think global
THINK GLOBAL FROM THE START
Planning on taking your business global? Read these tips first from one of the best in the business
MY ADVICE TO ANY small business is to think global right from the start. Even if you're just starting off by trialling your goods/services in the domestic market, keep international opportunities in your thoughts and plans. For example, does your company name/brand translate well in other languages? If you have to meet food or product safety standards, take this into account in your design to meet both Australian and New Zealand standards. Will your product pack down for easy transportation? The world is becoming increasingly
borderless, foreign markets are changing, and New Zealand is well positioned both geographically and economically to take advantage of the growth of our trading partners such as China, Australia and India.
Before you launch into any foreign market preparation is vital. There are a number of critical steps to exporting success. These five 'C's' are a good place to start:
Clarity
Capability Cash
Connections Commitment
>>> Helpful links for taking your business global:
Market Research Keep up-to-date on the latest market research, as well as sharing
your experiences with other New Zealand exporters. www.mrsnz.org.nz Logistics & Shipping
Check your customs obligations when exporting or importing your goods, and access Air New Zealand's cargo timetable and
container product information. www.airnewzealand.co.nz
Have a clear vision for your product and how you're going to enter the overseas market.
Ensure you have the capability (and capacity) to help smooth your market entry.
Entering an export market is cash intensive for establishment and ongoing costs.
It's not what you know but who you know, and how you use those connections. Get good networks and partnerships in place; and tap into further contacts and market knowledge.
Entering new markets takes time and patience, and potentially some personal sacrifices.
Insurance Taking calculated risks is smart, and insurance allows you to do this with more confidence. Find the right insurance product for
your business or talk to your broker. www.qbe.co.nz
Intellectual Property Protect your business's intellectual property to maximise your
competitive advantage locally and around the world. www.ajpark.com
Foreign Exchange Access up-to-date foreign exchange rates here. www.bnz.co.nz
Advocacy
BusinessNZ and its regional organisations lobby local and central government as a collective voice, and champion policies that allow
New Zealand businesses like yours to succeed. www.businessnz.org.nz
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