Export Potential
View ResourceU.S. Commercial Service: A Basic Guide to Exporting
This detailed guide maps out key considerations for exporters, from developing an export strategy to understanding rules of origin for trade agreements. It covers both goods and services, as well as issues related to electronic commerce, intellectual property rules, and international legal considerations.
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U.S. International Trade Administration: Export Potential
This guide explains the key considerations for assessing export potential for a good or service. It includes information for U.S.-specific exporters, as well as information applicable more broadly.
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Export Readiness Assessment Questionnaire
This resource provides a questionnaire that MSMEs can use to assess their readiness to export their products overseas. It also provides detailed information on how to interpret the results.
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U.S. International Trade Administration: Exporter Assessments
This resource provides a guide for MSMEs looking to assess their export readiness, ranging from new exporters to experienced ones. While designed for U.S. companies, it has information applicable more broadly.
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Canadian Trade Commissioner Service: Step-by-Step Guide to Exporting
This resource provides a detailed guide to exporting for MSMEs based in Canada, as well as those based in other countries. It covers topics such as assessing export potential, connecting to global value chains, developing export plans and marketing plans, delivering products, and more.
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OECD SMEs and Entrepreneurship
To provide the information policymakers need as they consider national and international policy options to support MSMEs
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Global Trade Helpdesk
This site provides market intelligence for MSMEs looking to trade abroad, both for importing and for exporting. It includes a host of integrated tools, tutorials, product finders by Harmonized System (HS) codes, data sources, and much more.
View GuideExport Potential Guide
What is export potential and why is it important for my business? Export potential refers to the likelihood that a company’s service can be successfully sold abroad. Businesses usually identify the export potential of their services by analyzing: customer profiles. service modifications. transportation, shipping, and logistics. local representation in overseas markets. exporting services. business development capacities. Additional information like the export market’s economic outlook and current trade conditions may also be useful. Analysing these areas enables businesses to identify the strengths and weaknesses of their targeted overseas markets and to determine whether and why an export has the potential to succeed abroad. How do I determine my business’ export potential? There are two practical ways to assess the export potential of companies’ services in overseas markets. If you are already selling successfully in your domestic market, look for an overseas market with similar characteristics. Assess the unique features that make your service different from those found abroad and therefore desirable in a foreign market. How do I select my target markets? Online trade statistics are a useful tool, as they provide an overview of markets in target countries. They can show if target countries are already importing the services that your company is intending to export. They also indicate supply levels in target countries. One resource for identifying target markets is the European Commission’s Guide for export of services, (see links to supporting information). How do I find potential buyers? The next step after identifying a target market is to find and connect with potential trade partners and business contacts. For example: Trade fairs are a great place to find business partners, as this is where companies from across the world can meet to explore business opportunities, find potential markets, and use contacts or word of mouth. Events hosted by business support organizations for domestic companies, with the aim of helping local companies explore export opportunities, is another option. There are also an increasing number of online platforms that connect buyers and sellers. In addition to well-known global marketplaces like Clickworker, Amazon Mechanical Turk or Appen, a simple internet search is another way to identify specialized online marketplaces (see the Trad4MSMEs guide on selling abroad online). Links to Supporting Information United States International Trade Administration’s (U.S. ITA) How to Analyze a Product or Service’s Export Potential The Government of Canada’s Step-by-Step Guide to Exporting Getting started: assessing your export potential The U.S. ITA export guide for small businesses Guide_To_Exporting The European Commission’s Guide for export of services. Guide for export of services | Access2Markets The U.S. ITA guide on how to find buyers and partners. Find Buyers and Partners Trade4MSMEs guide Selling Abroad Online IMF (International Monetary Fund) World Economic Outlook World Economic Outlook Google’s Market Finder training Find Global Business Opportunities – Market Finder by Google & (110) Discover International Growth Opportunities with Market Finder by Google – YouTube
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Services Trade
What Should I Know Before Exporting My Service? Several trends, including digital innovations, have resulted in the rapid growth in the export of services.
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Basics of Exporting
What are exports? Exports are defined as both the action of sending goods to another country or customs territory, and the goods themselves.
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Where Can I Find Trade Resources and Get Started?
