Exporting has provided an additional revenue stream for your company, made your company more profitable and evened out seasonality. What’s next? How about selling into a new market?
Country Commercial Guides from the International Trade Administration (ITA), part of the U.S. Department of Commerce, contain important information on eight factors designed to help you pick new global markets with confidence. Here is a recap from www.export.gov/ccg:
- Doing Business in…
Overview of the top reasons why U.S. companies should consider exporting to this specific market. Recommended strategies for entering this market and pitfalls to avoid.
- Political and Economic Environment
Background information on the country’s political environment and its relationship with the U.S.
- Selling U.S. Products and Services
Guidance for selling U.S. products and services in this market. Steps for establishing an office or joint venture. Discussion of the state of e-commerce and other marketing considerations.
- Leading Sectors for U.S. Exports and Investment
Overview of top industry sectors including trade data, challenges and resources for additional information.
- Trade Regulations, Customs and Standards
Description of trade regulations, customs and market standards including information on import tariffs and required documentation.
- Investment Climate Statement
Information on the country’s investment policies, labor market, political violence and levels of corruption as well as foreign trade zones and property rights laws.
- Trade and Project Financing
Information on the country’s financial system, how U.S. firms typically get paid and sources of project funding.
- Business Travel
Travel information including visa or entry requirements, potential health risks and travel advisories.
Additional resources:
Understanding Cultural Norms can Make or Break your Business
5 Ways to Get Paid for Exports and Mitigate Risk
Top 4 Tactics of Fast Growing Exporters
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