The importance of SMEs in international trade is incontrovertible and every government desires their small businesses to become a global company. However, due to several reasons they have difficulty in retaining their presence in the international arena. It’s mostly because they skip developing their long haul internationalization strategy which requires a well conceived target market research and planning. Rather, they tend to just take the plunge and reach their potential customers unaware of the market entry conditions.
Without knowing where to export profitably, which markets are growing and which ones are shrinking, it’s like a boat sailing in the ocean without course; you never know where you’re going. So, the best way to start exporting is making a bulletproof target market research at the outset and identify where and how to enter a given market.