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Exporting.

Article Excerpt
[check] This checklist outlines practical techniques for exporting products for the first time.

For many businesses, exporting presents exciting challenges and opportunities, yet it can also be fraught with risks and difficulties that are different from those encountered in the domestic market. The key to successful exporting therefore lies in understanding why you wish to export--exactly what you want to achieve--as well as carefully planning how you will exploit the export opportunity.

Advantages of exporting

* It is an opportunity to grow the business by exploiting new markets.

* It spreads the risk of operating under only one set of local market or economic conditions.

Disadvantages of exporting

There are a number of practical difficulties that can arise when exporting, including:

customs regulations, documentation and other legal requirements

language barriers

currency variations

possible political uncertainty

difficulty in knowing the local business culture in general, and understanding market conditions for your product in particular

managing costs, in particular those of transport and distribution.

Action checklist

1. Review your current business position

Before undertaking a potentially difficult and costly exporting exercise, it is worth reviewing the position of your business. Some of the key issues to consider include:

* How secure are your core markets, and have you considered all the other possibilities for expanding your business (eg product extensions or new niches springing from the existing home market)?

* Can you afford to export? How will it affect your cash flow?

* Can you meet...

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