Post by Trade facilitator on Jul 27, 2019 12:53:07 GMT 1
Following the recent resolve by the Nigerian government to give more support to agro-allied products, the costs of exporting farm produce and other related products from Nigeria will be favourable, thereby making the export market for agro-allied products more promising.
Export business is very profitable and the earning potential will only increase in the coming years. This is a golden opportunity for the smart entrepreneur to key in and prosper.
This post is to encourage and guide industrialists, businessmen and individuals to invest in exporting our products so as to grow the country’s export index, create jobs, and in the long run stabilize Nigeria’s economy.
To increase your chances of success in agricultural export business, you need some hands-on training. In export business, the devil is in the details. Details is what you need. It will cost you but you will be thankful for it.
Here is a step by step guide on how to start your own agricultural export business in Nigeria
1. Make research and draw up a business plan
A business plan is critical not only as a road map to your business success, as no business succeeds without adequate planning, but as a basic requirement to secure export loan from banks, financial institutions and government bodies. Your business plan should include details like:
What to export?
Which product is in high demand outside Nigeria, and is readily available in Nigeria?
Is the demand for the goods high enough to be worth going into the business?
How do I establish foreign contacts and customers so as to quickly sell my goods?
Which country or countries will be the best to export my goods?
Where can you get it?
Who wants to buy it?
Who your buyer is and what they want?
How much do you need to start?
How much is your budget?
How profitable is the venture?
What is your Return on Investment (ROI)? ROI could be as low as 10% or as high as 100%
How do you plan to maximize profit?
How will you get paid? What is the exchange rate? How long should it take to get your money?
For how long is the produce available? - Some crops are seasonal.
What is your mode of transportation/shipping?
What are the legal requirements? What are those conditions my company and/or my goods must meet before they are cleared? Who clears my goods before they are transported outside Nigeria and on what conditions? What government agency/department certifies my goods okay for exportation and which one am I expected to register with?
These questions and many more must be answered by YOU in the course of your research.
It is advisable you meet and network with like-minds who are in the same line of export business to learn from their mistakes and strengths before you embark on exportation of goods to foreign countries from Nigeria.
There are many government agencies, departments and ministries that certify goods fit to be exported.
The Thy global Investment offers help as regards to all export matters.
2. Register a business name
To give your business the required prestige and credibility, there’s a need to register your business. This can be achieved simply by visiting The Corporate Affairs Commissions (CAC).
Having a business name gives you more credibility and is a requirement for getting your NEPC export license.
You will be dealing with a lot of foreigners, and in the quest to convince them to patronize you, they may need to check out your business with CAC and if CAC doesn’t have any information on your company, they will assume you are a fraud.
So, there is a need to register your business if you wish to export goods to foreign countries from Nigeria so as to win customers’ trusts.
There may also be the need to show your foreign partners your Certificate of Incorporation to win their trust and do business with you without fear. Also, you need to register with Nigerian Export Promotion Council (NEPC) since you are going into non-oil exportation business.
3. Search for Customers or buyers
No business ever survives without customers as most businesses depend on them. So, you must look for the right means to search and win customers.
Ways to get and secure buyers
1. Design a website and advertise it on web search engines like Google. When you advertise your website on platforms such as Google, it increases your chances of being found online when overseas customers search for exporters in Nigeria, for instance when a customer abroad searches for “charcoal exporting companies in Nigeria”, if you are into charcoal exporting business, your company will automatically appear on the options on Google.
They will click on the link and read more about your company. This is a quick way to get clients. Also go to people who are into similar business and collaborate with them. Some of them may give you the right connection especially if they don’t have the capacity to meet high demands of their customers.
You must have a functional website that will display all your products, contact numbers, email addresses, and all the necessary information a client will need to contact you. Therefore, searching for customers from the internet and meeting people are key if you wish to export goods to foreign countries from Nigeria.
Also, you must be willing to attend seminars to meet export business tycoons and stake holders.
2. Speak with friends and family members who are based overseas to discuss your new business. They may have some advice for you or even give you the right connection to the people you need. This way you will get the right connection to boost your business. They can tell you what is what, help you sell your products and make sure you get your money. I know a lot of people who export this way.
You can export food stuff to relatives in Europe and around the world where they enjoy Nigerian dishes. This is a cool way to make money.
3. You can get buyer recommendations from other exporters and export consulting firms. These are people who are already in the business and can show you the success paths. This is where your ability to network comes into play.
Other ways to get buyers include trade brokers,
Chamber of Commerce and export agents.
In summary
Exportation of goods to foreign countries from Nigeria is a good business but just like every other profitable business, most exportation businesses are capital intensive and involves a lot of risks.
Therefore, it is advisable that every new entrant insures the goods to be exported and always consult us to minimize the risk involved in the business.
