The important steps that should be followed by an exporter in starting an export business are given below:
Foreign Trade is attractive, prestigious and interesting. The exporter is exposed to the international market in which there are numerous avenues open to him. An imaginative exporter with a firm determination will have ample scope for extensive trade expansion.
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Exporting is a scientific activity requiring, knowledge of the rules and regulations relating to export control and promotional measures, procedural formalities and documentation required not only in India, but also in the countries of importation.
All the stages right from the selection of products, location of overseas markets/customers, export pricing and contracts, production/procurement of goods, packing, labeling and shipment formalities, to realisation of export proceeds, assistance and facilities, sales promotion activities, etc. are systematically explained in various modules.
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In addition to this, the essential steps in exporting are also discussed briefly. These steps help to make the exporters’ day-to-day task easier.
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It is not necessary to strictly follow the steps detailed below, in the same sequence. Registration formalities can also be completed simultaneously.
Organizing:
To start an export business it is first imperative to create the necessary infrastructure, however modest it may be. It might involve starting a complete new organisation and/or adding new activities to an existing one.
Naming the Concern:
Where there is already some sort of an organisation, including a manufacturing concern, exporting can be started under the same name and style. To set up a new firm, the first essential task is to name the firm.
The name and style should be ‘attractive’, ‘short’ and ‘meaningful’. For example, addition of the word “International” or “Overseas” to some name of a person or flower tends to lend a new meaning to the firm, whereby it is explicit that the latter deals in export/import business.
Trade Name and Logo:
Moreover, the name, symbol or logo chosen should reinforce the company’s name and create an image in the customers’ mind when they see the letterhead and business cards. The design of the trade name or logo could be prepared by an artist.