Exporting: an Overseas Business Opportunity
A Home Business Article Contributed by Cassandra L. Keller
Exporting: the Overseas Business Opportunity
Did you know that only a small percentage of potential exporters in the United States take advantage of the business opportunity that can be found in exporting goods oversees? A crucial factor in promoting strong economic health in America, exporting can mean the increase in business and jobs.
Is the Exporting Business Opportunity for You?
Other countries are doing, and possibly even ventures similar to yours, so why aren't you? Exporting can not only mean growth in your business, it can also mean keeping up the competitive oversees businesses exporting to the U.S. and into your market. Why not take advantage of an international business opportunity?
The question you need to be asking yourself is can you ignore the ever blurring line between domestic and international markets and how it affects your business? Are you keeping up with the competition?
The Advantages and Disadvantages of the Exporting Business Opportunity
On the positive side, exporting can enhance domestic competitiveness and increase sales and profits. It may reduce dependence on existing markets and exploit corporate technology and know-how. Exporting also allows your business to gain global market share and extends the sales potential of existing products. Depending on your business, exporting would allow you to sell excess production and enhance potential for corporate expansion. It also stabilizes season market fluctuations and helps you to fain information about foreign competition.
On the other hand, you may be required to develop new promotional material, wait longer for payments, modify your product or packaging and apply for additional financing when embarking on this international business opportunity. You will also possibly be required to incur added administrative costs, allocate personnel for travel, and obtain a special export license.
Developing a Business Plan for Your Exporting Business Opportunity
If after weighing to odds on an exporting business opportunity, you decided an oversees venture is a move you want to take, you will need a business plan.
An international business plan for this opportunity can be formal or informal. Regardless, you will need one for the businesses management, because it will properly identify the company's exporting venture for it to follow.
If you intend on seeking financing for this business opportunity. You will need a business plan to present when requesting and export loan from a bank.
Also, an international business plan, when complete, will assist you in anticipating future goals. It will reveal constraints, facts and create an action statement, as well as major compony objectives, a specific time line with milestones to assist you in achieving success.
When complete, an international business plan should relay the businesses commitment to international trade, its reason for exporting and pricing commitment, potential export markets and customers and methods of foreign market entry.
The plan should also note any legal requirements that come with entering the an exporting business opportunity, as well as exporting costs and projected revenues. It should define export financing alternatives, transportation methods and overseas partnership and foreign investment capabilities, all of which are key to your success.
