An International Business Plan: Your First Step
Are you a small business owner who has always thought about engaging in international trade, but you’re just not sure where to begin? The thought of international trade can be overwhelming. The counselors at America’s SBDC Iowa can help you with a strong foundation to increase the outreach of your business.
Where do I begin with exploring international trade? A good place to begin is to establish a solid business plan. A typical business plan has you put into words your business opportunity, products and services, marketing plan and market research, operational plan and how you will fund your business. With international trade, many aspects of your plan will need to be considered. How will you market your products? Will your pricing be different abroad, as you may need different packaging and product information? How will you ship your products? Your cash flow may change as collection methods may take longer, resulting in the need for additional operating capital. A sample business plan template can be found at: https://iowasbdc.org/business-plan-template-3/.
Whether you are experienced in international trade or you are beginning to explore the idea, the counselors at America’s SBDC Iowa are ready to help!
About America’s SBDC Iowa
The team at America’s SBDC Iowa is a resource partner of the U.S. Small Business Administration and stays informed about the latest federal, state and local programs for assisting small businesses. SBDC counselors are trained to assist with international trade questions, as well as connect you to resources. An appointment for confidential, no-cost business advising at one of 15 regional centers across the state of Iowa can be requested on iowasbdc.org.
Read the Fall 2020 issue of the International Update here.