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Exporting.

Article Excerpt
Introduction

Why export? To begin with you'll be opening your doors to a vast number of potential customers. The new enlarged European Union has 450 million people to sell to. If you widen your view to include the rest of the world the potential for growth is mind-boggling. Reasons to export:

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

* It spreads the risk of operating in one local market and/or economic conditions. Falls in demand in the domestic market may be cushioned by export sales.

* Your domestic customers may benefit from your newly acquired knowledge and skills.

Research undertaken by the University of Nottingham (Leverhulme Centre for Research on Globalisation and Economic Policy at Nottingham University, published in February 2002) suggests that exporters show an improved all-round business performance compared to similar companies that do not operate internationally. The skills you develop to support your international trading have spin-off benefits for your overall performance as a company--making your organisation more professional, more efficient and, with any luck, more profitable.

The key to successful exporting lies in understanding what and why you wish to export--exactly what you want to achieve--and understanding the needs of your export customer. This requires effort on your part and a commitment to invest time and money in research and planning to get it right first time.

Action checklist

1. Assess your readiness to export and review your current business position

Before undertaking a potentially difficult and costly exporting exercise, it is worth reviewing the position of your business.

* Can you afford to export? Can you afford not to?

* Are you ready and able to meet the anticipated increase in demand? Demand not only for your product or service but also from an increase in customer enquiries.

* Carry out a SWOT analysis to identify benefits and pitfalls.

2. Research your...

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