Published on July 10th, 2014 | by Sally Wenham
It’s Time To Embrace Global Export Opportunities
Successfully exporting on a global scale is not something that can be achieved without a thorough knowledge of the process involved as well as the different rules and regulations which exist in different countries.
And with the Confederation of British Industry (CBI) recently stating that businesses are 11% more likely to survive if they export goods than those that don’t embrace the worldwide marketplace, adopting the right approach is critical. Furthermore, an even more compelling reason to export for SME’s is that businesses in their infancy are 34% more productive than their counterparts who only have interests within the UK.
The internet offers huge potential to reach out to global markets instantaneously and e-commerce is booming. Furthermore we learn that the UK has become the second-most popular shopping destination for five key markets around the globe – China, Germany, US, Australia and Brazil.
Perhaps the most stark statistic we can find that makes exporting a compelling proposition for SME’s is the fact that the UK only accounts for 0.8% of the global population, so by not exporting, a business is missing out on 99.2% of the population around the world!
To ensure products are exported as efficiently as possible to all four corners of the globe it is vital to appreciate that the customs procedures between different countries tend to vary considerably – in Europe let alone the rest of the world!
As a rule of thumb we learn that there is often considerable red tape in many countries overseas encompassing processing of items on a time consuming shipment by shipment basis as well as more physical inspections. This is in stark contrast to the automation approach which often applies within the UK, USA and some parts of the EU.
Having understood that there will be custom related obstacles to overcome, ensuring each shipment has fully descriptive information including certificates and licenses is crucial. Gaining an appreciation of the relevant export markets, either in person or via a third party can be invaluable. Considering the wealth of information and the significant variations which can exist between one country and another, it is prudent to therefore concentrate on only a handful of different markets initially.
After all these considerations have been addressed the final stage in the export process will be to account for the packaging and mailing necessities and then select the most appropriate integrator who has the relevant customs expertise and specialized knowledge required.