Hey Delaware Business Owners: Claim Your Money for Exports!

©iStock/&#169 Andy Dean

Global Delaware – the Delaware Department of State’s international economic development office – is requesting applications from small- and mid-sized companies interested in using the funds before the September 30th deadline.

Money is specifically set aside to help local businesses increase their export sales.  Ever heard of the expression, "Use it or lose it?"  Well that is what is going to happen if Delaware business owners don't claim this money for export activity.

The funds are part of a $277,000 grant Global Delaware received last year through the U.S. Small Business Administration’s State Trade and Export Promotion (STEP) Program – the largest single award the state has ever received from the program.

A good portion is still left.  If you are located in Delaware and export, contact Global Delaware.

Read more:  Time running out on grants to help Delaware companies go global

SBA International Trade Finance Webinar

Learn about export loans available through the U.S. Small Business Administration and other global business solutions from our Federal Government. In addition, you will get tips from a small business exporter who has used these programs successfully to enter new markets and increase export sales.  Lastly, you will hear directly from an SBA lender on how to prepare in advance to get the financing you need to grow your export business.  Video can be found here or you can click on it above.

How to Cut Costs on Export Sales

My recent contribution for the American Express OPEN Forum through my relationship with Small Business Trends:

8 Ways to Cut Costs on Export Sales
by Laurel Delaney

Snippet:

1. Shift your production to a nation with lower labor costs. For example, if you currently manufacture in North America, try outsourcing to Vietnam, Indonesia or Malaysia, where the labor cost is cheaper and the quality acceptable. At the same time, examine potential transportation costs (refer to No. 7) to ensure you maintain, or even lower, that part of your overseas expenses.

What are some other ways in which you have tightened your belt -- reduced expenses -- on export sales to ensure you maintain decent profits?

A State With Record Highs in Export Sales

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New Hampshire has experienced record highs in export sales for the past three years, and the majority of it stems from small businesses.

Learn more about this here and also ask a question to their expert, Dawn Wivell, director of the state's International Trade Resource Center, here.

Age-Old Question of International Trade

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Q: We are a small manufacturer and want to purchase some component parts overseas. The overseas entity doesn't want to ship without payment. Yet we don't want to pay before we are sure that the goods will come and they will be of the quality represented. What are our options?

-- Marc Chafetz, Washington, D.C.

A: You're asking one of the age-old questions of international trade: How do a buyer and seller handle payment so neither gets burned? Read WSJ reporter Kelly Spors's answer here.

And I'd like to add my two cents on the subject.