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VALET Virginia Leaders in Export Trade Orientation January 12, 2012

VALET Virginia Leaders in Export Trade Orientation January 12, 2012. VALET Class of January 2012. Valet program goal. The VALET Program’s goal is to accelerate a company’s international strategy through Planning, Expert Guidance, and Export Expense Reimbursement. Impact of the valet program.

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VALET Virginia Leaders in Export Trade Orientation January 12, 2012

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  1. VALETVirginia Leaders in Export TradeOrientationJanuary 12, 2012

  2. VALET Class of January 2012

  3. Valet program goal The VALET Program’s goalis to accelerate a company’s international strategy through Planning, Expert Guidance, and Export Expense Reimbursement

  4. Impact of the valet program • Intended Results • Increase volume (sales) of Virginia exports • Increase number of Virginia exporters • Collateral Benefits • Continued international sales post graduation • Continued engagement with VEDP • Identification of growth companies • Identification of expansion projects • Interaction with other Virginia companies • Broader support from the program partners • Three national awards reflect favorably on VEDP 

  5. Day at a glance

  6. table discussion What do you want us to say about your company at your graduation?

  7. Companies and VEDP Team VALET Program

  8. Valet participants and alumni

  9. Current VALET Participants

  10. VALET Class of January 2012 • Virginia Employees • Total Employees 1299 • Average 108 • Virginia Sales • Total $218 million • Average $18 million • Export Sales • Total $51 million • Average $4 million • Average Years in Business 22 years

  11. Trade Managers Stephanie Robinson, International Trade Manager Central Region PO Box 798/901 East Byrd StreetRichmond, Virginia 23218 Phone: (804) 545-5755Fax: (804) 545-5751 Email: SRobinson@YesVirginia.org Paul Ehrich, International Trade Manager South Central Region4502 Starkey Road, SW, Suite 100 Roanoke, Virginia 24018 Phone: (540) 772-3905 Fax: (540) 772-3906Email: PEhrich@YesVirginia.org Jordan Watkins, International Trade Manager Eastern Region500 East Main Street, Suite 1220 Norfolk, Virginia 23510 Phone: (757) 314-2358 Fax: (757) 314-2360 Email: JWatkins@YesVirginia.org Jenee Andreev, International Trade Manager Northern Region8300 Boone Boulevard, Suite 450 Vienna, Virginia 22182 Phone: (703) 506-1031 Fax: (703) 506-1033 Email: JAndreev@YesVirginia.org Roger Porter, International Trade Manager Northwest Region30 Ladd Road Fishersville, Virginia 22939 Phone: : (540) 213-0267 Fax: (540) 213-0268 Email: RPorter@YesVirginia.org

  12. VALET Team Oscar RuizVALET Program Manager PO Box 798 / 901 East Byrd StreetRichmond, Virginia 23218-0798 Phone: (804) 545-5768 Fax: (804) 545-5751 Email: ORuiz@YesVirginia.org (Serving Southwest, South Central, Northwest and Central regions) Caitlin ClarkVALET Research Manager P.O. Box 798 / 901 East Byrd StreetRichmond, Virginia 23218-0798 Phone: (804) 545-5765 Fax: (804) 545-5751 Email: cclark@YesVirginia.org

  13. Program Components VALET Program

  14. VALET Program Components • Strategic Planning • VALET Program Calendar • Plan of Action • Research • Travel • Networking and Education • Expert Guidance • Program Partners • Capital Resources • Reimbursements

  15. VALET Calendar Each participating company will be expected to send a representative to both of the VALET Program Meetings during the year (these meetings are marked above with an asterisk*). Planning

  16. VALET Calendar Each participating company will be expected to send a representative to both of the VALET Program Meetings during the year (these meetings are marked above with an asterisk*). Planning

  17. Strategic Planning VALET Program

  18. Strategic planning

  19. Strategic planning

  20. Strategic planning

  21. Strategic planning

  22. Program Partners VALET Program

  23. Program partners Advertising and Marketing Collateral • 24 Hour Company • ACCESS, Inc. Corporate Strategy and Market Entry • Capstone  • China Channel Limited Cultural Services and Translation • ABC Translation Services, LLC • TNB Language Customs Brokerage and Freight Forwarding • C V International, Inc. • UPS • UTi, United States Financial Services and Insurance BB&T, International Services Division M&T Bank Marsh USA SunTrust Bank Legal and Accounting Piascik & Associates, CPA Troutman Sanders LLP Williams Mullen Regulatory Compliance Allegheny Brokerage Co., Inc BSG Consulting Web Development and Search Engine Optimization Active Media Hodges Digital  Strategies

