Sunday, January 29, 2012

Import Export Business Questions And Answers

In recent months one of the most commonly asked questions I have been receiving about the Import Export Business Toolkit training course is from non-USA residents who are rightfully concerned that the information provided in the course will not be helpful to them.

My general reply is that the Importing course part of the toolkit is more USA centric than the Exporting part.  Overall the toolkit is composed approximately 30% on starting an Importing business and 70% on starting an Exporting business.

I feel the Exporting business holds far more opportunity for success in International trade in the USA right now and for that fact most of the world.  There is far more help and assistance available for an exporter from both business and government organizations than there is for an importer.

One note I would also commonly answer to inquiries about how useful the exporting information is to someone outside the USA was that the only portion that would "not" be useful would be the USA government and business organizations that provide support to exporters.

Beyond these USA government and private organization office addresses, phone numbers etc that are in the course, the course covers everything anyone anywhere in the world needs to start and operate an exporting business. Period

Then an email arrived in my inbox about two weeks ago that made me question that I may be wrong about Non-USA persons not being able to benefit from USA government and private business organizations exporting business assistance.

I will post the body of the message I received at the end of this post and as you will clearly see when you click over to the USA government office that the email came from, you can benefit from their export assistance.

The short email received was about National Export Initiative Priority Markets: Vietnam and there is a short video at their website along with other information that is extremely helpful to "any" exporter looking for new markets or to expand into markets they may already be selling into.

So my view has now changed, primarily due to the Internet.

The evolution of the Internet has brought information that once had to be sent my mail or other means and in an effort to get the latest and best resources into the hands of exporters, both government and private organizations are posting it freely on their websites.

In many instances, you can sign up for free email notifications to be informed at the moment any new valuable resource comes available.  With so many free email accounts being used, anyone with Internet access and an email address can now access just about ALL the resources that a USA exporter has available.  The Internet has really opened the door to anyone in the world to benefit from the export business resources that were once exclusive to USA exporters.

So from now on, my answer will be different than before.  Now here is the basic text of the message that brought about this post - remember, most of the resources listed in the course have websites and have email notifications or newsletters you can sign up for.....

National Export Initiative Priority Markets: Vietnam

The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration. U.S. Commercial Service trade professionals in over 100 U.S. cities and in more than 75 countries help U.S. companies get started in exporting or increase sales to new global markets. *So far this year, we have helped American business achieve 6,400 export success stories.* This is a featured video from the National Export Initiative Priority Markets series. Vietnam Download full video .mp4 (16MB) Vietnam is a true emerging market, offering ground floor and growing opportunities for U.S. exporters and investors. Vietnam’s economic...

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Anonymous Anonymous said...

Question: What banks are recommended if you are going to get started in import exporting and have to do any international trade transactions? I know all banks maybe small local community ones may not.

10:49 AM  
Blogger Ron Coble said...

Most banks can receive international wire transfers, however, not all banks deal with letters of credit, etc.. If you are going to be using letters of credit it would be best to ask you current bank which bank(s) they recommend for transactions of that nature or you can also sometimes use the financial facilities of the freight forwarder that you will be using in your transactions as they often can handle LOC's as well.

2:32 PM  
Anonymous Robin Doughty said...

I dont know whether it is general or not but the most trouble to be had with transfers of funds seems to be with australian banks, and I have often had to resort to taking payments via Western Union-not the most easiest of transactions, especially at the receiving end.

3:52 PM  
Anonymous 401k recordkeepers said...

Profit is great (fantastic), however sometimes the need to have just as much cash coming in as going out on a monthly or weekly basis can make a huge difference when looking at the costs involved in starting up any venture.

1:55 AM  

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