Join | Sign In
Assessing Risk in Export Markets
264 views
0 comm

Assessing Risk in Export Markets

If you are trying to export in Ghana, there are certain rules, technicalities, and other requirements you must be aware of. Take a look at these must-know tips we have organized for you down below.

Get Connected

Just like every other business, you need to begin by establishing demand. This starts by finding buyers that are willing to pay money overseas for the products you offer. If you are lucky, an international distributor may purchase your goods at a good discount and distribute them abroad. This will spare you all the sales legwork but give you enough profit to enlarge your clientele. You can also consider partnerships and joint ventures with foreign entities. Always remember to assess all the associated risks regardless of the method you choose to get connected.

Advertise, Advertise, Advertise!

Marketing is now very democratized. You have several options to choose from, and you should not disregard any. You can try digital marketing or even place ads in trade magazines and other outlets with international reach. You want to spread the word about your business and the products you have to offer to the global market.

It is not unusual for global distributors, suppliers, and businesses to reach out to you through a strategically-placed advertisement. You can even have them appear during trade fairs and other international trade exhibitions where foreign buyers will be present.

EXIMA

Always Research Beforehand

Selling export goods through a foreign investor will make things easier for your business for sure, but you’ll have to prepare yourself to miss out on other profit opportunities. In some cases, it may be better to sell your exported goods directly to foreign consumers.

However, there are several challenges you’ll have to overcome. These could either be language barriers, taxes, extra marketing costs, or other regulations of trading directly with consumers abroad. Each time you enter a new country, you’ll have to surmount these difficulties before you can make any significant profits.

Hence, you’ll have to thoroughly research each market and ensure you’re using the best strategy to meet each need. Beyond this, you also want to maximize profits by making sound financial decisions that cut down the costs of exporting in Ghana to foreign buyers.

What’s Next?

Once you have familiarized yourself with our tips and figured out the different conditions you need to satisfy to begin exporting into a particular market, you can replicate your success by applying your experience to other economies in the international market. Remember, it’s best to start with countries with similar characteristics.

EXIMA is Here to Help!

If you have any questions about international trade or are just looking to build some connections with trade experts, make sure to check out our site!

You may also like

Aug 11
2021
Most to Least Secure Methods of Payment in International Trade
Most to Least Secure Methods of Payment in International Trade

Are you a seller or buyer experiencing problems with payment? Then come check out our article to learn more about some of...

Staff
Comments (0)
Sep 09
2020
Currency Exchange Services: Benefits for Exporters and Importers
Currency Exchange Services: Benefits for Exporters and Importers

Interested in learning about the benefits of currency exchange services? Read our blog to find out how these services can...

Staff
Comments (0)
This website uses cookies. By using this website, you consent to our use of these cookies