Promo Episode 16: Preparing for & Financing Your Export Venture

Speaker 0 00:01 Coming up this month on the trade securely podcast, how to prepare for and finance your export venture, Speaker 1 00:08 an emerging Explorer, and really needs to start by determining where the opportunities could exist for their products and to try and narrow it down to a few countries and then initiate their research into those markets. Uh, the export or we'll need to do some market research to determine, uh, the healthiest markets for their products and determine the number of competitors that might exist in those markets. Uh, the size of market share that exists in that market and how they might distribute those products into the new market. Uh, they should become aware of whether there's any business practices that might impact how they do business in that market. Uh, they would want to determine if there's any trade barriers or terrorists that will impact the sale of their goods. And it's likely that, uh, speaking to the Canadian trade commissioner for that country would be very, very helpful because that would allow the export or to identify any barriers to trade within a certain country. Speaker 1 01:01 Um, at the end of the day, you need to determine if there's sufficient demand to warrant another competitor into that market. And if that is the case, can you price your goods reasonably to turn a profit? Um, and this research is going to take time. You can't do this overnight, and you may need to visit the market and speak to potential buyers in order to obtain a better feel for that particular country and the market in that country. And this process. I think you should really start to think about taking a prolonged period of time. It could take up to six months to do the proper research and set yourself up in order to properly consider exporting to that market, Speaker 0 01:34 preparing for and financing your export venture this month on trade securely.