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Archive for category: International Trade

Part 4: The Who, What, Where, Why and How of Exporting in Business Why Export?

Blog, Featured News, International Trade, SBDC News

The Who, What, Where, Why and How of Exporting

by Selma Canas, CGBP | December 22, 2021

In this four-part series, we’ve covered the who, what, and where of exporting and I think we can all agree that export readiness does not happen overnight. Export readiness takes commitment, time, money and a lot of education. So, “Why Export?”

There are many reasons for a company to pursue exports. Companies that export grow faster, are more profitable and fail less than companies that do not export. Considering that 95 percent of consumers live outside of the U.S., companies who export have a greater potential for sales than those that do not.

Exporting can reduce a company’s dependence on the U.S. market. If the U.S. economy is down, you have other markets to sustain you. Exporting can extend a product’s life cycle. For example, technology becomes obsolete very quickly in the U.S. but maybe not in emerging markets. U.S. products have a competitive advantage because of their high quality.

Exporting may seem overwhelming but it is not impossible. According to the U.S. Small Business Administration (SBA), small businesses account for 97 percent of all U.S. exporters. With all the available resources to guide companies on how to export, new exporters do not need to go it alone.

Once the company has decided to purse exports and has identified a few target countries, management needs to decide on the market entry strategy. Strategies will differ depending on the product or service, the country, and the risk a company is willing to take.

A company may want to hire a sales agent in the target country and pay a commission, they may want to sell to a distributor and let them sell to their network of buyers, or may want to sell direct to their buyers. The U.S. Commercial Service is a great resource for determining the best market entry strategy. They produce country commercial guides with country specific information on how to do business, best entry strategy, top industries, trade finance, e-commerce, and so much more. These guides are an invaluable resource to learning how to sell U.S. products and services in a specific country.

Participating in tradeshows and trade missions play an important role in meeting the people you want to do business with in those target countries. At this time, the company needs to be ready to make sales. Marketing materials and digital presentations need to be translated to that country’s language. Pricing schedule should include import tariffs, value-added taxes, and shipping and import fees, even if these costs will be paid by the buyer, as the final price may be significantly higher than a local competitor.

Freight forwarders are an exporter’s best friend. The freight forwarder handles logistics and documentation for the exporter. Their services include preparing export documents, transporting goods to and from ports, determining import duties and taxes, performing due diligence, and much more. Freight forwarders can handle one or all of these services, depending on the needs of the exporter. It is a good idea to obtain quotes from several forwarders and learn about their services before choosing one.

It is important to seek the advice of your international attorney, banker and accountant before signing any contracts with buyers or distributors. You’ll want to discuss payment options, credit insurance, exclusivity, dispute resolutions, exit clauses, exchange fluctuations, taxes, etc.

New exporters should definitely take advantage of the many resources available to assist in the export process. The demand is there, the help is there, and the money is there. So, what are you waiting for… go global!

Read part one of series

Read part two of series

Read part three of series

 

Author

Selma Canas

Selma Canas

Canas, Consultants, International Consultants 2, Tampa

NASBITE Certified Global Business Professional (CGBP), Florida SBDC at USF, Tamp
Specialties: International Trade, Export Marketing Plans, Market Research

Selma Canas is responsible for guiding small businesses through the complexities of developing export marketing and international expansion plans and teaching seminars on basic international trade. She has developed more than 30 Export Marketing Plans during the past six years for local businesses, and participated in trade missions to Brazil, Chile, Canada, and the Dominican Republic. Canas has more than 15 years of experience in sales, marketing and customer service in a variety of industries, including freight forwarding, real estate and advertising. As a co-owner of Restaurant Guide USA, she increased sales and distribution points and tripled the size of the distributed product.

As a real estate broker-owner, Canas carved a niche in the Latin American community and had a career sales volume of more than $37 million. Canas earned her bachelor degree in economics from the University of South Florida. She is a NASBITE Certified Global Business Professional and holds an Export and Trade Counseling Certification from the U.S. Small Business Association. Selma earned Florida SBDC at USF Employee of the Year honors in 2016. She is a member of Toastmasters international and is fluent in Spanish and Portuguese.

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https://sbdctampabay.com/wp-content/uploads/2013/11/Selma-Canas.jpg 800 800 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2013-11-27 20:16:142022-07-26 02:19:48Selma Canas
https://sbdctampabay.com/wp-content/uploads/2022/01/who-what-when-exporting-series.png 750 1420 sbdclarry /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png sbdclarry2022-01-07 18:40:392022-01-08 02:52:38Part 4: The Who, What, Where, Why and How of Exporting in Business Why Export?

Part 3: The Who, What, Where, Why and How of Exporting in Business Where to Export

Blog, Featured News, International Trade, SBDC News

by Selma Canas, CGBP | December 22, 2021 In part two of this series, “Who Can Help,” I provided information on the many resources available to enterprises that are looking to expand internationally – the U.S. Commercial Service (USCS), Enterprise Florida (EFI), Global Tampa Bay (GTB) and the Florida SBDC at USF (SBDC). These resources […]

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https://sbdctampabay.com/wp-content/uploads/2022/01/who-what-when-exporting-series.png 750 1420 sbdclarry /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png sbdclarry2022-01-07 18:38:122022-01-08 02:53:52Part 3: The Who, What, Where, Why and How of Exporting in Business Where to Export

Part 2: The Who, What, Where, Why and How of Exporting in Business Who Can Help.

