Ready to trade outside the UK?

Top tips from Enterprise Europe Network

1. Know your USP
Is there a demand for your product or service in the country you are targeting?

Who are your competitors in that market and what will give you an advantage?

What is your sales and marketing strategy and will that be suitable for your target market?

Will your product or service need to be adapted for other markets?

2.Time & Resources
What is the impact on your time and resources?

How will your local activities be affected?

How much time can you spend overseas?

Is there someone in your company to whom you can delegate the management of your new markets, and do they have the right skills?

3. Financial Strategy
Have you considered cash flow management? 

It will almost certainly take longer for payments to reach you once your goods have been shipped, or your service delivered

What about currency management? 

Are you ready to invoice in a foreign currency and with fluctuations in the exchange rate?

Remember there may be political and commercial risks when trading abroad.

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