global marketplace

International Business Forum | NJSBDC @ Rutgers – New Brunswick | Thursday, July 13, 2017 @ 9:30am – 2:00pm

International Business Forum

Thursday, July 13, 2017 @ 9:30am – 2pm

NJSBDC at Rutgers University – New Brunswick

 

 

Over 95% of international business is done by small entrepreneurs. International trade covers the world from exporting to e-commerce. The global industry experts will provide real life solutions to your global trade queries. This event will assist established entrepreneurs in defining business objectives, risks, and profit potential of global expansion. It will provide fluency in key international strategies, market analysis, and integration into existing domestic business model. The presenting team will discuss unique opportunities and resources available to assist businesses that may be Export-Ready. There will be a discussion on how to evaluate the Global Marketplace in search for competitive business opportunities. Attendees will be provided with valuable information about International Business Plan and a Global Compliance Checklist. International Specialists from the SBA (Small Business Administration), the DOC (Department of Commerce) and Export Finance and Export risk management will be on hand to present government support programs.

 

 

 

newbldg4Rutgers Business School – Livingston Campus

100 Rockafeller Road,

4th Floor, Room 4095,

Piscataway, NJ 08854

Driving Directions

 

 

register-button_red_large

Fee: $50.00

(Includes Lunch, Materials and 3 hours of Counseling)

 

Parking:  Lots Yellow & Green (located behind restaurants and shops).  No permits required.

 


Forum Presenters:

 

 

  • Elayne P. McClaine, CGBP,

Regional Director, SBDC at Rutgers – New Brunswick

 

  • Thomas Mottley,

Sr. International Trade Specialist, US Department of Commerce / International Trade Administration Central New Jersey

 

  • Sheryl Paynter,

Lead Lender Relations Specialist/Office International Trade Officer, New Jersey District Small Business Administration

 

  • Stuart Schechter,

President, Credit Insurance Source, EXIM (Export-Import Bank of the U.S.) Broker

 

  • Fernando M. Sopot,

Charter President, Council for Trade and Investment Promotion

 

  • Julie-Mae Stanley,

MLIS, Business Strategist and Trainer, Founder and CEO of GLOBAL AMBICIóN GROUP

 

 

 


 

 

Sponsored By:

  • NJSBDC at Rutgers – New Brunswick

 

  • U.S.  Small Business Administration (SBA)

 

  • U.S. Department of Commerce

 


REGISTER NOW!

 

register-button_red_large

 

For more information:

Call: 848-445-8790

Email: njsbdcnb@business.rutgers.edu

 

 

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PRESS RELEASE: Women Warriors In Business Symposium to Enhance Women’s Impact on Leadership in Business and Career

Women Warriors in Business Symposium Slated for May 11

Contact:

New-Jersey-color-with-band973.353.1927

press@njsbdc.com

 

 

Program to Enhance Women’s Impact on Leadership in Business and Career

April 27, 2017 (NEWARK, NJ) America’s SBDC New Jersey invites women veterans and entrepreneurs to attend Women Warriors in Business, a high-impact women entrepreneur and leadership symposium and luncheon on Thursday, May 11, 2017 at 8:00 am until 2:00 pm, taking place at Rutgers Business School located at 1 Washington Park in Newark, NJ.

“The goal of Women Warriors in Business is to facilitate a real dialogue about topics that are important to women entrepreneurs and leaders” said NJSBDC Chief Executive Officer and State Director Brenda B. Hopper. The program will help women explore leadership challenges and opportunities, identify competitive advantages, help with personal and organizational branding, access lenders for financing, and utilize procurement certifications that are necessary when it comes to competing for public/private contracts.

