Helping Small Business Go Global Office of International
Helping Small Business Go Global Office of International Trade A Webinar for Businesses March 19, 2020 For audio dial 888 -603 -9744 and enter passcode 9385365#.
Agenda • Introduction – Michele Schimpp, SBA’s Office of International Trade • Women Going Global - Nina Roque, Executive Director, National Women’s Business Council • Company Success – Lisa Cobb, Chief Financial Officer, Precise Energy Products, Inc. • Get Help from SBA Michele Schimpp Deputy Associate Administrator SBA − Advice and counseling to get started Sarah Bonner, SBA’s Office of International Trade − Grants to find international buyers Mindy Fryer, Director, Contracts and Grants, Texas Department of Agriculture − Financing for your international sales Alale Allal, SBA’s Office of International Trade • Q&A
SBA Disaster Assistance In Response to the Coronavirus (COVID-19) The SBA is making loans available in designated states and territories to alleviate economic injury caused by the Coronavirus (COVID-19). Who is eligible? • Small businesses • Private, non-profit organizations What is available? • Up to $2 M per business • May be used to pay fixed debt, payroll, accounts payable, and other bills that can’t be paid due to coronavirus impact For more information: Onli SBA. gov/Disaster ne Ema disastercustomerservice@sba. g il ov Call 1 -800 -659 -2955 (TTY: 1 -800 -8778339) 3
The Global Sales Opportunity
The Case for Small Businesses 95% 98% of Consumers live Outside the United States of Exporters are Small Businesses 33. 3% Business Growth of U. S. Export Value is from Small Businesses 10 year longer 3 X employees 2 X sales
Obstacles to Overcome Top reasons small businesses don’t export 37% Don’t know where to start 24% Believe regulatory environment is too complex 35% Cite difficulty getting financing for international operations * National Small Business Association’s 2016 Exporting Survey
Women Going Global Nina Roque Executive Director The National Women's Business Council (NWBC) is a non-partisan federal advisory committee created to serve as an independent source of advice and policy recommendations to the President, Congress, and the U. S. Small Business Administration (SBA) on economic issues of importance to women business owners and entrepreneurs.
Company Success Lisa Cobb Chief Financial Officer Precise Energy Products, Inc. 3930 Glade Road, Suite 108, #319 Colleyville, Tx 76034 Precise Energy Products is an oilfield service equipment manufacturer providing Coiled Tubing, Nitrogen, Pumping, Wireline, Swabbing, and Slickline units to oilfield service companies in the US and internationally. CHALLENGE: Inability to accept contracts which are funded by an Irrevocable LOC (Project Financing Working Capital) SOLUTION: SBA backed $2 M Transaction Specific Working Capital Line of Credit RESULT: Revenues doubled; new markets tapped Precise is a 2015 Fort Worth Chamber of Commerce Small Business of the Year Award Winner and the 2014 US Small Business Association Exporter of the Year for Region VI covering Arkansas, Louisiana, New Mexico, Oklahoma, and Texas. Additionally, Precise was ranked number 2450 on the 2015 INC 5000 list of the fastest growing privately held businesses in America. 9
The SBA Can Help You Go Global Advice to Get You Started Find a Local Advisor at sba. gov/local Grants to Find International Buyers See if your state/territory offers grants at sba. gov/international Financing for Your International Sales Contact your local export finance manager at sba. gov/international 10
Advice to Get You Started Search sba. gov/local to find: • • Sarah Bonner Export Policy Advisor Office of International SBA A local mentor with SCORE Advice and counseling from your local Small Business Development Center Support for women entrepreneurs at your local Women’s Business Center Support for veteran entrepreneurs at your local Veteran’s Business Outreach Center Contact SBA’s Office of International Trade: • • Call SBA toll free (855) 722 -4877 Email international@sba. gov 11
Grants to Find International Buyers The State Trade Expansion Program or STEP provides grants to U. S. states/territories to help small businesses to go international. Last year alone, $18 million in STEP grants: • Helped over 6, 000 small businesses • Enabled small businesses to earn over $500, 000 in export sales. Visit sba. gov/international to find out if your state/territory is participating in SBA’s State Trade Expansion Program. 12
Grants to Find International Buyers Your small businesses may qualify for a grant and/or training to: • Learn how to export • Cover expenses to: Mindy Fryer Director Contracts & Grants Texas Dept. of Agriculture −Participate in virtual trade missions −International Partner Search Plus Virtual Introductions −Obtain services to support foreign market entry including market research and initial market check to determine opportunities • Translate websites to attract foreign buyers • Design marketing media and more!! 13
Financing Your International Sales Loan options: • Export Express for export development − $500, 000 limit • Export Working Capital to fulfill your export orders − $5 million limit • International Trade Loan for Alale Allal expanding your overseas sales Export Finance Manager capacity Office of International Trade SBA − $5 million limit
Financing Your International Sales Examples of uses: • Offer payment terms to customers to make your bid more competitive • Proactive marketing • Purchase machinery or equipment to meet international demand for your product • Finance foreign accounts receivables Contact your local export finance manager at sba. gov/international
Get Help From SBA Search for local help • For advice, find your local advisor at sba. gov/local • For grants, find your State Trade Expansion Program (STEP) at sba. gov/international • For export finance, find your nearest Export Finance Manager at sba. gov/international Call SBA toll free (855) 722 -4877 or Email international@sba. gov with your contact information and trade questions Visit SBA. gov/disaster, Call SBA disaster assistance customer service center at 1 -800 -659 -2955 (TTY: 1 -800 -877 -8339) or Email disastercustomerservice@sba. gov Stay Informed with SBA’s OIT’s Newsletter and
Q&A For more information, please visit sba. gov/international Sign up for our export newsletter: sba. gov/newsroom To watch this webinar again, please visit You. Tube. com/sba
• Export. gov (https: //www. export. gov) − Market research and trade leads − Tariff information − Trade events Additiona l Federal Resources • www. STOPfakes. gov • Ex-Im Bank (https: //www. exim. gov) − Export credit insurance • Census (https: //www. usatradeonline. gov) − Trade statistics − Documentation and shipping • State Department (https: //www. pmddtc. state. gov) − Export licensing
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