The market has expanded beyond the confines of your territory. A transformation is taking place in this millennium, benefiting everyone regardless of tribe, race, educational background, location, or financial status.
Ignorance is a curable condition; it only requires time, commitment, and deliberate efforts to broaden your horizon for better engagement and value accumulation, unlike diseases such as the Coronavirus or Lassa fever, for which research for cures is ongoing.
As you read through this blog, imagine yourself as an international merchant. This blog will elevate your business to levels you never dreamed of. You will be amazed to see your business thriving like a magical experience in the evening market.
Find Out in This Blog
- The concept of exportation
- Types of exportation
- Items you can export
- How to export your items
- Benefits of exporting your products
- Who can help you export to your destination
- Where you can export to
- Potential risks involved
The Concept of Exportation
Exportation originates from the verb “export” and its Latin root "exportare," meaning "to carry out" or "to send away." Exportation is a crucial method of selling goods, such as food or vehicles, and services, such as insurance or information technology, across borders from one country to another. In its simplest form, it involves conveying or sending commodities (items, goods, parcels, cargo, packages, etc.) abroad in the course of commerce (business, marketing, transactions).
Many successful businessmen and women have grown to become tycoons in their areas by embracing foreign commerce. Historically, many of the most successful business people have made their fortunes through international sales. Therefore, exportation has been a vital component of business for centuries.
Types of Exportation
Exportation is categorized into two main forms: direct and indirect exporting.
Direct Exporting: This involves selling goods abroad without third-party interference. The firm itself handles the selling of its products overseas and is solely responsible for dealing with foreign firms. Direct exporting can be executed through:
- Establishing the company’s own corporate export provision
- Appointing foreign sales representatives and agents
- Using foreign-based distributors and retailers/agents
- Engaging foreign-based state trading corporations
Indirect Exporting: This involves selling goods abroad through third parties. Indirect exporting uses independent middlemen and sales intermediaries responsible for sending the products to foreign countries. Some intermediaries include:
- Commission agents
- Domestic-based export merchants or export trade companies
- Buying or purchasing agents
- Export agents
- Export management companies
- Cooperative organizations
Indirect exporting can be further divided into
Occasional Indirect Exporting: Occurs when a company exports from time to time, either on its initiative or in response to unsolicited orders from abroad.
Active Indirect Exporting: Involves a commitment to expanding exports to a particular market.
Advantages of Indirect Exporting Over Direct Exporting
- Less Investment: No need to develop an export department, overseas sales force, or foreign contacts.
- Less Risk: International marketing intermediaries bring expertise and services to the relationship, reducing the likelihood of errors..
Items You Can Export
What you can export depends on what you have. For this blog, we focus on exports from Nigeria. Nigeria is endowed with many natural resources and finished products, including crude oil and non-oil products like cocoa, cassava, rubber, wool, cotton, palm oil, wood logs, groundnut oil, cashew, garlic, and more. Nigeria mainly exports to Europe and Asia.
How to Export Your Items
With your products in hand, the next step is exporting them. At Valuehandlers International, we ensure a perfect shipping experience. Follow these steps:
1. Identify your partners or prospective receivers in the destination country.
2. Contact a capable and responsive freight forwarder.
3. Submit your shipping inquiries/packing list to info@valuehandlers.com or use the Quote request form.
4. Provide details of your goods (nature, weight, destination, etc.).
5. Receive an email with your export shipping rate and procedure.
6. Complete the registration form via the link provided in the email.
7. Verification and address details will be sent to you.
8. A tracking code will be issued to monitor your goods in transit.
- Ownership Advantages: Firms can leverage specific assets, international experience, and the ability to develop low-cost or differentiated products.
- Lower Investment Risk: Exporting requires less investment than other international expansion modes, reducing financial risk while maintaining operational control.
Valuehandlers is a professional Supply Chain Management Company with deep competencies in air & sea Freight-forwarding, Customs Clearing and Logistics services. We leverage on our decade-long experience, our culture of professionalism and our wide network across over 80 countries to deliver end-to-end quality logistics services to our clients in diverse economic sectors
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