Company Matchmaking on a Global Level

Much of the Emerging Market Panel session concerned growing business in general, but Michael Masserman, director of the office advisory committee for the Department of Commerce, concluded the gathering by outlining the Commerce’s efforts to encourage businesses to grow their exporting operations via a new campaign, the National Export Initiative (NEI).

Masserman noted that obstacles such as lower credit access and higher foreign competition had resulted in a declining trend for exports, even before the recession. And the U.S. already lags behind its competitors in the area. Only one percent of companies export their products, and 58 percent of those companies export to only one other country.

Focusing on these efforts to elevate exports will help in economic recovery, Masserman said. The NEI hopes to accomplish this by focusing on three main areas: education, improved access to credit, and enforcement of international trade laws.

The effort will particularly help small businesses who don’t have the resources to make the contacts they need. After a company makes an inquiry, the Commerce will help them out by searching for the right overseas business partner to meet their need. “It’s sort of like a matchmaking service for exports,” said Masserman. He added that 5,600 companies were helped last year, 85 percent of them small-to-medium-sized businesses.

The ultimate goal will be to double the amount of exports in five years. Masserman discussed how participating company Air Tractor in Olney, Texas grew its foreign sales from 10-45 percent, and stressed that any company could achieve a similar growth. “Look abroad, because the opportunities are there,” he said.

This entry was posted on Wednesday, February 10th, 2010 at 5:02 pm and is filed under General Interest, Keynote Speakers. You can follow any responses to this entry through the RSS 2.0 feed.