There are many complex aspects involved in entering international trade and one should master them before taking the plunge into the global marketplace. Small, medium and micro enterprises (SMMEs) need to be particularly cautious in their approach to expansion. If the foray into import/export is undertaken at the wrong stage of the SMME's development, the results could be devastating.
With such high payoffs and substantial risks, it is crucial for SMMEs to gain a comprehensive understanding of import and export management before entering the process.
Here are some of the many considerations that SMMEs need to review:
There are a great many more considerations for the potential exporter. While this may seem daunting, the benefits of expansion into exporting are well worth it.
Minimise the risk of entering the export process by learning more about it and how it applies to your business. A solid understanding of the basic risks and considerations of exporting and importing will go a long way in ensuring the successful conversion from a local enterprise to a global supplier.