Expanding the family business

It has been my parents dream to take their business into a higher level. For almost twenty years they have been selling their products only to local markets. Some of their friends and clients have been encouraging them to try exporting their products. Indeed it is very tempting. I also dream of marketing our products globally. It will be an ultimate achievement for me if ever. However, there are many factors that hinder us or my parents from pursuing it. First is the capital needed for business expansion. We need bigger facilities to upgrade our business and be able to pass the Food and Drugs Administration regulations. We will be needing a License to Operate and FDA Certification for all our products. Next we also need to learn about export procedures. My mother's friend suggests an export financing companies that can help us market our products internationally. She said we should try export financing only at 1st Commercial Credit because it is the same company that helped them before in their business. Based on my research, export financing is really a big help to entrepreneurs who do not have enough capital to bring their products to the world. If we're fortunate enough to expand our business, for sure i will avail of their services when that time comes.

No comments:

Post a Comment