EXPORT BUSINESS PLANS
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Export Business Plans
An Export Business Plan is a more extensive business plan. The ITL (International Trade Loans) program from the SBA (Small Business Administration) helps lenders support exporters open international markets. Applicants must detail how the loan will increase exports in their Export Business Plan. According to NAGGL (National Association of Government Guaranteed Lenders), nearly half of all denials are due to the absence of Export Business Plan. If you are in the export business, the Export Business Plan is the living document that outlines your strategy. It is strongly recommended that along with all documents submitted to your credit file, the Export Business Plan should be included as a standalone attachment.
If you are starting to trade overseas, or you are looking to expand your global sales, completing an international business plan helps you to anticipate future goals, assemble facts, identify constraints, and create an action statement. It should set forth specific objectives and implement a timetable and milestones. A strategy for entering or expanding into targeted markets is critical to your success in the global marketplace.
Conduct an “audit” of your company to determine how exporting will impact your operations. Consider the management issues for exporting, approaches to exporting, distribution channels and other important considerations that will impact your business.
Understand the key components of an effective, actionable export plan. Just as no two companies are alike, there is no one-size-fits-all export plan. Your export plan should be an extension of your overall business plan, if not infused completely into your business plan. Many of the same questions for your international sales strategies will apply to your domestic sales plan.
Have a clear idea of the information you need to collect and sources where you might find that information.
Creating an international export plan is important for defining your company’s present status and internal goals and commitment. It is also required if you plan to seek export financing assistance. Prepare a plan prior to requesting bank loans. This can save both time and money.
What Should Be Outlined On An Export Business Plan?
- Export Policy Commitment Statement
- Situation or Background Analysis
- Marketing Component
- Tactics – Action Steps
- Export Budgets
- Implementation Schedule
- Background Data on Target
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