Tips for doing business internationally

Do some research into the local import or export market to find out whether there’s demand for your product, to identify your business rivals, and to understand the developments in your sector. Familiarise yourself with the codes of conduct and customs. There is literally a huge distance between you and your client. Language and cultural differences can increase the risk of miscommunication. The business culture in South American and Middle Eastern countries, for example, is very different from that in the Netherlands.

Make sure you have reliable company information. Is the company financially healthy? You’ll find information about countries (in Dutch) here. Of course, it’s best if you speak the language, but if you don’t, find a local interpreter or make the right contacts (in Dutch) in the country.

You’ll have to consider product requirements, import duties, transport, an unfamiliar market and foreign currencies. And make agreements with your foreign business partner. Make sure you’ve got all these angles covered. Our import and export checklist will help you on the path to success.

And there are two tools you simply can’t do without:

• Access2Markets. This gives you all the information you need about import and export by country and by product.
• Incoterms. Incoterms shows you at which point the risk of loss or damage of the goods is transferred from the vendor to the buyer. And the cost of the transport.

You don’t want to get into a situation where the client doesn’t pay or the supplier doesn’t deliver. Avoid this risk with a Bank Guarantee for businesses, a Documentary Collection or a Letter of Credit. This way, you can do business internationally with confidence and peace of mind.

You should also bear product liability (in Dutch) in mind. If you import a product from outside the EU, you are liable for that product as the law sees you as the producer and therefore responsible for any damage caused by, or arising from, the product.

We can go over your options with you. Here’s an overview of the main trade risks and how to limit them.

If you need financing to fulfil your international dream, our experts are here to help. Discover which financing options (in Dutch) work for you.

Did you know that Trade Finance also offers financing options? We have several options for purchase financing or advance financing of a deferred payment with Trade Finance.

When doing business internationally, you need to keep more records than when you only trade in the Netherlands. The Tax Authorities need you to provide proof with your VAT return, so remember to specify the VAT when sending invoices. You must also store various documents safely, such as consignment notes for import, proof of export of your product and signed transport documents for export. Read all the information carefully to find out which records you need to keep.

• Our International Trade Guide (in Dutch) tells you which solution best covers your trade risks.
• Stay up to date on developments within your sector (in Dutch).
• Read all about transferring money abroad and how this is done step by step.