Overseas trading can be a great way to expand your business, increase profits and can give you new ideas for your business at home. It can also spread the risks and opportunities across different markets.
The benefits of overseas trading can be:
increased sales – introducing your product to new customers and increasing sales and profits
better economies of scale – by expanding into more markets, you can make better use of your resources to bring your costs down.
greater percentage utilisation – if you increase the number of products being made, the cost to make each product should be lower
fewer seasonal sales fluctuations – if you have seasonal products, you can sell them to countries in the southern hemisphere
reduced risk – by spreading the risk of downturns across more markets you are less dependent on individual markets
knowledge and experience – you learn new things about your market that can help you improve your domestic market