It isn’t easy, but if done right it can be rewarding

1-Decide which products to import and export

• Knowing what to export is the most important part to make your business meaningful.

 

2-Make a business plan

• Need to decided what to export, pick a name for your business, determine the countries as your target, figure out pricing and financial details. DGRPco

 

3-Obtain all the needed tools

• Internet, laptop/pc are needed.
• In some countries having a web site is a must to trust the seller/buyer.DGRPco

 

4- Develop relations and make contacts

• An essential part for any business is making contacts so always try to develop good relations with the buyers

 

5- Raise capital

• Low risk in low capital can built-up network. For raising capital, you can take the helps of banks or investors. DGRPco

 

Challenges associated with exporting

Competition:

• Having competitive advantages to stay ahead of the market is a vital element to compete in the globe.

Extra costs:

• Export market development takes time and needs to be patient. Developing an export market needs new packaging, new personnel and undertake operational tasks.DGRPco

Cultural difference:

• Domestic market might be different to your export market. great access in the export market can be gained when you become familiar with the cultural situation in your export market to adjust your approach to suit if required. DGRPco

 Transportation risks:

• Risk of damage, loss or theft are the concerns in exporting goods

Market information:

• some markets are extremely difficult to access their information. Lack of information would mean that you do not have sufficient information on your product’s competitors and the market trends. It can negatively affect your ability to do well in target market.DGRPco