Planning

In many countries it is now a requirement to demonstrate that you “know your customer”. Some people now talk about the need to “know your business” (KYB) and use the phrase “know your customer” (KYC) to refer to individuals.

International trade is the exchange of goods or services for money between countries; foreign direct investment is investment by a business in another country for the purpose of trade, which could be domestic or international. However, there are many ways in which you can ‘internationalise’ your business.

This note is intended primarily for businesses that are seeking external finance. A business plan for use internally will tend to be more of a checklist of actions but a plan for a funder needs to explain the business in enough detail to reassure them that they will eventually get back their investment and make a return. A business plan can be prepared for the whole organisation or for a division or even just for a single service.

The import and export of goods requires a written contract. The terms of this contract must be clearly understandable by both the exporter and the importer, even if they do not speak the same language, and even if their two countries have different business practices and legal systems.

The import and export of goods requires a written contract. The terms of this contract must be clearly understandable by both the exporter and the importer, even if they do not speak the same language, and even if their two countries have different business practices and legal systems.

The import and export of goods requires a written contract. The terms of this contract must be clearly understandable by both the exporter and the importer, even if they do not speak the same language, and even if their two countries have different business practices and legal systems.