Internationalisation is an excellent opportunity for the expansion and globalisation of your business. While on the one hand it may seem like a distant goal with inherent risks, on the other it can be an exciting and rewarding investment. So don’t give up before you start!
Did you know that more than FOUR THOUSAND companies started exporting in 2022 alone? Spain, France and the UK were the main export destinations!
Wondering where to start? In this article, we share some of the key tips for a successful internationalisation.
1. Research and Analyze External Markets
Based on the sector you work in, it is important to know the main export markets, identify qualified potential buyers and draw up a plan to develop your business.
2.Identify the Competition
Find out how your competitors operate and market their products in your target country.
3. Evaluate the potential of the business and the competitiveness of the product
Identify all costs associated with exporting, such as customs duties, transport costs, agent costs, etc.
4. Identify a partner to assist with export formalities
Prepare contracts, establish payment terms, consult trade agreements, duties and taxes, identify destination country restrictions and define seller/buyer responsibilities.
5. Sale preparation and shipping
Sign the agreement with the buyer, specifying who is responsible for what in organising customs clearance and paying taxes and duties. Make sure you are aware of the costs involved in each market, so that you do not get an unpleasant surprise and what appeared to be a profitable deal turns out to be a loss-making one.
Start internationalising your business with Olicargo:
Developing new markets
Scale your business to the next level
Attract new customers
Implement new partnerships
Increase the level of know-how
Is your product Differentiated? Competitive? These are some of the precursors to exploring new markets outside Portugal. At Olicargo, you will find an experienced team with the knowledge you need to start a new chapter in your business. Get in touch with us today!
Sources:
DHL. (2022). Tudo Sobre Documentação Para a Alfândega na Exportação. Consultado a 28 de julho de 2023, em: https://dhlexpress.pt/blog/tudo-sobre-documentacao-alfandega-exportacao/?utm_term=News+n%3F%3F%3F%3F240&utm_campaign=Camara+de+Comercio+e+Industria+Portuguesa&utm_source=e-goi&utm_medium=email&eg_sub=7ea3e3d29b&eg_cam=fa6ca9a47e0ef735e17ae5fbcd2092e9&eg_list=25
Internacionalização. (s.d). Investir em Portugal. Consultado a 28 de julho de 2023, em: https://eportugal.gov.pt/inicio/espaco-empresa/internacionalizacao
AICEP Portugal Global. (s.d). Como Começar a Exportar Passo a Passo. Consultado a 28 de julho de 2023, em: https://www.portugalexporta.pt/noticias/como-comecar-exportar
Acess2Markets. (s.d). Guia Para a Exportação de Mercadorias. Consultado a 28 de julho de 2023, em: https://trade.ec.europa.eu/access-to-markets/pt/content/guia-para-exportacao-de-mercadorias