Blog, Featured News, International Trade, SBDC News

by Selma Canas, CGBP | December 22, 2021 Exporting is a team effort, as I alluded to in part one of this series, What is Exporting?. Exporting is a growth strategy for a company that is already successful in their domestic business. When building the internal expansion team, management will need to determine the number […]

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https://sbdctampabay.com/wp-content/uploads/2022/01/who-what-when-exporting-series.png 750 1420 sbdclarry /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png sbdclarry2022-01-07 18:35:162022-01-07 19:01:24Part 2: The Who, What, Where, Why and How of Exporting in Business Who Can Help.

Part 1: The Who, What, Where, Why and How of Exporting in Business What is Exporting?

Blog, Featured News, International Trade, SBDC News

by Selma Canas, CGBP | December 22, 2021 These are the most common question threads right now on the Internet regarding, “exporting in business” and, coincidentally or not, these are the same questions I get from clients. Who can help me? What is exporting? Where should I export? Why export? How does exporting work? My […]

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https://sbdctampabay.com/wp-content/uploads/2022/01/who-what-when-exporting-series.png 750 1420 sbdclarry /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png sbdclarry2022-01-07 18:31:482022-01-07 19:01:51Part 1: The Who, What, Where, Why and How of Exporting in Business What is Exporting?

The New Dynamics of Global Trade: Dealing with Surging Challenges

Blog, Featured News, International Trade, SBDC News

by Pablo Arroyo | August 3, 2021 The COVID-19 pandemic has brought about tremendous challenges. Companies in the United States were not isolated from the effects of the pandemic. The hardships faced by business owners here were replicated around the globe. Specifically, firms dependent on global trade for acquiring components, inventory, or selling their products […]

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https://sbdctampabay.com/wp-content/uploads/2021/08/dynamics-global-trade.png 370 700 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2021-08-09 13:29:562022-01-08 20:30:17The New Dynamics of Global Trade: Dealing with Surging Challenges

FAQ: Trademarking Your International Business

Blog, Featured News, International Trade, SBDC News

by Selma Canas | October 9, 2020 Recently we discussed the importance of business owners trademarking their business. It doesn’t matter if a business is local or nationwide, protecting a company’s image by implementing a trademark is key for any business. Again, when a company applies for a trademark or a service mark, they are […]

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https://sbdctampabay.com/wp-content/uploads/2020/10/international-trademarking.jpg 702 1326 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2020-10-12 16:12:232021-12-30 17:52:18FAQ: Trademarking Your International Business

Determining the True Cost of Importing

Blog, Featured News, International Trade

by Selma Canas | February 4, 2020 When traveling to different countries and becoming immersed in new cultures, it is easy to get swept away and may inspire many entrepreneurs to want to bring a little piece of the trip home to share. From unique products to lower labor costs, there are many reasons why […]

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https://sbdctampabay.com/wp-content/uploads/2020/02/importing-costs-scaled-1.jpg 1353 2560 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2020-02-05 02:33:182021-12-30 17:52:45Determining the True Cost of Importing

Leap into International Water with the Export Marketing Plan

Blog, Featured News, International Trade

by Shaunda Wickham | May 31, 2019 Dipping a toe into the international market often can be an overwhelming and daunting experience for a small business owner. Depending on the country, he or she can be faced with barriers unlike anything experienced domestically. The challenge is that smaller companies don’t have enough resources to do […]

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https://sbdctampabay.com/wp-content/uploads/2019/05/emp-services-international-trade.jpg 771 1164 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2019-05-31 21:35:112021-12-23 01:07:12Leap into International Water with the Export Marketing Plan

Service Exports Not Slowing Despite U.S. Trade Issues

Blog, Featured News, International Trade, SBDC News

by Selma Canas | August 24, 2018 There’s been a lot of mention in the news these days of international trade, primarily trade wars, imposing tariffs and a trade deficit, which doesn’t sound good by any means. At times, it can even sound scary. These talking points are mostly referring to importing and exporting of […]

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https://sbdctampabay.com/wp-content/uploads/2018/08/image-180828033927.jpg 563 563 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2018-08-28 19:34:362021-12-30 17:54:15Service Exports Not Slowing Despite U.S. Trade Issues

The Caribbean: Much more than vacation resorts

Blog, Featured News, International Trade, SBDC News

by Selma Canas | August 22, 2018 There is an abundance of opportunities for U.S. businesses, especially from Florida, to export their products and services to the Caribbean Islands. “They import everything they need due to being small markets,” Sheila Diaz de Andujar, Senior Commercial Specialist for the U.S. Commercial Service in the Dominican Republic, […]

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https://sbdctampabay.com/wp-content/uploads/2018/08/the-caribbean-usf-sbdc.png 788 940 admin /wp-content/uploads/2021/10/Locked-Host-Logos-Horizontal-USF-Small-e1635274663378.png admin2018-08-28 19:14:102021-12-30 17:54:44The Caribbean: Much more than vacation resorts
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