Getting the right information is crucial to enable a successful export strategy or refine an existing one. There are many free resources available to U.S. businesses, however obtaining this information sometimes requires some internet research and contacting the right individuals once you find the agency you are looking for. Your local U.S. Export Assistance Center (USEAC) can help you access the three main Federal export promotion agencies under one roof; but what about State agencies?
Wouldn’t it be great if you could meet with all these agencies at one time and place and have one-on-one meetings on export advice from the experts? What about the opportunity to network with contacts at these agencies as well as private sector financial institutions and insurance underwriters?
The Wisconsin Economic Development Corporation (WEDC), a member of EXIM Bank’s Regional Export Promotion Program, thought so and recently hosted a “Financial Assistance for Global Market Expansion Road Show." The objective of the Road Show was to address two pain points often cited by exporters doing business abroad – complexity and cost. The Road Show stopped in eight locations delivering targeted seminars on the many sources of federal and state funding available. The seminars provided local exporters the opportunity to schedule individual meetings with export experts on how to achieve the best export strategy. Representatives were on hand from the following federal and state organizations as well as private sector organizations:
- Wisconsin Economic Development Corporation (WEDC)
- The Export- Import Bank of the United States (EXIM)
- The Small Business Administration (SBA)
- The U.S. Commercial Service (USCS)
- Wisconsin Department of Agriculture, Trade & Consumer Protections (DATCP)
- America’s Small Business Development Center Wisconsin (Wisconsin SBDC)
- Wisconsin Center for Manufacturing & Productivity (WCMP)
- Local World Trade Associations
- Wisconsin Technical Colleges
- Local Financial Institutions
In direct response to the main exporter "pain" points, the Road Shows included information and advice on how to lower costs and simplify the exporting challenge. Panel presentations, round table discussions and individual meetings afforded attendees the chance to learn:
- How to access funds for trade trips and trade shows.
- Which foreign buyers to meet.
- Where to find information on foreign buyers, which markets to target for key local industries and issues and concerns on managing credit risk.
- What is needed to obtain small business loans, credit, and international trade finance and choosing the right payment method.
- Which risks need to be covered and how to mitigate nonpayment risk.
Check with your local U.S. Export Assistance Center (USEAC), State Economic Development Corporation, or Small Business Development Center to find out about Road Shows that may be coming to your door step.
To learn more about EXIM finance products that can help you achieve your export strategy goals contact a trade finance specialist today.