Posts Tagged ‘Exportech’

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Connecting Entrepreneurs to the Global Marketplace

November 13, 2014

The Commerce Department’s International Trade Administration works hard to help companies that are ready to export compete and succeed in global markets.

We want to emphasize that it’s never too early for entrepreneurs to start thinking about exporting – determining financing needs, targeting markets, conducting research, etc.

As we’ve worked with global startups, we’ve learned it can be difficult for entrepreneurs to connect to existing resources to help them go global. We realize that start-ups differ in their capabilities at various stages of the business development process, but want to help young businesses incorporate export plans into their business model as early as possible.

One great way to get started is to be a part of ExporTech, which can help your company develop its export plan, then have it vetted by a panel of experts. More than 575 companies have participated in Exportech, with an average sales increase or retention of $770,000.

Here are four more tips for the busy entrepreneur to help address specific needs to start exporting:

  1. Secure Access to Capital: Many local and state governments have seed capital and investment programs just for their states’ entrepreneurs and start-ups. Many states have small business development programs or start-up-specific outreach programs designed to assist entrepreneurs to access capital — as well as educate them on best practices. On the federal level, there is the Small Business Administration, which has programs like the U.S. Small Business Investment Company program. A list of other loans directed towards helping small businesses go global can be found here.
  2. Secure your Intellectual Property: In order to increase the confidence a startup requires for going global, we need to ensure they know about what our U.S. Patent and Trademark Office (USPTO) is doing to protect American start-ups’ intellectual property. Here are five simple steps to get started, and you can find more information at stopfakes.gov.
  3. Do your Research: One important thing you need to figure out is the right target market for your exports. Understand the market trends and figure out your company’s competitive advantage. You can find market research reports on export.gov or by visiting your nearest Export Assistance Center. Here are some other important questions you should answer from the start.
  4. Find the Right Partners: Every market is different, and having a good partner on the ground — whether it’s your legal representation, a distributor, or a sales representative – can make a huge difference in your company’s success. Consider ITA’s Gold Key Matchmaking Service to help you find the right partner for your needs.

By helping America’s high-growth start-ups go global, trade will become a broader part of doing business in the United States. The International Trade Administration and the Department of Commerce are committed to enabling our next generation of globally fluent businesses.

Contact your nearest Export Assistance Center to get started.

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U.S. Exporters Learn About Opportunities in Southeast Asia at Baltimore Event

December 7, 2011

U.S. companies looking to export to Southeast Asia were recently able to get a detailed look at opportunities in the region thanks to a two-day event in Baltimore, Maryland. It served as a prelude to a trade mission to the region that the Department of Commerce is leading in May 2012.

Paul Matino is an international trade specialist, and Christopher Goudey an intern, in the U.S. Export Assistance Center in Baltimore, Maryland.

A recent visit to Indonesia by President Barack Obama was a clear indication of the economic importance of Southeast Asia. The region, which includes 10 countries that are members of the Association of Southeast Asian Nations (ASEAN), is the United States’ fourth largest export market. Overall, it is the world’s ninth largest economy.

In order to help U.S. companies tap into this burgeoning market, the U.S. and Foreign Commercial Service (USFCS), a unit of the International Trade Administration, is organizing a trade mission to Southeast Asia on May 14–22, 2012. Called “Trade Winds—Asia,” the nine-day program will enable U.S. companies to meet with USFCS representatives from 14 different Asian markets, as well as conduct business-to-business meetings in Thailand, Vietnam, Singapore, Malaysia, and Indonesia.

The Trade Winds -- Asia highlights 14 different Asian markets. (Photo courtesy istock/PeskyMonkey)

The Trade Winds — Asia highlights 14 different Asian markets. (Photo courtesy istock/PeskyMonkey)

Two-day Preview

To offer a preview to companies contemplating participating in Trade Winds—Asia, the USFCS recently welcomed more than 75 companies to the “Southeast Asia Now Business Conference” that was held November 9–10 in Baltimore, Maryland. The two-day event was hosted by the Baltimore Export Assistance Center and attracted participants from throughout the Mid-Atlantic region. It featured nearly 30 speakers representing government agencies, the private sector, and trade associations.

Among the presenters was the keynote speaker, Marc Mealy of the U.S.-ASEAN Business Council. Other featured speakers at the event included current and former USFCS commercial officers in Vietnam, Singapore, and Thailand.

Aside from presentations, conference attendees were able to participate in interactive Exportech workshops, which assessed export readiness and helped provide guidance to exporters with respect to decisions about market suitability. They were also able to take part in one-on-one consultations with export counselors to discuss immediate export opportunities and financing options.

Realities of Doing Business

Attendee Gary Hall of Immediate Response Technologies of Glenn Dale, Maryland, found that the event was an excellent opportunity to learn about the realities of doing business in Southeast Asia. “The information was extremely helpful in providing me [with] pertinent facts on many Southeast Asia countries where our company is looking to expand our business. The economic facts and cultural nuances presented will be extremely valuable to [us] as we move forward.”

Southeast Asia Now was organized with the support of a number of other organizations, including the Office of the U.S. Trade Representative, the U.S. Trade and Development Agency, the Export-Import Bank of the United States, the U.S. Patent and Trademark Office, the U.S. Small Business Administration, the Maryland-D.C. District Export Council, and the World Trade Center Institute.

For More Information

Trade Winds—Asia is a nine-day trade mission that will make stops in five countries in Southeast Asia. It will be led by a senior Department of Commerce official. Applications to participate will be accepted until March 30, 2012. Visit the Trade Winds forum for complete information regarding the application process, fees, and itinerary.

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