Export Business Opportunities 2017

Export Business Opportunities 2017 Are you thinking about exporting your goods or services abroad because you’re being pulled in by international buyer interest? Are you looking to find new cash flow streams? These are some major questions that businesses face, but pulling the trigger to export is not easy for many. EXIM Bank is committed to helping businesses thrive in 2017 by educating them on how to grow sales abroad while mitigating the risk when dealing with foreign buyers. We’ve already covered reasons why U.S. companies should export in our blog1, therefore, this eBook will identify government products that will help jump start your company’s foreign sales in the short-term. Committed to Helping You Thrive Protect Your Business Markets go up and down; governments are in or out; and currencies fluctuate. Uncertainties in a market can wreak havoc for small businesses that export. To learn more about how EXIM can protect your business, visit the Export Finance Solutions Blog2 . 1. grow.exim.gov/blog/five-reasons-why-us-companies-should-export 2. grow.exim.gov/blog/protect-against-comercial-and-political-risk exim.gov | 2 Export-Import Bank of the United States Are You in the Early Stages of Preparing Your Business to Export? Small Business Development Center (SBDC) There are over 60 networks and over 1,000 centers across the U.S. aimed at providing counseling to small businesses on things such as business plans, marketing, international trade, production, feasibility studies, etc. Learn More1 SCORE Association A nonprofit that is made up of thousands of volunteers and retired business executives. They serve as counselors, advisors and mentors to business owners and entrepreneurs who are seeking guidance and/or have questions about how to grow their business. Learn More2 If you’re in the early stages of preparing your business to sell abroad, or you’re looking for general counseling and advice, please read and follow the links below: EXIM Bank: Export Finance Solutions EXIM Bank is a one-stop shop for all of your export finance questions3. Are you looking to free up cash to fulfill that export order? Are you looking to get insurance on your export invoices in case your foreign buyer can’t pay? EXIM can help reduce nonpayment risks substantially when selling abroad. IC-DISC: Tax Incentive Many small businesses are not aware that there is a tax incentive for exporters4 called “IC-DISC.” It applies to companies who manufacture, produce, grow or extract within the U.S. and want to sell abroad. The tax incentive helps reduce federal income tax, improve your competitive advantage and it’s completely non-invasive to normal business operations. Export Legal Assistance Network (ELAN) ELAN is one of the most underutilized assistance programs out there. Businesses tend to seek out export legal counseling5 after an incident has happened, such as a legal dispute over a contract or invoice. However, this cooperative program was created to help small businesses avoid any legal situations before they export and the initial consultation is free. 1. www.sba.gov/offices/headquarters/osbdc/about-us 2. www.sba.gov/tools/local-assistance/score 3. grow.exim.gov/contact-a-trade-finance-specialist 4. grow.exim.gov/blog/money-saving-programs-for-exporters 5. grow.exim.gov/blog/money-saving-programs-for-exporters exim.gov | 3 Export-Import Bank of the United States Are You Looking to be Seen by Foreign Buyers? If you’re looking to participate in specific programs and events that help get your small business in front of foreign buyers, please read and follow the links below: Small Business Administration Economic Development Office: STEP Program The State Trade Expansion Program1 (STEP) provides financial assistance to small businesses across the U.S. looking to expand abroad. The extra money helps them participate in trade shows, trade missions, design international marketing campaigns, etc. Department of Commerce Gold Key Service Gold Key2 is the match.com of exporting. It’s run by the Department of Commerce and it’s a cost-recovery fee based program that matches small businesses with interested foreign buyers, partners and distributors abroad. International Buyer Program (IBP) If you’re a small business willing to attend or exhibit at a domestic trade show with international presence, this program is for you. The IBP program3 typically selects 25-35 industry-specific trade shows a year and a small business can arrange meetings at these shows with vetted international buyers through the Showtime4 program. Trade Missions Participating in organized trade missions5 abroad is a great opportunity for businesses to meet foreign buyers using the U.S. Commercial Services’ network and foreign industry knowledge. 1. grow.exim.gov/blog/the-state-trade-expansion-program 2. grow.exim.gov/blog/benefits-of-express-insurance-for-gold-key-customers 3. grow.exim.gov/blog/finding-buyer-and-partners-international-trade-shows 4. Exhibitors who register for our Showtime program will meet with global U.S. Embassy and Consulate Industry Specialists attending the show to receive country-specific information on their selected markets. Final schedules will be sent via email and will be delivered to your booth at the show. 5. 2016.export.gov/trademissions/index.asp exim.gov | 4 Export-Import Bank of the United States EXIM and Small Businesses If your small business is ready to begin selling abroad, or looking to expand into additional foreign markets, contact one of our EXIM Bank trade specialists today! grow.exim.gov/contact-a-trade-finance-specialist Helpful Export Information: EXIM.GOV exim.gov For more in-depth information about EXIM, visit our website. grow.exim.gov/eci-ebook Learn how to protect your foreign receivables from bad transactions. GUIDE TO EXPORT CREDIT INSURANCE BASIC GUIDE TO EXPORTING grow.exim.gov/basic-guide-to-exporting Learn the basic fundamentals of exporting and turn export opportunities into sales.