Ten steps to successful exporting

1. Decide where to sell

Research is vital! Identify the markets with a little desk research. Find the consumption / import figures of products similar to your own and the economic growth rate of a potential new market. Look up the demographics, cultural and religious practices and your potential competition.

Please visit our website for more information on this topic.

2. Have a plan

Your export plan should include your people.

Your People
Can someone from your team drive this programme or do you need to recruit?

Your Capacity
Do you have enough capacity to meet a new market’s demands? Do you need to upscale?

Your Packaging
Will your packaging design appeal to your market? Is there a legal requirement to label things differently or do you need to translate your labelling?

Your Knowledge
Visit your potential new market. Showcase your products at trade fairs and build new contacts.

3. Choose a route to market

You can do one of four options:

1. Sell directly
2. Use a distributor
3. Use a sales agent
4. Create a joint venture.

Whichever option you chose, you must ensure clarity of responsibility for things like delivery and payment and ALWAYS remember to protect your intellectual property.

4. Find the opportunities

Trade fairs are one of the best ways to find opportunities both in the UK and abroad. Meet buyers and generate new business. Check with us about available grants to subsidise the cost of exhibiting, or see if you can share the cost of a stand with another business.

Click here for hundreds of trade enquiries posted to the site each week.

5. Start marketing

Adverts can help you gain exposure but can be expensive. As with the UK, be mindful of the target audience and expense vs. return on investment. Another option is to create a website with content translated according to your target market. Global social media sites such as Linkedin, Facebook and Twitter can also help you to promote your message quickly and free of charge. Although these do not cost anything to set up, they need time invested to keep updated. Whatever you use, make sure all your marketing materials have up-to-date contact details for your company along with the person responsible for export sales.

6. Understand the admin

There are certain admin obligations that need to be correct from the start. HMRC and the UK Embassy of the destination country will help you to clarify the requirements for customs registration, forms, and payments.

Documentation is at the very heart of exporting, without it there is no contract, no transport and no payment. The requirements vary from country to country.

We can complete the paperwork on your behalf – in part or in full depending on your requirements. Contact Roy Broadhead, our specialist on Import/Export Services on +44 (0)  or to ask about our back office support services.

There are two main geographic areas that your exports will fall into:

1. European union

Products can move freely across borders without customs checks and we can advise on any paperwork likely to be required. The buyer’s VAT registration number must be shown on the invoice. If this isn’t shown then you must charge VAT at the UK rate.

2. Rest of the world

Exporting outside the EU can open up wider opportunities and create new challenges. Although VAT is simpler (exports from the UK are zero rated) you may encounter Letters of Credit for the first time or come across requirements for specific customs forms. Contact Sam Paley on +44 (0)  or to check what you need.

7. Get paid and get insured

Once the orders start to come in, you need to be paid. We can help make sure you do that with:

Incoterms

Internationally agreed rules setting out delivery terms for goods traded across borders. Buyer and seller agree details on the terms of sale to prevent misunderstandings or disputes. Incoterms set out responsibility for the cost of transporting goods, insurance, taxes or duties, pick up points, destinations, and responsibility for the goods at each stage.

Export documentation

Get the right documents to enter the market.

Written quotations

A written quotation must set out the details of your product including the size and packaging formats, as well as any potential additional cost for providing export labelling and packaging which you may be charging on to the customer. Setting out the price and delivery terms (incoterms), the estimated date of shipment on arrival and payment terms and conditions is vital to avoid any disputes further down the line. Late, or non-payment of bills is a risk and insurance could be a consideration. Any new customers requesting a form of trade credit need a credit check. An irrevocable letter of credit could be advised which will secure payments according to the terms of the credit and at an agreed rate. Make sure you are insured for your goods during transportation.

8. Legal considerations 

Understanding the legal and regulatory environment in all countries to which you would like to export is vital. We can help get your paperwork in place and put you in touch with international lawyers should it be required.

Things to consider:

Are your product compliance certificates and liability cover valid overseas?
Check your intellectual property rights and registered trademarks.

9. Transport logistics

Now you’ve made the sale and agreed the terms, you have to get the goods there! We can help make sense of transportation. From your Incoterms insurance, duties and customs clearance, to the packaging you require and the method(s) of transport or freight forwarders required.

10. Success!

Congratulations. Now you have successfully become an international exporter. The work doesn’t stop here. Now you need to increase your chances of repeat business and become a reliable international exporter with a solid brand.

Top tips include:

• Keep in regular contact with your customers and get feedback to improve your offer.
• Deliver on time and don’t keep people waiting. If delays cannot be avoided make sure you communicate early and often with your customers and keep them updated on progress.

Don’t rest on your laurels. Keep an eye on other potential customers so that you can grow your sales. Continue with your promotional activity and keep visiting the tradeshows.

What’s next?

With competitive price and timely delivery, Western Union Zhiyuan sincerely hope to be your supplier and partner.

Now that you are successfully exporting into one market use everything that you have learnt and apply that to another new market. Explore adjacent countries or those with similar characteristics. You already have a very good understanding of what it takes to become successful so your exploration into additional markets should be quicker and potentially easier for you to continue with your expansion and growth.

