International Trade. Virginia Economic Development Partnership. Presented By: Ellen Meinhart

Transcription

1 International Trade Virginia Economic Development Partnership Presented By: Ellen Meinhart

2 Benefits of Exporting 2

3 WHY DON T MORE COMPANIES SELL INTERNATIONALLY? OLD ASSUMPTION NEW ASSUMPTION Exporting is too risky We can help you identify and reduce perceived risk Getting paid is cumbersome and I ll lose my shirt Exporting is too complicated Trade finance and global banking have evolved to the point where buying and selling things internationally is routine, safe and efficient. If you are running a business, you can export. You may need to learn some new rules of the game to compete but you can do it. My domestic market is secure. I don t need to export. Globalization is here to stay and you are competing with companies from all over the world. Your product and service will be much better by competing in the global marketplace. I m too small to go global. 30% of companies that sell overseas have less than 19 people My product or service probably won t sell outside the US I won t be successful because I don t speak another language and have never been abroad. If you have a best in class product with a USP, I can pretty much guarantee that there will be foreign markets that would love to buy it. We are lucky that English is the business language of the world and there are also interpreters if you need them. Every one of you can quickly become culturally savvy in order to maneuver in local markets. With a tiny bit of effort, none of us have to be Ugly Americans I have no idea where to turn for help Well you will in a minute because I am going to tell you where to find help. 3

4 What is VEDP- Intl Trade Mission: To increase international sales for Virginia Companies To expand Virginia s tax base and job base an international marketing organization for Virginia exporters 4

5 Trade Managers Joel Stopha Michael Howley Ellen Meinhart Monica Nichols Roger Porter Diane Thomas Jordan Watkins 5

6 Virginia s Exports 6

7 Customized Research Who is importing my product or service? Are there any regulations I need to be aware of? What is the best way for me to sell my product or service internationally? How do I find a local partner? 20+ More Topics 7

8 Global Network 75+ in-country consultants provide market research to Virginia companies Europe Belgium Bulgaria Croatia Czech Republic Denmark Estonia Finland France Germany Hungary Italy Ireland Latvia Lithuania Norway Poland Romania Russia Serbia Slovakia Slovenia Spain Sweden The Netherlands Turkey Ukraine UK Middle East & Africa Bahrain Israel Jordan Kuwait Oman Qatar Saudi Arabia South Africa UAE Other African countries Americas Argentina Brazil Canada Chile Colombia Costa Rica Mexico Panama Peru Asia Pacific Australia China India Indonesia Japan Malaysia New Zealand Philippines Singapore South Korea Thailand Vietnam 8

9 Trade Missions 9

10 Virginia Leaders in Export Trade (VALET) Program 50 companies accelerate their global marketing efforts through this program each year 92% average increase in international sales during the two-year program 10

11 VALET Program Program Benefits $30,000 toward export related expenses 25 program partners offering pro bono services Executive training International sales plan development Educational events Customized research (i.e. market analysis, technical assistance, competitive intelligence) 11

12 State Trade and Export Promotion (STEP) Grant Program $578,500 grant from U.S. Small Business Administration Increases the number of small businesses that are exporting Funds may be granted for: Travel to Market Programs Website Translation, Search Engine Optimization and Localization Utilization of U.S. Commercial Service Gold Key Services Featured Ad in Relevant Trade Publication For more information, contact Monica Nichols at

13 Virginia Conference on World Trade Oct 4 &, 2016 Sheraton Norfolk Waterside Hotel 13

14 Going Global Defense Initiative $1.8 million grant to help Virginia's defense companies diversify into new international markets. Eligible defense-related companies can receive assistance with, export compliance, matchmaking, digital localization, technical translation, and more. To determine eligibility, visit ExportVirginia.org/defense

15 Publications al-market-research/exporting-tos/ 15

16 VEDP International Trade ExportVirginia.org 16