It’s no secret that Fortune 1000 companies have seen a great deal of success when it comes to exporting their products and services to multiple countries. They have the human, financial, and logistical resources to undertake the challenges and risks involved in exporting globally.
But what if you’re a small to medium sized business (SMB) and new to exporting? Do you have the know-how, resources, and the risk aversion to start exporting?
I would like to personally invite you to a virtual program designed to provide the tools, information, and network access required to succeed in exporting your products and services to multiple countries. Learn more and register here for U.S. SMB Global Business Academy.
There can be difficulties in exporting for SMBs at every stage along the process, from leaving the port to correctly filling out paperwork to breaking into a new market. With that being said, one of the biggest challenges SMBs face is navigating the complex regulations and customs procedures of different countries.
Along with practical difficulties like shipping and transportation, you may also encounter language and cultural hurdles. It’s also important to take into account global market competition and the requirement to modify products and marketing tactics for regional and local needs (localization).
Case Study: English to Spanish Translations
If you don’t already export internationally, I’d advise you to start by looking into the Western Hemisphere, where some of these problems are simpler to solve and only English, Spanish, and Canadian French languages are required for trade.
You might not even need to translate your content, but if your legal agreements, user instruction guides, or product manuals do need to be translated, EPIC Translations offers a universal translation service for your convenience. You might also be able to use your distributor or staff to help you with the initial translations.
Exporting to Western Hemisphere
There are various approaches that can be used by small and medium-sized firms to increase exports. However, the distinctive cultural and economic environments of each country should be taken into account when creating your company’s specific export plan.
For instance, Mexico and Brazil, which have sizable populations and developing middle classes, are desirable markets for electrical machinery, mineral fuels, automotive, plastics, intellectual property (IP for industrial processes and trademarks), and financial services.
On the other hand, countries like Chile and Peru have robust mining and agricultural sectors, giving them excellent marketplaces for agricultural products and raw minerals.
The regulatory climate in each country is a crucial factor as well. It’s important to learn and comprehend the particular rules for exporting to each country because they can differ greatly. This can entail obtaining the required licenses, adhering to labeling and packaging specifications, and passing customs processes.
Additionally, establishing trusting relationships with regional distributors and partners can be crucial for success. This could entail participating in regional marketing and advertising initiatives as well as visiting trade shows and networking functions.
In general, new exporters in the Western Hemisphere will need a deliberate and intelligent approach that takes into account the distinctive qualities of each market. By doing this, you will be able to increase your company’s reach and capitalize on the region’s expanding customer base and various industries.
Top 5 Markets for U.S. in Western Hemisphere
Based on the latest trade facts for Western Hemisphere (2019), the top five U.S. export markets to the Western Hemisphere are:
- Canada ($292.6 billion)
- Mexico ($256.6 billion)
- Brazil ($42.9 billion)
- Chile ($15.7 billion)
- Colombia ($14.7 billion)
Top 5 Export Categories in Western Hemisphere
Based on the latest trade facts for Western Hemisphere (2019), the top five U.S. export categories in the Western Hemisphere are:
- Machinery ($106.6 billion)
- Mineral fuels ($106.3 billion)
- Electrical machinery ($79.3 billion)
- Vehicles ($78.5 billion)
- Plastics ($36.1 billion)
Bridges to Global Markets
I would like to personally invite you to a program designed to provide the tools, information, and network access required to succeed in exporting your products and services to multiple countries. Learn more and register here for U.S. SMB Global Business Academy.
This program will take place every Tuesday from July 11 to August 1 at 12 pm EST and includes the following trainings:
- Going Beyond Borders to Grow Your Business (July 11)
- Tariffs, Incotems, and More (July 18)
- Understand Supply Chain and Logistics for E-commerce (July 25)
- Customer Experience (August 1)
Who Can Attend?
This program has certain eligibility requirements. These are:
- Products must contain at least 51% U.S. content
- Must have a clear strategic business plan
- Must be registered and incorporated in the U.S.
- Must have a functioning website
Does This Training Cost Anything?
All sessions will be conducted online via Zoom and are free to attend as long as the above 4 eligibility requirements are met.
Who Is Organizing This Event?
The U.S. Commercial Service, Department of Commerce, and UPS have joined forces to create the U.S. SMB Global Business Academy. Through a knowledge of ecommerce, export logistics, and digital trade, the collaboration seeks to expand the participation of small U.S. firms in exporting and increase the opportunity for SMBs to succeed economically.
This program will improve entrepreneurs’ capacity and provide them with the resources and tools they need to compete globally.
Virtual workshops, one-on-one consultations, insights, and training are all part of the program’s curriculum. The subjects covered include export tactics, resources and tools for breaking into new markets, tips for creating a digital presence that is export-friendly, and advice on package flows and export shipping preparation.
How Do I Register?
EPIC Translations would like to invite you to a program designed to provide the tools, information, and network access required to succeed in exporting your products and services to multiple countries. Learn more and register here for U.S. SMB Global Business Academy.
Start Your Journey with EPIC Translations
We deliver high-impact English to Spanish translations and English to French translations (Canadian) that simplify your communications with your global clients, staff, suppliers, and partners.
Simply put, EPIC Translations exists to support your document translation needs whether you need to translate product manuals, company newsletters, website copy, or legal documents.
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