The risk of non payment can be mitigated by using internationally accepted terms of payment e.g. Letter of Credit

If the opportunity exists and is viable, companies should start with exporting before selling to the local market.

There are different types of terms of payment to suit the different modes of transportation

The key to selecting any market is proper marketing research and sufficient preparation

There is an array of market entry strategies to suit various types of exporters and target markets. Whilst large companies typically account for far more total exports but the real fact is that vast majority of exporting firms in most countries are small and medium sized enterprises (SMEs)

There are various [financial and non financial] efforts and schemes by the government to assist e.g. trade financingschemes to assist and exporters’ development programmes

Other competitive factors play a large role including intellectual property (IP), quality, service, and consumer taste - these may override the size of thecompany

The steps in exporting are systematic and its process and practice is consistent worldwide. There is an abundance of resources available online that helps the first time exporter about all ins and outs of exporting.

With proper training and advice export risks can be adequately mitigated. Selling anywhere has risks even in the domestic market, but it can be reduced by using Letters of Credit (L/Cs) payment terms