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Export Readiness
Let’s learn about Export Readiness. The demands of the export process can place a strain on small exporters who are not willing to make the necessary investments in product adaptation, market promotion, follow up and creation of strategic alliances which are required to sustain initial success in market penetration. If possible, before entering into export arrangements in new markets, the company should conduct a self-evaluation exercise to determine its export goals and the necessary investments which are likely to be required to achieve them. Major evaluation areas include
- Motivational Factors: why does my company want to export and what objectives will be achieved?
- Organizational Factors: Is my company sufficiently organized to commit to sustainable export?
- Market considerations: Does my business have what it takes to succeed in regional/ international markets?
- Product considerations: Is my product sufficiently developed to be well received
Exporting, because of its global nature, is often seen as being quite glamorous. Also, because of the apparent size of the global market, some companies may think that entering export markets must be very easy. For these and other reasons, many companies turn to exports as a means of salvation from small and highly competitive local markets. These are the worst reasons for exporting.
Exporting is a complex, time consuming and very difficult endeavour. It should only be attempted by companies that have the resources to tackle these foreign opportunities – exporting is unfortunately not for everyone.
