Exporting mistakes that businesses should avoid
Bobby Madhav SMEs that have made it locally and are ready to attain the next level of growth by venturing into the export market should avoid making costly mistakes that could potentially harm their businesses. Bobby Madhav, Head of Trade and Collateralised Trade Finance at FNB Business says, businesses entering the export market for the first time often mistakenly assume that merely doing research and having a good concept and value proposition are enough to guarantee success. “In spite of these important factors, without the relevant experience, guidance and partnerships, small businesses are bound to fall victim to costly export errors,” says Madhav as he shares ten common export mistakes that businesses should aim to avoid. • Not willing to learn from others – SMEs that consult experienced exporters, within their sectors, learn a great deal from their past failures and successes. This form of advice is usually free and can save a busine...