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The international marketplace is a $4 trillion opportunity waiting to happen. For many small businesses, exporting makes good business sense. Exporting products overseas can open up new markets and help companies in ways that they had never anticipated.
It's no longer true that you have to be a huge multi-national corporation to be a successful exporter. The opportunities for small businesses to expand their markets overseas have never been greater. Most businesses in North Dakota don't export because they don't know what exporting involves and aren't sure that they are ready. Sometimes all it takes for a company to become a successful exporter is someone to help them start. The North Dakota Small Business Development Center can do a great deal to help you assess your export readiness.
| Taking the first step: |
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The first step is to review your current marketing plan. Before making a final decision on entering a foreign market, it is a good idea to determine where exporting will fit into your company's overall goals.
Developing foreign markets can help a company in many ways. Increasing total sales through new clients overseas can help achieve economies of scale and improve production costs. Developing foreign markets for products helps smooth out the seasonal ups and downs for domestic demand and protect against the effects of local recessions. For products that have been supplanted by more technologically sophisticated models in the US, foreign markets can give new life to a fundamentally sound, but old-fashioned product.
During our initial assessment process, we will help you determine what kind of assistance you need to achieve your exporting goals. Maybe you have questions about putting together a strategic plan, finding sources of capital to help finance your entry into exporting, or maybe you need help locating market information. Whether you already export or are still in the planning stages, we can help you face the challenges of entering foreign markets. In addition to our own counseling staff, we can connect you with specialists at the university and in both public and private enterprises.
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| Finding market information: |
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Many American-made products do very well overseas. But that does not mean that all products will do well. Selling products overseas requires the same kind of market research that a company would perform before selling in new areas inside the U.S. There are many questions that should be answered. Is the product unique? Is there a market for it? Does it need to be modified to meet foreign tastes and regulations? Your business needs up-to-the-minute information. We may link you to hundreds of databases providing current market, technical and business information. |
| Answers to your legal questions: |
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The North Dakota Small Business Development Center also serves as a point of contact to ELAN - the Export Legal Assistance Network. Under an agreement between the Federal Bar Association and the U.S. Small Business Administration, small businesses preparing to export will receive a free consultation to answer international trade questions such as agent/distributor agreements, export license requirements, credit collection procedures.
Exporting can be a valuable tool to help you achieve business success. For more information on how we can help you get ready to export, call the ND Small Business Development Center at 1-800-445-7232.
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Last Updated ( Tuesday, June 24, 2008 )
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