Preparing to export
Export checklist: review your export readiness
You can use these points to help you decide whether you are ready to start exporting or what else you need to do to prepare.
Planning and strategy when exporting
- Do you have a well-defined export strategy and a thorough plan? How will you start exporting, and how will you develop your export business?
- Do you have the resources you need to carry out your plan, eg finances, personnel, production?
- How will you build your export skills?
- How much do you expect to invest, and what return do you expect?
- Are you committed to exporting? Have all the key people in your business agreed?
- Do you know what markets you will target?
- How much research have you done into your target market? Do you understand the business culture and legal environment? Read more about researching and entering overseas markets.
- What is the market for your product? Who are you competing against and what do they offer?
- Will your product need to be modified to meet local regulations or customer requirements?
- How will you position your product? What price will you charge? What currency will you price and sell your products in?
- How will you market and promote your product? What distribution channels will you use? Read our guide on selling and promotion overseas.
- What contracts will you aim to negotiate? What are your preferred Incoterms and will these suit your customers?
- What payment method and terms will you offer? Do you have the skills to handle any specialist methods such as letters of credit? Will you require a foreign currency bank account or accounting software that can handle foreign currency transactions?
- How will you transport your products? Will you use a freight forwarder? Read more about transporting your goods.
- Have you identified all the costs, such as transport, insurance, duties and taxes? Will your export business be profitable after taking these into account?
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