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Export for the Beginner

Export for the Beginner. Presented by: Mike Smith, ITRISA. 1. Prerequisites for successful international trading. Why companies should engage in international trade… Expanded market opportunities Local market: slow growth More balanced production of seasonal goods (fruit, clothing, etc.)

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Export for the Beginner

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  1. Export for the Beginner Presented by: Mike Smith, ITRISA 1

  2. Prerequisites for successful international trading Why companies should engage in international trade… • Expanded market opportunities • Local market: slow growth • More balanced production of seasonal goods (fruit, clothing, etc.) • Cost reduction (lower unit costs) • Extended product lifecycle • Improved product quality & operational efficiency • Hedging of risks • Enhanced profit potential 2

  3. Prerequisites for successful international trading Differences between trading locally and engaging in international trade.. • People and their environment: Language, customs, politics, legal systems, climate • The importance of documentation: L/Cs, transport, insurance, statutory doc. requirements • Tariffs, taxes and restrictions: Duties and permits, VAT, standards. • Foreign exchange (+ Exchange Controls) • Greater distances 3

  4. Prerequisites for successful international trading Assessing a company’s readiness for international trading • Management commitment • Market coverage • Production capacity (exports) • Knowledge and expertise • Financial resources • Product appeal • Product performance • Product adaptability

  5. Prerequisites for successful international trading The export process • Develop an export market • Handling export enquires • Establish methods and terms of delivery • Financial risk avoidance • Trade documentation • Export costing • Deliver goods timeously

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