Mike Josypenko, Director of Special Projects for the Institute of Export and expert contributor to Open to Export, shares his tips for getting started.
What should you consider when looking to start exporting? How do you export a product – is there an export procedure of sorts? And why export in the first place?
Exporting can increase levels of growth, productivity and provide greater economies of scale. As UKTI research has previously shown, companies which export typically see a 34 per cent increase of productivity in their first year of exporting and are 11 per cent more likely to survive.
Exporting can also enable the spreading of risk – in other words, if one market starts to see a downturn, other markets pick up the slack. Having an international presence can also add to the domestic credibility of a business, as well as extend the life of products, providing better return on research and development (R&D) investment.
In this section, you can read about other key considerations for you at this stage of your export journey, including:
- Assessing demand for your product or service
- Top tips and frequently asked questions, including currency, finance, distribution and customs
- I’ve got my first order. What do I do?
- Where can I go for more help or information?
Open to Export is here to take you on a journey through the various standards, compliance issues and thought processes that will make your export experience a good and profitable one.
We offer ideas and expert help along the way, together with current information on any new initiatives that will help your business to become the global business you want it to be.
Best of luck!