You just graduated with a major in International Business. You have started looking for jobs in the area, but so far, you have not had any luck. An entrepreneur at heart, you are considering the opportunity to start your own international trade business.
Besides, you think to yourself that Florida’s location makes it a good place to venture in this area, and your grandparents just gave you the news of a $100,000 graduation gift to be given to you with the condition that it be used to cement your business career.
They are willing to give you even more money if you can show them a sound business plan. You are excited about this opportunity to strike out on your own and are ready to work on the plan right away. After looking at the various foreign market entry approaches you decide to start your own exporting business.
For your proposed export business, fully develop the following components:
Global assessment of your product’s international potential (i.e. demographics, cultural considerations, market data, macroeconomics, government policies, environmental indicators, trade statistics, product specific indicators, and industry indicators).
The effect of trade barriers and non-trade barriers for the specific product and country where you plan to export your product (i.e. import duties, export license, government standards, quotas, product labeling, origin requirements, etc.)
The identification, evaluation and selection of potential export management companies, export agents/brokers, or sales agents and distributors.
Identification, evaluation and selection of logistics providers.
A pricing analysis of your product in the selected foreign market taking into account local freight, insurance, ocean/air freight, warehousing, terminal charges, custom brokerage fees, bank costs, import duties, etc.
A plan on how you expect to mitigate transactional risks, commercial risks and political risks.
The written paper is to follow proper citation (APA) format (Links to an external site.), with correct spelling and grammar, a cover page, and organization with headings.
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