  24. Program Partners • Contact information • Materials • Referral Process • Consultations • Engagements • Evaluation Form • Next Steps Expert Guidance

  25. Program Partners Program Partner Introduction Process: • Group Introductions • Participants Assigned Starting Tables • At Tables (15 min each): • Partner Introductions • Questions and Answers • Each participant will visit 5 tables • At the end, will have opportunity to go to any Partner table Expert Guidance

  26. Research VALET Program

  27. VALET Program Research Manager Caitlin Clark Secondary Research

  28. Secondary Research • Research services (notebook) • Frequent requests • Resources (orientation research) • Orientation research (notebook) Secondary Research helps to better define the problem…Sometimes solves the problem!

  29. ResearchServices Product Classification Assistance with determining HS/Schedule B codes Export Compliance Provide information on export license requirements and procedures Estimate ECCN (based on what other companies are using) Documentation US documentation required to export American products to foreign market- sample documents Foreign documentation required to import American products into foreign market- sample documents Market Selection Determine top markets (destinations of US/VA exports and importers of specific products and services) Market overview (demographics, economic and political environments, trade statistics and agreements, etc.) Verify market demand (industry overview, trends, practices, and competitive landscape) Barriers to trade (import tariffs, etc.) Market Entry Relevant regulations, standards, and certifications (IPR, tax, RoHS, CC mark, etc.) Assistance on determining necessary product modifications (translation, measurements, etc.) Sales options (distributor, representative, direct, etc.) Identify Partners Industry associations, Trade shows Identify potential importers/sales companies as customers/distributors/representatives Due Diligence Denied Entities List, Company databases and internet search for company information, Company registration Shipping Incoterms US and foreign shipping security regulations (CTPAT, FAST, ACE, PARS, etc.) Landed cost analysis- final price estimate of client's product in foreign market Marketing Opportunities Trade shows, publications, and web portals, RFP/Tender procedures and announcements in foreign market Other Available information on competitors Travel preparations (cultural overviews, etc.) US government initiatives Financing and payment considerations (country and currency risk, financing resources) Please keep in mind that secondary resources are not as extensive as those of our in-country consultants, so results may be limited.

  30. Frequent requests Research Examples

  31. Resources Subscriptions to databases and publications Company profiles Trade and economic statistics Bills of lading Trade events US and foreign government websites’ and trade promotion agencies International institutions Market and industry news Trade Resources to Explore VEDP Fast Facts – Countries VEDP Fast Facts - Topics Export.gov – Maintained by the Department of Commerce, check out the FAQ page and market research library (must set up a free account in order to access most market research) United Kingdom Trade and Investment – Like export.gov, the UK’s trade promotion office provides free market research by sector and country. If you can’t find what you’re looking for at export.gov, try UKTI. GlobalEDGE This website has everything, country and industry profiles, a global resource directory, online course modules, and tons of other tools. GlobalTrade.net – Aggregates market research and industry news from numerous international resources. Check out the market analyses and business tips sections. The website also provides a database of foreign trade service providers. Business without Borders “Global Opportunity Tool” – Developed by The Economist Intelligence Unit, the tool allows exploration different international markets (55 countries) based on data from specific industries (385 products or services). The Federation of International Trade Associations (FITA) - Provides international import export trade leads, events, and links to more than 8,000 international trade (export import) related websites. Global Small Business Blog – Updated daily with trade-related news articles and perspectives Also check out the VALET Members Only Research Resources (username: valet; password: participant)

  32. General • A Basic Guide to Exporting (Department of Commerce) • Compliance Guidelines: How to Develop an Effective Export Management and Compliance Program and Manual (Bureau of Industry and Security) • Market Selection Table • Executive Survey on Emerging Markets (Deloitte) • Do's and Don'ts of International Distribution/Agency Agreements (Kaufman & Canoles) • Trade Finance Guide (Department of Commerce) • Customized • Hoover’s, Onesource, or Kompass company database profiles • Trade statistics for product or service • Competitors’ trade profiles • Sector/market reports • Resources (industry associations, publications, etc.) • Industry indicators Orientation Research