Where do I start? An essential first step in the export process is ensuring your products are classified correctly. Identifying your product’s Harmonized System (HS) code also helps to find the information most useful to your business needs as you look to trade. The Trade4MSME guide on How Do I Determine My Product’s HS Code, provides detailed information on how to find the right classification. Once you know your HS Code, the internet offers a variety of online tools, platforms, and interfaces that provide relevant trade information. One of these online resources is the Global Trade Helpdesk (GTH) The GTH is a multi-agency initiative that facilitates market research for companies, by integrating trade and business information into a single online portal. It builds on existing trade information services being offered by several international organizations, enabling businesses to access a wealth of global trade resources. What types of information does the Global Trade Helpdesk offer? The GTH allows businesses to explore markets, assess requirements, navigate procedures, and identify partners through its four modules: The first module offers an insight into the target market attractiveness and a snapshot of this market performance and access conditions. The second module helps businesses to assess market access conditions, including tariffs, regulations, and private standards. The third module offers overall guidance on domestic procedures, including time and cost to export, step-by-step procedures, and information related to intellectual property rights. Finally, the fourth module provides relevant contact details for both potential buyers and trade support institutions. Full details are at the GTH site. What trade information tools are integrated into the GTH? Trade Map: analyses global trade flows, export/import performance, international demand, alternative markets, and the role of competitors. Market Access Map: identifies customs tariffs, tariff rate quotas, trade remedies, regulatory requirements, and preferential regimes. UNCTAD (United Nations Conference on Trade and Development) TRAINS: provides data on non-tariff measures at the HS 6-digit product classification across more than 90 countries. Export Potential Map: highlights markets, products, and suppliers with export potential, as well as opportunities for diversification in international markets. Trade Information Portals: Ten countries have their trade information portals linked to the GTH. These portals visualize step-by-step guides to trade procedures. Trade Facilitation Database: analyses the implementation status of the World Trade Organization’s Trade Facilitation Agreement (TFA) and provides information about trade procedures, enquiry points, customs brokers, and single windows. Sustainability Map: highlights business strengths and sustainability credentials to access new markets and preferential credits. ePing Alert notifies businesses about product requirements and facilitates dialogues on potential trade problems at earlier stages. Regional Network Hubs: Business social networks can help businesses reach regional and global clients, suppliers, and investors. For example: ConnectAmericas or Asia-Pacific Economic Cooperation (APEC) MSME Marketplace Rules of Origin Facilitator: enables businesses to find import duties in foreign markets appropriate to their products, as well as identifying detailed rules of origin, potential duty savings and certification procedures. Links to Supporting Information Trade4MSMEs guide How Do I Determine My Product’s HS Code? Global Trade Helpdesk Global Trade Helpdesk Trade map Trade Map – Trade statistics for international business development Market Access Map Market Access Map (macmap.org) UNCTAD TRAINS TRAINS Online (unctad.org) Export potential map Export Potential Map (intracen.org) Trade information portals Global Trade Helpdesk Trade Facilitation database Traders | TFAD – Trade Facilitation Agreement Database Sustainability Map Sustainability Map ePing alert Home – ePing SPS&TBT platform (epingalert.org) Connect Americas About ConnectAmericas | ConnectAmericas Asia-Pacific Economic Cooperation (APEC) MSME Marketplace APEC MSME Marketplace Rules of Origin Facilitator Rules of Origin Facilitator ITC ITC Benchmarking for Trade | ITC Benchmarking for Trade
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Export Readiness Assessment Guide
Is my business export ready? One of the first questions to consider is why Export? What are the benefits? Research shows companies that export are more profitable, more productive and more innovative than those that do not. Research has shown that businesses are 11% more likely to survive if they export. The reasons for this range from spreading export risk amongst different country markets, to increasing turnover and improving innovation by developing specific services for specific overseas markets. Increased Sales – If you are selling well in your own home market, and your service is in demand, exporting is a way to develop new additional sales in other countries. If your services are in demand at home, then there is likely to be significant demand in foreign markets. Higher profits result from increased sales – If you can cover fixed costs through domestic operations or other types of financing, your export profits can grow very quickly. Economies of scale – You can benefit from the cost savings when you produce and sell more services. The benefits from the economies of scale can be very advantageous. Global competitiveness – The experience your company gains internationally will help keep you competitive in both your home market and in the global marketplace. Domestic competitiveness – Successful exporting companies are often more resilient to potential foreign competition. Reduced risk – If you can sell into several different countries, you are spreading the risk. If you diversify into international markets, you avoid depending on a single marketplace and suffering from any domestic instability. New knowledge & experience leads to innovation – The global marketplace abounds with new ideas, approaches and marketing techniques that could also prove successful in your home market. Adaptations to your service for example leads to new innovations and new service development. Trading internationally not only helps with all of the above, in addition trading globally can boost your company’s profile, reputation and credibility. Is my business export ready? We live in an increasingly interconnected world, which means that businesses of all sizes might receive enquiries from buyers in other countries. An export-ready business is one that has the capacity, resources and management to deliver a marketable service on a global scale at a competitive price. To determine if your business is ready to export internationally you can do your own export readiness assessment. Here is a check list of areas to consider Set clear and achievable export objectives. Develop an Export Plan. Understand your service USPs (unique selling points) in export markets. Formulate a realistic idea of what exporting entails and create a timetable for results. Understand what is required to succeed in the international marketplace. Confirm you have staff in place with the knowledge and skills to trade internationally or are willing to learn Is finance in place to help scale up for export? Undertake market research and decided on the best international target markets. These could be neighbour countries who are part of a trading bloc or developed countries with large populations and large purchasing power. Understand international marketing requirements. Research your competitors – both international competitors but also competitors based in the country which you want to export to. Considered any adaptations that may be required. Understand any cultural and language needs. Research your market entry strategy how, and to whom you will sell to in the export markets: Direct sales to a business or consumer / Intermediary representatives / licensing / foreign direct Investment through establishing a company in your target export market Understand destination country regulations, export and import documentation, customs requirements and procedures. You can also use export readiness assessment tools. A typical export readiness assessment will involve answering questions to determine a final score. This score is then used to help guide businesses through the necessary steps to become fully export ready. See the links for more information. Links to Supporting Information The Canadian Trade Commissioner Service Step-by-Step Guide to Exporting(tradecommissioner.gc.ca) Official Website of the International Trade Administration USA Exporter Assessments (trade.gov) Government of Canada Export quiz Are you ready? (international.gc.ca) Caribbean Export Development Agency 10 Steps to Exporting | Caribbean Export (carib-export.com) Kenya Export Promotion & Branding Agency BrandKE – Guide to Exporting
