Why Export?
- To diversify markets and reduce risk
- To expand sources of revenue
- To enhance competitiveness through product improvement and economies of scale.
Are You Ready?
Before venturing into export markets, companies should consider:
Production Resources
- Secured sufficient raw materials
- Able to expand production capacity
- Multi skills and multi-lingual work force
- Able and manage original equipment manufacturer (OEM) production and/or Original Brand Manufacturer (OBM)
- Ability to cater for export demand
- Adequate supply of raw materials
Financial Resources
Internal
- Sufficient cash flow to sustain the export business (at least 3 months)
- Strong financial standing
- Strong financial support from banks and financial institutions
External
- Access to government financial incentives
- Commercial banks
- Deal effectively with different monetary systems
Human Resources
- Availibility of local staff
- Knowledgeable and experiences export staff
- Dependence on foreign staff
- Requiremnet of foreign expert/skilled workers
Marketing Resources
- Sufficient marketing collaterals that meet international standards
- Able to sell direct to buyers/importers either through personal contacts or appointed agents
- Work with buying houses, procurement agents and representative offices
- Knowledge in market entry requirements and market needs
Legal Resources
- Comply with international legal requirements
- Protection on intellectual Property Rights
- Understanding of Free Trade Agreements (FTA)
