3 main worries of small business exporters with potential solutions

Oct 28, 2021

Small businesses are always hesitant to consider exporting into the international market. There are so many things that go through your mind when considering exports such as, Do you want to export a product into the international market? Do you have a product in mind? Will I be able to pull this up? what if I fail? How to even look for an overseas buyer for your products? These questions are some of the major reasons small businesses don’t opt-out for export. In this article, we will discuss 3 main worries for small business exporters and their potential solutions, to help you gain the confidence you require to achieve success in your export business. Are your company and your product export-ready? Selecting a product you want to export requires, great knowledge of the characteristics of every target market. First, you need to know which product is worth exporting for that you need to consider the most exported products of your country and the profitability to your business. For example, if you want to export goods from India, you need to get your hands on the Indian export data, which will help you understand what and what not to exports that can lead you to profit or loss. After you decide on a product or products to export, you need to register your company and get a license to export your product across borders. You should also prepare a proper business plan as export requires a proper planning strategy. Invest some time considering things such as budget, strategies, resources, and infrastructure to clear out any doubt. Your business goals must be clearly defined so that you would be able to take clear actions to accomplish that goal. What should be your target market? First thing first, select a target country, you need to be clear about which country you want to export your product to. For this, you should define which countries are the biggest export partner of your business. Again, you need your countries export data, which will help you know the international players you should target to make profitable transactions. The most beneficial thing would be good research to understand the target market in depth which will never go wrong. Identifying potential overseas buyer What do you find the best and trustworthy overseas buyer for your product? It’s a big question that many time make business decide otherwise while considering export. It’s sure is a tricky task as you have to go through various sources to get the best prospects. Global trade events, export promotion councils, embassies, internet, and social connections, government agencies, and global trade data are some of the sources from where you will get the information you require about international importers for your products.