NJSBDC - Women Warriors in Business (5.11.17)Focusing on empowerment, “Women Warriors in Business” will give women entrepreneurs and leaders candid insights from experts.  Three panels will focus on the following: ‘Being an Entrepreneur in Business and Career’; ‘Integrated Marketing in a Digital World’; and ‘The Real Deal in Winning Public and Private Contracts.’  The panels are comprised of accomplished entrepreneurs such as Cheryl McCants of Impact Consulting Enterprises; Michele Litzky of Litzky Public Relations; and Andaiye Taylor of BrickCityLive.com. Panelists also include business leaders and experts including Maureen Fairfax, Vice President, Strategic Sourcing at Prudential Financial; Dr. Tendai Ndoro, Regional Director of the NJSBDC at Rutgers University – Newark; Beverly Winkler, Director of Organizational Engagement, Learning & Development at PSEG; Dawn Fitch-Mitchel, Director of Diversity for DDB Worldwide; Stacy Smollin Schwartz, Rutgers University, Marketing Professor; Donald Newman, Director of Small Business Advocacy, Business Action Center, NJ Department of State.

“We’re excited to partner with The American Legion and provide guidance to our women veteran entrepreneurs.” added Hopper. “These outstanding women have many options available to them and we want to make sure they know the strength of entrepreneurship, while understanding that our network of business services and resources are here for them as well.” 

According to U.S. Census Bureau data, New Jersey based women-owned firms make up nearly 32 percent of all businesses, generating $49.5 billion in receipts.  Nationally, a 2012 study from the National Women’s Business Council reported that over 9.8 million women have businesses that generated $1.4 trillion in receipts.  Of that figure, approximately 383,000 veteran women-owned businesses – which are one of the fastest growing segments of the veteran population – generated $17.9 billion in receipts. 

“Though the numbers appear encouraging, women business owners still face significant growth challenges, as many cite issues including access to capital, education and resources being contributing factors to business development,” said Hopper. “Women Warriors in Business” aims to address key issues facing women entrepreneurs and leaders while providing encouragement, support and access to the resources needed to fuel growth.”  

The keynote speaker for Women Warriors in Business” is Stephanie D. Burroughs, of StephanieSpeaking, LLC, who is also a senior procurement consultant for NJSBDC Headquarters.   An expert in diversity contracting, Stephanie will discuss having and succeeding in business within today’s global marketplace.

Primary sponsors of Women Warriors in Business” include M&T Bank and Prudential Financial.  Partners include the U.S. Small Business Administration, The American Legion and The State of New Jersey’s Business Action Center, a key funding partner of the NJSBDC network.

There is a general attendance fee of $25.  However, free attendance is provided for military members, veterans and military dependents.

Seating for “Women Warriors in Business” is limited and spots are filling fast. To register, visit http://bit.ly/njsbdc-womenwarriors-2017 or http://njsbdc-WomenWarriors.weebly.com.

 

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Going Global

Importing & Exporting Tips to help you Ship Over Rough Seas Without Getting Sea Sick

 

by Stephen Bacque, Ph.D., Guest Contributor

 

Just the thought of shipping your products overseas is enough to make most ‘Sea Sick’ but don’t let it! Importing/ exporting is a great opportunity to grow your business.  International trade increases sales and profits, enhances a company’s prestige, creates jobs, and offers a valuable way for business owners to level seasonal fluctuations.

 

But things can get a bit tricky.  The first step you should take before crossing borders is to do your homework. Take these 20 critical factors into account before you begin:

 

 

 

  1. Get company-wide commitment.

Every employee should be a vital member of your international team, from the executive suite to customer service through engineering, purchasing, production and shipping. You’re all in it for the long haul.

 

  1. Define your business plan for accessing global markets.

An international business plan is important in order to define your company’s present status, internal goals and commitment; but it’s also necessary if you plan to measure your results. Grow your U.S. based sales first-before jumping into exporting. This will help build brand awareness.

 

  1. Determine how much you can afford to invest in your international expansion efforts.

Will it be based on ten percent of your domestic business profits or on a pay-as-you-can-afford process? Do not chase international sales that are not profitable.

 

  1. Plan at least a two-year lead-time for world market penetration.

It takes time and patience to build a great, enduring global enterprise, so be patient and plan for the long haul. Double check foreign currency exchange rates, and shipping cost, defect rate, etc.

