Getting ready to go Global
The decision to extend sales overseas is a logical and natural progression for many. The ECA’s International Business 101 toolkit provides you with a series of case studies to highlight not only the benefits of going global, but also some of the tricks of the trade these companies learned when they started on their overseas journey.
The motivation to grow your business internationally can be triggered by an unsolicited request from an overseas company for a particular product/service, or the motivation could be the result of a considered decision by the company to develop additional sales growth opportunities and profits through entering an international market.
Irrespective of whether the motivation is based on the “pull” of an enquiry or the “push” of an initiative to develop international sales, the first step should be to realistically review the resources available to develop and support international activity.
The ECA has long supported the international development of companies by helping them to successfully prepare themselves for overseas growth. Along the way we have identified the key issues that companies often face, including:
- Management commitment and resources
- International experience and/or the ability to tap into international management experience
- Financial resources to support new international expenses and a longer payback period
- Resources to research international market prospects and to develop an international business plan
- International product/services costings
- New payment arrangements and currency decisions
- Probable product and label modifications
- Production options to produce for an international market
- New logistical arrangements to transport to an international market
- Export insurance and credit insurance checks
- Intellectual property protection
- Communication facilities such as internet, email, teleconferencing
- Market entry options and office set-up requirements in a new country
- A budget for international marketing and promotional costs, etc.
Whilst this might seem like rather a formidable list, I can reassure you that even by visiting the ECA’s website you have taken the first step in understanding what is required for you and your business to embark on the exciting journey of going global!
There is plenty of assistance out there to help you navigate your way through the process.
The team at the ECA is passionate about assisting companies to become global ready and our aim is to provide you with the resources and tools required
to be successful in this field. Whether you’re new to international business, need to refresh your knowledge or up skill your team, we look
forward to working with you.
Dee-Ann Prather, Down Under Enterprises International
NSW Women in Global Business Award winner
Member of the ECA
“90% of our business is export based and we are expanding rapidly throughout Asia. As we move into new countries and regions it is important to understand the country, culture and business norms and ECA has helped us do this through their programs. ECA has also helped us improve our shipping and documentation efficiency, especially with the new GHS requirements. Overall, ECA is a wealth of information and knowledge and have always been very helpful when we have specific issues or questions.”Become a Member
Nuix is the 2015 Premier's NSW Exporter of the Year. As a technology company that protects, informs and empowers society. Nuix has more than 1,500 customers in over 60 countries, including all major global regulatory agencies, leading security and law enforcement agencies, all tier one advisory and litigation support vendors, and many of the world's leading financial institutions, corporations and government departments.