Are you a small business owner who has always thought about engaging in international trade, but you’re just not sure where to begin? The thought of international trade can be overwhelming. The counselors at America’s SBDC Iowa can help you with a strong foundation to increase the outreach of your business.
Where do I begin with exploring international trade?
A good place to begin is to establish a solid business plan. A typical business plan has you put into words your business opportunity, products and services, marketing plan and market research, operational plan and how you will fund your business. With international trade, many aspects of your plan will need to be considered. How will you market your products? Will your pricing be different abroad, as you may need different packaging and product information? How will you ship your products? Your cash flow may change as collection methods may take longer, resulting in the need for additional operating capital. A sample business plan template can be found on our website: https://iowasbdc.org/business-plan-template-3/.
Whether you are experienced in international trade or you are beginning to explore the idea, the counselors at America’s SBDC Iowa are ready to help!
About America’s SBDC Iowa and the Author
Dave Biedenbach has nearly 30 years of finance and accounting experience, working for both private businesses and public organizations. He has been with the Iowa SBDC since January 2019 and serves as the Regional Director for the Iowa State University center that covers Boone, Marshall, Story and Hardin counties. Dave received his Bachelors of Business Administration degree, specializing in Finance, as well as his Masters of Accounting degree, from Iowa State University.
The team at America’s SBDC Iowa is a resource partner of the U.S. Small Business Administration and stays informed about the latest federal, state and local programs for assisting small businesses. Our counselors are trained to assist with international trade questions, as well as connect you to resources. An appointment for confidential, no-cost business advising at one of our 15 regional centers across the state of Iowa can be requested on our website: www.iowasbdc.org.