Have you gotten a call from a new potential customer who happens to be located outside of the United States? You want the business, but is it a smart play? Fortunately, help is here in the form of free government resources for small business exporters – a comprehensive set of tools to get started.
Top Markets: A Market Assessment Tool for U.S. Exporters
Thinking about your next market? The International Trade Administration’s Top Market Series is a free, online series of reports that ranks future export opportunities within industry sectors. The reports provide a detailed assessment of market factors including the competitive landscape within a sector as well as the opportunities and challenges U.S. exporters can expect to face. From aircraft parts, to cloud computing to pharmaceuticals and renewable energy, the 27 sector specific reports are packed with valuable market intelligence.
The U.S. Small Business Administration has a wealth of resources for exporters. Start with their free online course to develop a business strategy for exporting and evaluate your company’s export readiness. Then look at programs like the State Trade Expansion Program (STEP) to learn about funding available to launch or expand your exporting program.
For early stage companies, the Small Business Development Centers (SBDCs), a partnership between the SBA, universities and state economic development agencies, provide a variety of free consulting and low-cost training services including:
- Business plan development
- Procurement and contracting aid
- Market research
Finally, SCORE, a nonprofit association of volunteer business counselors located throughout the United States, is another of the SBA’s many resources for small businesses. With over 13,000 counselors across the country, seasoned executives are there to help maximize the success of your business.Learn How to Grow Revenues while Mitigating Risk
Talk with your local EXIM Bank representative to learn about the role export credit insurance plays in protecting small businesses from the risk of nonpayment by international buyers. During free consultations, EXIM Bank educates small business exporters on the top three reasons to have export credit insurance:
- Risk Protection - protect receivables from nonpayment by international buyers due to political or commercial reasons
- Sales tool – offer competitive terms to foreign buyers (generally up to 180 days, some products may qualify for 360 day terms)
- Financing Aid – insured receivables may be added to your borrowing base by assignment of policy proceeds to a lender
Your local EXIM representative is available to discuss your exporting needs. Reach out for your free consultation today.