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10 steps to exporting

Growth

1 - Decide where to sell.

This may sound obvious, but don’t try and sell everywhere at once. Start small and build

Help is available from:

Export for Growth - services and help aimed at helping small and medium business enter export markets.

DfIT Market Research – Help and advice on market research, defining market potential, analysing the potential and visiting trade shows.

Export is Great is a website you can visit to access 1000’s of live export opportunities which can be filtered on market and sector. You can even set up alerts so you get notified directly of appropriate opportunities for your business. While you’re visiting the website you can also download the handy Export Guide which gives you guidance on routes to market, getting paid, logistics and much more.

Enterprise Europe Network helps businesses innovate and grow on an international scale. It is the world’s largest support network for small and medium-sized enterprises (SMEs) with international ambitions. 

Embassy of destination country

 

2 - Have a plan.

Your plan will need to be flexible as it will need to change as new challenges and opportunities present themselves. Your plan to successful exporting should include your thoughts on the following:

Help is available from:

Export for Growth - services and help aimed at helping small and medium business enter export markets.

DfIT Business Planning – web based information on creating a business plan for exporting.

Growth Hub - advise on creating a business plan

 

3 - Identify the best way of selling into your new market

No matter which method you use, you must ensure that there is clarity regarding who is responsible for things like delivery, payment and insurance. Incoterms are internationally agreed terms that set out the responsibilities of the buyer and seller with respect to carriage of the goods from buyer to seller, export & import clearance, how the costs are divided and where the risks transfer from the seller to the buyer.

You should also ensure your intellectual property is protected so that others cannot copy your ideas and products.

Help is available from:

Export for Growth - services and help aimed at helping small and medium business enter export markets.

Department for International Trade (South West)

DfIT advice on Selling into the market – web based information to help sell overseas

International Trade Shows – a website listing international trade shows in various countries by product sector.

International Trade Shows (Europe) – a website listing European trade shows by destination.

Trade Fair Dates – a website listing international trade fairs

Department for International Trade (Find a buyer service) – a service whereby your products and services are showcased throughout the world.

DfIT Trade Shows – web based information on attending trade shows

DfIT E-Commerce - web based information on online selling overseas.

Growth Hub - providers offering help on exporting

 

 4 - Get funding in place

It is essential that before you start exporting that you get the appropriate funding in place. Depending on the payment terms that you agree with your customers, there could be several weeks between when your shipments are made and when you actually get paid. This could have a major effect on your cash-flow.

Most high street banks are part of the Export Working Capital Scheme. Under this UK Export Finance provides partial guarantees to lenders to cover credit risks.  This can It can particularly help where an exporter wins an overseas contract that is higher than they can typically fulfill.

Help is available from:

UK Export Finance - is the UK’s export credit agency, providing insurance to exporters, guarantees to banks providing export finance and loans to overseas buyers of goods and services from the UK.

Export for Growth - providing support to help navigate the labyrinth of funding and investment sources.

Export Working Capital Scheme - local high street banks working in association with the UK government to provide funds for exporting

 

5- Understand the legalities.

Help is available from:

Export for Growth - services and help aimed at helping small and medium business enter export markets.

Department for International Trade (South West)

DfIT Intellectual Property – web based protection for your intellectual property

 

6 - Marketing your new business.

As in the UK, marketing your business could be expensive. It is important that you research you market thoroughly and identify the best media to reach your target demographic.

When you advertise, make sure you have enough product to satisfy any demand. Do not be in the position of over-promising and under-delivering. When launching a brand in a new territory you need to build brand credibility and avoid any situation that risks damaging the brand.

Help is available from:

Export for Growth - services and help aimed at helping small and medium business enter export markets.

 

7- Fill out the forms.

Successful exporting comes down to getting the documentation right. Without documentation there is no contract, no transport and no payment.

Help is available from:

Export for Growth - services and help aimed at helping small and medium business enter export markets.

HMRC

Department for International Trade

Chamber international

Freight Forwarders

Embassy of destination country

 

8 - Sort out the transportation.

When transporting your goods, use a reputable freight forwarder. They will be able to help and advice on:

Help is available from:

Freight Forwarders

Department for International Trade (South West)

Export for Growth - services and help aimed at helping small and medium business enter export markets.

 

9 - Get paid.

There are internationally agreed rules called Incoterms that help prevent misunderstandings when exporting to another country. Incoterms set out who is responsible for the transportation costs, insurance, taxes, duties, destinations and the point where the responsibility for the goods are transferred from the seller to the buyer.

Help is available from:

Export for Growth - services and help aimed at helping small and medium business enter export markets.

Department for International Trade (South West)

Department for International Trade – web based information to ensure you get paid

 

10 - Build on your success.

You now know what exporting success looks like. It’s now time build on that success by putting into place procedures in order to secure repeat business, gain new customers and build you brand within your new market.