The benefits of exporting
Making the move overseas can bring real benefits to your business but where do you begin?
- Start from a good place
- Is your product or service right for overseas markets?
- Do your homework
- Market entry options
- Marketing and selling overseas
Your product or service may be performing well in the UK, but can you translate that success into a new market? Ask yourself:
Thorough research can help you identify the right markets for your product and services, build a robust export plan and prevent costly mistakes later on. You can conduct this research in different ways:
What should you research?
Your research into potential markets will help inform decisions about the best route to access your chosen market.
There are several options, each with its own pros and cons:
To find out more about selling direct or appointing a 3rd party, click here
To find out more about licencing or franchising overseas, click here
To find out more about setting up an overseas operation, click here
A good website can be your shop window to the world and social media can reach tens of thousands of customers in new markets.
Ensuring you have appropriate financial controls in place to secure payment and manage currency volatility can help take a lot of the risk out of exporting.