Think it’s time to bring your business to customers worldwide?
Here are seven steps you’ll need to think about before going global.
1. Register with UKTI
UK Trade & Investment (UKTI) is a government department set up to help UK businesses succeed abroad.
Register for free – and you’ll gain access to updates from around the world to suit your business.
2. Research foreign markets
If there’s demand for your products or services in the UK, there’s a good chance they’ll do well abroad.
Use the internet to research the market in the countries you are considering – trade websites like Alibaba are a good place to start.
3. Find out about competitors
A lack of competitors could mean one of two things. It could mean there’s a gap in the market – or it could mean that nobody’s interested in buying the goods and services you sell.
If products like yours are already on sale that could be a good sign – but it also means that your products needs a way to stand apart.
4. Discover your unique selling point (USP)
Does your product have a major advantage over similar ones on the market?
Unless you can prove your product has a significant advantage (usually lower price or higher quality) it’ll be hard getting anyone to try it – let alone switch to it permanently.
5. Consider product changes
It’s not likely that you’ll be able to sell your product internationally without making any changes.
To be successful in the international market, you’ll have to think about:
- Product design
- Voltage for electrical items
- Return policy
- Marketing materials in the language of your new market
- Company set-up
6. Work out the financial details
Websites like the Institute of Export will help you think about practical financial considerations, such as:
- Getting paid
- Your sales prices
- Local taxes and trade tariffs
- Trading in another currency
7. Pick your logistics
Once you’ve worked all that out, you’ll still need a way to get your goods to market.
If you’re selling through an agent or another party, you could ship goods in bulk.
If you’re sending customers their orders directly, the Post Office has a wide range of international services to help.
If it’s a non-urgent delivery, you might find that International Economy saves you a fair bit of money.
For sending out regular parcels, sign up for our Drop & Go Service – you can save a fair bit of time.