[vc_row][vc_column][vc_column_text]Are you planning a move into the export or import trade? Are you asking yourself, “How should I get into import export, so I can get away from working 9-to-5 day after day?”.

Import/export is a very lucrative business, but also one fraught with risks. One good new though: When armed with deep and relevant knowledge, practically everyone can embark on this journey.

->> 3 reasons why everyone can participate in the import-export playground

Following is a brief list of 5 important things to show you just how enticing the prospect can be, and also to give you pointers on what you should be aware of.

1. Compliance, Rules And Regulations

No matter which country you are trading in, complying with its relevant standards and regulations is out of the question.

You will have to possess a thorough and comprehensive understanding of the rules of every country you intend to deal with, or you are likely to find your goods getting confiscated at customs, which will eventually result in loss of stock and money, and place your nascent enterprise in a dangerous position.

But don’t worry as you will easily find most of the information online nowadays, so get ready to do some research!

(Source: CloudRaxak)

Each country has standards defined for products and commodities – those that once deviated from can result in your shipment getting rejected.  This is especially applied for agricultural products and commodities and food and beverage products – staples of the Southeast Asia.

Proper labeling, pesticide use, additives used, etc.. are required to be documented properly and comprehensively. Country-specific certification may be required as well. An example for Asia standards and regulations for agricultural products can be found here.

2. Business Software and Online Presence

In today’s information technology driven business environment, there’s no way your business idea and model can come to fruition without the support from appropriate business softwares

Many excellent e-commerce software programs can assist you in getting your exporting and importing business up and running. You will need to look for software that allows you to generate invoices, convert currencies in quotations, allow you to manage inventory, etc.. Quickbooks and Zoho are two examples of such software companies that you may consider.

Keep in mind, however, that you may need to tailor the software to suit your business operations.

(Source: PCMagAsia)

Another type of technology resource that may prove invaluable in your international trading business is online Business Directories or B2B portals. These websites allow you to create presence in highly targeted and niche marketplaces where wholesale buyers and suppliers meet. They will generate valuable leads for your business and also help you build your network internationally.

3. Finance

There is a heap of financial information that you will have to know regarding importing and exporting stock. Many online guides will inform you about financial issues such as trade finance, for example.

It is crucial to understand everything you need to know, and proper planning must be carried out to ensure you have a viable and profitable business idea. Otherwise, many unforeseen costs and expenses may come to bite you in the rear later on.

(Source: GlobalTradeMagazine)

Not only will you have to build relationships with a local bank that provides working capital loans, you will also need to arrange for letter of credit (LC), bank guarantees (BG) and a host of other financial instruments commonly used in cross-border trade.

Additionally, when pricing your products, don’t forget to factor in overheads like transportation, financing costs, etc..

4. Building your Contacts

Good contacts are a must if you want to be successful in any business. By developing a comprehensive list of reliable contacts, you can find new business opportunities and gain valuable knowledge and insights into your industry as a newbie.

If networking is not your strong suit, you will have to start learning if you intend to make progress. This aspect is important, and you should not overlook it. Try to acquire contacts with professionals in the industry – buyers, suppliers, manufacturers,  traders, wholesalers, drop shippers, distributors, shipping agents, customs clearing agents, quality analysts, etc.. just to name a few.

(Source: Irisphere)

The various features that online sites like Boxme provide such as the ability to send inquiries as well as receive real time advices from established legal presence at Malaysia, Thailand, Vietnam, Philippines and Indonesia will also prove to be immensely helpful in building up your contact list, especially in the Southeast Asia region.

->> Tramping down import/export barriers for a smooth business expansion.

5. Unique selling points

Your unique selling point – which gives you an edge over competitors – is something you should figure out pretty soon before thinking of doing anything else.

(Source: KSMBOA)

Ask yourself: What unique aspects will drive the profitability of your business? How will you find consumers who want your products? You will have to find a niche in the already crowded market that your competitors are yet to exploit. If you can do that, you are likely to emerge as the ultimate winner.

For example, if you want to import and sell or supply apparel, you will need to find something unique that’s not already selling in your local market – style, material, anything that stands out.

SUMMARY

In case you have not got the message already: Starting an export/import business is tough work. It takes considerable effort to initiate one. Extensive preparation and knowledge of the craft are vital for success.

[vc_separator color=”orange” align=”align_left” style=”dashed”][vc_column_text]BoxMe is the premier cross-border e-Commerce fulfillment network in South East Asia, enabling world-wide merchants to sell online into this region without needing to establish local presence. We are able to deliver our services by aggregating and operating an one-stop value chain of logistic professions including: International shipping, customs clearance, warehousing, connection to local marketplaces, pick and pack, last mile delivery, local payment collection and oversea remittance.

If you have any question about Boxme Asia or how we can support your business, please contact us directly by referring to our hotline. We are glad to be of service![/vc_column_text]

[vc_raw_js]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[/vc_raw_js][/vc_row][vc_row][vc_column][vc_column_text][/vc_column_text][/vc_column][/vc_row]

If you want to learn more, please visit our website import export services.