Why should small businesses import and export?
With markets becoming increasingly fragmented and open to the world, start-ups and small businesses must be able to operate globally in order to meet their clients’ demands. Quite often, going global means it’s time to start importing and exporting.
Industry trends throughout Europe are all pointing towards the success of exports. In 2019, the European construction equipment market size is set to hit a five year high as more and more emerging markets come into play. As these markets begin to emerge, customers with larger amounts of disposable income will drive demand for larger developments and more infrastructure. The construction equipment industry isn’t alone either; MMH reports that the global forklift industry is set to rise by almost 7% to $55.9 billion by 2021. Elsewhere the textiles industry is also set to rise almost 14% by 2020 thanks to the increasing demand in emerging economies.
Exporting in particular can make a huge difference to SMEs. Many small companies tend to be heavily reliant on just a few clients. However, if you set your sights on developing new business relationships and exporting, you will be able to significantly expand your markets and create a more stable business. Not only will you gain new markets and more stability, but by ramping up your production, you could benefit from better margins and bigger economies and scale.
Of course, choosing to export is a big decision for any business. We previously looked at some of the main concerns facing business owners when it comes to exporting, but as we will demonstrate, the risks surrounding exporting are perceived rather than real. Whether it’s fears about losing control of your products in different markets, or concerns over shifting the focus away from your existing customers, fears can be mitigated by taking the right approach and asking the right questions. Before too long, you can have a strategy in place that enables you to export on a small budget, and one that will completely transform your business.
In this e-book, we’ll show you just how much of a difference exports and imports can make. You’ll learn how to identify key markets and how to ask the right questions as well as how to effectively promote your business to increase your visibility.
4How to promote your company abroad without breaking the bank
The tips and advice in this e-book will give you the tools you need to effectively create an export and promotion plan that will enable you to take your business to the next level.
For more information, please see the document attached.