Exporting is big business in California—$171.9 billion last year alone. The Golden State currently exports to nearly 230 foreign markets, with our neighbors Mexico and Canada placing #1 and #2 respectively. So what’s keeping your Company from taking advantage of global trade?
While exporting may not be right for all small and medium-sized manufacturers, for some it can be a way to grow your business significantly as well as your bottom line. After all, 95 percent of the world’s market lies outside of the United States. With competition becoming fiercer every day in our U.S. market, entering international markets can offset declines in domestic sales.
First, it’s important to realize that not only large manufacturers are expanding beyond their borders. In fact, 97 percent of goods exported are shipped by small and medium-sized businesses. You may be thinking, how did they know how to get started?
Exporting can be overwhelming. There are many considerations—from selecting the right global market to regulatory and legal issues. However, help is available. And, it’s not as difficult as you think. If you’re ready to expand internationally but don’t know where to begin, ExporTech can help your Company position for export success.
What is ExporTech™?
A collaboration between the Manufacturing Extension Partnership (MEP), the U.S. Commercial Service, and a variety of regional partners, ExporTech is an export corporate management program that’s been helping manufacturers enter or expand into global markets since 2006. Today, there are over 1,035 companies throughout the United States and Puerto Rico that have participated in ExporTech program. And, the results have been impressive:
- Participating companies average $500,000–$700,000 in new export sales
- Many generate export sales within 6 to 9 months of completing the program
- On average participants reported cost avoidance and investment savings of $91,000
- Total program impact has been nearly $500 million in increased or retained sales
How Does ExporTech™ Work?
This 10-week program leads manufacturers through a structured process to develop a strategic export plan which companies will implement. It combines group workshops with individual coaching for each manufacturers in three customized, innovative sessions:
Session 1: Export Strategy & Best Practices.
This explores the strategic options that are right for your particular manufacturing business.
Session 2: Mechanics of Exporting.
The focus shifts toward overcoming knowledge gaps and obstacles.
Session 3: Presenting and Vetting the Export Plan.
This final session involves presenting your export plan and receiving feedback from a panel of experts.
During ExporTech, participants are connected with global trade professionals that can help guide you with your go-to market plan and export growth plan implementation. ExporTech gives manufacturers access to experts in the following areas:
- NIST MEP network for assistance with managing manufacturing capacity and product development
- The U.S. Commercial Service for assistance with connecting you to global markets
- District Export Council with access to trade professionals
- International finance resources, including Export-Import Bank of the United States (EXIM Bank)
- Freight forwarders and 3rd Party Logistics providers
- Additional service providers
Support provided by these experts can help manufacturers save countless hours of unnecessary work and thousands of dollars.
How to Get Started
Getting your products to Mexico, Canada, and overseas markets is possible for most manufacturers, and ExporTech can help you navigate the sometimes tricky waters. Manufacturers in most industries benefit from exporting their products in global markets, including:
- Medical and Dental Equipment and Devices
- Food, including Equipment and Packaging
- Fashion, Apparel, Textiles, and Accessories
- Aerospace, Aircraft, Helicopter, Automotive, Environmental
- Cosmetics, Supplements, Healthcare, and Recreational Products
- And many more
ExporTech programs will begin in the following regions: Inland Empire (Corona), San Joaquin Valley (Fresno), Los Angeles, and San Luis Obispo. Cost is more affordable than you may think, and a Scholarship is available that makes getting started easier (with much less risk).
Imagine, in as few as three months, your company can be selling your products in global markets.