#MakeInIndia has brought India to the global forefront. SMEs now want to take the plunge and go global with their product or service. But there are a lot of SMEs in India who don’t know where to begin when it comes to reaching out and succeeding in global markets. #PeriGrow brings you #GoingGlobal, an exciting, adventurous, and financially rewarding program that will address your challenges, risks and complexities of moving onto wider horizons.
It is crucial for companies to follow a logical and planned approach to export development. There are some key factors for export success mentioned below:
Be in the right business:
Export is not a one-time activity or a division. It requires time, money, resources, and technology. Before rushing to export and claiming a global territory, its best for a business to consider if they are #GoingGlobal for the right reasons.
Readiness and capability checklist
- Is your product ready for export?
- Research why the product will attract sales in the destination market. Also analyse whether your company has the capacity to cater to the target market’s requirements?
- Are you ready to see gains come in after a long gap of time and monetary investment?
- Are you familiar with exporting policies?
- Are you matching your product quality to the overseas standards? Which are your weak areas?
Consider all trade barriers
This is a risky area however we use certain preventative measures: Be familiar with political risk, legal risk, credit related risk, fraud risk, dollar fluctuation, compliance, confiscation of property, jurisdiction, tax laws, and bondages.
Financing your venture
Apart from initial investments into the business, #GoingGlobal entails that you offer credit to win overseas customers. Hence, you must pay careful attention to cashflow management before or even after starting your export business. PeriGrow offers assurance, risk , compliance and strategy services for #financing and #NonCollateralLoans.
Considering Intellectual Property Rights (IPR)
While dealing with overseas clients, ensure your Intellectual Property Rights (IPR) properties are protected. This includes copyrights, trade marks, patents, and trade secrets.
An initial assessment can be requested by writing to us at email@example.com PeriGrow will enable your company qualifiy for a laon by cementing the following:
- Your business plan and global marketing plan
- Overseas banking and coordination with financial institutions
- Your business’s track record and credit history
- Your company’s financial history and few years audited financial statements
- Your experience with export, with the product or service you are going to deal in, and with the target market, etc
- The period of finance required, the method of payment you are going to use
- Whether you have obtained trade credit insurance cover
Transformation is key especially major changes to business models, products, and go-to-market strategies, and using technology to level the playing field with bigger companies. Prospering in this increasingly borderless world requires new ways of thinking—a global mindset which encompasses innovation and differentiation.
With a focus on helping the companies become efficient and absorb and implement skills which would lead them to become globally competitive manufacturing enterprises, #UCANPeriGrow to become the “lifeline of Indian economy”.
PeriGrow works in conjunction with various SMEs in the real estate, family business, retail, manufacturing, financial services, media & entertainment, internet-led business sectors. For those SMEs who are looking for expert direction and guidance in #GoingGlobal, a consultation is the first step within our #UCanPeriGrow program. A consultation can be arranged by contacting PeriGrow via email: firstname.lastname@example.org or phone: +91 22 6117 4910.