Common myths about exporting products | Fusion - WeRIndia

Common myths about exporting products

Common myths about exporting products

Though some people have a zeal to export their products, they think it is difficult or expensive. Also, there are many other misconceptions about exporting products to other countries.

Here are some common myths about exporting goods globally:

One of the most common myths is that the size of the company. Often sole proprietors or small companies feel that they are too small to compete in the global market. But, many small enterprises are successful in exporting their products. Though they lack abundant resources like larger companies, they are using the available resources and support to flourish globally. At present, there are many online portals to sell goods and services across the globe. The data reveals that around 40 per cent of exports are contributed by Micro, Small, Medium enterprises.

Another myth is that exporting is risky and complicated. Nowadays, many outsourcing agencies are there to help newbies. Even the government also helps new exporters with the help of its associated agents. Besides, social media platforms help reach people globally. There are some measures to reduce risk. For instance, a Letter of Credit reduces the risk of not getting paid for your product. It is a letter from a bank that assures your money for the product you sell.

It is another myth that the products don’t have a market outside India. You can’t say that a product doesn’t have a market outside the country without market research. Some may not have a market outside the country, but not all. Many products remain best-sellers outside India. Some of them don’t have a significant sale in the domestic market. So, conduct market research before concluding it with just an assumption.

Some others think that shipping is expensive for small orders. But, now, many companies like FedEx offers shipping at reasonable rates.

Image from Pxfuel (Free for commercial use / CC0 Public Domain)

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