International Trade Virginia Economic Development Partnership - PowerPoint PPT Presentation

International Trade Virginia Economic Development Partnership Presented By: Ellen Meinhart

Benefits of Exporting 2

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 Trade finance and global banking have evolved to the point where buying and selling things internationally is routine, safe and efficient. Exporting is too complicated 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 If you have a best in class product with a USP, I can US pretty much guarantee that there will be foreign markets that would love to buy it. I won’t be successful because I don’t speak another We are lucky that English is the business language of the language and have never been abroad. 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

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

Trade Managers Michael Howley Joel Stopha Ellen Meinhart Monica Nichols Roger Porter Diane Thomas Jordan Watkins http://exportvirginia.org/contact-us/staff-directory/ 5

Virginia’s Exports 6

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

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

Trade Missions 9

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

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

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 MNichols@YesVirginia.org

Virginia Conference on World Trade Oct 4 &, 2016 Sheraton Norfolk Waterside Hotel www.VACWT.org 13

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

Publications http://exportvirginia.org/internation al-market-research/exporting-tos/ 15

VEDP – International Trade ExportVirginia.org 16