BY TIM RONALDSON | Business Trends
You’ve heard the saying “we live in a global society.”
You know that technology has connected the world like never before.
You’re told the world is getting smaller, that it’s going to continue to get even smaller, through new ways of doing business.
But the fact remains that overseas is still overseas, and expanding your company into international business presents challenges that domestic business does not.
To help local manufacturers, the U.S. Department of Commerce offers a variety of programs that do everything from educate the newcomer to the exporting business to matching the veteran exporter with international buyers.
“We like to say that 95 percent of the world’s consumers live outside of the United States,” said Jetta DeNend, international trade specialist for the U.S. Export Assistance Center, the local office of the Department of Commerce that handles Staten Island and parts of Manhattan. “Certainly, today, if you’re not looking outside of your own country, you’re missing a lot of opportunities.”
Incorporating international business into your repertoire can be a daunting task, DeNend said, but that’s what her office is for – to help mitigate the risk and assist companies with exporting. The U.S. Export Assistance Center, located on Whitehall Street in Manhattan, has five trade specialists divided by industry and helps local companies export products overseas by providing market research, aid in finding international distributors and partners, general guidance on standards and regulations, general counseling on exports, and seminars and other trade-related events. The center works on both sides of transactions to help increase business overseas.
“The purpose of our organization is to grow U.S. business and create U.S. jobs,” DeNend said.
The Department of Commerce certifies trade shows that bring in a delegation of foreign buyers, allowing exporters to showcase their products.
At the shows, the department also offers free counseling to potential exporters, providing something for all businesses, no matter what stage of exporting they’re in.
The center also offers fee-based Gold Key Programs where appointments are set over two to three days with pre-qualified international buyers. The appointments are done on a country-by-country basis, or are regional for larger countries such as Russia, China and Mexico, DeNend said.
The U.S. business fills out an application that describes what they’re looking for – a distributor or buyer, for example – and the Department of Commerce finds the right matches and contacts the overseas companies to see if they’re interested.
Recently, one of DeNend’s clients, a vitamin supplement company, used three Gold Key programs for Singapore, Malaysia and Thailand, and was able to find a buyer for all of Southeast Asia.
DeNend said the center’s recent focus has been on small businesses that are new to exporting. While the center uses the Small Business Administration’s definition of small business as one that has 500 employees or fewer, DeNend says she has clients that range from a “one-man band” to larger companies. The only requirements are that the company is U.S.-based, is registered with one of the states, and the product they intend to export is at least 51 percent U.S. content.
If you’re new to exporting, DeNend recommends you reach out to her office, where, after establishing your goals, they’ll help you do some market research and find the best potential international markets to target.
Working with international partners, the center will be able to provide you with reports that are written by overseas industry specialists who know the wants and needs of his or her country and how your product might fare.
“It’s very country specific,” DeNend said of exporting. “Every market is very different.”
DeNend also recommends new exporters visit www.export.gov, which houses detailed market research reports as well as information regarding just about anything to do with exporting – from Intellectual Property Rights issues and guidance on how to fill out applications to listings of upcoming events. Potential exporters can also visit the Export Assistance Center’s Web site, www.buyusa.gov/nyc, or call them directly at (212) 809-2675.
“There are a lot of things involved, but if you work it out…and be proactive instead of reactive, you can be ahead of it and really take advantage,” DeNend said.
Wed, Mar 3, 2010 at 12:30 pm
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