The “how-to –be- an- entrepreneur” handbooks are full of tips and advice to teach new business enthusiasts helpful tricks for taking calculated risks. Follow these tips to minimise the risk in trade.
The Rand is currently at its lowest point in history and analysts are not optimistic about it strengthening in the near future. If you have a quality product and production capacity this signifies an opportune time to start or boost export sales.
Below are 5 common costly mistakes regularly made by international traders, make sure it does not happen to you.
Avail of government incentives to expose your export goods to foreign markets.
While your business may have a successful trading history and an established infrastructure, making the jump to exporting is not a simple process.
Make it a priority to protect your intellectual property well in advance of having your exported goods landing on foreign soils.
When it comes to export, one must always begin with the end in mind – your market.
For assistance with establishing a profitable export arm to your business, refer to the organisations listed below.
Patrick Schofield, co-founder of Streetwires and exporter, has this advice to share on the do’s and don’ts of exporting.
Well-ordered financial records and systems are critical in ensuring regular, timely payments.
Referrals are key to finding agents and distributors you can trust.
Understanding – and managing – the paperwork associated with exporting will be critical to developing a slick and profitable international operation.
Ensure your export product meets all requirements before you ship.