Any entry into a new target market requires thorough preparation on the part of the exporter. Therefore, a fundamental building block for success is the development of an export business plan, which enables the identification of specific objectives and strategies. <\/p>\n\n
In today’s episode of the series I Want to be an Exporter, which HN is preparing in cooperation with Eximbank, we will look at what we should definitely not forget when drawing up this plan.<\/p>\n\n
Internal audit<\/strong><\/p>\n\n Before starting to export, each company interested in a given market should make an analysis of the economic situation and assess its export readiness. All export management issues need to be considered, as well as what capacity and resources are needed to enter foreign markets. <\/p>\n\n A key role here is played by the so-called internal audit, which focuses on the analysis of the product to be exported. It is essential to check whether the company has the necessary export licence, sufficient production capacity, as well as the conformity of the product with standards and certifications in the country of destination. The company should also not neglect the possibilities of packaging and labelling the products in the language of the destination country and the associated additional costs. <\/p>\n\n Internal audit should continue to focus on human resources. Responsibility for the implementation of exports should be defined within internal teams or external partners. This implies the use of a distributor, intermediary, lawyer or customs declarant and the associated additional costs. It is also essential to focus on financing – identifying sources within the company and potential sources outside the company. <\/p>\n\n Find a market and a buyer<\/strong><\/p>\n\n In order to effectively decide whether a company is ready to start exporting, or what it needs to do to prepare for and then implement it, it is advisable to draw up a so-called export checklist. This includes several steps. <\/p>\n\n The first is to find a market and a buyer. First of all, it is necessary to choose a suitable export market, assess the commercial potential and the competitiveness of the product and include the costs of export in the plan. This includes transport or the possible need for intermediaries. Next, the exporter must identify potential buyers and identify a partner to support export or import formalities. <\/p>\n\n Step number two is to verify the export conditions in the EU and the requirements in the target market. At this point, it is necessary to identify the legal requirements for export and to obtain the EORI, i.e. the economic operator identification number. “The exporter must also verify the EU’s trade agreement with the country in question and register in the REX system when taking advantage of preferential tariffs,” explains Andrej Racko of Eximbank’s Insurance marketable risk department. <\/p>\n\n The company should also remember to consider export restrictions in the European Union as well as import or other restrictions in the country of destination. It is also definitely worth the effort to investigate taxes and additional duties in the destination market or to verify the need for a tax identification number when selling to consumers. <\/p>\n\n The next step is to identify the health, safety and technical requirements, review the certification and required documentation, as well as checking the packaging and labelling rules. Finally, it is recommended to verify the need for intellectual property protection of the exported product. <\/p>\n\n Preparation of the sale and contract<\/strong><\/p>\n\n If you have all of this done, then step number three is preparing the sale and shipping. The first task is to verify the creditworthiness of the trading partner, conclude a contract with the buyer, define the responsibility for transport and choose the Incoterms delivery clause. <\/p>\n\n It is also important to consider the insurance of the goods in transit and to choose both export financing and appropriate payment terms – based on the riskiness of the country as well as the reliability and creditworthiness of the trading partner. It is also necessary to identify the institutions involved in export promotion. Finally, the fifth and final step is import customs clearance in the destination country. At this stage, responsibility for documents, import procedures in the country of destination, duties and taxes need to be agreed. It is advisable to assume only those responsibilities that can realistically be met. <\/p>\n\n Author Pavel Novotn\u00fd<\/p>\n\n Source.<\/p>\n","protected":false},"excerpt":{"rendered":" Any entry into a new target market requires thorough preparation on the part of the exporter. Therefore, a fundamental building block for success is the development of an export business plan, which enables the identification of specific objectives and strategies. We will take a look at what should definitely not be forgotten when drawing up this plan in the next part of the series I want to be an exporter, prepared by HN in cooperation with Eximbank. <\/p>\n","protected":false},"author":20,"featured_media":39523,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[171],"tags":[],"class_list":["post-39525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/posts\/39525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/comments?post=39525"}],"version-history":[{"count":1,"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/posts\/39525\/revisions"}],"predecessor-version":[{"id":39526,"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/posts\/39525\/revisions\/39526"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/media\/39523"}],"wp:attachment":[{"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/media?parent=39525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/categories?post=39525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eximbanka.sk\/en\/wp-json\/wp\/v2\/tags?post=39525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}