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Growing Globally

Growing Globally. Maria Clara Yepes David Noel. Agenda. Industry overview Reasons for going global Planning to go global Export/Import process overview. Industry Overview. It is a great moment to Export! President Obama has launched the National Export Initiative. Industry Overview.

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Growing Globally

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  1. Growing Globally Maria Clara Yepes David Noel

  2. Agenda • Industry overview • Reasons for going global • Planning to go global • Export/Import process overview

  3. Industry Overview It is a great moment to Export! President Obama has launched the National Export Initiative

  4. Industry Overview Exports “…Trade increased substantially over the decade, with exports up from $1.10 trillion in 2000 to $1.83 trillion in 2010” (SBA 2008 and Census 2010)

  5. Industry Overview Exports Small businesses constituted 97.5% of exporters, and they accounted for 31.3% percent of the total dollar value of goods export transactions (ITA, 2008)

  6. Industry Overview Exports US Top Export Markets (Goods) • Canada ($248.8 billion) • Mexico ($163.3 billion) • China ($91.8 billion) • Japan ($60.5 billion) • United Kingdom ($48.4 billion) (U.S. Dept. of Commerce, 2010)

  7. Industry Overview Exports Florida Top Trading Partners (FL-Origin) • Switzerland • Brazil • Canada • Venezuela • Colombia • Mexico • Chile • DR • Paraguay • Peru • (EFI, 2010)

  8. Industry Overview Exports Florida Top Exports (FL-Origin) • Industrial Machinery • Electric Machinery • Pearls, Precious Stones and Metals • Air/Spacecrafts • Optical/Medical Instruments • Vehicles & parts • Fertilizers • Plastics • Essential Oils, Perfumery, etc. • Toys, Games & Sports Equipment • (EFI, 2010)

  9. Industry Overview Imports In 2010, the value of imports increased to $2.3 trillion. (Census, 2010)

  10. Industry Overview Imports US Top Import Partners (Goods) • China ($364.9 billion) • Canada ($276.4 billion) • Mexico ($229.6 billion) • Japan ($120.3 billion) • Germany($82.6 billion) (U.S. Dept. of Commerce, 2010)

  11. Industry Overview Imports Florida Top Import Partners (Merchandise) • China • Japan • Colombia • Mexico • Costa Rica • Chile • Brazil • Honduras • France • DR • (EFI, 2010)

  12. Industry Overview Imports Florida Top Imports (Merchandise) • Electric Machinery • Mineral Fuel, Oil • Vehicles & Parts • Industrial Machinery • Pearls, Precious Stones and Metals • Knit or Crochet Apparel • Copper • Fish and Seafood • Special Classification Provisions • Non-Knit Apparel • (EFI, 2010)

  13. Reasons for Going Global • Grow your business • Avoid changing domestic conditions • Access to lower cost structures • 95% of world population is outside the U.S.

  14. Reasons for Going Global “Companies that export grow 15% faster, pay 15% higher wages and are 12% more profitable” (EFI, 2011)

  15. Reasons for Going Global Location, location, location!!! • #4 state in total state-origin exports • #3 state in “high tech” exports ($15.1 B) • 1.3 million jobs supported (1 of every 5) • 14 deep water seaports • 19 commercial service airports • (EFI, March 2011)

  16. Planning to go Global Identify products/services Identify foreign markets • Culture • Legal requirements • Economic, political or credit risk Analyze how to sell in each market • What is your role? • Direct or indirect?

  17. Planning to go Global IS IT FEASIBLE???? • Landed Cost Analysis • Break Even Analysis • Competitiveness Analysis

  18. Planning to go Global Critical Requirements • Management commitment • In-depth experience with the product or service • Capacity and capability to produce international products or provide the service • Ability to invest into the process

  19. Process Overview • Product Coding • Schedule B • Harmonized Tariff Schedule • Licenses • Bureau of Industry and Security (BIS) • US Customs and Border Protection (CBP) • Logistics & Documentation • Freight Forwarders • Import Brokers

  20. Process Overview • Incoterms • Determine the TERMS OF SALE • Examples: EXW, FOB, CIF • Payment Terms • Cash in advance • Letters of credit • Collections • Open Account

  21. Questions?

  22. Thank you!! www.sbdctampabay.com 813-905-5800

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