In preparing our templates for Global Export Promotion Programs, our starting point was to understand why SMEs are not more active in export markets. Studies around the world* identified these common barriers:

1. Very few SMEs have an export plan.
2. They are deterred from entering export markets by perceived complexities and costs.
3. Traditional advice is to first select a particular export market. Then they have to dedicate significant time and resources in approaching that market - without any proof that there is indeed a market for their goods or services. Not surprisingly, few SMEs take this risk.
4. Another common complaint from SMEs is that, although there are organisations and companies providing export support services, none cover the complete export journey (from approaching a market for the first time right through to the completion of resulting export contracts). As a result, many SME export campaigns quickly fall by the roadside.

However, notwithstanding these barriers, SMEs usually welcome export queries. Therefore, the potential to increase sales is there.

The challenge is to turn this passive approach to proactive and provide cost-effective support for the 6 Key Challenges in International Trade (and make sure that SMEs are aware of the solution).

So, we knew we had to find a complete, holistic solution* to:

1. Connect Buyers & Suppliers.
2. Help resolve communications.
3. Indicate tools, techniques and resources to facilitate risk reduction and risk management.
4. For physical trades, provide links services to manage logistics and supply chain management.
5. Provide a checklist for the costs, financing and pricing issues to be considered.
6. Outline the documentation that may be required and explain the (positive) impact of digitalisation on international trade.

*After all, our Mission is to make B2B International Trade Simple for SMEs.

*To cite just a few:

• FSB-Export-Taskforce-Recommendations.pdf
• Study_of_Barriers_of_Internationalisation_of_SMEs.pdf
• Challenges_and_concerns_for_SMEs_doing_business_in_3rd_countries.pdf
• Key_determinants_of_SMEs_export_performance.pdf
• Quantifying_Export_Potential_and_Barriers_of_SMEs.pdf
• The_Role_of_Trade_Barriers_in_SME_Internationalisation.pdf
• Export_Barriers_for_SMEs.pdf
• A_Cross-National_Study_of_internationalisation_barriers with reference to SME_Value_Chain.pdf
• An Analysis of the Barriers Hindering Small Business Export Development.pdf
• Types and Severities of Export Barriers_ Evidence from Indonesia.pdf
• Removing_Barriers_to_SME_Access_to_International_Markets.pdf
• UK-SME-Exporting-FINAL-VERSION.pdf

So, how do resolve the 6 Key Challenges and put together a Global Export Promotion Program? Especially given the cost and logistic issues to be resolved?

TradeTech has addressed these challenges by combining our business relationships, experience with AI and proprietary databases, to construct a comprehensive, holistic Global Export Promotion Program.

The Five Key Elements of a Global Export Program are:

1. Export Guides.
2. A program of Virtual Trade Missions (which may or may not be followed up by Physical Trade Missions).
3. Regular Newsletters advising companies of the latest opportunities in international markets.
4. Access to a full range of international trade service providers.
5. Training programs.

Export Guides - Tailored, and as necessary translated, to reflect the realities of a specific, targeted country, These guides cover:

• The benefits of international trade.
• Popular misconceptions that international trade is not for SMEs.
• How to target the world.
• How to target specific countries.
• Communicating and engaging with foreign companies.
• Risk reduction & management.
• Logistics & supply chain management.
• Costs, Finance and FX considerations.
• Pricing and Payment Terms.
• Export\Import Documentation & Digitalisation.

Every chapter describes what is required or is offered and who and how to contact relevant service providers. See:

1. The_Essential_Guide_to_B2B_International Trade_(International_Edition).pdf; and
2. The_Essential_Guide_to_B2B_International Trade_UK_Edition.pdf

The first is a Guide that can be used by any SME no matter where they are based.

The second is the UK Edition which includes everything in the International Edition plus UK specific resources and services. This edition also shows how similar versions can be constructed for other countries.

