Export promotion agency and the key programs offered to exporters

Export promotion agency and the key programs offered to exporters Introduction International marketing presents great challenge to most small businesses within specific countries. Such a challenge is attributed to improvement in technology which involves global use of digital mobile devices.Advertising We will write a custom essay sample on Export promotion agency and the key programs offered to exporters specifically for you for only $16.05 $11/page Learn More Looking for new markets and customers within those markets makes most businesses face some challenges. However, for the purposes of encouraging exports, various governments have extended their assistance to such small businesses in order to improve export sales of available products. The process is referred to as export promotion and undertaken by Trade Promotion Organization (Delaney, 2012, p. 1). The following are some of the most helpful programs to firms within the Unites States of America. Bilateral and multilateral program on Small Micro-enterprises (SMEs) Thi s program offers SMEs such benefits as reduced tariff rates, protection of intellectual property, business transparency and improved access to information amongst trading partners. The new online capability built by the Department of Commerce’s ITA (International Trade Agreement) is essential in helping SMEs, stakeholders and the general public in taking an advantage of the new available export opportunities (National Export Initiative, 2011). The launch of the â€Å"FTA tariff Tool† provides good opportunities for the small businesses and enables them to benefit from the Free Trade Agreement (FTA) markets.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The use of the tool enables the businesses to perform fast, search for industrial products and also play an essential role in revealing individual product tariff rates for subsequent years. This is important to small manufacturers since they are able to plan ahead of time concerning entry into new export markets. Accessing market and sector reports has also been improved enabling a better identification of export opportunities (National Export Initiative, 2011). Provision of trade finance counselling Trade finance agencies have enabled easy access to credit by the small businesses through the expansion of the export credit programs. The new Express Insurance offered by the Ex-Im Bank has simplified the process of application. Additionally, Supply Chain Finance program has ensured convenient access to attractively priced credit. The counselling programs offered through TPCC agencies are crucial since they provide small businesses with appropriate knowledge on better management of working capital. Provision of timely information concerning trade finance gives the needed support and assurance to businesses, hence enabling them to structure their transactions in such a way, so they are capable of g ranting immediate sales (Kharas, 2010, pp. 10-35). Development and improvement of the supply chain infrastructure Means of transportation within the United States provides the very starting point of a very long global logistics chain. Participation in the global economy demands that products manufactured within a country come in the international market at affordable cost.Advertising We will write a custom essay sample on Export promotion agency and the key programs offered to exporters specifically for you for only $16.05 $11/page Learn More Currently, there is a deep consensus amongst exporters that the country’s transportation system has, to a greater extent, affected the ability of the businesses to access the global markets. Additionally, the presence of reliable and resilient supply chain infrastructure is critical to the promotion of sustained economic growth. This is since infrastructural development ensures improvement on speed and movement of export goods throughout the country and most importantly within the global marketplace (Istrate et al, 2010). Conclusion Export promotion and development are important aspects of the government due to its capability in reinforcing economic development goals for the countries involved (Delaney, 2012, p 1). The United States uses the aspect to offset market fluctuations, create jobs and at the same time use it as source of supporting national exports. The small businesses may find it difficult to connect with potential customers and companies worldwide. This provides opportunity for the government through various promotion agencies to assist in finding solutions and enhancement for their global competitiveness. References Delaney, L. (2012). Export Promotion and Development. Web.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Istrate, E. Rothwell, J. Katz, B. (2010). Export Nation: How U.S. Metros Lead National Export Growth and Boost Competitiveness. NY; Brookings Institution Kharas, H. (2010). The emerging Middle Class in Developing Countries. OECD Development Centre Working Papers, 285, 10-35 National Export Initiative. (2011).2011 National Export Strategy. Retrieved from https://www.export.gov/welcome