(Newswire.net — December 23, 2021) —
In 2019 the United States ranked as the 2nd largest exporter, and the value of the exports stood at $1.6 trillion.
Are you a business owner looking to expand your market to other countries? Managing commerce locally is already a daunting task; it doesn’t get better when you start exporting your goods to other markets. However, hiring an export management company(EMC) makes it less of a hassle.
Read along to get the benefits of having an export management company.
Market Research
One of the ways a business stands to gain by working with an export management company is foreign market research. When starting, you may have little information about the foreign market, and an EMC can come in handy to help you. The company can help you penetrate more markets since they have knowledge about different foreign markets.
Furthermore, EMCs can assist you in identifying new markets in which to sell your products and services. This is because EMCs collaborate with other companies and, as a result, they are aware of ripe markets for specific products. Hence, your business will grow and penetrate new international markets.
An Established Distribution Network
EMCs have an established distribution network in foreign markets. They have a wide array of representatives, distributors, and export agents in their network. The companies have adequate information about all the aspects of exporting goods to a foreign market.
With an export management company, you don’t have to worry about the storage of your goods in a foreign country. They handle everything right from the moment you export the goods. The icing on the cake is that they handle all your export marketing strategies to ensure your products sell in the foreign market.
Provides Information on Foreign Market Laws
An EMC advises you on how to navigate the rules and regulations of the country to which you want to export your products. Understanding the laws of a foreign market can sometimes be challenging; an EMC comes in handy to ensure you abide by the laws. To put it into perspective, you may be required to understand the tax liabilities you’ll incur in a particular foreign market.
You don’t want to find yourself on the wrong side of the law. You have to be well acquainted with all laws pertaining to your products to avoid hefty fines which may have adverse effects on your business.
A Freight forwarder such as Sobel can handle the paperwork, details, and documentation for you while you focus on growing your business!
Saves You Money
If you were to hire your own staff abroad to handle your exports, it’d cost you more than hiring an EMC. The amount you pay to an EMC is far less compared to what you can incur by hiring your own staff.
Can Advise on Currency Hedging Tactics
The beauty of using an EMC is that they can advise on ways you can reduce foreign exchange risks. If you supply goods to a foreign market they advise you to have forward contracts. This is whereby your contracts will have a set price of a good regardless of currency fluctuations.
Get an Edge by Hiring an Export Management Company
The benefits above are compelling enough to hire an export management company. Without a doubt, you can get an edge in your business by simply trusting an EMC to handle all your exports.
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