or knowledge of the exporting process, you may not be utilising export to its fullest potential.
If you are a newcomer to the exporting world or you’re looking to up your export knowledge, take a look at our top tips for exporting success below.
Choose your market
Knowing where your product may sell is, of course, a critical component. Take the time to research where there may be interest and demand for your product internationally, as well as where your competitors may have found success.
All businesses will require some form of insurance, but this is of particular importance to those exporting. Products such as ‘marine insurance’ will provide cover when dealing with air, sea or road freight, should anything happen in transit.
Ensure your capacity
It goes without saying that you should only export if you have the resources and financing to administer it. Having a team in place to take care of logistics and paperwork, as well as the cash flow and capabilities to deal with additional demand for your products, are all crucial.
Whilst this won’t always be the case, it is certain to be a key consideration for the foreseeable future; you must account for COVID-19 restrictions when exporting. Each country is in its own stage of virus response, and therefore each will have its own restrictions with regards to imports. This is made all the more challenging by the fact that these restrictions are changing constantly, therefore make sure that you keep up to date with the situation at your exporting destination and change your plans accordingly.
Choose the ideal exporting partner
Support from an experienced freight forwarding partner can make a significant difference to the success of your exporting. They will understand the requirements and the restrictions you will face, and they will have agents at key locations across the globe that will ensure your goods reach their destination seamlessly.
Here at Grace Overseas, we have been supporting businesses in their exporting endeavours for over thirty-five years. Find out more about our freight forwarding services here, or speak to our team today to discuss your requirements.