With a scope of immense profits and a colossal expansion in customer base, what’s your excuse for not being on the list of export businesses?
As per Statista,“approximately,$298.83 billion worth of goods were exported from India in 2017.”
The economy has never been in a better shape for India. Being a part of BRICS,the country is recognized as an emerging market leader globally. But are we missing out on a large source of potential revenue. The truth is that there are millions of SMEs in India that are so busy operating and closing their day-to-day sales that they are missing out on the bigger picture of stepping into exports and exploring the complete potential of their business.
Here are a few reasons why you should start your company’s export operations sooner than later:
If your production setup is capable of producing more units than it presently does then you are underutilising your resources. An expansion overseas will bring down your cost per unit, and you will eventually have more sales than ever.
Extending product life cycle
Businesses often ignore the fact that their product may have demand in international markets too and usually sell locally or within the domestic market. Consider a scenario where your product is facing obsolescence in your present market. In such a case your product might lose the market share, and your production setup maybe no longer of much use. By getting into exports you can extend the life cycle of your product by finding other markets that still have a demand for it.
Balancing the off-season
If your business sells a seasonal product, getting into exports can be a smart move. Once there is an off-season in one market, you can continue making money by supplying it to other markets. Thus, running your production or trade cycle smoothly all around the year.
Being in competition
Though you may have captured a market share in your own country, your competitors might be leaps and bounds ahead of you.To stay in the competition, you might also have to step in to exports because your competitors are doing it.Your competitors, if supplying to overseas market, will not only lower their production cost but will also use their profits in marketing aggressively in the local market. This can be detrimental to your businesses. Why not start exporting and enjoy the same benefits that your competitors are enjoying.
Answering your inquisitiveness
Majority of businesses will choose one of the above reasons to get into exports, but there are still a percentage of people who would like to know how business works out overseas.This inquisitiveness can be the biggest reason for you to step into the export business. If you wish to explore different markets and cultures and love interacting with people globally, export can be one excellent opportunity for you.
EXIMAPS: A one-stop solution for export analysis
Still indecisive about what would happen and how you will manage? Let’s talk about a solution that can do away with every nightmare that you have had regarding exports. Eximaps, a competitor analysis tool, offers a rewarding and nimble solution to anyone who wants to grow, connect and eventually conquer the export sector in a short time span.
Powered by Artificial Intelligence, the tool gives businesses valuable insights by conducting a precision search in big data. Whether it comes to balancing an off-season, extending the product life-cycle or staying in the competition, the very first challenge is to find the market that’s most suitable and a buyer who is genuinely interested in your product. And EXIMAPS does just that.
Eximaps is just the tool you need when it comes to transforming your business. Conducting transactional analysis for exact market prospects, period wise information, providing the list of active foreign buyers with contact details, and doing a trend analysis are some of the outstanding benefits a business can get by using Eximaps.
The final say
So, what are you waiting for?It is time to sign up for advanced export solutions with EXIMAPS and make your business stand out among millions.