 

  1. Build a website and implement your international plan sensibly.

Many companies offer affordable packages for building a website, but you must decide in what language you’ll communicate. Only 28 percent of the European population can read English. That percentage is even lower in South America and Asia. Over time, it would be best to slowly build a site that communicates sensibly and effectively with the world.

 

  1. Pick a product or service to take overseas.

You can’t be all things to all people. Decide on something. Then stick with it.

 

  1. Conduct market research to identify your prime target markets.

You want to find out where in the world your product will be in greatest demand. Market research is a powerful tool for exploring and identifying the fastest-growing, most penetrable market for your product.

 

  1. Search out the data you need to predict how your product will sell in a specific geographic location.

Do you want to sell a few units to a customer in Australia or ten 40-foot containers on a monthly basis to retailers in France? Doing your homework will enable you to find out how much you’ll be able to sell over a specific period of time.

 

  1. Prepare your product for export.

You should expect to adapt your product to some degree for sale outside your domestic markets before you make your first sale. Packaging plays a vital role in enabling international connections. Make yours the best in its class, and you’ll be able to sell it anywhere in the world.

 

  1. Find cross-border customers.

There is no business overseas for you unless you can locate customers first, then you can turn a profit on.

 

  1. Establish a direct or indirect method of export.

It all boils down to export strategy and how much control you wish to exercise over your ventures. On the other hand, readiness to seize an opportunity is more important than having your whole strategy nailed down beforehand.  Understand which method would best suit your needs.

 

  1. Hire a good lawyer, a savvy banker, a knowledgeable accountant and a seasoned import/export transport specialist, each of whom specializes in international transactions. You may feel you can’t afford these professional services, but you really can’t afford to do without them.

 

  1. Prepare pricing and determine you’re landed costs.

Be ready to test out your price on your customer. See what reaction you get and then negotiate from there.

Case in point: A toy ‘lasso’ rope sells at full retail in the U.S. for $5.00, in Canada $7.00. Realizing adjustments need to be made, the price is reduced to $5.00 (the company makes less per rope, but sells in greater volume at a big box retailer). The end result sells 40,000 units at full retail (direct to the public) $5.00 US; the company’s landed cost is $1.95 per unit for a profit of $3.05 per unit compared to the domestic cost of $1.25 sold wholesale for $2.50 retailing at $5.00 for a gross profit of $1.25 per unit.

 

  1. Set up terms, conditions and other financing options.

Agree on terms of payment in advance, and never, ever sell on open account to a brand new customer. No if-s, and-s or but-s. Just don’t.

 

  1. Brush up on your documentation and export licensing procedures.

If you find it too time consuming, hire a freight forwarder who can fill you in on the spot. Ask a lot of questions. Use their expertise to your advantage. It will save you time and money…

 

  1. Implement an extraordinary after-sales service

The relationship between your company and your overseas customer shouldn’t end when a sales is made. If anything, it should be just the start of a long relationship which requires more of your attention. The “care and feeding” of your customers will determine if they keep coming back for more.

 

  1. Make personal contact with your new targets, armed with culture-specific information and courtesies, professionalism and consistency.

Your goal should be to enter a different culture, adapt to it and make it your own.

 

  1. Investigate international business travel tips.

The practical aspects of international business can make or break the success of your trip. In preparing to go boldly where you’ve never gone before, plan accordingly.

 

  1. Explore cross-border alliances and partnerships.

In charting your global strategy, consider joining forces with another company of similar size and market presence that’s located in a foreign country where you’re already doing business, or would like to. Gauge your readiness-or willingness-to take on a 50/50 partnership and what it can and cannot do for you.

 

  1. Enjoy the international journey without getting Sea Sick!

With a bit of proper preparation-you will be able to sail the Seas to Success… Never forget that you are the most important and valuable business asset you have, and that the human touch is even more precious in our age of advanced technology. Take the best possible care of yourself, your employees, your suppliers and your customers, and your future will be bright, prosperous and happy.

