How to Assess the Risk of Exports to a New Market

How to Assess the Risk of Exports to a New Market

Whitney - September 04, 2017

As entering new markets is deemed as a way of increasing volume of sales and boosting of profits, it is also worth noting that it could be accompanied by a lot of risks that might precipitate losses and failures. Prior to exporting goods to new markets, it is good to ensure that you examine the market, identify the risks and come up with ways that will help you overcome the challenges. It is normally hard at first, but once you put forth effective measures to deal with the challenges, it will be easy for you to conquer the market and boost your profits. Companies shipping parcel to Australia from UK have bettered their shipping mechanisms to an extent goods are quickly and safely delivered to consumers.

Identify Any Destination Risk

As you are shipping products from your country to other countries, it is good to know the kind of shipments that are authorised in those countries you want to export products to. Sanctions are imposed to people who import unacceptable cargo so you must enquire before you export products to any country. Courier service providers like DHL provide shipment services to over 200 countries so it can help any trader in knowing the import protocols of that country so as to do the right thing. For example, Parcel to Australia from UK service providers are there to ensure that traders export their goods without breaking any international trading rules.

Check If There Are Any Product Requirements

In some countries, products must be licensed for them to be accepted there. As an exporter, make sure that you do what is required to avoid your product from being deported back to your home country. DHL can help you understand all this information so that you do the appropriate thing and export goods as required. You must also be keen to identify customer risk during the exportation process. Shipping products directly to customers has no worries but when you are shipping to a forwarder then take the product to the customer, you should be more careful to prevent the product from getting lost or damaged. This is why you should utilise the tracking system where all shipped products are monitored remotely to see if they reached the required destination or not. As exporter, your aim should be time and safety delivery of goods to your clients.

The bottom line is that you should learn all potential risks and importation laws of the country to which you want to export goods to avoid problems. Some countries require goods to undergo extensive modifications so as to meet their state laws for them to be allowed in the country. An example is when you are importing used vehicles; they should be serviced to meet the required standards for them to be allowed. If you export goods without considering the country’s regulations, your goods might end being fined and get deported back to where they have come from which will be a big loss for you. It will be easy for you to get Export Licenses and Documentation if comply with all the export regulations needed.

 

Independent Reviews

Courierpoint.com is rated 9.4 out of 10 from 1628 reviews