Detailed Process on How to Start Your Export Business

Many aspiring businesses are the ones with big dreams of expanding and exporting to countries worldwide. And everyone can get these dreams fulfilled if they know the proper procedure and tips on how to start export business.

India is a developing country with so many new businesses coming into existence. The youth here is more inclined toward experimenting and bringing creativity to life. This is why there is considerable scope for them in the export sector.

And with the Make in India movement launched by the Prime Minister, most individuals look forward to creating anything and everything with an accent of the invention on their own. And new products are always in demand, whether domestically or globally.

The best way to make your manufactured items reach a broader audience in need and looking for a solution to their problems is to export. This will enhance your productivity and also improve your potential earning.

Following is the process on how to start your export business from India.

• Establish your organization

Many people aim to sell across borders without having a physical presence. It might be possible for some countries, but the others require your entity code. So you must have your organization registered. It also gives a sense of authenticity to the buyers.

• Fulfill all legal requirements

Without fulfilling the legal and financial requirements, you would not be able to proceed further. Your home country’s government and the government abroad will need the permits and licenses to allow your products to travel from one country to the other. Also, you must have all the bank details and documentation in place.

• Obtaining IEC and RCMC

IEC is the Import Export Code that you must obtain before you export. You must have this code if you want to take part in international trade. It is a PAN-based procedure that needs you to have an authentic Permanent Account Number as well. After this, you also need to have the registration cum membership certificate from the concerned authority.

• Selection of products and markets

When you talk about how to start an export business, the products and target market matter the most. After you register and obtain the IEC, you must have excellent products that are required in your target marketplaces. So, you need to select a suitable product for export and the right target audience for your specific products.

• Selection of platform

After everything comes to the selection of the platform through which you will sell, it is not possible to sell by going from country to country. You will have to have your website or a third-party service provider like Amazon, which can handle your shipment and delivery.

If you follow the process mentioned above step by step, you will establish your presence for your customers abroad. Then, you only have to focus on developing strategies and plans for growth.

Also read:- Your guide on how to export using Amazon FBA