Looking for new markets for your small business? So,
consider one of the biggest growth areas today: foreign sales. About 80% of
small and medium-sized businesses selling worldwide say their income grew more
than a year ago, according to an American Express survey. The surveyed
companies claim that a quarter of their annual sales are from international
trade.
They are optimistic about the future. More than
three-quarters (76 percent) expect their international sales to grow by an
average of about 30 percent over the next five years. And about 40 percent plan
to increase their international sales efforts over the next six months.
The decision to launch a sale abroad may come as a result of
a well thought out strategy or just an unexpected opportunity. Whichever path
you choose, international sales are a wise step. Expanding your market globally
can help prevent your small business from falling during the tough economic
downturn, diversifying your business, and generating more sustainable income.
Are you interested in studying international business?
Here are four tips for success:
1. Coming home. More than four out of four American
Express surveys focus on their sales efforts in Mexico or Canada. Choosing a
geographically close international market has a similar cultural and business
environment, and a high percentage of English will facilitate your first
attempt at international business. Foreign sales to China or India, on the
other hand, are more complicated unless you have links to those countries.
2. Choose good business partners. It is important to
choose your sellers, partners and customers wisely when it comes to
international trade. Be sure to meet people who have a potential partner. Learn
the source, reputation, and credibility of any company you want to run a
business with. The right connection can change everything.
3. Educate yourself. Learn all about the market,
culture, customs and trade of the international markets where you want to
trade. You can get information online from networks and contacts, market
research and publications or websites that cover international business.
4. Get help. Entering the global market is much
easier if you have been helped.
The American Express Grow Global program provides networking
resources and opportunities for small and experienced international businesses.
Get help at Export.gov, which provides market research, tips
and tools for US exporters.
SCORE's business experts can help you determine if exports
are right for you, conduct market research and develop an international success
plan.
Alibaba is an international marketplace where you can find
world class and reliable business suppliers using their business guarantees.
If you interested to doing business in Sri Lanka, then – S
& F Consulting firm ltd provide legal service about company registration in
Sri Lanka for foreigner, accounting service.
To know more about- visit here
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