Doing Business Internationally
Published September 29th, 2008
When it comes to business and the market, many Americans operate under the illusion that the same rules apply to imports from other countries as apply within America itself; namely, grow your business and realize the American dream.
However, all business owners, and particularly those who are importing, have to remember that while the aspirations of the individual are important (if not central in an oblique way) to the well being of the United States, they do not come before the well being of the nation as a whole.
The Pearl of the Orient
So why is this important in... Read more
Tags: customs, Doing Business Internationally, how to, import, importing products, international business, japan, products, tips
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Going global is a huge step. It’s an important one in every business’s growth. Considering the fact that times are what they are, it could mean the survival of your business. So before you step off into the global market, consider the following factors Entrepreneur.com has put together as a sort of "Pre-Going-Global-Checklist":
Get company-wide commitment.
Define your business plan for accessing global markets.
Determine how much you can afford to invest in your international expansion efforts.
Plan at least a two-year lead-time for world market penetration.
Build a website and implement your international plan sensibly.
Pick a product or... Read more
Tags: Business, Doing Business Internationally, factors, global, Rebecca Button, tips
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Published April 30th, 2008
Expanding overseas is a common idea entrepreneurs have in their business plans as a "down the road" growth option but with the recession and subsequent weakening of the U.S. dollar, it might just be the key to keeping your business afloat. Many companies are able to sell their products for twice as much as they can here!
While opening a brick and mortar store is certainly optimal, if you are a small company who doesn’t think you can spare the capital to do so, don’t fret. Another perfectly viable option is to open an international website (ie. a .uk site).... Read more
Tags: Doing Business Internationally, economy, global business, international business, national retail federation, Rebecca Button, STORES Magazine
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Published February 19th, 2008
When you make your living off retail sales, you don’t want to turn away anyone who is poised to give you their money for your products. But there is one selling arena that can be little tricky - international sales.
Unfortunately, any number of seemingly perfect international sales opportunities could very well be scams in disguise. As you consider selling internationally, there are some precautions you need to take to make sure you don’t end up the next victim.
Where Do You Want To Sell?
While you may want to think the whole world is your oyster, there are some... Read more
Tags: Doing Business Internationally, global business, international payment, International shipping, Leeia Ladipoh, scams
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Published February 15th, 2008
Once you have decided to sell your company’s products overseas, it’s crucial that an export plan is developed. When preparing your export plan, you’ll be able to research and carefully examine your potential export markets, develop company goals, and determine what (if any) limitations exist. The result: a custom-designed strategy that prepares your company, products, and promotional efforts to succeed in the export business.
Tips for creating a successful export plan
Keep it brief - Your company’s export plan should be detailed, yet concise. It should be easily understood by other members of your company. It’s important that goals and... Read more
Tags: Carrie Hinkel, Doing Business Internationally, export, international business, selling internationally, tips
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Published February 15th, 2008
The Value-Added Tax (VAT) was created in the 1950s by French economist Maurice Laur. It is a government tax that is charged at each stage of production. For instance, when a company buys parts, then buys more parts - for each purchase, a separate VAT is paid. When a company exports into a VAT country, that company (or the company purchasing the products) must pay a VAT based on the value of the goods. There are nearly 140 countries that use the VAT system, with the average percentage being 15%, though it can go as high as 25% in Norway,... Read more
Tags: Carrie Hinkel, Doing Business Internationally, European Union, Finance and Accounting, taxes, VAT
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Published February 14th, 2008
With exporting, negotiations on financing terms can be just as arduous as those on pricing. With competitive products pouring in from companies all around the globe, the financing terms you offer can often times be the deciding factor on whether or not a buyer will make their purchase from you.
Of course, as an exporter you’ll want to get paid as quickly as possible; however, when dealing with foreign markets you’ll most likely have to extend your credit terms if you want to make a sale. If your products are shipping via container ship, there will be a 20-30 day... Read more
Tags: arranging credit, Carrie Hinkel, Doing Business Internationally, Finance, Finance and Accounting, foreign markets, international payment
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Published February 13th, 2008
In a rush to get their products selling in an overseas market, many business owners fall prey to one or more common "exporting pitfalls". It’s understandable that a business owner is excited about the possibilities that a new, wide-open market can bring to the company, but it’s important to remember that exporting involves big money and big risk. In order to give your business the best chance at a successful exporting experience, it’s crucial to take note of the most common mistakes made by new exporters.
Exporting mistakes to avoid
Choosing overseas partners too quickly - Many times a company... Read more
Tags: Carrie Hinkel, Doing Business Internationally, exporting, exporting pitfalls, marketing plans, selling overseas
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Published February 8th, 2008
For businesses interested in importing products, attending a trade show in China is the best place to start. You’ll have the opportunity to visit thousands of booths - meeting with suppliers, seeing and testing products, and talking to other buyers. You’ll feel a lot more comfortable with the importing process after attending a show, and chances are you’ll be ready to place your first purchase order with a Chinese manufacturer or trading company. To help ensure that your trip to China is a success, here are some tips to help you prepare for the visit:
Create a product binder -... Read more
Tags: Carrie Hinkel, china, Doing Business Internationally, importing products, source, Trade Shows
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Published February 4th, 2008
There are many resources available to help you gather information and market research and get your business ready to sell internationally. The U.S. Small Business Administration offers an International Marketing Plan workbook you can download and fill out. This workbook is an excellent resource to help you to prepare your business to enter the international marketplace and will take you through the steps of exporting.
Some Key Questions to Ask Yourself Before You
Begin Exporting Are:
* Should I expand my company through exporting?
* Do I have any products or services I can export?
* What is the cost... Read more
Tags: business resources, Doing Business Internationally, foreign market research, importing products, international trade administration, larry Slusser
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