Expanding into international markets can open the door to significant growth opportunities for Wyoming businesses - but entering the global arena requires preparation, strategy, and the right partners.
As the Wyoming SBDC Network’s International Trade Consultant, I regularly work with business owners who are curious about exporting but aren’t sure where to begin. The good news? You don’t have to navigate the complexities of global trade alone.
Leverage On-the-Ground Intelligence
One of the first steps toward successful exporting is understanding the resources available through our federal partners. The U.S. Commercial Service provides valuable on-the-ground support through U.S. embassies around the world. Their teams offer:
- Market intelligence and country-specific guidance.
- Introductions to verified international buyers.
- Help navigating foreign regulations.
At the SBDC, we help facilitate these connections and can even join you on the call to help you navigate these steps and strategize for what comes next.
De-Risk Your International Sales
Another essential partner is the Export-Import Bank of the United States (EXIM). EXIM offers tools that make exporting less risky and more financially accessible. From export credit insurance to working capital guarantees, their programs are designed to protect your business from nonpayment and support your cash flow. The SBDC is a close partner with EXIM and can help you prepare for a meeting with them to ensure you make the most of it.
Strengthen Your Foundation First
Before taking the leap, it’s critical that your business foundation is strong. Exporting amplifies both opportunities and responsibilities. Ask yourself:
- Is my business model clear and scalable?
- Do I have healthy enough cash flow to handle longer shipping cycles?
- Is my production ready to meet increased demand?
At the Wyoming SBDC Network, we specialize in helping business owners strengthen these fundamentals. Whether you’re assessing your readiness using tools like the SBA Export Business Planner or exploring specific markets, we’re here to guide you.
Ready to explore the possibilities? If you’re wondering whether exporting is the next strategic move for your company, we would be happy to meet with you. Contact Us.
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The Wyoming SBDC Network is hosted by UW with state funds from the Wyoming Business Council and funded, in part, through a cooperative agreement with the U.S. Small Business Administration. Full funding disclosures available at
wyomingsbdc.org/about
All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.