For further inquiries and clarification or in case you need assistance with setting up an exportation chain for agro products from Nigeria, we at The Thy Global Investments Ltd are always willing and ready to help. Contact us for more information on export
Export business is very profitable and the earning potential will only increase in the coming years. This is a golden opportunity for the smart entrepreneur to key in and prosper.
This post is to encourage and guide industrialists, businessmen and individuals to invest in exporting our products so as to grow the country’s export index, create jobs, and in the long run stabilize Nigeria’s economy.
To increase your chances of success in agricultural export business, you need some hands-on training. In export business, the devil is in the details. Details is what you need. It will cost you but you will be thankful for it.
Here is a step by step guide on how to start your own agricultural export business in Nigeria
1. Make research and draw up a business plan
A business plan is critical not only as a road map to your business success, as no business succeeds without adequate planning, but as a basic requirement to secure export loan from banks, financial institutions and government bodies. Your business plan should include details like:
What to export?
Which product is in high demand outside Nigeria, and is readily available in Nigeria?
Is the demand for the goods high enough to be worth going into the business?
How do I establish foreign contacts and customers so as to quickly sell my goods?
Which country or countries will be the best to export my goods?
Where can you get it?
Who wants to buy it?
Who your buyer is and what they want?
How much do you need to start?
How much is your budget?
How profitable is the venture?
What is your Return on Investment (ROI)? ROI could be as low as 10% or as high as 100%
How do you plan to maximize profit?
How will you get paid? What is the exchange rate? How long should it take to get your money?
For how long is the produce available? - Some crops are seasonal.
What is your mode of transportation/shipping?
What are the legal requirements? What are those conditions my company and/or my goods must meet before they are cleared? Who clears my goods before they are transported outside Nigeria and on what conditions? What government agency/department certifies my goods okay for exportation and which one am I expected to register with?
These questions and many more must be answered by YOU in the course of your research.
It is advisable you meet and network with like-minds who are in the same line of export business to learn from their mistakes and strengths before you embark on exportation of goods to foreign countries from Nigeria.
There are many government agencies, departments and ministries that certify goods fit to be exported.
The Thy global Investment offers help as regards to all export matters.
2. Register a business name
To give your business the required prestige and credibility, there’s a need to register your business. This can be achieved simply by visiting The Corporate Affairs Commissions (CAC).
Having a business name gives you more credibility and is a requirement for getting your NEPC export license.
You will be dealing with a lot of foreigners, and in the quest to convince them to patronize you, they may need to check out your business with CAC and if CAC doesn’t have any information on your company, they will assume you are a fraud.
So, there is a need to register your business if you wish to export goods to foreign countries from Nigeria so as to win customers’ trusts.
There may also be the need to show your foreign partners your Certificate of Incorporation to win their trust and do business with you without fear. Also, you need to register with Nigerian Export Promotion Council (NEPC) since you are going into non-oil exportation business.
3. Search for Customers or buyers
No business ever survives without customers as most businesses depend on them. So, you must look for the right means to search and win customers.
Ways to get and secure buyers
1. Design a website and advertise it on web search engines like Google. When you advertise your website on platforms such as Google, it increases your chances of being found online when overseas customers search for exporters in Nigeria, for instance when a customer abroad searches for “charcoal exporting companies in Nigeria”, if you are into charcoal exporting business, your company will automatically appear on the options on Google.
They will click on the link and read more about your company. This is a quick way to get clients. Also go to people who are into similar business and collaborate with them. Some of them may give you the right connection especially if they don’t have the capacity to meet high demands of their customers.
You must have a functional website that will display all your products, contact numbers, email addresses, and all the necessary information a client will need to contact you. Therefore, searching for customers from the internet and meeting people are key if you wish to export goods to foreign countries from Nigeria.
Also, you must be willing to attend seminars to meet export business tycoons and stake holders.
2. Speak with friends and family members who are based overseas to discuss your new business. They may have some advice for you or even give you the right connection to the people you need. This way you will get the right connection to boost your business. They can tell you what is what, help you sell your products and make sure you get your money. I know a lot of people who export this way.
You can export food stuff to relatives in Europe and around the world where they enjoy Nigerian dishes. This is a cool way to make money.
3. You can get buyer recommendations from other exporters and export consulting firms. These are people who are already in the business and can show you the success paths. This is where your ability to network comes into play.
Other ways to get buyers include trade brokers,
Chamber of Commerce and export agents.
In summary
Exportation of goods to foreign countries from Nigeria is a good business but just like every other profitable business, most exportation businesses are capital intensive and involves a lot of risks.
Therefore, it is advisable that every new entrant insures the goods to be exported and always consult us to minimize the risk involved in the business.
For further inquiries and clarification or in case you need assistance with setting up an exportation chain for agro products from Nigeria, we at The Thy Global Investments Ltd are always willing and ready to help. Contact us for more information on export
