Benefit of Exporting Goods

Any company or business that has invested in the import-export business has a lot to gain thereof. The import-export sector offers quite lucrative returns, especially given the advanced and expanded market reach. Exporting goods, in particular, is quite advantageous as it can give a business the necessary competitive advantage required to break even and gain a competitive edge in the market. Here is an overview of the various benefits of exporting goods.

Increasing Sales
Any time you talk about exporting goods into a foreign market, the prospects of making more sales is quite high. The diverse global markets available out there imply that such a business can land in viable leads, especially if the market is favorable. The high sales imply that the business will be able to generate more profits.

Exposure to New Concepts
When dealing with international markets, businesses also get an opportunity to understand the different dynamics of international trade, such as the pros and cons of the export business. The new markets out there give businesses an opportunity to leverage new concepts and technologies, which can easily increase production while decreasing the associated costs.

To be continued......

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It is better for Nigeria to Export than Import. If you import more than you export, more money is leaving the country than is coming in through export sales. On the other hand, the more a country exports, the more domestic economic activity is occurring. More exports means more production, jobs and revenue.

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Benefits of Exportation


Exposure to New Concepts

When dealing with international markets, businesses also get an opportunity to understand the different dynamics of international trade, such as the pros and cons of the export business. The new markets out there give businesses an opportunity to leverage new concepts and technologies, which can easily increase production while decreasing the associated costs.

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Better Competitive Advantage

Businesses dealing in exports in the market today are generally stronger, more reputable, and thus more stable when it comes to competition. Primarily, before qualifying to serve the overseas market with products, such businesses are required to demonstrate adherence to high standards of regulation and product quality. This gives the business better adaptation, both for the domestic and international markets.

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Better Adaptation

Businesses that have a grasp of the international markets through exports stand a better chance of adapting to the harsh economic times. The diverse markets available out there give such businesses an opportunity to gain from the advantages of exporting products. It also reduces the business’s vulnerability, where tough economic times in a given country, region, or market does not necessarily affect the company’s sales.

Diversification

Different international markets offer different opportunities to companies that have invested in the export business. The diverse markets out there have different levels of demand for specific products. For example, a company that invests in the manufacture of plastics can get expanded markets for different kinds of plastics in different parts of the world. This diversification rakes in more sales.

In the export business, it doesn’t matter if you are a newcomer testing international waters for the first time or an established exporter looking to grow your business abroad.

Your main challenge is always to find buyers for the goods or services you provide. Selling in an unknown country is never easy. There are physical distances, cultural differences and language barriers to consider, among other things.

Luckily, we live in a time where technological advances have shrunk our world and brought us closer. This means it’s easier to find foreign buyers for your export business today than it was, say, 20 years ago.

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Exporter advantages

While it will take some time, good market research gives you several great advantages in your further export process. The main benefits for you:
It helps you to identify your most promising market
It will include rich inputs for your export plan
It will give you full understanding of the competitive landscape of your target market
It will support you in minimising risks and maximising prospects.

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Exporter advantages

While it will take some time, good market research gives you several great advantages in your further export process. The main benefits for you:
It helps you to identify your most promising market
It will include rich inputs for your export plan
It will give you full understanding of the competitive landscape of your target market
It will support you in minimising risks and maximising prospects.

Five tips for exporters
It is wise to engage an experienced trade lawyer or expert in complex situations
Understand the market access conditions for your products
Protect your intellectual property (IP) rights, if you have one
Avoid trading on sanctioned / prohibited products
Check out information on frauds, scams and corrupt practices regularly

Export contract
An export contract is the agreement between an international buyer and seller.The exporter should be aware and attentive to details of the export contract documents agreed by both parties. International contracts can be complex. It is advised that you ask for advice on the legal implications by a professional.

To run a certain type of business, you need to know everything about its industry and how things work. If you lack a comprehensive understanding, success becomes hard as even convincing clients to work with you becomes difficult.

A challenge many exporters face is they have little knowledge of the workings of the export business. What they know are the basics of procuring and shipping, but as for every other thing in between from product inspection to securing the right cargo documents, insurance, payment security, the global industry, and much more, they have a faint idea, and as a result, international buyers usually back out from the conversations after they ask some questions and are not getting any credible answers.
Next week Monday, we will be having an Intensive Agro Export training through zoom covering the Challenges many Exporters face in exporting products abroad and ways through them. It's a two (2) weeks training program, 3 hrs 3 times weekly.

It is a good idea, the world is more open than ever before, trading or export business is booming. Small export business can be very lucrative if you are executing a great export business idea. Each of this could be your starting point for your own export business.

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Is Export business profitable?

It is a good idea, the world is more open than ever before, trading or export business is booming. Small export business can be very lucrative if you are executing a great export business idea. Each of this could be your starting point for your own export business.

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A challenge many exporters face is they have little knowledge of the workings of the export business. What they know are the basics of procuring and shipping, but as for every other thing in between from product inspection to securing the right cargo documents, insurance, payment security, the global industry, and much more, they have a faint idea, and as a result, international buyers usually back out from the conversations after they ask some questions and are not getting any credible answers.

Various agro commodities require various packaging standards. Some require they’re packed in cans, others in jute bags, some in mesh bags, and the vast majority in ppe bags.

Understanding the quality of goods you’re shipping and the packaging standards that are required is key to ensuring you don’t damage the goods with the way they are packaged and to ensure you also meet the packaging standards of the country you’re shipping too.

Exporter advantages
While it will take some time, good market research gives you several great advantages in your further export process. The main benefits for you:
It helps you to identify your most promising market
It will include rich inputs for your export plan
It will give you full understanding of the competitive landscape of your target market
It will support you in minimising risks and maximising prospects.

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It is better for Nigeria to Export than Import. If you import more than you export, more money is leaving the country than is coming in through export sales. On the other hand, the more a country exports, the more domestic economic activity is occurring. More exports means more production, jobs and revenue.

2 Hot-Selling Commodities That You Can Export To Make 100% Profit On Every Sale

Finding the right business to start up is one of the most difficult things many people have to face. The same applies to finding the right type of commodity to export.
The export business in its own right is a highly lucrative business to venture into, but determining the right type of commodity to export depending on the profit margins you’re targeting can sometimes be a problem.
While some exporters are okay with netting profit margins of between 10-30% per non-oil transactions, many others are uncomfortable with that, especially as an export cycle in a country like Nigeria is about 30 days, and so, would want to make the most of the time and possibly make up to or more than 100% profit on the commodity exported.
If you’re looking for high-margin commodities that can take your export business from 0 to 100% in 30 days.

Join us to learn of the 2 hot-selling commodities that you can export to make up to or more than 100% profits on every sale.

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So What Do You Do To Guarantee Payment From Your Export Transactions?

The most secure method to guarantee payment is usually to ensure the buyer issues an irrevocable and confirmed Letter of Credit. But when the company is very large and well known, they’d mostly refuse to do this as they expect their reputation to precede them, and besides, a lot of other companies supply them goods with the expectation of getting payments in 30 to 90 days after delivery.
If you’re stuck in this dilemma, what then do you do to guarantee your payment in a secure manner even when a signed contract is not enough?

The answer is Export Credit Insurance.