Export Readiness Assessment
It is important to assess your company’s readiness to export before venturing into a new market. Brought to you by IE Singapore, the Export Readiness Assessment is a complimentary service for companies new to the export industry.
The assessment analyses each company’s readiness to export by taking these factors into account:
- Export Experience;
- Financial Strength;
- Production Capacity; and
- Market Preparation.
Companies that complete the 10-minute questionnaire will each receive a customised report from IE Singapore officers recommending appropriate assistance programmes that will help kick start its export business.
Trade with Confidence in Emerging Markets
Keeping in mind that new exporters may be more vulnerable in less familiar markets, IE Singapore has put in place two schemes to help companies safeguard their payments:
- Trade Facilitation Scheme (TFS); and
- Trade Credit Insurance Scheme (TCIS)
| Scheme |
Details |
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Trade Facilitation Scheme (TFS) |
The Trade Facilitation Scheme (TFS) aims to help address market gaps in trade financing for Singapore-based companies in emerging markets. Under this scheme, IE Singapore enters a risk-sharing arrangement with the Asian Development Bank (ADB) and Swiss Re Corporate Solutions to increase the capacity for credit guarantees to Singapore-based banks. Companies will then be able to benefit from the increase in availability of trade finance when they enter new markets in search of growth opportunities. |
|
Trade Credit Insurance Scheme (TCIS) |
Trade Credit Insurance helps to protect companies against non-payment by their buyers. This enhances their financial security when acquiring new customers. Under the TCIS, the Global Company Partnership Programme will co-fund up to 50% (capped at S$100,000) of the insurance premium that companies incur while obtaining trade credit insurance policies. |
Export Guide
IE Singapore has identified seven (7) key steps to help companies in their export journeys. Here’s a brief overview of the export guide. Click here for a comprehensive report.
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7 Steps to kick start your Export Journey |
STEP 1: Selecting your Export Market |
STEP 2: Exporting and Branding your Exports |
STEP 3: Entering your Selected Market |
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- Importance of market research |
- Importance of an export marketing plan |
- Choose your market entry strategy
- Branch or subsidiary |
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STEP 4: Logistics of Getting your Exports into Market |
STEP 5: Financing your Export Operations |
STEP 6: Dealing with the Legal Side of Export |
STEP 7: Getting a Handle on Export Risks |
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- Importance of logistics planning |
- Reviewing your financial capacity |
- Learn to protect your transaction |
- Export risk management plan |
Market Access Resources
The IE Singapore website provides resources to help new exporters understand and interpret local business environments, customs and regulations correctly. This will facilitate smooth processes – for example, companies will learn to avoid costly delivery delays caused by misunderstanding local customs.
Companies can also look out for relevant iAdvisory Seminars to get first-hand insights and accounts from IE’s Overseas Directors and industry experts.
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International Enterprise Singapore
230 Victoria Street
Level 10, Bugis Junction Office Tower
Singapore 188024
Weekdays: 9am to 6pm (Closed on Saturdays, Sundays and Public Holidays)
1800 437 7673 (For local callers)
+65 6337 6628 (For overseas callers)
Website: http://www.iesingapore.gov.sg/
For further assistance, you may submit an online enquiry here.