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How To Expand Your Small Business
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Article 6: Go Global
Expanding a local business to an international presence is ambitious, but also potentially enormously profitable. There are 6 billion people on earth.
But, exporters have special considerations that domestic businesses don’t.
For example, shipping a product overseas requires an exporter to be aware of special requirements for packing, labeling, documentation and insurance. Goods must be packed according to the foreign nation’s specifications and labeled to ensure they’re properly handled and will arrive where and when intended. It’s critical to properly insure against damage and loss, delay or pilferage. Exporters often rely on freight forwarders with international expertise to guarantee that these and other required services are provided.
To expand globally you’ll need a foreign distributor who can carry an inventory of your product to resell to domestic markets. You might find a foreign distributor with a local U.S. representative. But trade groups and foreign chambers of commerce located in the U.S. also are good places to search. Some American chambers of commerce have established presences in foreign countries and can connect you to distributors.
The U.S. government has an interest in helping companies find overseas markets. The U.S. Small Business Administration (SBA) provides export information and development assistance. Through the SBA, you can find trade counseling, training, legal assistance and helpful publications.
One SBA publication, "Breaking Into The Trade Game," gives an overview of exporting that includes advice about:
How to decide to become an exporter How to employ e-commerce tools How to identify appropriate international markets How to enter foreign markets
The book also discusses export transactions and financing, as well as the details of transporting goods internationally.
U.S. Export Assistance Centers (USEAC) are located in major metropolitan areas and serve as one-stop shops for small- and medium-sized business. Personalized assistance is also available from the U.S. Department of Commerce, the U.S. Export-Import Bank and other public and private organizations.
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