The goal of any aspiring entrepreneur is to get maximum exposure for their product or service in the local and international markets. While this often leads to a boost in sales and the ability to earn lucrative foreign exchange, the journey from production to attracting international business can be daunting.
Fortunately, for a lot of Jamaican exporters, Jamaica Promotions Corporation has eliminated a lot of the hurdles through its export and market development services. Forging a business relationship with them will point you in the right direction with regards to export procedures, trademark and business linkages.
But with all that, the entrepreneur will still have to overcome other challenges to ensure products pass the ‘export-ready health check’. If you are considering exporting products and services you must do a careful study of the market and answer some crucial questions.
- Have you identified the main foreign markets for your products?
- Have you evaluated the product’s export potential?
- Have you conducted an in-depth assessment of your readiness to commit to international markets?
Other things that should be taken into consideration are tariffs and the establishment of an overseas distribution system which can significantly increase your expenses to unprecedented amounts. Of course there are other issues, such as regulations which include consumer protection rules, product standards and quarantine and labelling standards.
The good news is that you don’t have to do it alone!
JAMPRO’s Export Max Programme will help you overcome these challenges and successfully launch your business in overseas markets. Join the three-year-long business development programme and clear those hurdles one after the other. Find out more about Export Max here. Your future self will thank you for it.