U.K. Sees Exports Rise and Recession Ending
U.K. Trade Minister claims trade is almost back to normal as exports are increasing, says the Wall Street Journal. The Office for National Statistics stated that the trade deficit widened to an eight-month high in September as a 3.9% rise in exports.
“Trade is gradually getting back to normal. The statistics from the U.K. reflect that,” Marvyn Davies, U.K. Trade Minister said. “More and more companies are exporting their way out of recession.”
The primary goal for the government is to supply the country’s nearly five million smaller businesses with the ability to compete in exports markets. He states that the U.K. has some of the world’s leading large exporters, but lacks the large spread of mid-sized exporters that a country like Germany has. To do this, Davies plans to look into expanding the role of the state-owned credit agency and to turn to other countries to learn how it manages its small to mid-sized exporters.
A great way for exporters to stay competitive and export with the big dogs, is to integrate a solution, like Management Dynamics’ Export On-Demand. The solution helps small to mid-sized exporters establish an Export Management System, automate many aspects of compliance and demonstrate reasonable care. Implementing this solution will help avoid potential fines and preserve export privileges.
Learn more about Management Dynamics’ Export On-Demand
To find out more information on the article, click here.
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Webinar: Key Strategies for Establishing an Export Management System
This webinar will demonstrate how to improve your export management program and automate many aspects of compliance including maintaining reference data, screening trade parties, producing documentation and maintaining audit trails – all without having to hire additional staff.
The presenters will address key findings from an industry survey on how companies manage export compliance and highlight a number of best practices for your company to consider when implementing an export management system.
To view: http://www.managementdynamics.com/html/rl_wc_wtm-ec.html
Hosted by World Trade Magazine in partnership with Management Dynamics, Inc and Braumiller Schulz LLP
Office of U.S. Trade Representatives to Focus on Small to Mid-Size Business
According to American Shipper magazine, The U.S. Trade Representatives (USTR) have asked the International Trade Commission this week to determine the size of small to mid-sized enterprises (SME) in export throughout the U.S.
“USTR is sharpening its focus on small- and medium-sized American businesses to craft new trade policies and enforce existing ones in ways that will help these firms grow exports around the world, and grow jobs here at home,” said U.S. Trade Representative Ron Kirk in a statement. “American companies of all sizes must export their goods and services to get our economy growing again.”
Management Dynamics offers a solution to SME exporters, who are interested in expanding its exports and to ensure compliance. Export On-Demand is a complete trade automation solution that helps U.S. SMEs establish an Export Management System, automate many aspects of compliance and demonstrate reasonable care.
For more information on Export On-Demand, click here.
For more information about the article, click here.
Small to Mid-sized Companies Push Forward in Export Despite of Recession
According to American Shipper magazine, many government officials believe the small to mid-sized companies will be in the forefront of the United States’ economic recovery, particularly with several federal programs to assist their export efforts.
“More than a quarter of a million U.S. firms export goods. Ninety-seven percent of those firms are small- and medium-sized businesses who particularly need our help accessing global markets,” said U.S. Trade Representative Ron Kirk in a May 18 speech to the U.S. Chamber of Commerce about the Obama administration’s trade agenda.
The Small Business Exporters Association (SBEA) has dedicated its programs to help small and mid-sized businesses succeed in exporting. James Morrison, president of SBEA believes it’s easier in a recession for small businesses to grow as more companies are reducing costs and purchasing at a lower rate.
“Small businesses are often more agile than larger ones, and can do well based on small sales,” said James Morrison in an interview. “There are currently a lot more overseas buyers at the $200,000 and $500,000 level than at $2 million or more.”
Once the small to mid-size company exports grows, it’s recommended to purchase global trade management solutions to ensure compliance at each stage of the export. Managment Dynamics offers a great solution that is cost effective and is flexible and on-demand. Export On-Demand can be quickly deployed and configured for an small to mid-sized exporter.
To learn more about Export On-Demand, click here.
To read the full article by American Shipper magazine, click here.
International Trade Isn’t Just for Large Companies
A recent article, The Idea Of Trading Internationally Can Seem Intimidating. Only The Big Players Do It, Right?, gave me the idea for this blog post. By either offering a small niche product or wanting to expand profit, stepping into an international market can be rewarding. Each situation offers the ability to market to a larger audience and gain more exposure for your business.
How can a small to mid-sized company step into the global trading world? Well, according to this article, here are some ideas.
