DEXIA

Export Readiness Checklist

You own an enterprise and demand for your product has been growing such that you are considering exporting outside of Dominica.  Below are some important items to consider when exporting goods and services overseas.  This list is not exhaustive, however, it covers a broad enough range of related areas to put you on the right track to export success. 

Contact us if you have any questions.

Is your production capacity sufficient to product the quantities required?

Have you setup a programme to ensure consistency in quality?

Do you have a system to ensure TIMELY production of export orders?

If the manufacture of your product is being outsourced, consider the additional demands associated with management overheads, manfuacturing schedules, quality control, finance, etc.

What is your value proposition?

Why do customers want to buy from you?

Who are you competitors and what is your competitive advantage?

Are you and your staff ready to carry out international sales?

How will you solicit exports?

Do you have product/facility/technical brochures?

How will you disseminate sales literature?

Who is your target customer and how many of them make up this market?

What about establishing an e-commerce platform? 

Where will digital sales take place?

Is your production capacity sufficient to product the quantities required?

Have you setup a programme to ensure consistency in quality?

Do you have a system to ensure TIMELY production of export orders?

If the manufacture of your product is being outsourced, consider the additional demands associated with management overheads, manfuacturing schedules, quality control, finance, etc.

What kind of packaging will be use?

Will you place precautionary marking, international symbols on the outside? eg: Fragile?

How will you transport?

Have you studied all alternative modes of shipping?

What about materials handling(special storage requirements?)

Will you sell directly or will you partner with someone to sell on your behalf?

Some countries require inspection for quality, quantity and price prior to shipment. Be aware.

Do you know how much capital you will need to export?

Have you met credit worthiness standards from financial institutions?

Have you calculated profitability under different conditions? Eg. What is the length of your sales cycle in various markets?

Do you have everything in place to keep accurate records of your export transactions?

What kind of international pricing will you offer?

What do you have in place to protect against exchange rate fluctations?

Are you aware of the legal systems that may potentially impact your business? Areas to consider are rules of competition, compliance with government sanctions and regulations, patents registration, product liability, employment legislation, packaging regulation and setting up of overseas office.

Has your legal counsel prepared a suitable international agreement or sales contract?

Are there any risks that being on the international market may expose you to?

Have you trademarketd or copyrighted your product?

Have you trademarked or copyrighted your product?

Are you aware of laws that may affect receiving payments?

Is export license required?

   Do you have or can you acquire the necessary staff, knowledge and skills for prompting sales inquiries, responding to them and closing sales? These skills may include language fluency, market research and evaluation. Staff may be local, in the new market or include consultants. 

     Do you have or can you acquire the necessary staff knowledge and skills on production and delivery of export orders? Would they me able to manage the increased workload?

     Do you have the relevant resources- finance, human, time, technical for performing all necessary duties re the export of your goods and services?

     How efficient are your processes and operation. Do you need to fune tune them to support your export drive?

 A Banker to set up account, organise finance from foreign companies

 A forwarder for developing shipping procedures

A lawyer for developing an agent/distributor contract

An accountant for considering all financial arrangements

An export packer for preparing and packing products for shipment based on size weight and transport routes

 An insurance agent for insuring shipments and receivables

A BSO/TPO (such as DEXIA) for support along your export journey

Examine the pros and cons (conduct SWOT analysis)

Refer to your export plan

Obtain necessary license (s)  (where applicable)

Receive and process order

Ensure inventory is sufficient

Make product modifications where needed

Send invoice with terms of sale

Arrange for agreed upon payment methods (cash, credit card, letter of credit etc.)

Prepare required documentation (commercial invoice, packing slip, shippers invoice, certificate of origin, standards documentation, health/sanitary certificates)

Arrange for shipping and added documentation (invoices, special packages or markings, bill of lading, insurance)

Pack order and cross reference to invoice and packing slip

Arrange for shipment

Complete export declaration (if required)

Submit permits (if required)

Track shipment

Confirm receipt of goods

Confirm receipt of payment (if not paid prior to delivery)

Provide any required after sales support

Follow up with client re supplying additional product