5 essential tips to start exporting and boost your business globally

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In such a challenging time as the current global scenario, entering new markets and diversifying trade options can be a strategy that brings many positive results for your business. In other words, exporting should be part of the strategic planning for companies that wish to continue operating, even when the domestic market is on the low.

Exporting, especially for small and medium-sized entrepreneurs, is often seen as a challenge, primarily because many assume it’s a venture limited to large companies—when, in fact, that’s not the case. With proper planning, a solid understanding of the target consumer, and trustworthy partners like B2USA, smaller companies have a great chance of succeeding in export markets.

Companies that export enjoy several advantages, primarily because they are less affected by domestic market fluctuations and can benefit from special trade regimes that reduce costs, increasing the competitiveness of their products. Internationalizing a product and brand also elevates the business to another level, bringing global recognition and, ultimately, higher revenue.

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B2B Academy presents 5 tips to elevate your business and start exporting now without fear:

Strategic Planning

It’s essential for entrepreneurs to view exporting as part of their strategic planning. The company should analyze its production capacity and any necessary changes, making export planning part of its business culture.Internationalizing products requires following new rules, enhancing services, and defining an export strategy.

Understand International Trade Agreements

International agreements offer numerous advantages during an export process, making it essential to know which countries have these agreements when making business decisions.

The benefits associated with trade between countries with international agreements are advantageous for both importers and exporters. Agreements offer reduced or exempted import taxes for buyers, and for exporters, they broaden access to foreign markets, which can lead to increased overall revenue.

Although your country may have international agreements offering export advantages, many companies probably remain unaware and fail to incorporate these into their export planning, resulting in lower revenue compared to competitors who are familiar with these processes and export.

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Examples of trade agreements include those with the WTO, NAFTA, the EU, Mercosul, and many others with countries and trade blocs around the world.

Manage Decision-Making

For sound decision-making, a company must have accurate information and use it throughout the planning process. External requirements, standards, documents, taxes, and all essential data incorporated into government systems should be well-known.

In the United States, for example, these processes are largely automated, and data must be consistent and presented correctly to avoid penalties under the Foreign Corrupt Practices Act (FCPA).

It’s essential that data from suppliers and partners are correctly aligned with these requirements, to avoid any risk of legal or reputational damage.Several tools are available in the market to assess the reputation of business partners based on relevant, high-quality information before closing deals.

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Special Customs Regimes

Special customs regimes cover all import and export processes, allowing companies to increase product competitiveness through exemptions or reductions on customs duties in compliance with foreign trade rules.

Common programs include Duty Drawback, Foreign-Trade Zones (FTZs), and Temporary Importation under Bond (TIB). Each program has specific benefits that can improve competitiveness during the export process. Don't forget to check your country's programs!

Legal and Regulatory Compliance

Staying up-to-date on legal and regulatory compliance is crucial, as changes frequently occur that can impact exports—bringing new advantages or requiring changes in planning for certain deals.

Outsourcing this service can be a wise decision, ensuring that the contracted company is informed about regulatory updates and maintains total security and reliability for its partners.

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