New To Exporting? 4 Tips To Start An Export Businesses

In looking for ways to grow your business, foreign markets may offer opportunities that domestic markets do not.

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Finance your overseas expansion.

As you cannot simply copy paste your domestic strategy. You will likely need more capital to execute your export initiatives. For small businesses, this can be a tough call, since the risk associated with expanding to a foreign market might deter capital providers. In some cases, your government can help you out by offering loans; for example in the U.S. you should consider SBA small business loans.

In general, there are two ways to secure capital: trade financing and working capital financing. With the latter, small business can establish long-term development, while trade financing is mostly aimed at financing a specific event or business transaction.

As an EU-based business, exporting to another EU business is probably easier; the same holds for US businesses and transactions in the region. But, remember to keep your mind open.

Think outside of the box. While emerging, less common countries, might not seem attractive to you now, they might open many doors for you in future. Think of the competitive advantage you can gain by entering a market your competitors are not yet exploring.

At Equidam, we aim to help small business develop and flourish. Expanding your services to a foreign market can be a perfect way to achieve business growth. Nonetheless, don’t forget to monitor you business performance once you’ve settled in a new country. Equidam helps you keep track of your business and tells you where to improve so you can focus on what matters to you: taking your business to the next level.

 

This article has been edited and condensed.

Daisy de Vries is the Marketing & Communication manager at Equidam, an online value management tool for small businesses. Her passions are startups, writing and technologies. Keep investors up-to-date in a consistent and efficient way with the Equidam valuation report. The report gives a clear overview of the performance of your company and enables you and your capital providers to understand and manage the value of your business. Connect with @equidamtweets on Twitter.

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