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The World is Open for Your Business. Department of Enterprise Services Vendor Education Seminar June 20, 2012.

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Presentation on theme: "The World is Open for Your Business. Department of Enterprise Services Vendor Education Seminar June 20, 2012."— Presentation transcript:

1 The World is Open for Your Business. Department of Enterprise Services Vendor Education Seminar June 20, 2012

2 Let Us Help You Export. 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.

3  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.

4 Exporting Basics Life Cycle

5 Prepare to Export  Is your company ready for exporting? - Commitment from Management & Clear Export Strategy - Self assessment test  Export Questionnaire  1. My company has a product, which has been successfully sold in the domestic market.  2. My company has or is preparing an international marketing plan with defined goals & strategies.  3. My company has sufficient production capacity that can be committed to the export market.  4. My company has the financial resources to actively support the marketing of our products in the targeted overseas markets.

6 Export Questionnaire  5. My company is committed to developing export markets and is also willing and able to dedicate staff, time and resources to the process.  6. My company is committed to providing the same level of service given to our domestic customers.  7. My company has adequate knowledge in modifying product packaging and ingredients to meet foreign import regulations, food safety standards and cultural preferences.  8. My company has adequate knowledge in shipping its product overseas, such as identifying and selecting international freight forwarders, temperature management and freight costing.  9. My company has adequate knowledge of export payment mechanisms, such as developing and negotiating letters of credits.

7 Still Preparing to Export? Approaches to Exporting Direct Exporting Indirect Exporting Distribution Channels In-country Sales Reps, Agents, Dealers, Distributors EMC’s  Management Issues for Exporting Reasons for Pursuing International Markets  Export Plan First Step in Planning Assemble Fact Constraints and Goals Create Action Statement

8 Most Common Mistakes Made by New Exporters Failure to obtain qualified export counseling and to develop a master international strategy and marketing plan before starting an export business. Insufficient commitment by top management to overcome the initial difficulties and financial requirement of exporting. Insufficient care in selecting overseas sales representatives or distributors. Seeking orders from around the world rather than concentrating on one to two geographical areas and establishing a basis for profitable operations and orderly growth. Neglect of the export business when the domestic markets boom. Failure to treat international distributors and customers on an equal basis with domestic counterparts.

9 Assuming a given market technique and product will automatically be successful in all countries. Unwillingness to modify precuts to meet regulations or cultural preferences of other countries. Failure to consider use of an Export Management Company when the firm cannot afford its own export department or has tried one unsuccessfully. Failure to consider licensing or joint venture agreements when import restrictions, insufficient resources or a limited product line cause companies to dismiss international marketing as unfeasible. Failure to provide readily available servicing for the product.

10 Market Research = Export.Gov  Take a methodical approach when considering your product(s) potential in a given market. Narrow your focus by concentrating on no more than two or three best-prospect markets. Country and Industry Market Reports Market Research Industry Sector Offices Country Information –TIC Trade Agreements Trade Statistics

11 Proven Expertise: Market Intelligence Target the best trade opportunities.  Trade Data and Analysis. ­ Obtain the latest annual and quarterly trade data by country, state, commodity, and year. ­ Find industry-specific trade data and analysis. ­ Get country-specific tariff and trade agreement information.  Background Reports. ­ 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.

12 Find and Develop Trade Contacts  Sources of Trade Leads:  · Trade Leads Database  · International Trade Opportunities Through  World Bank and Multilateral Development Banks   Finding International Buyers and Partners  · International Partner Search  · Gold Key Matching Service  · International Company Profile  · Commercial News USA   Trade Events and Related Services:  · Trade Missions  · Trade Shows  · International Buyer Program  · Catalog Events 

13  Washington State Resources  Washington State Department of Commerce, International Trade The International Trade program assists Washington state businesses in accessing the global marketplace. They work with companies small and large to help businesses enter new foreign markets to sell their products and services or to expand sales overseas. Most of their services are offered at no charge.  Export Finance Assistance Center of Washington (EFACW) EFACW provides export finance counseling assistance to small- and medium- sized Washington State exporters or potential exporters. EFACW provides trainings and seminars, consulting on export finance, information on exporting and export financing. Leverage Local Partners Find resources for success.

14  Washington State SBDC, Export Assistance The SBDC offers no-cost, one-on-one export advising services from International Trade Specialists, who are also Certified Global Business Professionals (CGBP).  International Trade Alliance – Spokane (ITA) The International Trade Alliance is a non-profit organization that supports and promotes international business in the Inland Northwest of the United States. The ITA responds to basic business trade inquiries at no cost as part of the public services it offers. If the inquiry requires time and research by the ITA staff, it will be considered a consulting project. …Among many other resources available!

15 Promote Your Company  Once you have begun your targeted search for contacts the next step is to actively promote your company to international buyers around the world.  Offline Trade Promotion Services Trade Leads Database Catalog Exhibitions Commercial News USA E-Commerce Toolbox: A Guide for Going Online 

16 Conduct Trade Transactions  U.S. Government trade specialists and export professionals  are available in offices throughout the country and around the world to guide with from regulations and compliance issues, to direction on logistics, transport, finance and insurance. Pricing, Quotations and Terms Negotiating the Deal Shipping Your Product (INCOTERMS-Intl Commercial) Documentation Required for Exporting International Legal Considerations for Exporting – - Regulations – - Procedures – - Programs

17 Finance Prudent Credit Practices and Methods of Payment  - Prudent Credit Practices & Various Payment Mechanisms Export Financing Programs  - Government Programs  Insuring Export Transactions and Mitigating Risk  - Export Credit Insurance/Export-Import Bank  - Political Risk Insurance for Foreign Investments Federal Grants – - U.S. Trade Development Agency Grants – - The SABIT Grant Program(Special American Business Internship Training) – - SBA Grant Programs List – - The One-Stop Federal Grants Resource

18 Follow Up After Sales Service - Product Development - Marketing and Sales Materials - Customer Support Video Services - Meet pre-qualified overseas buyers, distributors, agents, or international business experts - Interactive, real-time meetings

19 Contact us today to connect with a world of opportunity. | 800.USA.TRADE Janet Bauermeister Director -Spokane Janet 509-344-9398

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