The Harmonized System is an international product catalog that classifies goods varying on their features. Businessmen should become acquainted with this system to obtain better results upon internationalizing their businesses.
International trade shows remain a cost-effective channel for generating leads, making sales, and showcasing company offerings. The booth is central to creating a business friendly ambiance that will attract visitors and generate new clients.
La IX edición del Foro Económico Mundial para América Latina hizo énfasis en la necesidad de profesionalizar a las PYMEs para que estén mejor preparadas al momento de competir en el mercado global.
SMEs exporting products or services are often faced with the risk of non-paying customers. This situation can be solved by taking out “export credit insurance” that minimizes this risk without missing out on valuable business opportunities.
SME owners will obtain more benefits if they decide to expand internationally than if they place production only in the domestic market. They can diversify client portfolio and be less exposed to commercial and financial risks.
The country has two ingredients for success in connection with the political interest at stake for this sector: biodiversity and talent.
Selling in external markets represents a huge challenge for many SMEs not only due to the demand for high quality products but also because they typically cannot keep up with the production volumes required by the buyer or importer. This is why forming alliances with other businesses may be the solution.
Uruguay has acquired a solid position as a strategic transit point for international trade by offering significant customs, operating and geographical advantages. It is the gateway to Mercosur through its principal ports located at the mouth of the Parana-Paraguay-Uruguay Waterway.
Businessmen are usually experts in their products but not on export procedures. The Inter-American Investment Corporation recommends executing agreements with other companies to jointly address internationalization challenges.
A 2010 report by PROCOMER and FUNDES analyzes the factors that led to the successful internationalization of some SMEs, enabling them to export their products to outside markets. According to this study, thriving SMEs efficiently manage international trade, use available services to facilitate the internationalization of their products and are concerned about strengthening their business skills. They also make good use of information technologies and institutional assistance programs.
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