SME Toolkit UAE
Khalifa Fund
Home  > Practical tips for successful exporting
 Share  Print Version  Email

Other Translations

Practical tips for successful exporting


Provided by Potential.com, Content Partner for SME Toolkit UAE


Sea freight and air freight are mostly used for shipping products to distant markets, while rail freight, and road freight, are more common within a domestic market to get products to different cities.

So how can you assess your exporting readiness?

 

Understand the importance of exporting to your business sustainability, dedicate a substantial amount of your time to developing an international market; especially in the initial stages, and ensure having experience in selling products to other countries, processing export orders, securing payments, and handling all risks involved!

 

Assure being capable of funding your export market development for at least 12 months without receiving returns!

 

Undertake research and development in an attempt to enhance the functionality, design, quality, and efficiency of your product(s), and thus compete in an international market.

 

Ensure having the capacity to produce over and above your domestic market needs, at short notice, and without any major capital investment. Also, study your international competitors, their products, and pricing policies.

 

Raise your awareness of the core exporting procedures at the preliminary, pre-shipment, shipment, and post-shipment stages! Furthermore, learn about the basic financial and auditing requirements, the different methods of payment (cash in advance, letter of credit, documentary collection or draft, open account, and countertrade), as well as export/import financing (letter of credit, bill of exchange, and bill of lading).

 

Exporting is a lucrative way of developing and expanding business opportunities, and spreading the risks over a number of countries, but it should not be tapped into lightly because failure penalties could be high!

 Share  Print Version  Email
Ratings (0)
If you are a human, do not fill in this field.
Click stars to rate.