1. Update your Web site. Add international shipping options to your website. Accepting credit cards makes it easier for the purchaser to buy the product wtihout messing with money orders.
Also, add content in additional languages (use flag symbols to click-through to other web pages). English may be the dominant language on the Web, but offering content in your audiences’ native language is a big selling point. It shows you value their business. The article suggested even buying a local domain, such as www.yourbusiness.ie, if you are stepping into the Irish market for example. Having a country code domain name makes it clear that you trade in that particular country.
2. If stepping into a new market, monitor regional and international competitors. You may have to work harder to step into that regions’ market to win business. Look on competitor websites in each region to determine how it pitches its content to your new audience, and study its pricing stategy. $9.99 doesn’t translate in currency conversion effectively. Another option could be to offer multipy currency conversions on your website by allowing the customer to click on the preferred currency when paying.
3. Stay up-to-date with relevant customs regulations. This is where it can be cost-effective to purchase an On-Demand product from companies who specialize in global trade management, particular thoses who offer low-cost solutions specific for the small to mid-sized markets. Management Dynamics offers an On-Demand solution to help build an Export Management System, called Export On-Demand. This solution can quickly be deployed and configured for an SME exporter. It covers all of the key export compliance capabilities including maintaining reference data, screening trade parties, producing documentation and maintains audit trails.
For more information on Export On-Demand, download a free brochure.
To read the full article on tips for entering the international market, click here.
How Can SMEs Size Up to Border Regulations?
Canadian Transportation & Logistics magazine’s recent article, Seeing Red, discusses the trade relationship between the U.S. and Canada. With the new U.S. administration up and running, Canada has begun talks on how to build more transparency and establishing a more consistant preclearance reporting.
The fear of added protectionism from the new US administration still feeling its way around the Canada-US trade relationship has also heightened the sense that the border is thickening, reports Julia Kuzeljevich, feature editor.
Large enterprises have the resources with any change between the two countries trade policies to understand and meet any new regulations. But, what about the small to medium sized enterprises (SMEs)?
The more SMEs enter into cross border trade, the more work has to go into information being managed.
Nathan Pieri, senior vice-president of marketing and product management for Management Dynamics states, “There is not a good understanding among SMEs about what is required. They have a very hard time getting their message up the ranks.”
Management Dynamics offers a solution that will help SMEs stay confident as it participates in global trade. Export On-Demand is a complete trade automation solution that helps establish an Export Management System, automate many aspects of compliance and demonstrate reasonable care.
Wanna find out more information about Export On-Demand? click here.
Export On-Demand Offers Savings for Companies in Compliance
In May, Journal of Commerce wrote an article, Compliance Applies Growth about the importance of compliance and HS classification. Many Global Trade Managment companies have seen a growth in business in this recession.
“The growth is the result of the large cutbacks companies are going through to keep financially above water,” says Wayne Slossbrg, vice president of Sales at QuestaWeb.
Nathan Pieri of Management Dynamics spoke of the importance of developing trade compliance products geared towards the unique needs of a small business. Management Dynamics released its Web-based Export On-Demand compliance software solution in April with a focus to small to mid-size companies.
“Companies of all sizes need compliance,” Nathan Pieri says. “All companies play by the same rules. We need to make it easy for them.”
Many companies are intimidated by the complexities and costs of trade compliance software. Management Dynamics’ new product provides only those capabilities it believes small companies need. Export On-Demand can be adapted to each companiy’s business processes and its level of technological sopistication.
Learn more about Management Dynamics’ Export On-Demand, click to view its brochure.
To read the full article, view Journal of Commerce’s digital edition.
U.S. Trade Slow to Recover
According to International Freighting Weekly, trade exports into Europe and the U.S. has dropped by 21 percent since the beginning of 2009. The Bureau of Economic Analysis reports, U.S. exports totaled $121.1billon in April, $2.8 billon less than in March. Imports also fell $2.2 billon from the March totaling of $152.5 billon.
However, the Asian markets have improved this year. The Hong Kong Trade Development Council says that overseas buyers have been placing more orders and the Bank of Japan announced that exports are rising and factories outputs have increased at the fastest rate in 50 years.
For exporters in the small to mid-sized companies, Management Dynamics offers a perfect solution to help reduce costs and establish an Export Management System. It’s available on a flexible, on-demand system that can be quickly deployed and configured for an SME exporter. The solution covers all of the key export compliance capabilities including maintaining reference data, screening trade parties, producing documentation and maintaining audit trails.
Read more about Export On-Demand
To read the full article, click here.