This is where export finance comes in.
Export finance helps businesses release
working capital from cross-border or
domestic trade transactions that would
otherwise be tied-up in invoices
or purchase orders (for up to 180 days).
Some export finance instruments include:
letters of credit, bills for collections,
telegraphic transfer, bills of exchange
among others.
Finding finance for your export operations
can be quite complex and challenging.
IEOM Members get access to the very best
advice when it comes to seeking financing
for export operations. We advise members
on the best banks to deal with as regards
export and international business because
we evaluate and work with banks to
improve their export capabilities.
It’s easy to become a m ember of the
institute and the benefits are many. You
can find out more on our website.
10 Questions to
answer when
formulating your
export plan for your
target market
Successful exporting requires the resources
and commitment to deliver your products
and services internationally at a
competitive price.
A key part of that is gaining a deep
understanding of your target market and
where your product fits into that market.
Developing an export plan will help you
clear up all doubts and leave you with a
better understanding of how to achieve
your business goals.
We’ve included here a list of 10 questions
you need to answer clearly as you create
your export plan.
1.
Which products are selected for export
development, and what modifications, if any, must
be made to adapt them for overseas markets?
2. Is an export license needed?
3. Which countries are targeted for sales
development?
4. What are the basic customer profiles, and what
marketing and distribution channels should be used
to reach customers?
5. What are the special challenges (for example,
competition, cultural differences, and import and
export controls), and the strategy to address
them?
6. How will your product’s export sales price be
determined?
7. What specific operational steps must be taken and
when?
8. What will be the time frame for implementing each
element of the plan?
9. What personnel and company resources will be
dedicated to exporting?
10. What will be the cost in time and money for each
element?
31 The Export Brief | MAY 2018 | IEOM-NG.ORG