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Google Global Market Finder tool a boon for Oklahoma companies looking abroad

One obstacle Oklahoma firms with little experience of exporting may run into is the challenge of knowing just where to begin. While U.S. and Oklahoma-state agencies are there to help, another tactic may be to use a tool available at the click of a mouse.

Google’s Global Market Finder tool is free and simple to use. It provides an easy step for those Oklahoma manufacturers interested in learning about what niches and markets lie outside the U.S.

According to Google, the global market finder has access to more than 1.9 billion customers around the globe, including connecting to what geographic locations where their products are in demand, estimating costs and providing translations for non-English speaking partners.

For those interested in learning more about export opportunities, real, live trade professionals are also available to help at the local level. Those interested in speaking with Oklahoma-based trade professionals should contact Jennifer Springer at the Oklahoma Department of Commerce or Marcus Verner at the U.S. Department of Trade.

(Top photo: The Oklahoma Department of Commerce – by Bo Apitz).

 

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17 good reasons for Oklahoma companies to consider exporting

While Oklahoma businesses may have difficulty picturing how to best secure stable and reliable customers outside of the U.S., there are incentives, especially for small businesses, to explore broadening their customer base to international markets. According to the latest white paper from the Export-Import Bank of the United States, small businesses that export products are 17 percent more profitable than those that do not.

If you’re an Oklahoma small or medium sized business ready to explore these options, check out the EXIM publication that helps firms determine who they’re doing business with and how they can ensure full and timely payment.

Check out “Export Evaluation: 7 Things Every Foreign Buyer Credit Report Must Have and Why.”

If you’ve still got questions as an Oklahoma business owner interested in learning more about exporting abroad, reach out to us at info@okgit.com and we’ll point you in the right direction.

 

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Resources to ensure payment for Oklahoma export sales

Shipping product or payments abroad can be a daunting proposition for first time Oklahoma exporters. Even established business relationships can face challenges when doing business from a distance should an international partner file for bankruptcy, run low on cash or fail to pay an invoice. Concerns about resolving these issues keep many Oklahoma exporters from exploring options outside the U.S., but there are resources to ensure that risks businesses take are covered should the worst happen.

Below are three options for insurance that help protect the investment that Oklahoma exporters make when doing business abroad.*

 

meridian-logoMeridian Finance Group – Over the past 20 years Meridian Finance Group has helped hundreds of companies increase their sales using accounts receivable insurance. All policies brokered by Meridian are backed by top-rated credit insurance companies. We offer policies from every underwriter, enabling us to quote the most competitive terms and premium rates in the market. More significant than Meridian’s ability to place coverage is the comprehensive support we provide to our customers.

 

 

 

EHEuler Hermes – Boasting itself as the world’s leading provider of trade credit insurance, Euler Hermes provides the insight and resources you need to manage, maximize and protect your receivables. When you initiate a business credit insurance policy, their experts analyze your customers’ creditworthiness and financial stability. We then assign them specific credit limits; these are the amounts we will indemnify if those insured customers fail to pay. Our underwriters are industry specialists who will work closely with you to deliver in-depth credit analysis and ongoing account monitoring to provide early warning of potential credit risks before they become a loss.

 

 

EXIMThe Export-Import Bank of the United States – If you’re a tax payer, you’re already invested! The EXIM Bank’s Export Credit Insurance empowers American exporters to safely offer competitive open account terms to international customers, while protecting against nonpayment. They offer policies featuring free credit analysis of foreign buyers, streamlined processing and no up-front costs: no advance premium, no first-loss deductible—nothing owed pre-shipment. You pay only for what you ship, after you ship it.

 

 

 

* The Oklahoma Governor’s International Team does not endorse the services of the above organizations.
(Photo credit to  Stan Shebs.

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