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Know When Your Business Is Ready To Export

Know When Your Business Is Ready To Export

(NC) Are you thinking of exporting? Make sure you have the right plan in place.

Here are the top three questions to ask yourself:

1. Does your company have the capacity to handle extra demand?

Before creating relationships with overseas buyers, it’s recommended that you develop a systematic means of responding to customer inquiries here at home. You will also need culturally sensitive marketing skills, ways of handling language barriers and an understanding of different financial systems.

2. Have you researched your target market to determine if you can compete?

Researching your market before committing to exporting helps you understand whether or not you have the resources to meet international demands without sacrificing your domestic business.

3. Do you have enough funding to produce your product and ship it overseas in a reasonable timeframe?

Increased logistics, currency exchange, overseas shipping and tariffs all contribute to the cost and the time it will take to get your product to an international client. Ensure you plan and budget accordingly to minimize the financial strain on your business.

There are government services that can help you along the way. Visit www.canadabusiness.ca or call Canada Business Ontario at 1-888-576-4444 to speak with a business information officer in English or French, weekdays between 8:30 a.m. and 5:00 p.m.

Canada Business Ontario is a program within the Federal Economic Development Agency for Southern Ontario (FedDev Ontario). For further information on federal economic development programs and services for southern Ontario visit FedDevOntario.gc.ca, contact them by email at info@FedDevOntario.gc.ca or call toll-free 1-866-593-5505.


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