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Resource Guide for Exporters
The longest (export) journey begins with a single step: Talk to the pros
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Business New Haven
10/7/1996
By: Lori Green
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Export Revenues Continue To Climb
According to second-quarter figures released by the Department of Economic Development's Industry Cluster & International Division and analyzed by Connecticut Economic Resource Center (CERC) economist Jeff Blodgett, manufacturing accounts for about 93 percent of all Connecticut exports.
Exports rose by more than $95 million during the first quarter of 1997 compared with the same period in 1996, a 5.3 percent increase but still below the average 8.6 percent U.S. growth rate for the same period. Among top ten industries, the largest year-to-date gain was in transportation equipment ($150 million), and the sharpest decline in chemicals and allied products (down $60 million). The state's service sector exports, a key area of export growth, are not yet available.
The states' three major export markets are NAFTA countries, receiving nearly 29 percent of total exports, Western Europe at 28 percent and East Asia at about 15 percent. This geographical distribution mirrors that of the U.S. at large.
Canada is the state's leading trade partner, absorbing $1.7 million worth of Connecticut goods in 1996, now up 14.3 percent in second quarter year-to-date comparisons. Connecticut ranks 24th among states in volume of exports, but trails only Massachusetts in total value of exports in New England.
First Stops
An updated guide to programs and services available to Connecticut exporters entitled A World of Help for Your Export Business is near completion and will be published by the Department of Economic & Community Development (DECD) and the Connecticut Economic Resource Center (CERC), a private entity sponsored primarily by the state's utilities.
The guide, which includes many of the sources below, presents comprehensive information on nearly every facet of exporting, with particular attention to the needs of small and mid-size businesses, both with existing export operations and those seeking entry into foreign markets. A call to CERC at 1-800-392-2122 is a fine place to start.
DECD's Program Planning & Evaluation Division offers foreign market analyses, international trade and market data, export statistics, export/import contacts abroad, Connecticut export reports and an international trade library. Located in Rocky Hill, the office can be reached at 860-270-8166.
The U.S. Department of Commerce's Export Assistance Center in Middletown at 860-638-6950 offers a variety of services to existing small and medium-sized firms (startups can contact one of the Connecticut Small Business Development Centers). Individual counseling is available free to exporters, while the agency's other services are fee-based. Programs include customized market analyses of sales potential, competitors, distribution channels, pricing, licensing and other regulatory information. Also offered are international company profiles that evaluate the suitability a prospective overseas trading partner, trade fair and exhibition certification and on-site assistance.
Financing
Connecticut banks with full-service international divisions that support various federal Eximbank programs include BankBoston (860-727-6561), First National Bank of New England (860-241-2565) and First Union National Bank's New Haven office (contact John Richards at 203-401-5871). First Union offers letter of credit processing and an “Export Express” product that manages international receivables for middle-market companies with at least $5 million in export sales. Chase Manhattan Bank of Connecticut (contact Robert Adamsky at 203-382-5311) provides export finance including foreign exchange services, overseas credit facilities and any credit arrangement needed by small to mid-sized businesses.
The Connecticut Development Authority (CDA) (1-800-392-2122) is a quasi-public agency that provides guaranteed bank loans and direct loans in support of bank loans.
The U.S. Small Business Administration (SBA) (in Hartford 860-240-4654; in Washington D.C. 1-800-827-5722) publishes an indispensable handbook entitled “Breaking Into the Trade Game: A Small Business Guide to Exporting”available at no charge by calling the SBA.
Planning, Marketing & Education
The University of Connecticut Center for Internal Business Education & Research (CIBER) (860-486-5458) focuses primarily on global technology management to increase competitiveness of U.S. businesses in the world market; Also at UConn, the Small Business Development Center Export Services Center & Export Assistance Program (860-486-4135, http://www.sbdc.uconn.edu) offers mentoring, market research, product studies, distributor and channels information, warehousing and assistance with identifying proper export procedures.
Teikyo Post University's International Business Center in Waterbury (203-596-4681) has research capabilities such as the National Trade Data Bank (NTDB), on-site language assistance and a host of contract training programs on global marketing and financial issues.
Access International (1-800-392-2122), which is scheduled to be up and running by November, is a CERC-coordinated program designed to function as a point of entry for businesses in need of trade information. A toll-free phone number will connect participating businesses with the state's most comprehensive data base of consultants, suppliers, services and support.
The Export Yellow Pages is available from the U.S. Department of Commerce (860-638-6950) for the cost of postage. It contains sections on export services, trading companies, technical services and products. A supplement directory called the Green Pages includes export companies involved with environmental products.
Exporters Networks
The Connecticut Business & Industry Association (CBIA) (860-244-1900, http://www.cbia.com) operates an International Trade Council (ITC) clearinghouse of information and provides services to CBIA members, many free of charge.
The Connecticut Foreign Trade Association (CFTA) (203-406-6628) promotes trade by providing a forum for members to exchange information.
The Connecticut World Trade Association (CWTA) (203-336-5353, http://www.metrohartford.com) is a central resource for information, contacts and programs to promote two-way international trade. The CWTA operates an extensive Internet-based system which enables users to post offers to buy and/or sell any product or service, conducts seminars on trade issues and hosts guest speakers on trade topics.
Trade Routes (203-499-2829), sponsored by United Illuminating, assists exporters within UI's service area with information on foreign markets and trade shows and offers free access to trade databases.
The World Affairs Council (860-594-4100) provides a forum for people interested in international business culture and politics and plays a leading role in advancing trade and global education in the state.
ISO 9000
The Connecticut Department of Labor offers funding for ISO 9000 training through its area Employer Service Units. Contact CERC (800-392-2122) for referral.
Central Connecticut State University's Institute for Industrial & Engineering Technology (IIET) offers ISO 9000 certification information. Contact Richard Mullens (860-827-4478) or Alan Kendrix (860-827-4471).
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