  33. Primary Research Global Network Research

  34. Global Network The Global Network is a comprehensive group of pre-screened in-country consultants who work with the Division of International Trade on behalf of Virginia companies.  These consultants deliver top-notch market research specific to your industry and your target market. Some fees do apply. • Hungary • India • Ireland • Israel • Italy • Japan • Jordan • Latvia • Lithuania • Malaysia • Mexico • The Netherlands • New Zealand • Norway • Poland • Argentina • Australia • Belgium • Brazil • Bulgaria • Canada • Chile • China and Hong Kong • Costa Rica • Czech Republic • Denmark • Estonia • Finland • France • Germany • Qatar • Romania • Russia • Saudi Arabia • Singapore • Slovakia • South Africa • Spain • Sweden • Thailand • Turkey • UAE • Ukraine • United Kingdom • Vietnam

  35. In-country consultants Japan Koji Deguchi China Joyce Hua Mexico Margo Galvan There is no cost to VALET companies for research projects completed by Koji, Joyce or Margo

  36. Round Table Discussion

  37. Travel VALET Program

  38. VALET Program Travel Requirement • Participate in one VEDP trade event over the course of your two years in the program • Reimbursements • Final $2500 will be held until company commits to or participates in a VEDP trade event • Options • Group Market Visit • Independent Market Visit • Add-on to previously planned trip or trade show

  39. Group Market visits 2012 • India February 20-24 • Saudi Arabia/Qatar March 10-14 • China April 16-20 • South Africa May 7-11 • Brazil May 21-25 • Farnborough Airshow July 9-15 Register online at http://www.exportvirginia.org/schedule_market_visits.html The Group Market Visit Schedule for fiscal year 2013 (July 2012 – June 2013) will be posted by end of February, 2012.

  40. “VEDP market visits are organized, well planned, and achieve great results. The matchmaking program allows Virginia companies to directly connect with pre-screened clients and potential partners, matched and selected in advance. As a result, the market visits are less stressful, more productive and allow us to concentrate on why we came: business.” Market visits INCREASE SALES….DECREASE RISK !

  41. “All the meetings went extremely well and I couldn’t be happier with the reception of the companies in Germany and the UK…. Thanks to all of the VEDP staff for following through, this trip has already paid for itself and continues to add major highlights to our development in the world market.” Market visits Private meetings with potential distributors and customers

  42. independentmarket visits • If you would like to visit a county outside of the VEDP’s Group Market Visit schedule, you may consider organizing an independent market visit through the VEDP’s Global Network • 45 countries • 3 days of meetings for $3000-$4000 (depending on the country) • China, Japan and Mexico are $500 a day, if you require on the ground assistance • VEDP will connect you with in-country consultants who identify, screen and set appointments with qualified distributors, agents, or partners

  43. Independent Market Visit Countries • Hungary • India • Ireland • Israel • Italy • Japan • Jordan • Latvia • Lithuania • Malaysia • Mexico • The Netherlands • New Zealand • Norway • Poland Argentina Australia Belgium Brazil Bulgaria Canada Chile China and Hong Kong Costa Rica Czech Republic Denmark Estonia Finland France Germany • Qatar • Romania • Russia • Saudi Arabia • Singapore • Slovakia • South Africa • Spain • Sweden • Thailand • Turkey • UAE • Ukraine • United Kingdom • Vietnam

  44. Participant Agreement VALET Program

  45. Networking and Education VALET Program

  46. Networking and education • Recent Content: • April 2011 • Focus: Marketing and Translation • October 2011 • Focus: Managing Risk (legal, financial, accounting) • Virginia Conference on World Trade • Upcoming Meetings: • April 18, 2012 in Richmond • October 19, 2012 in conjunction with the Virginia Conference on World Trade in Roanoke • Additional Opportunities • Financing Options • Website and Software Localization

  47. Expense Reimbursement VALET Program

  48. Expense Reimbursement • Guidelines • Reimbursable and non-reimbursable expenses • Time period • Jan 1, 2012 – Dec 31, 2013 • Reimbursement form • Unique project code for each company • Relevance, paid invoice are required $15,000!!! Expense Reimbursement

  49. Client impact statements, Media, next steps

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