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, be assured 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.

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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. 

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