Getting ready to go Global
The decision to extend sales overseas is a logical and natural progression for many. The ECA’s International Business 101 toolkit provides you with a series of case studies to highlight not only the benefits of going global, but also some of the tricks of the trade these companies learned when they started on their overseas journey.
The motivation to grow your business internationally can be triggered by an unsolicited request from an overseas company for a particular product/service, or the motivation could be the result of a considered decision by the company to develop additional sales growth opportunities and profits through entering an international market.
Irrespective of whether the motivation is based on the “pull” of an enquiry or the “push” of an initiative to develop international sales, the first step should be to realistically review the resources available to develop and support international activity.
- Management commitment and resources
- International experience and/or the ability to tap into international management experience
- Financial resources to support new international expenses and a longer payback period
- Resources to research international market prospects and to develop an international business plan
- International product/services costings
- New payment arrangements and currency decisions
- Probable product and label modifications
- Production options to produce for an international market
- New logistical arrangements to transport to an international market
- Export insurance and credit insurance checks
- Intellectual property protection
- Communication facilities such as internet, email, teleconferencing
- Market entry options and office set-up requirements in a new country
- A budget for international marketing and promotional costs, etc.
Whilst this might seem like rather a formidable list, I can reassure you that even by visiting the ECA’s website you have taken the first step in understanding what is required for you and your business to embark on the exciting journey of going global!
There is plenty of assistance out there to help you navigate your way through the process.
The team at the ECA is passionate about assisting companies to become global ready and our aim is to provide you with the resources and tools required
to be successful in this field. Whether you’re new to international business, need to refresh your knowledge or up skill your team, we look
forward to working with you.
Our goal is to bring people together to:
- build professional capabilities in trade
- elevate the profile of trade
- advocate the benefits and opportunities of trade
- facilitate networking
- improve the performance and success of companies in global trade
- boost the efficiency of trade processes.
Featured GTPA Member
Ziyaad Ebrahim, GTP
Ziyaad has close to fifteen years of experience in international trade and development.He joined the World Trade Organization (WTO) after serving 12 years in various positions within the Government of Seychelles, where he comes from.
During his time in the Government of Seychelles, he was directly involved in trade, investment and general economic policy formulation and implementation.He also has experience on WTO accession and was involved in FTA negotiations with the European Union and within the Eastern and Southern African region. He has also worked with international organisations such as the IMF, World Bank and the African Development Bank on Structural Adjustment Programmes, private sector and MSME development initiatives including gender empowerment projects.
In his current role with the WTO, he coordinates the work of the WTO LDC Group in the ongoing trade negotiations.He also monitors and assists LDC participation in specific areas of the negotiations which include Special and Differential Treatment (S&DT), fisheries subsidies, trade facilitation and LDC accession negotiations.
He is fluent in English and has working knowledge of French.
Ziyaad was one of the first people globally to be certified as a Global Trade Professional in the area of Trade Management.