Tips on exporting to developing countries
Last Modified 16th of February 2021
Over the past few centuries the world has come together more than ever before. This has increased significantly since the birth and development of the internet and the world is now more globalised than ever. This has opened up a wealth of business and commercial opportunities that have been exploited by many already. Technologies such as the internet and airplanes have made exporting to foreign and developing countries very easy. However, there are a few things that must be taken into consideration before one can go down this route. Here are a few tips on exporting to developing countries.
Legal technicalities
Much of the problems encountered by those looking to export to developing countries derive from a lack of accordance the products have with the legalities of the countries they’re being exported to.
You must examine the safety regulations of the country you’re exporting to in relation to your product, as well as the technical regulations and import controls in the targeted territory.
Legal technicalities must also concern the transport methods you’ve chosen. The supply contract with third party suppliers must be checked legally.
You should seek the advice of a local technical expert to help you with all legal matters relating to your products and their target country and region.
Knowledge of customers
The local technical expert you hire should also help you in understanding the customs of the consumers you will be selling to and the relevant market. For marketing purposes, you must know who your customers will be and what their likes and dislikes are.
Religious beliefs and customs must be taken into strong consideration as well as cultural values and traditions.
Beware of corruption
Corruption is typically rife in developing countries, and so you must be careful not to fall into the trap of doing business in association with anything that’s immoral or corrupt. Your business’ dealings and transactions will need to be in unison with both UK law and the law of your targeted country.
It is also essential to ensure that you do not involve or associate your business with anything that may make your brand seem immoral, since this will relegate your brand – particularly amongst UK consumers.
Tax matters
Dealing with a business that operates multinationally can bring about a number of tax concerns in regards to what country you are liable to and the technicalities you are obliged to follow. It is best that you get this analysed by a tax firm.
You should also analyse the tax regulations of your targeted country through your local technical expert.
Online marketing
You must use the internet to market your products to your chosen country. From social media to SEO marketing techniques, you should ensure that you have a strong internet marketing campaign to connect, promote and advertise your business with the people of your targeted region.
Conduct an SEO campaign based on the keyword search trends of those in your targeted region. You’ll be surprised at the internet activity of developing countries and the amount they use the same search engines and social networking sites as we do in Britain. You must continue to advertise through these networks and mediums in order to maximise the amount of customers you can attract.
