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Are You Export Ready? Finding Best Markets & International Partners Brian Miller Senior International Trade Specialist U.S. Commercial Service
The World is Open for Your Business. 95 percent of the world's consumers live outside the United States.
The U.S. Commercial Service. With offices throughout the United States and in U.S. Embassies and consulates in nearly 80 countries, the U.S. Commercial Service of the U.S. Department of Commerce’s International Trade Administration utilizes its global network of trade professionals to connect U.S. companies with international buyers worldwide. Our mission is to promote and protect U.S. commercial interests abroad and deliver customized solutions to ensure U.S. businesses compete and win in the global marketplace.
Is Your Company Ready to Go Global? Assessing export readiness. Do you have success selling in the US domestic market? Are all levels of management committed to exporting with the dedicated resources in place to be successful? Have you developed an international marketing plan with defined goals and strategies? Do you have sufficient production capacity that can be committed to export markets? Are financial resources in place to actively support the marketing of your products in targeted overseas markets?
Is Your Company Ready to Go Global? Assessing export readiness. Are you committed to providing the same level of service given to your domestic customers? Are you able to modify products to meet foreign import regulations and cultural preferences if needed? Do you understand the logistics and shipping process? Do you understand export payment options, such as developing and negotiating letters of credit; export credit insurance?
Challenges for Businesses Going Global. How to enter new markets quickly and profitably? Obtaining appropriate market intelligence to determine best market potential. Addressing legal & regulatory issues. Locating qualified international buyers, distributors & agents. Financing deals.
Market Intelligence. Target the best trade opportunities. Know the source of your market intelligence. The internet is quick but is it correct? Market dynamics can change quickly. Is your intelligence current? Leverage trusted resources. In-country experts are your eyes and ears on the ground.
Proven Expertise: Market Intelligence Country Commercial Guides. Leverage reports, prepared annually by U.S. Embassy staff, containing information on the business and economic situation of foreign countries and the political climate as it affects U.S. business and investments. Industry Sector Analyses –In-depth analysis of specific industry sectors and sub-sectors. International Market Insight. –Brief updates highlighting opportunities, trade events, or changes. Customized Market Research. Gain answers to your specific international business questions, as they pertain to your company. Target the best trade opportunities – www.export.gov
The Export Process. Planning and Strategy. –Create a comprehensive international business plan for entry or expansion into targeted markets. Legal and Regulatory Issues. –Does my product require an export license? Determine export licensing needs for shipping products. Bureau of Industry and Security? U.S. State Dept. – DDTC? Get the information and advice you need to succeed.
The Export Process. Foreign Standards and Regulations. –Understand and comply with global product standards, certification requirements, electricity regulations, packaging laws, etc. Intellectual Property Rights. –Avoid intellectual property issues and legal disputes. –Protect IPR in advance. Get the information and advice you need to succeed.
Documentary Requirements. –Know what is required for the market you are exporting to: commercial invoices, bill of lading, packing lists, certificates of origin, SED filing, etc. Duty Rates. –Verify tariff rates and import fees; determine your product’s Schedule B# (HS numbers). –Your buyer pays the tariff but it impacts their landed cost. –Price adjustment to be competitive? The Export Process. Get the information and advice you need to succeed.
Chasing orders from around the world. Taking insufficient care in selecting foreign distributors or agents. Treating overseas distributors/agents with less respect than domestic counterparts. Neglecting to build solid relationships. Working With The Right Partner Overseas. Common Mistakes.
Define the required skills, capabilities, knowledge, and experience that your distributor should possess. –Size of sales force. –Knowledge of the market. –Knowledge of importing & selling your type of product. –Defined geographic territory. –Technical capabilities. Working With The Right Partner Overseas. The Right Partner.
Partner Search (International Partner Search). –Find pre-screened potential partners and get detailed company reports; determine the marketability of your product or service. Personalized Business Matchmaking (Gold Key Service). –Meet with potential buyers, sales representatives, and business partners. –Leverage customized market briefings. Trade Missions and Trade Shows –Participate in business development missions led by senior U.S. government officials. –International Buyer Program to meet with pre-screened buyers at major U.S. trade shows. –Exhibit in the U.S. Pavilion at Certified Trade Fairs. Proven Expertise: Business Matchmaking Connect with the right partners and prospects.
Conduct Due Diligence. Before you sign a contract, know who you are working with. Understand in-country obligations when signing a distributor agreement as this varies greatly from market to market. US law does not always take precedence. Background Reports (International Company Profile). Learn about potential partners from our trade professionals working in your target markets. Get detailed credit reports covering sales, profit figures, potential, liabilities, and other financial information. Other options include D&B. Proven Expertise: Business Matchmaking Connect with the right partners and prospects.
Proven Expertise: Commercial Diplomacy Overcome trade obstacles to successfully enter international markets. Obtain support if your company’s exports or foreign bids are adversely affected by a trade barrier. Access U.S. government trade advocacy for your foreign government procurement bids. Visits to key foreign officials by high-ranking U.S. officials Direct support from U.S. officials stationed overseas Letters to foreign decision-makers Level the international playing field for your company.
Connect With Trade Finance Partners Link with trade finance partner agencies for extensive guidance on export credit insurance, working capital loan guarantees, etc. –Export Credit Insurance Programs - Mitigate risk of non-payment. U.S. Export – Import Bank –Export Working Capital Loans U.S. Small Business Administration U.S. Export – Import Bank
Trade Counseling. Get the information and advice you need to succeed. Market Intelligence. Target the best trade opportunities. Business Matchmaking. Connect with the right partners and prospects. Commercial Diplomacy. Ensure your products and services have the best possible prospects for success in international markets. Our Proven Expertise Makes Doing Business Internationally Easier. Whether you are looking to make your first export sale or expand to additional international markets, we have the expertise you need to tap into lucrative opportunities and increase your bottom line.
Contact us today to connect with a world of opportunity. Brian Miller, Senior International Trade Specialist U.S. Dept. of Commerce, U.S. Commercial Service 601 W. Broadway, Suite 634B Louisville, KY 40202 Tel: (502) 582-5066 firstname.lastname@example.org export.gov
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