Guide to Exporting - The UK Knack Group
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Posted On :
Mar-15-2011
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Article Word Count :
614
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GUIDE TO EXPORTING
There comes a time in the life of every successful company when new markets must be sought in order to create new opportunity for growth and profit. At this stage, many companies turn their strategies to exporting their product beyond UK borders – and look for guidance from consultants.
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GUIDE TO EXPORTING
There comes a time in the life of every successful company when new markets must be sought in order to create new opportunity for growth and profit. At this stage, many companies turn their strategies to exporting their product beyond UK borders – and look for guidance from consultants.
EFFECTIVE EXPORTING DEPENDS ON STRATEGY
UK Knack group experience shows that having an effective export strategy in place prior to beginning your efforts will help keep your costs low while simultaneously increasing your chances of success. Investigate possible foreign markets and their location, as well as any local competition you may face. Ask tough questions – and give yourself honest answers. What kinds of profits are you expecting? Will you find local partners? Most importantly: how will the expansion be paid for? Consulting with a company like the UK Knack Group can help you explore the market research, distribution planning, sales and marketing strategies, and sources of funding that will answer these questions.
THE CHALLENGES OF EXPORTING: INITIAL SUPPORT
Businesses must consider fluctuating currency prices and the strength of their home currency when budgeting for overseas activity. HM Revenue & Customs offers a comprehensive import and export guide (customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageImport_Home) to both importing and exporting, and government programs exist to help businesses new to exporting with feedback and support. Assistance with visiting foreign market and subsidized training is also sometimes available. For trade outside of Europe, the complex web of requirements and information is best navigated with qualified advice from a UK Knack Group consultant.
A LOCAL PRESENCE
Some companies use local agents, distributors or licensees to sell in their new markets, while others set up remote sales offices – or even separate companies – to operate abroad. By participating in trade exhibitions in your key markets, you can learn more about what works – and what doesn’t – in an individual market. The UK Knack Group recommends contacting local Chambers of Commerce to obtain specific marketing reports and paperwork applicable to your chosen location, and offers a service to assist with these types of queries. Forwarding agents can be found through the British International Freight Association. In order to make sure your brand stays strong and your customers are well cared for, UK Knack Group experience shows you should remember to discuss after-sales support and include this in your agreement with any sales partners.
MARKETING AND SALES
Knowledge of local markets is the key that separates successful exporters from companies that are unable to profit from foreign markets. The UK Knack Group has found that international knowledge and marketing, followed by sales ability, are the two top requirements for any successful exporting company. Many companies now hire distributors, and work in collaboration with those distributors when it comes to literature about their products and marketing plans in order to target local markets. Web sites, which allow customers to access information no matter where they are in the world, are also critical to today’s successful export businesses. E-commerce, which allows customers to buy your product directly via the web, can identify markets in locations you may not have considered.
OBTAINING FUNDING FOR EXPORTING BUSINESSES
Because obtaining payment from foreign clients can be made more difficult by differences in international law, some banks and loan companies are wary of becoming involved in exporting operations. Challenges encountered when dealing with foreign clients and payment can include fluctuating currency rates, lack of reliable credit checks on clients, and longer payment period allowances, so financiers often require detailed documentation of financial plans. Discussing your business plan with a UK Knack Group consultant can help streamline and sharpen this funding discussion.
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Article Source :
http://www.articleseen.com/Article_Guide to Exporting - The UK Knack Group_55930.aspx
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Author Resource :
Built on decades of experience The Uk Knack Group consists of some of the most experienced professionals in the UK and abroad who have helped thousands of businesses and people to be more successful through Uk Knack Group.
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Keywords :
The Uk Knack Group, UK Knack Group,
Category :
Business
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Business
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