IOE backs SME mission to boost trading links with the USA
22 August 2014
Posted by: IOE News
In an exciting new initiative, the Institute of Export is collaborating with Enterprise Nation, the champion of small business, to help SMEs move into the US market.
Enterprise Nation’s Go Global: The Mission will take 60 small business owners to New York on a two day trip from September 25, designed to see what export opportunities are available across the pond. Those taking part will enjoy a special incentive to access IOE expertise and advice through Business Membership.
IOE Director of Special Projects, Mike Josypenko, will also be on hand via a webinar before the delegates go to offer his top tips for trading in the US.
These will include:
- Finding out how they do business and who to sell to
- Understanding how the North American market works
- Being aware of regulations – for instance if planning to export food, find out about regulations of the US’s Food and Drug Administration (FDA) or those around consumer safety
- Working with local partners if targeting volume sales
- Being aware of price sensitive markets
Mike says: “The IOE is very keen to support such an innovative initiative and help companies enjoy success in overseas markets. For companies who supply consumer products, going on a trip like this is an opportunity to visit retail outlets in New York, and to see the products that are already on display, together with pricing structures. SMEs planning to venture into the North American market need to see what names and brands are already available, and research local tastes, styles, trends and price points so they can identify where their goods will fit in market sectors.”
“The USA is an exciting, but challenging market, like all major destinations, so it is vital that business owners understand the various regulations and practices. For instance, if buyers demand short delivery times it may be necessary to set up stock in America to enable speedy local delivery, so these can be met. It is definitely not a market for the faint hearted!”
Enterprise Nation founder Emma Jones adds: “We are delighted to have The IOE supporting the Mission as it is an organisation with a deep history that can help delegates prepare for the trip and execute on export orders when they return. It is practical advice and support that small businesses need when looking to Go Global and it’s exactly this that the IOE can provide.”
During the unique trip, SME owners will meet with leading business journalists, New York’s hottest start-ups, brands and entrepreneurs with the view to establishing close ties. For further information and to book tickets, which cost £370, follow this link.
Do you export to the USA? Have you spotted new opportunities or encountered any particular challenges?
Visit our website for more information on the IOE’s business membership, training and qualifications or contact us if you have any questions.