Export, Dammit!

Business conditions haven’t been the best in the last year or so.

I’ve also noticed that manufacturing in the US is losing jobs.

The US dollar is down compared to other world currencies, too.

I’m wondering why more manufacturing companies, large and small, aren’t apparently exporting if at all. The down dollar makes your US goods cheaper in foreign countries.

When I and a partner owned a manufacturing company, exports kept us going strong during a couple of recessions.

We fell into exporting, when a couple of our national suppliers recommended us to foreign companies, the foreign companies contacted us, we set up export terms, without any assistance from any US export agencies. We self-financed the exports, because in Reno, Nevada, the banks barely understood what our company did, let alone that our products were exportable.

Exports strained our balance sheet, because it wasn’t uncommon to wait 60 days for payment. Our parts were shipped in containers going across the ocean.

Eventually, our exhaust products were stocked by branches of four national companies around the world. We were honored to be included in their lines of business; but the export business wasn’t without problems beyond financing: you haven’t lived until one of your air intake parts fails in a South African mine, lunching a v-12 diesel engine and causing $20,000 in repairs (in 1986 dollars)

Now, there is EXIM.gov, which provides financial and technical support for exporters. And there is insurance for payment of export invoices, usually through EXIM.

Look around for US trade missions in your closest big city….they will act as overseas agents for you.

All things considered, just do it!