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48 BREWING BEVERAGE INDUSTRIES BUSINESS Exporting Are you ready to export BFBi CEO Ruth Evans MBE shares some strategy thoughts with UK brewers. Determine your products export potential Assess your companys export readiness Develop an export plan Develop a marketing plan Undertake robust marketing research Develop an export strategy Prepare your products for export The questionnaire below highlights characteristics common to successful exporters. Many of these questions will guide you to obtain more information on exporting. The relative number of Yes answers to No helps you to assess your export readiness as well as provide an identification of areas your business needs to strengthen to improve its export activities. Does your company have a product or service that has been successfully sold in the domestic market Does your company have or is your company preparing an international marketing plan with defined goals and strategies Does your company have sufficient production capacity that can be committed to the export market Does your company have the financial resources to actively support the marketing of your products in the targeted overseas markets Is your companys management committed to developing export markets and willing and able to dedicate staff time and resources to the process Is your company committed to providing the same level of service given to your domestic customers Does your company have adequate knowledge in modifying product packaging and ingredients to meet foreign import regulations and cultural preferences Does your company have adequate knowledge in shipping its product overseas such as identifying and selecting international freight forwarders and freight costing Does your company have adequate knowledge of export payment mechanisms such as developing and negotiating letters of credit l Identify your target markets l Explore your market l Understand the culture of your would-be markets l Choose a research method which suits your business needs l Assess the suitability of your goods and services for export l Analyse the benefits exporting could bring l Identify the possible pitfalls of exporting l Identify the resources you will need for trading abroad Assess Your Export Potential Research Export Markets Choose Your Market Route Plan Your Entry To Market Ensure you Get paid Know Your Legal Obligations Get Your products To Market l Consider how you will market your product or service overseas l Choose your foreign sales presence l Maintain regular contact with the agent and keep them informed of new product developments l Projected costs and revenues l Export pricing strategy l Legal requirements l Transportation methods l Foreign investment capabilities l Discuss your cash position with your bank before exporting l Minimise foreign currency risks l Explore ways of extending credit l Consider purchasing trade credit insurance to cover yourself against non-payment l Understandcomplete relevant paperwork l Comply with Value Added Tax VAT rules l Do you need an export licence l Do you understand labelling requirements l Identify the most suitable mode of transport for your goods l Freight forwarders can transport goods l Ensure your products transport packaging and labelling conforms to international requirements l Define responsibility for your products with your freight forwarder l Purchase cargo insurance to cover damage to goods or late or non-delivery For further information contact your local UKTI International Trade Advisor or BFBi. 48_Layout 1 21042016 1453 Page 1