|
|
|
Exporter’s Resource Guide
How to find the resources your company needs to hit the road
|
Business New Haven
11/6/1995
By: Lori Green
|
For some businesses, increasingly fierce global competition ignites in management a frenzy for reducing staff, lavishly upgrading technologies and slashing benefits. For others it poses a challenge to expand and become world-class players.
Cutting overhead and operating costs often does bear short-term fruit, but finding and keeping customers is the goal of growth-oriented enterprises. In 1994 goods and services leaving the state for foreign markets rose for the fourth straight year to $5.9 billion. Here are some of the resources available to prospective exporters.
First Steps to Foreign Frontiers
Small businesses seeking to break into new markets abroad can begin with a call to the export center of the nearest Connecticut Small Business Development Center (CSBDC). Administered by the Department of Economic Development, the SBDC, along with the Service Corps of Retired Executives (SCORE), can assist in identifying markets, developing a solid export plan, and with referrals for export financing assistance. Contact Bill Eldridge at 203-234-7172 or Zaiga Antonetti at 203-241-4908.
The DED's International Division offers information on trade topics including a practical series of how-to seminars held in conjunction with the Department of Commerce and other sponsors. Topics focus on international market research, extending credit to buyers and other forms of financing exports, documentation issues and other legal aspects of doing business overseas. Seminars take place during the fall and spring and at the Hartford Graduate Center. Call 203-240-3530.
DED also provides direct information on upcoming trade shows and missions it coordinates. Says Nathan Karnes of International Trade: “Trade shows run across a variety of industries. We purchase booth space and carve it up to sell to other companies cheaper than they might have purchased it without the state.” A newsletter published six times a year is published by the DED and available free to businesses.
The National Trade Data Bank (NTDB) is a CD-ROM database bringing together international and export information produced by the U.S. government, including CIA country profiles, trade leads, foreign business contacts and statistics for thousands of products selling or sought in overseas markets. The NTDB is updated monthly and is available at more than a dozen libraries statewide, as well as on the Internet. Karnes can be reached at 203-258-4318. For details on international trade shows contact Sheila Leniart at 203-258-4276.
United Illuminating with DED provides services to businesses trying to penetrate offshore markets through its Intertrade program. Assistance includes financial incentives for companies participating in trade shows, workshops and onsite visits to local companies to determine exporting capabilities and needs. Contact UI's Tom Dudeck at 203-499-2829.
One of the most comprehensive compilations of exporting information can be found in the Connecticut Business & Industry Association's (CBIA) Resource List of Organizations Supporting International Trade. The directory includes contacts at the local, state, national and international levels. CBIA's International Trade Council provides a clearinghouse to members and consulting services related to international trade. Contact Peter Gioia or Kim Trumbore at 203-244-1900.
Learn the Ropes
Fairfield University's newly established Center for Global Competitiveness is dedicated to assisting Connecticut firms in locating and maximizing export opportunities through planning support and online access to trade information networks. The center is assisted in its mission by the Bridgeport Regional Business Council, CBIA, the Southwestern Area Commerce and Industry Association and DED. Contact Bharat Bhalla at 203-254-4000, ext. 2847.
Another organization promoting international trade is the Connecticut World Trade Association (CWTA) in Bridgeport. Part of a network of 303 world trade centers in 89 countries, CWTA offers programs, conferences and seminars on international businesses issues. Membership in the association costs $250-$2,000 a year depending on company size. In addition to receiving the association's newsletter, membership buys access to the CWTA network of more than 150 databases supplying information and market leads for international trade. Contact Jim Nicholas at 203-336-5353.
Teikyo Post University's International Business Center offers programs and courses on international marketing and finance. Recent seminar topics include Introduction to International Business, International Market Planning, Global Business Strategy, Credit Options for Exports, and How to do Business with India. Contact Judith Slisz at 203-596-4680.
Financing Exports and Getting Paid
Bank of Boston's Export School, part of the bank's Global Initiative program “to help 1,000 companies become new exporters by the year 2000 - and to double New England's export volume within a decade,” offers trade-related courses and seminars at the UConn Graduate Center in Stamford and in North Haven. The emphasis is on trade finance, cash management and foreign exchange concepts, but some market analysis and planning courses are also offered. Courses typically cost $75 including materials, and discounts are available for multiple registrations. Contact Susan Wheeler at 800-850-4579.
Also strong on financial issues and the importance of selling to creditable buyers internationally is the U.S. Small Business Administration (SBA). The SBA provides financial and business development assistance to companies establishing or expanding their global presence. Export loans are available under the SBA's guarantee program. The regular business loan program guarantees general-purpose working capital loans for a maximum of 25 years in amounts up to 90 percent of a bank loan up to $155,000, or 85 percent up to $750,000. There are also Export Revolving Lines of Credit available for up to 36 months, with longer-term financing (maturities cannot exceed 25 years) available for specific activities through the International Trade Loan Program. The Export Import Bank (Eximbank) via local lending institutions underwrites loans and guarantees, and offers export credit insurance coverage in a wide range of policies. A 1992 volume, Breaking Into the Trade Game: A Small-Business Guide to Exporting can be obtained at no cost by calling the SBA's Hartford office at 203-240-7400. For financing information ask for Bill Murray.
Dunlap of Connecticut Inc. provides overseas insurance coverage through international insurance specialists, primarily to small and mid-sized exporters. “Our clients' concerns are mainly product liability, the kidnap or ransom of employees, and cargo or ocean coverage,” says Dunlap President Joseph R. Blumberg. “Basic U.S. insurance contacts provide limited foreign coverage - generally only covering a suit if it is brought in the U.S. If a suit is brought overseas, you need international coverage, which is less expensive than here because they are not as litigious as we are.” Call 203-624-8550.
Another firm with a strong international focus is Johnson & Higgins, with offices in Hartford and Stamford. J&H provides overseas risk-management services. “Our clients are importing, exporting or setting up international services overseas,” says Dawn Karlson of J&H's international department. Common types of insurance of value to exporters covers trip/travel exposure for U.S. executives traveling overseas, product liability claims and foreign workers' compensation. The most active regions for the firm's Connecticut-based clients include the Pacific Rim and Mexico. Karlson can be reached at 203-241-8500.
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
