Step four: making it happen

The far horizon
The far horizon

When you've assessed your readiness for export, researched the international markets with the biggest opportunities, prepared yourself and your employees through training and built local market relationships, it’s time to make your export business happen…

It’s important to explore potential avenues for export finance, as well as the practical aspects of important considerations around payment methods and foreign currency exchange. It’s also vital to make sure that there is increased working capital available when expanding into new markets, to accommodate the longer payment times, shipping costs and general scaling up of the business.

There's a wide range of finance tailored for exporters, including export credit insurance and foreign currency services, so it's worth speaking to several lenders to compare rates and charges and to make sure that it covers your specific products.

Shipping your products, and even providing services, can be a complex process – something as small as getting the paperwork wrong can lead to delays and, potentially, lost business.

It's important to make sure that you are aware of which customs documentation is necessary for the region you're exporting to and how to complete it correctly.

In tomorrow’s instalment of our Far Horizon series, we take a look at step five: planning for the future…