2. Exporting and importing

Exporting can boost your turnover and reduce your dependence on UK-based customers. Moving into export is a big step - it’s important you consider whether your business is ready for the challenge.

This briefing tells you how to prepare for successful exporting. It covers:

• Assessing your export potential.
• Market research: finding out about your would-be markets.
• Selling, distributing and transporting your exports.
• Sorting out the paperwork and legalities.

It’s essential to carry out thorough research before you start exporting. It will help prevent costly mistakes, boost your chances of choosing the right market and show you how to sell your products and services in that market.

This briefing is aimed at any business considering exporting for the first-time or about to move into new markets. It will help you:

• Identify potential markets.
• Research the demand for your product or service.
• Decide whether to do your own research or employ a research agency.
• Find out if you are eligible for help with your research costs.

More, longer, riskier

Exporting tends to be financially more demanding than selling within the UK. Consignments are usually larger, the lead times are longer, and the risks are more difficult to control.

Negotiating the terms of an export sale is a matter of balancing the risks and the costs to you and your customer. At the same time, you may need to take into account the problems of handling payment in foreign currencies.

This briefing focuses on:

• Negotiating the payment method.
• Choosing the right financing option.
• Dealing with foreign currencies.

Getting it home

Many businesses find that importing requires greater financial flexibility and reserves than buying from a UK supplier. Rather than buying on credit, you often need to commit finance well in advance of taking delivery.

Negotiating the right agreement with your supplier can minimise the cost and effort involved.

This briefing covers:

• The key factors to consider when negotiating with your supplier.
• Terms of delivery.
• Payment methods and financing options.
• Handling duty and VAT.
• Making payment.