In Turkey, it is the dream of many companies to reach the condition of exporting companies. Gaining a position in the globalized world economy, increasing domestic foreign currency inflow and opening into new markets are some of the benefits that come along with exports.
In today's market conditions where domestic demand is declining and new channels and opportunities are being sought by manufacturers and sellers, exports are gaining importance day by day. Improving ourselves on exports, being familiar with the legislation, observing the world market and domestic markets, having knowledge of the market share and potential of the goods will give us great advantages on the path to export.
There are many aspects that we should be paying attention to be able to export and to have a share of the international market.
Here are the key elements of export you should know about:
Key Elements of Export
- Intermediary firms / Consultants
- Logistics Companies
- Inspection Companies
- Payment System / Bank
Seller: One of the most important and essential factors of export is the seller which can be defined as an exporter. It refers to an individual or a company that sells goods, services or products overseas with foreign currency units.
Buyer: Another of the most important export factors is, of course, the consumer or a company that buys those products, services or manufactured goods.
The export is actualized as a result of the international trade that is made between the buyer and seller. Export is essential as one of the most substantial gateways of economic development for a country. Here are the key elements of export that are necessary for accomplishing the commerce seamlessly and for both parties to be satisfied with the deal:
Intermediary Firms / Consulting Firms: The intermediary firms and foundations provide a big advantage for businesses that are not capable of exporting due to several reasons such as technological incompetence, lack of skilled staff or not having full knowledge of the regulations. Companies that don't dare to open up to new markets or those that want to export but don't know exactly where to start can get help from professional institutions to make their export process easier and get the most efficiency possible.
Logistics Companies: Since that export involves international trade, shipping the products abroad means mostly a decent amount of distance. This problem comes with a lot of logistics risks. Thus, the quality and reliability of the logistics service become one of the most important subjects. Working with professional logistics companies is important when doing exports, to be able to deliver the goods to the buyer in time and without damage. Working with professional companies specialized in overseas freight and eliminating potential transport risks, you open the doors to international trade in an effortless way.
Inspection Companies: It is necessary to have service from inspection companies to make a safe and secure trade and not to have mutual troubles. One of the biggest problems faced by exporters or importers is that the information agreed mutually during the order process does not actualize sometimes after purchasing.
Working with inspection firms to avoid this risky case offers both parties security during a trade. A final inspection is done before the products are transported through the customs and thus there is always a chance of early intervention if any problem arises.
Payment System: Not only during exports but also during all commercial deals it is of high importance to be on the safe side about the payment process. Sellers and buyers should work with the banks which have international payment infrastructure or have a global secure certificated payment system in order not to have difficulties with payment and product delivery. The last stage which is required to complete all processes may be one of the most important stages of export. Seller company would like to receive the payment of the manufactured product or the provided service securely. As for buyer company would like to receive the product or service of which they made the payment according to the terms that they agreed mutually on. Thankfully, there are certain payment systems or banks which provide this secure and safe system to realize the payment process seamlessly.
So far, we analyzed the key elements of export in this article. There are, for sure, many other factors that affect the export process. We tried to discuss only those which are the most important and necessary before starting to export.
From all reasons above, it will be for the benefit of your company to work with expert companies while you are taking a step towards exporting.