When running an import and export business you’ll need various services that will make your operations proceed in a proper way. Otherwise you’ll end up with a number of losses and failures like incorrectly prepared documents, faulty organization of shipment, false declarations
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Prospect: Your prices are OK. But our payment policy lets us work only T/T 45 days after B/L.
You: Sorry, but we work only [30% in advance and the balance before shipment.]
Prospect: [lost comm.]
How many times have you not done business with a prospect just because you had doubts about them?
How many times have you abandoned a deal because you did not have enough capital to produce such a high volume order?
How many times have you ended a negotiation due to not being able to agree on payment terms?
How many times have you been afraid to fail to fulfill such a big order out of lack of finance?
How many times has the financing impasse hindered your business?
While businesses are experiencing the worldwide storm, SMEs particularly feel the pinch to the bone. This pushes them to consider going global. However, sometimes the journey of exporting may end up with worse consequences.
Running a business is a significant undertaking, and expanding operations to a global scale requires even more effort and planning. Companies seeking to expand internationally should be aware that extensive preparation is necessary before entering foreign markets.
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Tariffs are customs duties imposed on merchandise imports by governments. A country or a trade block imposes a tariff either to a country or to a specific product. For the latter, it’s important to know the correct product code as the customs duties are applied according to HS Code.
It’s crucial for exporters to know about tariffs and non-tariff barriers before deciding to enter a certain country. They are also an important criteria when doing target market research as they directly affect the buying behaviors of importers.
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FOB, short for “Free on Board”, is one of the most preferred shipping methods in international transportation. According to FOB rules, the exporter is obligated to deliver the goods aboard the vessel designated by the importer at the agreed delivery port in the country of export.
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Deciding to start exporting can be daunting for small businesses that have no knowledge of international trade. This is quite understandable, because what we do not experience is a mystery to us; until we get to try.
In the age of globalization, the number of businesses that start exporting are exponentially increasing all around the world. What’s more, they are born as global SMEs. In a world where different cultures are familiar with each other and there is a tremendous connectivity through technology, I wouldn’t expect otherwise.
Although there are various motives that drive people to start exporting, the ultimate goal is growth. And there is a limit to growth in a certain area where there are limited buyers.
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Every business owner confidently stands behind their products or services and they like to promote themselves in this vein. But when it comes to finding buyers, it turns out to be an issue that doesn’t have to do with how good their products are. If the plan is to go global, then things are getting even more complicated because you have to know how to find buyers to export your products or services. I have actually good news to the question.
As we all are aware, digitalization has paved the way for democratization of information since the beginning of the millennium. This encouraged tons of useful platforms to pop up which inevitably brought an abundance and pollution of information along. Even in this info pollution, if you know how to find what you are looking for, you can find any information you need.
In order to find your potential buyers, first you have to know “where” to look for them and I’m going to help you with that.
There are basically three ways to find your international buyers:
These are mostly free sources but if you want to go deeper with your research, you’ll have to spend some money.
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