Virtual Trade Missions - TradeTech's approach: An essential element of any Global Export Promotion Program Template is a concentrated series of VTMs*. TradeTech's approach is to structure them as follows:

1. Virtual Trade Missions are organised in blocks of 3 countries.
2. Say, 2 months lead time to the first Virtual Trade Mission of a single block of 3 countries - with 2 week gaps between each country*.
3. The Multilingual Microsites also function as Virtual Stands - so, no need to configure stands for each event.
4. All presentations are pre-recorded (only moderators are needed to provide a "live" element) - and are optimised to the equivalent of a maximum of 15 PowerPoint Slides and 12 minutes of audio text. These are then translated into the appropriate language for each VTM*.
5. Access to the proprietary databases allows us to create closely targeted marketing mailing lists.
6. Each VTM has a follow-up program (including TradeTech's Business Matching Promise).
7. The Exhibition Area and the Presentation program remain online for 6 months.
8. They are very low-cost (indicatively: a couple of hundred pounds/dollars/euros for Exhibitors per VTM).

*See:

• TradeTech's Guide to VTM Video Presentations
• TradeTech's Guide to VTM Video Audio Files
• Avatar Personalisation. Cloning voices and creating personalised avatars.
• TradeTech's Female Avatars
• TradeTech's Male Avatars

and:

• Briefing Note for VTM Video Presentations.pdf
• Personalised Avatar - Photo Requirements.pdf
• Generic Avatar Audio Text.pdf

Regular Newsletters - these are down to the partners. International trade is dynamic with many changes in conditions and opportunities. Therefore, the content should cover (a) new business opportunities (b) changes in market conditions (c) new services being offered and (d) new online resources relevant to the home country in question.

Access to a full range of international trade service providers - not everything can be managed in-house. There are ranges of services: e.g. legal, accounting, logistics, financial etc. that can be best covered by outside professionals. Providing access to these professionals (e.g. via the Guides or an online directory), the partner can greatly assist SMEs to receive the complete A-Z support that they may need.

Training programs: External support, guides and newsletters are often not enough. Providing training (either physical or online) to cover various aspects of operational, administrative and marketing procedures can be a valuable addition to the overall program.

So there you have the outline of a proactive solution that resolves the 6 Key Challenges of International Trade:

1. Buyers & Suppliers are introduced to each other: Multilingual Microsites, VTMs, the Business Matching Service - plus extra channels.
2. Communication: techniques, tools and advice how to deal with foreign language issues.
3. Risk Reduction & Management: tools, techniques and resources to facilitate risk reduction and risk management.
4. Logistics & Supply Chain Management: relevant resources and advice are suggested.
5. Pricing Issues: resolved through international trade costing tools.
6. Documentation & Digitalisation: templates, relevant services and platforms are suggested.

Thus, the Global Export Promotion Program allows SMEs to:

• Understand: The benefits of exports and how to prepare and develop their export plan.

• Understand: How to close export sales - and realise their potential.

• Enter new markets: (with two low-cost resources, SMEs do not have to choose a single market - they get global exposure):

1. By publishing their Multilingual Microsite (35 languages covering 95% of Global GDP) - they extend their passive reach.
2. By participating in a series of Virtual Trade Missions - they can actively evaluate specific market opportunities; without leaving their office.

• Access support services: covering the A to Z requirements of their international journey.

Three final points:

1. The flexibility of the solution. There is a complete, holistic solution, but SMEs choose only those services they need.
2. The basic structure of the solution is the same for all countries. However, some services will be specific to the targeted countries.
3. It must be explained to SMEs that there is no magic wand. If they want to exploit their international potential, they will have to put in time, effort and resources.

See how ICC Ukraine is promoting its "Ukraine is Open for Business" Global Export Promotion Program (In Ukrainian it is "Open Your Horizon to New Business."

To discuss how we could help you to implement your Global Export Promotion Program please contact our helpdesk.

*Allowing for holiday periods, 18 VTMs (6 blocks of 3) can easily be held over a 12 month period.