Overcoming exporting challenges
Posted 29th June, 2017
One of the main services that we provide at Station Couriers is international delivery. If you are considering exporting and trading on an international scale, there are a few things you need to take into consideration.
Initial financial investment
Selling internationally requires an initial financial investment, which can unsettle a business’ plans if they aren’t expecting it. Visiting your new target markets, hiring new staff and any additional manufacturing costs will add up your expenses quickly.
Before rushing into dealing internationally, it is a good idea to discuss your financial situation with your accountant before making any decisions. Remember to take a long-term view, you will be unlikely to see any real profit in the first year.
Your business probably relies heavily on the contacts that you have built up over the years, both customers and suppliers. Starting to trade internationally means that you now need to start building these contacts from scratch in another country.
This could come with its own challenges such as a language barrier. Face-to-face meetings can go a long way to develop better business relationships.
Understanding what new markets want
You may need to adjust your product range to make it more suitable for an international audience or comply with local regulations. Think about how your new audience would make a purchase and what after-sale care they will receive from you. Do your market research!
Every country has slightly different ways when it comes to business. It is important to be knowledgeable and respectful of these differences when trading internationally. Learning some of the local customs that businesses need to comply with could set you above other overseas traders.
If you are thinking of starting to trade internationally or already do so, get in touch with Station Couriers today on 01686 621 190 to chat with us about what services we can offer you.