International trade is a not without risk, but all risks can be mitigated. Export Angels can help you understand these risks enabling you to make decisions regarding level of risk your company is prepared to take, and tactics to eliminate risks.
Using insurance – most risks can be insured against, which means you can rest assured however, insurance always comes at a price, and this is where we can help you understand, and identify, which need to be insured, and which can be managed through adherence to regulations or standards. As with all insurance they are specific to the needs i.e., product liability is important when manufacturing goods, but professional indemnity is important if you provide a service or offer advice. Cargo insurance offers you security of passage, but you may need to cover the time from your warehouse to the aircraft or vessel. You can rest assured that Export-Angels will help you identify what you need in an unbiased way – we’re not insurance brokers but we want you to find the best solutions for your business.
Sending your goods by airfreight, or courier is easier in some ways, but more expensive. If you’re selling to the B2C in which case this can work better, again this is part of the implementation plan we can help you with.
Regulatory compliance – each market has a set of standards and regulations that determine how products are packaged and marked. This demonstrates to the authorities your commitment to compliance and working to the standards outlined in both Free Trade Agreements and internal legislation. This will also help you to understand the level of paperwork and complexity in taking your goods to market. Export Angels will be able to create a dossier of all the customs paperwork that will be needed to comply with the world customs organization and any Trade Agreements you may be working with specific to your new market. We won’t leave you wondering how you’re going to operate or what your next step is.
Logistics of delivery and final mile options, what type of routing your delivery may need. Sending your goods by sea may offer you security in terms of packing and in some cases refrigeration, and containerization. Although sending your goods by sea may be slower, we can help you with the planning process. There is one other factor that makes sea a good solution, a bill of lading (certificate of shipment) is a document of title and will help ensure you get paid. In terms of the ‘final mile’ delivery option ie the last part of getting the goods to your customer there are many ways of handling this in your new market. We can advise you on this as you get closer to your first sale.
These decisions and the risks you may take are all part of the overall package of implementation that we will produce once the strategy and initial market is agreed.