 

 

Going global doesn’t have to be a scary proposition. By considering and developing these twenty essential factors before going global, your organization can realize the full potential of globalization and capture dramatic revenue growth.

 

 

Related Training Events: International Trade

 

 


ABOUT THE AUTHOR:

 

Stephen E. Bacque, Ph.D.

Guest Contributor

Stephen E. Bacque Ph.D. is the Founder /CEO of A.S. Bacque Enterprises, Inc. the Bacque Group. ASBEE Toys, Tex Toys and The Great Toy Company-with over 60 products in ‘Big Box’ retailers, and listed on over 14 patents. He is the author of 12 books, and countless magazine articles. Winner of the highly prestigious ‘Entrepreneur of the Year’, NJSBDC’s Small Business Success Award’, Congressional Businessman of the Year’, etc. Featured on the Today Show, CNN, Fox News, Oprah, Leno, Letterman, 20/20, 60 Minutes, The New York Times, The Wall Street Journal, Inc. Magazine, Entrepreneur Magazine, Success Magazine, World Trade Magazine, Inventors Digest, etc.

 

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International Business Forum | NJSBDC at Rutgers Business School – New Brunswick | Tuesday, July 19, 2016

Did you know …

Nearly 96% of consumers live outside the U.S.?

Understanding international trade allows you to tap into two-thirds of the world’s purchasing power! 

 

To help you enhance your abilities to perform in the global marketplace, the NJSBDC at Rutgers Business School – Livingston Campus and the U.S. SBA invites you to an exclusive forum to identify Opportunities for Growth in Global Expansion.

 


 

Tuesday, July 19, 2016  9:30am – 2pm

 

newbldg4Rutgers Business School, Livingston Campus

100 Rockafeller Road,

3rd Floor, Room 3095,

Piscataway, NJ 08854

 

Driving Directions

Fee: $50.00

(Includes Lunch, Workbook and 3 hours of Counseling) 

Register

Parking: Lots Yellow & Green (located behind restaurants and shops). No permits required.

For more information, call 848-445-8790 or send a message to njsbdcnb@business.rutgers.edu 

 


 

 

Program Description:

This forum will discuss the unique opportunities and resources available to assist businesses that may be Export-Ready.  There will be a discussion on how to evaluate the Global Marketplace in search for competitive business opportunities.  Attendees will be presented with An International Business Plan discussion a Global Compliance Checklist.  International Specialists from the SBA (Small Business Administration) and the DOC (Department of Commerce will be on hand to present government support programs, Export Finance and Export risk management.  In addition, three Client export success stores will be presented.

 

 

Panelists Include:

 

Opportunities for Growth in Global Expansion

Elayne P. McClaine, CGBP

Regional Director

SBDC at Rutgers – New Brunswick

 

Government Support and Export Finance

Sheryl Paynter

Lead Lender Relations Specialist

Office International Trade Officer

New Jersey District Small Business Administration


Thomas Motley

Sr. International Trade Specialist

US Department of Commerce / International Trade Administration Central New Jersey

 

EXIM (Export-Import Bank of the U.S.) Broker

Stuart Schechter

President

The Credit Insurance Source

 

Client Success Stories

Dr. Syed Ibrahim, CEO

Health and Natural Beauty, Inc.

SprinJene Brand

Ms. Beverly White, CEO

BKW Transformation Group, Inc.

Mr. Juan Cordero, CEO

Prodelca Exports

Register

Reasonable arrangements for persons with disabilities will be made, if requested at least 2 weeks in advance. Contact: SBDC at Rutgers University New Brunswick, 848-448-8790, njsbdcnb@business.rutgers.edu. Co-sponsorship Authorization: SBA’s participation in this cosponsored activity is not an endorsement of the views, opinions, products or services of any cosponsor or other person or entity. All SBA programs and services are extended to the public on a nondiscriminatory basis.

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