The world is a big market
Despite the risks and additional costs, exporting can be a valuable way to expand your market and find new customers. By expanding to export markets you are effectively establishing a secondary thread of business, and you must plan accordingly. Exporting raises many new questions for your business dealings, including additional financing, freight and business regulations in the export country.
Your export plan will operate in much the same way as your business and marketing plans. It will answer questions on how your exporting operation will operate, addressing issues such as potential customers, transportation and costs.
A vital source of information for Australian businesses investigating their potential for export is the Federal Government’s Austrade program. You can seek information and advice about export markets, including market intelligence on local regulations, competition and business prospects. Austrade can also assist your business with concerns such as language translation and making contacts within the export market. Austrade also offers developmental grants for emerging export businesses.
Researching the culture and business practices of the country you are planning to export to will be very important.