Travel is vital for businesses who want to export......
There are many different ways to visit a market place and they fall generally into three main types: Holidays, Individual business trips and structured purpose designed trade missions. It is important for business owners to understand that international business is not a rescue package. SMEs should have a successful and robust business model in the UK before thinking about doing business overseas.
Preparations for business trips and trade missions needs to start well in advance because much of the initial trip will be spent on information gathering. As they say in the military, Time spent on reconnaissance is seldom wasted.
And this is very much applicable to international business. Three months before you go, make sure you set out clear strategy detailing the WHO, WHAT, WHERE, WHY, WHEN and HOW of your visit. Business is rarely done on the initial trip unless deliberately orchestrated beforehand, so do not focus on coming back with business.
Use this first visit to concentrate on thoroughly researching the market and meeting potential clients, Agents and distributors.
It may seem obvious, yet you need also to make sure that you can actually sell your product or services in the market you are visiting. for example, Government regulation in various countries prohibit the sale of product like medicine or alcohol. be sure that you know who is attending the trip with you and make all necessary appointment vary widely depending on the country you are visiting. try to meet your bank before you go.
Business is about money and international business is no exception. Your financing needs will be different when you start trading internationally and you need to be sure you have the finance available to fulfill your international ambitions. Meet the appropriate international trade adviser as well as their connections and expertise are likely to prove valuable.
THINGS YOU NEED TO KNOW
Communication is the most important element of your success. make sure you are up to speed with communication channels in the market you are visiting.
check the market report for the country you are visiting:
This may provide vital information about how to do business in that market, and more important whether or not certain parts of the market are safe to visit.
CHECK CURRENCY RATE REGULARLY:
This is a business trip and you need to know what it will cost your business . this includes checking with your bank what the charges may be for current exchange.
CHECK THE CLIMATE CONDITION AND THE SHORT RANGE WEATHER FORECAST:
Turning up in the wrong can be uncomfortable, embarrassing or even in some cultures insulting. And do familiarize yourself with the significant cultural issues in your chosen market. Dont forget the influence of colors, body language, business etiquette, dress codes and the importance of learning a few words of the language even if its only to greet and compliment.
THINGS TO REMEMBER
Ensure you have a valid passport: Many countries will not let you enter unless your passport is valid for a period of six months after your return date.
VISAS: Find out what you need and make sure its valid for the correct length of time. in many markets you can simply have the visas stamped on entry, in some you cannot and will need to arrange a VISA sometimes weeks or even months in advance.
TICKETS: For flights and trains, bus trips and subways and remember to pre-book car hire if you need it.
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