Enterprise Ireland is responsible for supporting prospective and emerging exporters to build company scale and expand their reach. The Exporter Development Department works with companies considering exporting as a platform for scaling through their client engagement model.
Enterprise Ireland is looking to engage with small businesses to support them in fulfilling their global ambitions. To support companies in assessing export capability, they have developed an online export preparedness scorecard to help companies to determine their capability to develop and implement an export led business plan.
Selling overseas is a key opportunity for many Irish businesses to scale. For companies to achieve their global ambition, it is critical that they put a business plan in place. Preparation is key if you are to achieve sustained success in export markets.
According to Enterprise Ireland, “Your business plan should be built on an understanding of your target markets and underpinned by market research. The business planning process will involve you identifying your unique value proposition - what differentiates you clearly from your competitors. Successful business planning involves assessing your strengths and weaknesses under six business pillars and determining where you need to enhance your capability to compete in international markets. Are you clear what your offering is, who you are offering it to and how you will generate sustainable export revenues?”
Critical to any Business Plan is the identification and management of risk. Understanding uncertainties that could impact on your business should form part of your export planning. This is particularly important in times of uncertainty and change.
Country and political risk are important to consider, as companies now turn to more challenging territories, their risk management strategies should be adapted accordingly.
To try the export scorecard for yourself, check out their link here.