The small business specialists
Phone: 13 12 49
Exporting can be a great way to expand your business and increase profitability. It can also help to spread risk and reduce dependence on your local market.
Exporting exposes you to new ideas, marketing techniques and ways of competing you can’t experience at home. The skills you develop in foreign markets will also help you to better compete in the domestic market.
It is important to seek advice about what’s involved, consider the risks, decide if it is financially viable and conduct research in your chosen markets.
The Australian Trade Commission (Austrade) provides help to small businesses to grow their business through exporting.
Austrade’s guide to exporting provides practical information on a range of topics including:
The Export Finance and Insurance Corporation provides financial support to Australian based companies that are exporting, in the global supply chain or seeking to grow internationally. Use their online tool to guide you through the exporter journey.
TIP: The International Chamber of Commerce has developed a set of terms (Incoterms) to make it easier to negotiate trade between countries; they are important when quoting delivery prices.
Once you have conducted market research and obtained professional advice you may be ready to start exporting.
Austrade’s simple international readiness indicator provides a good overview of whether you are ready to export. It will also provide suggestions of how to address areas needing more work.
You will need to consider how to launch and promote your product or service in a new market, including:
Having the right contacts and knowledge of your industry are essential. You can build your networks by attending Austrade events and through the Chamber of Commerce and Industry WA.
It is important to be aware of the local culture and customs in the country to which you are planning to export; Austrade has market profiles to assist you.
How you enter a new market is important and will vary depending on your product or service. Options could include participating in trade shows or events, presenting to buyer groups, engaging local distributors, and advertising online and in print.
The strength of your after-sales service will help to ensure the sustainability of your export business. Plan how you will service your client’s needs in their time zone and address any local issues.