With the rampant expansion of the global economy engaging in the multinational culture, the trade and exchange have become manifolds between the countries. As this strengthens the value of money in the international climate and accounts for the international value of the country, developing countries like India promote avenues of International trade especially in export business through schemes like Advance Authorization Scheme, Zero duty EPCG (Export Promotion Capital Goods) Scheme and Service Tax Rebate, etc. Increased export would broaden your sales potential, earn you bigger profits and equip you to become a business leader in the industry.
Steps to Establish Your Own Export Business
Business is a tricky road to take and involves you to engage in a lot of things on your way. The best way to begin is by identifying your career goals and aspirations. In this puzzling yet significant step in your journey towards building an amazing career, you can take the help of Leverage Edu’s AI-based tool. This tool can aid you in identifying the right path to success and smoothen your journey.
But if you have figured it all out, then, here are some recommended steps that one must follow to build an astounding career.
- Decide the product and the area of business that piques your interest. Establishing this would equip you with the understanding of which market would you cater to.
- Then you have to identify the target audience that you are going to serve. This will provide you with an understanding of how to approach the market and take effective steps towards building the brand.
- Analyse the startup costs. Finances are crucial to settling up a business which is why you will be required to build a business plan and recognise the ways to fund your export business project.
- The significant step towards building an efficient business is to create a model, finding a supplier, and handling the operations through business research.
- Since e-Commerce is the latest way of engaging in business activities, it is imperative to establish an online presence. All you need to come up with is a business website and establishing its online credentials. Regular posts and blogs on different subjects would grab people’s attention to your business and you might build B2B and B2C connections.
- Establishing your own export business requires you to engage with the clients, provide services that are up to the mark and bounds the customers to your platform.
Degrees that Compliment Export Business
So, if you want to build a career in the field of Export Business, then, you can pursue courses in International Business Management. Commerce students can easily opt for BMS course at the bachelor’s level. Besides, there are various professional courses after graduation like MBA in Logistics and Supply Chain Management, MBA in Entrepreneurship, etc. that students can consider.
Hailing from the Indian subcontinent, if you are keen towards making a career in export business, then, here is a list of the top 15 countries as published by World’s Top Exports in December 2019 who are engaged in Import and Export Business with India:
|Country||Exchange Value (USD)||Fraction of Total Indian Exports|
|United States||$51.6 Billion||16%|
|United Arab Emirates||$29 Billion||9%|
|Hong Kong||$13.2 Billion||4.1%|
|United Kingdom||$9.8 Billion||3%|
|Saudi Arabia||$5.5 Billion||1.7%|
Analyzing the international market and its demands have an important role to play in the process of establishing a beaming career in the field of Export Business. Those who have made their name in the market began with just an idea, so, nurture your idea with realistic plans and find your key to success. It’s time to meet the career guidance startup that crossed ₹10 Cr revenue in 2 years using AI, read more about us at YourStory.