Expansion

To Export or Not - 6 Questions to Ask and Answer

1. Is my business ready to export? Create an account at export.gov and complete the free “Export Readiness Self-Assessment” to determine if your small business is truly in a position to expand into global markets at this time.

2. Do I know what I’m doing? Start learning the ins and outs of exporting before you take the plunge. An excellent customizable tool to help you work your way through the export planning process step-by-step is the U.S. Small Business Association’s “Export Business Planner.” It’s available for download free at sba.gov/exportbusinessplanner.

3. Do I have a plan? A written export business plan will help you define your company’s current status and commitment to global marketing by forcing you to assemble facts, identify constraints and set specific goals and objectives for exporting success.

4. Have I done my homework? You wouldn’t take a vacation overseas without doing some research in advance, and the same can be said for your products or services. Know what you’re getting into by researching potential markets, trade barriers, regulations and other exporting details that are specific to the country you have in mind.

5. Have I found any buyers? Federal, state and local governments continually organize export events, such as foreign trade missions and targeted trade shows that put U.S. sellers and foreign buyers into direct contact with one another. Enterprise Florida is a good source of these opportunities.

6. Can I afford this? Numerous export loan programs, grants and other financing opportunities are available at the state and federal levels to help your company finance its global marketing activities, ensure foreign payment and manage risk. The SBA’s “Export Business Planner” has a complete chapter devoted to this topic.

Tags: Florida Small Business, Ways to Grow Your Business