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Introduction to export - part 2

In this following article, we'll be defining the exporter and different forms:

WHO IS AN EXPORTER?

An exporter is someone who sells goods or services in a foreign market(s) in order to make profit among other objectives. Exporters can be classified into the following categories:

  1. Manufacturing Exporter: This is a company which apart from being manufacturer of a particular product or ranges of products, also exporting the same product(s) by itself, this could also include the farmers who produce a farm produce and export the products by themselves.
  2. Export Merchant: This is an exporter, who buys goods/products from the manufacturers or farmers to resell them to an overseas market (export),
  3. Export Agent / Brokers: The agent /broker does not actually export but serves as a contactor between the overseas importer and the local/international exporter, such agents use their knowledge of the export products, the target market as a platform of contact between the overseas importer and the exporter. They receive commission for their service depending on many added values, from “finder’s fee”, “procurement fee”. They’re known also as Match/Deal Makers. Becoming an export broker is one of the easiest (but needs a high level of professionalism) and the most rewarding ways any prospecting exporter can raise money to go into full time export business. There are many ways of sourcing for foreign contacts/serious importers; the most common way is simply to use the power of common sense, recommendation, digital networking using the internet. With the internet you could scout for reputable foreign Consignee/Importers, and do due diligence check on them online. Another way is to make use of your friends and relations abroad. Once you locate foreign Consignee/Importers, your next step is to know their requirements and specifications. Armed with this knowledge, you can now proceed to look for local producers that meet those specifications and connect the two parties for an agreed commission.

 

 

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