Opportunities for exporting from the USA are continuing to grow – it really is an exciting time for American trade. As a result, you may want to check over these strategies that would help increase your business and make the most of this positive trading environment.
It’s a great time to be exporting from USA
American companies are expected to expand as opportunities continue to abound in international markets. It has been forecast that the next five years will see 85% of economic global growth occur outside of the US. Details are available in a USA Export 2018 report from Brookings. This is an ideal time to develop and execute strategies to increase your exporting from the USA. Some best practices for companies that want to begin or expand their international export operations from exporting internationally include:
- Identifying potential countries that could be exported to
- Determine which potential countries have expanding demand for your products
- Research what country free trade agreements exist and maximize their advantages
- Finding the right freight forwarder for your exporting from the USA
Strategies on how to increase your exporting from USA
How to identify what potential countries you could be exporting from USA
A safe and sound approach to working out what countries to which you could potentially be exporting from the USA is to review those with which you have a familiarity.
Investigate Canada first
An example of this soft approach would be to research how exporting would work into a country that is culturally similar and in close proximity to the USA. On this basis, Canada is an ideal country to check into firs. The familiarity would allow you to focus on developing the research process to establish if there is an expanding demand for your products and what advantages may be gained from any free trade agreements with Canada. Learning how to investigate a market like Canada would be good practice in gaining an understanding of what you need to look for when forming a list of potential export target countries.
Review country and the US commercial guides
US companies new to exporting, or those looking to expand into more countries, should be reviewed as a potential export market. This can be obtained from the CIA World Fact book. On every country, they publish relevant economic information such as:
- Economic drivers
- Population demographics
- Transnational issues
- Utility infrastructure
A more detailed study can then be done by reviewing the country’s commercial guides from the US government. These are freely available online at the export.gov website and are compiled by industry experts within US embassies in those countries. The guides have detailed information on over 125 countries, and include information such as:
- Business culture and customs
- Relevant regulations and laws
- Trade opportunities and market conditions
How to determine which potential countries have expanding demand for your products
Identifying potential countries is only the start of the process when determining the feasibility of exporting to that new market. You need to determine if there is growing demand for the product you are looking to export. This includes working out who your competitors are and how they compare to you.
Visit your local US Small Business Development Center
A good starting point for US companies that are new to exporting is to visit US Small Business Development Centers. They give free face-to-face business consulting and can provide market research and analysis. These government funded centers are hosted by leading colleges, universities, private sector partners and state economic development agencies.
Consult with your local US Commerce Department
A good starting point for US companies new to exporting is to visit US Small Business Development Centers. They give free face-to-face business consultation and can provide market research and analysis. These government funded centers are hosted by leading colleges, universities, private sector partners and state economic development agencies.
How to research what country free trade agreements exist and maximize their advantages when exporting from USA
The costs of exporting into a potential country can be dramatically reduced if a free trade agreement with the US exists. These trade agreements allow US companies to enter and compete more easily in these countries by reducing import tariffs and eliminating other trade barriers. This could significantly increase the feasibility of selling your products in that country. The US has free trade agreements in force with 20 countries.
You can obtain further details on Free Trade Agreements with the USA from the Office of the US Trade Representative. It also provides market and economic on more than 75 countries around the world. Get market and economic on more than 75 countries around the world
Free Trade Agreements are not the easiest documents to read. For assistance, you could contact the bilateral trade association or chamber of commerce and consult with them. If you were looking for this help when investigating the impact of any Free Trade Agreements when exporting to Canada, you could contact the Canadian American Business Council.
How to find the right freight forwarder for your exporting from USA
An important aspect of expanding your exporting to a new country is deciding with whom to partner when it comes to forwarding your freight. The US Commerce Department has a fee-based service, where you could use their trade specialists to help you locate and screen potential partners; however you can easily do your own research to choose a freight forwarder. Read up here for a simple and effective method on how to choose a freight forwarder.
Consider us to be your freight forwarding partner
Expanding into new overseas markets means choosing trusted partners. It is essential for success to have confidence in their ability to consistently deliver on their role in the partnership. If you are looking for help with your freight forwarding and seeking a partner when exporting from the USA, then consider us. We are a freight forwarder that shows all costs upfront with no hidden costs. We make an ideal freight forwarding export partner and work with you to increase your business.
Our freight forwarding network has more than 40,000 locations for international air and sea freight around the world. We run a fast, transparent and lean international service, so contact us online and send a message. You can even message us on Facebook for a quote on doing your exporting from the USA.