![]() Organizations like the Philippine Exporters Confederation or PhilExport, for example, can help you get started. By going into exporting, you can quickly expand your business network. Networking and building healthy professional relationships are essential to the growth of your business. This perspective from new customers is essential to keeping your products fresh for longer. Indeed, putting them in front of foreign eyes can give them a new lease on life. In fact, you may even start losing market share to other companies that produce newer and more innovative offerings.īy exporting your products instead of continuing to sell them in the local market, you can extend their life cycle. This, in turn, can make it challenging for you to acquire new customers or buyers for your products. If your products have been in the local market for quite some time, there’s a chance that they’ve already achieved maximum saturation. No matter the financing challenge you are facing, there is a likely business financing solution available to you.Įxporting Extends Your Products’ Lifecycle Just this week, we launched our amortizing loan plan that allows businesses to repay your business loans in small amounts that help you manage your cash flow better. You can also take advantage of our purchase order financing facility, which advances the money you need in exchange for your purchase order documents. We can offer invoice financing, for example, to help you get supplemental capital as you await your clients to settle their invoices. If you’re worried about not having enough capital to cover the costs of big orders, fintech institutions like First Circle can extend funding assistance. While there might not be a big market for your products locally, it’s possible that there are customers abroad who are willing to acquire your products, to get them in huge quantities, and to pay for them in prices that are really attractive. One of the primary reasons to get into exporting is that it can help improve your business’s profitability. If you’re still a bit hesitant to dip your feet into the waters of exporting, here are a few great reasons to make it your next venture. Thanks to the sizable Filipino diaspora community spread out all over the world, nostalgia for homegrown products is historically a big contributor to the demand for Philippine goods abroad. Micro, small, and medium enterprises (MSMEs) can also grow tremendously if they can find overseas customers who will be willing to buy their products on a consistent and continuous basis.įor entrepreneurs who intend to export Philippine-made products, this is indeed good news. Exporting might seem like something that only big companies can do, but that’s not the case. One way this can be made possible is through exports. Thankfully, there are vehicles that can help facilitate business sustainability, even expansion plans. He says there’s a big opportunity to export more in products like high value electronics, motor-vehicle parts, home decor, furniture, accessories, and other coconut byproducts. The Philippines exports 80% of the world’s demand for this specific food product. During the webinar, Export Marketing Bureau president, Senan Perlada, shared that electronics comprise 66% of our merchandise exports while we lead the world in dessicated coconut imports to Latin America. Last month, the Department of Trade and Industry (DTI), facilitated a webinar educating Philippine exporters regarding the “untapped potential of Latin American markets,” which they can pursue amid the global recession.
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