Miss a recent event or looking to review the key takeaways?

The NorCalWTC provides recaps and valuable content on this page following our in-person networking and trade education events. Were you unable to participate in a recent event? Hoping to review the most important discussion points? This is your home for the latest from our Exporter Roundtable Series, International Marketing Professionals Connection, workshops, seminars and more.


Reduce taxes and streamline your company’s international accounting.
– Review tips at Recap: International Accounting

Miss our October roundtable?
– Visit Recap: Establishing Partnerships Internationally to catch up on what you missed! 

Looking for information on the Foreign Corrupt Practices Act?
– Visit Recap: Navigating Corruption in Foreign Markets for our key takeaways and tips!


Export Roundtable:
Successful & Sustainable International GrowthRecap the final exporter roundtable of 2016 and reviews strategies for sustainable international growth.

  • December 6, 2016
  • Sacramento, CA + Online
  • Featured Speaker: Courtney B. Spaeth, Chief Executive Officer
  • growth [period]

 

Practices to ensure international success

Takeaways from  Global Ties San Francisco Senior Program Officer Cortney Grekin

Courtney Spaeth founded growth[period] in 2007 and serves as CEO. With her leadership,  growth[period] has earned a solid reputation for helping companies across sectors achieve smart and sustainable growth. Clients include: Lockheed Martin, Verizon, Stanley Black and Decker, Zebra Technologies Corporation,, Sigma Tau Pharmaceutical, SAB Capital, and many other Fortune 500, middle market, and private equity firms in the U.S. and around the globe. 

Courtney led a valuable discussion that engaged both our in-person attendees and online participants. Topics included:

  • How the incoming Trump administration might impact trade;
  • How companies can gain access to specific markets;
  • An overview on market entry practices, including which countries are easier to enter; and
  • How understanding the relationship among countries and markets is critical to growth. 

Generally, Courtney felt that a good rule of measure is accepting that it will take the average business about five years to establish itself within an international market.

India

  • You need someone on the ground there to advise you about hiring effective ground agents that can effectively represent your business.
  • Have a mechanism for checks and balances to ensure your company is adhering to the Foreign Corrupt Practices Act.  For more information about FCPA, visit our Event Recaps page. 
  • Be familiar with the Tata Group and Reliance Industries. They can facilitate what you are trying to accomplish, regardless of your industry. For example, they can facilitate a company’s ability to navigate in-country distribution – which can be time-consuming and costly if not done right the first time.  
  • Build your awareness of the caste-system and, in particular choose an Indian representative for your business that can navigate appropriately in country. 

China

  • From the start, bring on a representative who speaks at least Mandarin, although both Mandarin and Cantonese is a big plus.  
  • Be aware of off-shore accounting challenges, including low auditing standards.
  • Quality control in manufacturing is improving in China but have specific plans, procedures, and standards in place to respond to counterfeiters. This is especially true if you’re within the food and agriculture industries.

Other entry points into Asia

  • As you pursue Asia, and China specifically, consider exploring Singapore first. The city-state is a multi-cultural country with ethnic Chinese making up more than 76 percent of the population. The legal system is straightforward and the country is particularly market friendly.
  • Vietnam is currently a low-barrier option as well. With a business-friendly atmosphere, tax breaks, incentives for foreign investors, and a solid U.S. Gold Key Program, Vietnam is worth serious consideration if you have goals in Asia.

As with other countries and markets around the globe, it’s important to build relationships with commerce departments and foreign representatives that are stationed in the market you’re expanding in. They can facilitate introductions and assist when challenges come up.