While starting an Export-Import or EXIM business is relatively easy, scaling it up is hard work that requires adequate funding. Fortunately, certain financial institutions today offer incredibly affordable business loans, customised to suit your unique EXIM business requirements.
So, why hold back on its expansion? Check out these simple tips to boost your business in no time.
Have a sound market knowledge
Always stay upfront with your target market’s changing dynamics, especially local demand and demographics. Having a suitable market route is also vital for selling your products profitably. You can:
- Rely on a sales agent
- Go for a distributor
- Sell directly
- Use a joint venture
Regardless, the right market route will help you deliver products timely while keeping the cash cycles optimal. Likewise, you should always pay due diligence while searching for funding resources to secure credit at competitive business loan interest rates.
Invest in marketing
Nowadays, various online platforms like Alibaba, Trade India, eBay, etc. have made trade marketing far simpler. But in today’s “Ad eats Ad” world, you need to stand out from your competition to bring visibility to your business.
So, outsource SEO activities or hire a marketing service to stay abreast with the marketing trends, including online marketing, social media campaigning, or niche marketing.
And to make the most of your credit facility, have a fair idea of what marketing resources you need before you access the necessary funds. As such, a business loan EMI calculatorcan help you calculate your finances effectively.
Additional Read: Give your Business a Boost with Tata Capital Business Loans
Update your website
Your company website will be vital in attracting potential clients, domestic and international alike. So, you must house a robust website, which is easily translatable according to your target market. It should also have updated contact information and should be easy to navigate.
Even the CTAs for your social media campaign will be linked to your company website in one way or another. To derive the most value, make sure your website is up-to-date.
Additional Read: Three Different Ways You Can Expand Your Business
Automate your workflow
Automating your workflow, wherever possible, can help in reducing unnecessary costs and delays in doing business. The idea is to simply digitise the manual processes across your operational workflow.
So, when you invest in software solutions to manage inventory, you can save time on shipment delivery. How? Because the software will perform all the manual tasks like calculating the landed costs, creating packing lists, managing multiple currencies, etc.
Moreover, you can easily procure quick loans from any reputable lender to finance automation software. But make sure you use a business loan calculatorto have a complete understanding of your EMI commitments before you apply.
To bottom line
Most lenders today provide quick access to business finance. So, you can easily avail of special loans for EXIM business from a reliable finance company like Tata Capital and direct funds towards profitable business development.
At Tata Capital, you can readily secure funding to meet your EXIM business requirements. Get business loan up to Rs. 75 lakhs at highly competitive ROIs. To check your business loan eligibility with us, visit our website.