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East Michigan EDCs/EDOs Information and Strategy Meeting

East Michigan EDCs/EDOs Information and Strategy Meeting. Regional Exporting Strategies Project Michigan State University Center for Community and Economic Development Thursday, December 15, 2011 10:00 am – 12:00 pm. Overview of today’s presentation.

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East Michigan EDCs/EDOs Information and Strategy Meeting

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  1. East MichiganEDCs/EDOs Information and Strategy Meeting Regional Exporting Strategies Project Michigan State University Center for Community and Economic Development Thursday, December 15, 2011 10:00 am – 12:00 pm

  2. Overview of today’s presentation • November 4thThink Global, Go Global Workshop at Delta College Onsite Survey Results. • East Michigan Online SME Exporting Survey Results and Findings, Fall, 2011.

  3. Nov 4, 2011 Think Global Workshop at Delta College Onsite survey results summary • East Michigan EDC/EDO Responses • 8 Local EDC/EDO responses. • 5 Currently provide export info. to companies. • 5 Want to provide info./assistance. • 7 Want to expand export assistance capacity.

  4. Nov 4, 2011 Think Global Workshop at Delta College Onsite survey results summary • East Michigan Business Responses • 7 Business responses (5 attended workshop). • 6 Currently exporting. • 5 need exporting assistance.

  5. Nov 4, 2011 Think Global Workshop at Delta College Onsite survey results summary • East Michigan Business Export Assistance Needs • Basic knowledge about exporting. • Info. on foreign markets. • Foreign contacts to promote business. • Sources of capital to finance exports. • Legal advice about trade regulations/foreign markets. • Logistics support/knowledge.

  6. East MI Online Exporting Survey (Fall 2011)Survey link distribution

  7. East MI Online Exporting Survey (Fall 2011)Characteristics of survey respondents • 47 businesses responded. • 17 (~36%) Saginaw • 11 (~23%) Midland • 4 (~8%) Gratiot • 4 (~8%) Bay • 3 (~6%) Tuscola • 2 (~4%) Gladwin • 26 of 44 companies (59%) < 50 employees. • 17 companies (39%) < 10 employees. • 32 of 43 companies (74%) > 10 years old. • 23 of 46 companies (50%) engaged in manufacturing.

  8. East MI Online Exporting Survey (Fall 2011)Characteristics of exporting companies • 16 businesses in 6 counties export: • 8 Saginaw. • 2 Gratiot. • 2 Midland. • 2 Ogemaw. • 1 Bay. • 1 Tuscola. • Industry sector • 13 manufacturing. • 1 agriculture, forestry, fishing, and hunting. • 1 wholesale trade. • 1 accommodation and food services.

  9. East MI Online Exporting Survey (Fall 2011)Characteristics of exporting companies

  10. East MI Online Exporting Survey (Fall 2011)Potential export market development • East Michigan companies largely exporting to Canada. • Followed closely by Mexico, the UK, and China. • 13 exporters want to expand their exporting business. • 2 non-exporting companies want to start exporting.

  11. East MI Online Exporting Survey (Fall 2011) Major exporting barriers • 10 of 15 companies cited at least one Knowledge barrier: • Lack of knowledge about export regulations; • logistics/transportation; and • foreign markets. • 10 of 15 companies cited at least one Financial barrier: • insufficient working capital; and • labor resources; • excessive financial risk; • administration costs; and • cost to compete. 

  12. East MI Online Exporting Survey (Fall 2011) Secondary exporting barriers • 5 of 15 companies cited at least one Regulatory barrier: • excessive trade regulations; • Unfair foreign trade practices; and • foreign tariffs.  • 3 of 15 companies cited at least one Infrastructure barrier: • Insufficient information/communications technology; and • access to international crossings.

  13. East MI Online Exporting Survey (Fall 2011) Export assistance needs • 13 companies indicated they could use assistance to overcome exporting barriers. • 9 need general export and trade information • 9 Marketing • 8 Logistics • 7 Market research • 4 Legal matters • 4 Export financing

  14. East MI Online Exporting Survey (Fall 2011)

  15. East MI Online Exporting Survey (Fall 2011) Export assistance experience • 5 companies indicated they used business counseling or assistance to start exporting. • 4 of these 5 companies found counseling/assistance very useful or somewhat useful.

  16. East MI Online Exporting Survey (Fall 2011) Reactive character of export market development by SMEs • How did companies get connected with foreign customers? • 11 of 15companies contacted by prospective foreign customers. • 6 of 15 connected at industry trade show or conference. • 4 of 15 referred by foreign contact or distributor.

  17. Potential Elements of Regional Exporting Strategies • Foster “Sister City” relationships. • Identify and support industry and geographic clusters. • Inventory/assessment of exporters and potential exporters in region. • Access to capital (loans, loan guarantees, grants, venture capital, angels). • Resources to reduce burden of export market entry. • Market research for specific countries and specific products/services. • Export education, training, and outreach (community college, universities, other).

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