h1

Helping North Carolina Small Businesses Learn How to Access Finance and Get Paid from Export Sales!

June 28, 2017

Yuki Fujiyama, a trade finance specialist in the Office of Finance and Insurance Industries and the author of the Trade Finance Guide: A Quick Reference for U.S. Exporters, currently serves as the Global Finance Team Leader.  Greg Sizemore, the Executive Secretary of the North Carolina District Export Council, currently serves as the Director of the U.S. Commercial Service North Carolina.

This post contains external links. Please review our external linking policy.

Expanding access to finance for U.S. exporters, especially small and medium-sized enterprises (SMEs), and their foreign buyers is important to the International Trade Administration (ITA), the federal government’s lead export promotion agency. As part of the Department’s efforts to help American SMEs fully capitalize on markets around the world, ITA and the North Carolina Small Business and Technology Development Center (NC SBTDC) partnered to present The Global Trade Finance Workshop recently at the University of North Carolina Wilmington Center for Innovation & Entrepreneurship.

Participants of the Global Trade Finance Workshop at the University of North Carolina Wilmington Center for Innovation & Entrepreneurship

Many SMEs face significant challenges in accessing finance and ensuring they get paid from export sales customers. The Wilmington workshop helped the 10 local SMEs in attendance to discover ways to overcome such challenges by learning about the methods of payment and export finance options described in ITA’s Trade Finance Guide.

In 2016, North Carolina’s $30 billion in goods exports helped contribute to the $2.21 trillion of U.S. goods and services exports. In 2015, more than 158,000 U.S. jobs were supported by goods exports from North Carolina.  In 2014, nearly 10,000 SMEs in North Carolina exported their goods to global markets, accounting for 88 percent of North Carolina goods exporters.

NC Port of Wilmington

NC Port of Wilmington

These Global Trade Finance Workshops are designed to help SME exporters learn how to improve their cash flow cycle, profitability, and competitive advantage globally, and focus on the following topics:

  • Analyzing and understanding your financial capacity for trade finance.
  • Determining the best method of payment for international transactions.
  • Weighing the pros and cons of cash-in-advance and open accounts.
  • Considering letters of credit and documentary collection options.
  • How to manage export working capital to meet growing customer demand.
  • How to utilize export credit insurance to gain and retain foreign customers.
  • Leveraging overseas private investment in foreign direct investment.

Do you need more info on trade finance? Our Trade Finance Guide is a great place to start!  ITA also offers two helpful videos that are all about getting paid and financing options available to U.S. companies beginning to export.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s