Essential exporting tips to kickstart your international business

10 September 2019

Are you thinking about exporting your products and services, but are unsure of where to begin? We’ve put together a quick guide to help you and your company get export ready.

Things you need to consider:

Research your market

When you start to research the market you are looking to export to, ask yourself the following questions:

• Is there a need for my product or service?
• What are the legal issues I need to consider when I start exporting?
• Is there a demand for my product overseas?
• Do I have the right resources to deliver this product internationally?

Naturally, you are not going to know how to handle all of these practicalities straight off the mark, but one way to help find some answers is to attend an overseas export event or trade fair.

Attending events is a great way to familiarise yourself with your target market. It can also be a useful way of meeting people who can help distribute your product or service to market (as well as potential opportunities to build prospects along the way). Trade and export events can also be a good way to find out more about the culture, export laws and business practices of the countries you wish to export to.

Although with the Covid19 lockdown affecting trade fairs and conventions, it could be that Virtual Events could benefit your business – download our free eBook – The Essential Guide to Virtual Events.

You can even source the team you need to help you on your way: a solicitor to advise you on international exporting laws; government agencies such as the UKTI, who can advise you about customs and trade laws; public sector organisations like the British Chambers of Commerce who can help with international trade promotion and agents in the Intellectual Property Office to help patent you product or service. 

Conducting research not only provides the invaluable information you need to start planning your exporting activity, but can also give you an insight into your competitors and their position within the market. Some essential aspects to your research will be to understand the size of opportunity, how you might need to differentiate your product or service offering, and whether there is a demand or scope for your business in the existing market place.

Source new suppliers

There are a number of considerations you should think about when it comes to your suppliers… Could you reduce costs & improve quality by changing suppliers? Will your existing suppliers cope with a growing international demand?

Practically speaking it may be worth sourcing new suppliers who are local to your potential export market not only can they help you in understanding the local logistics and culture it provides the end customer with a point of call for any issues that may arise.

Create an export plan

Having completed this research and become familiar with the information you need to become export ready, it’s a good idea to create an export plan. This will help you focus clearly on how best to expand your business into new international markets.

You should try to include the following:

1.  An overseas trading marketing strategy

2.  The most efficient and cost effective distribution channels for your product or service

3.  Your business model (B2B, sales office, joint venture, etc.)

4.  Test your market for any specific changes that should be made to your product or service before you start trading overseas

5.  Key contacts to help you develop your export market

6.  Details of your financial resources (including an insight into export finance and how your export activities will be funded)

Getting Started

Efficient Distribution

Having identified your first overseas marketplace, you should think about the most efficient way to distribute your product overseas. Do you want to sell your product direct to your customers, online, or through an agent or local distributor based where you want to market?

Your choice of distribution channel will be influenced by your product or services – it may prove more cost-effective to sell through other companies, rather than directly to the end-user? Either way, now would be a good time to identify and secure the most appropriate sales and transport routes.

Whichever path you choose to follow, make sure it helps keep overheads low yet still maintains product integrity and keeps your customers satisfied.

Close the Deal

Support your customers

So your exporting plan is ready, and you have the best suppliers and distributors lined up for your business…What happens next? In today’s economy, customer feedback can make or break a business’ reputation in an instant. Now more than ever is the time to be there for your customers, wherever and whenever they need you. It’s important to remember that a customer’s worth doesn’t change if they are located abroad. Therefore it is essential that you offer the same standards of customer service to your overseas customers that you would offer your UK market.

That is just smart business: by taking ideas and feedback from your international markets on board, you can improve and evolve your services to meet ALL of your customer’s needs.

Read the latest advice on preparing to export goods from the UK to the EU from January 1 2021

Need more information?

Are you looking for more in depth information on global exporting? Guidance as well as online information about exporting is widespread, so it is vital that you make the most of the knowledge that is available from experts.

This will be especially important given the ongoing global political changes as well as Brexit, for these will undoubtedly impact both European and global trading markets for UK exporters.

The UK Trade & Investment site is a great place to find support and you can also check out their #ExportingIsGreat campaign for more information as well as these key exporting resources.

• Your Local UKTI Advisers are key contacts to help and give advice on exporting
• Your Local Chamber of Commerce can help with export documentation and finance
• B2B Central work with partners to bring the benefits of B2B eCommerce to British SME’s
• UK Export Finance provides trade finance and insurance for exporting
• The Institute of Export gives advice, guidance, offers courses and qualifications

Contact Us: #seetrybuy for a FREE 14 day trial to Kompass EasyBusiness – our market-leading global B2B directory online.

Author: Rebecca Herle