December 5, 2022
December Newsletter
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Wisconsin Small Business Development Center's Go Global Newsletter.

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Trade in Services part 2



Looking analytically at yourself and your services will help you craft your value-add statement. Then you can answer: Why should they hire me? How am I different? Why is hiring me the best choice?

Here are my top three considerations when evaluating a foreign market:

  • Can you carry out certain processes to ensure that there is a quality interaction between you and your client in the foreign market? Can that same intangible be transferred and controlled to the same standards in the domestic market?
  • Can you reproduce the service in the foreign market? Bearing in mind that different cultures, political and economic environments could impact the type of service you are trying to export.
  • How will you ensure consistency? Will that foreign customer get the same level of service each time they use your service? Are you in it for the long run?

Keep reading for some practicalities to consider...
India is rising fast, but Modi must drive with care

Source: Gzero Media

India is set to become the world's No. 3 economy within five years. But growing so rapidly will test the pragmatism of its Hindu-nationalist prime minister.

India’s decade is here. According to two recent reports by Morgan Stanley and S&P, the world’s second-most populous country is set to become the planet’s third-largest economy by as early as 2027.

Already the fastest-growing major economy in the world, India’s GDP is expected to double from its current $3.5 trillion by 2031. That means that all else being equal, India will be economically neck and neck with Japan and Germany by the middle of the next US presidential term.

India’s booming GDP will likely change the destiny of many of its billion-plus consumers. New initiatives are already changing the way Indians borrow, consume, and access healthcare. As Indians overtake the Chinese as the world’s largest population — perhaps as early as next year — they will likely have more disposable income too. The country’s income inequality gap will likely decrease, with consumption expected to more than double from $2 trillion to $4.9 trillion by 2030. 




Attend the WCTC Export Compliance Program Workshop - Scholarships Available!

When: December 16, 2022 | 9:00 a.m. - 3:00 p.m.
Where: In-Person (F2F)* or Online 
Cost: $295/per participant, $90 after scholarship
 
A comprehensive Export Compliance Program (ECP) ensures that your organization has a road map for employees to follow and provides the basis for your compliance training program. The ECP should include step-by-step procedures to ensure employees know what to do and where to turn for
guidance through the complex process of complying with US export regulations.
 
·    This workshop is ideally suited for organizations that are currently exporting and want to do it more effectively.
·    Create the framework for an effective ECP that is widely shared, understood, and practiced within your organization.
·    Identify the eight key elements of an Export Compliance Program.
·    Determine the risks of violating export controls.
·    Benchmark your current ECP with best practices.
 
The Wisconsin District Export Council (DEC) has been awarded a Collaborative Market Access Grant (CMAG) from the Wisconsin Economic Development Corporation (WEDC). The grant funds can be used to send up to 2 participants per company to attend ‘Develop Your Export Compliance Program’ for just $90 per person (the grant will provide a reimbursement of $205 per person at the completion of the program).  
 
Approval for reimbursement is based on available funds and the qualifications of the applications. Submission of an application does not guarantee awarding of scholarship funds. For additional information on scholarship qualifications or to request an application please contact the Wisconsin DEC at: info@widistrictexportcouncil.org. 
 
*A light breakfast and lunch will be provided for the in-person participants
Doing Business in Thailand and Vietnam
Attend the SBDC Doing Business in Thailand and Vietnam Workshop - Free!

When: January 4th 2023| 9:00 a.m. - 12:00 p.m.
Where: Online 
Cost: Free
Our webinar supports the WEDC's in-country trade venture to Thailand and Vietnam. Attendees will learn about market opportunities and how to position their companies for success. Presenters will provide unique information for companies joining the venture as well as those companies who can't travel, but wish to learn more about these countries.

Register here for this event.
The Wisconsin District Export Council is proud to present the Stop Fakes Roadshow. This awesome event includes an opportunity to go one-on-one with the International Trade Administration's Office of Standards and Intellectual Property staff. Stay tuned for more details and registration!
Ready to Explore New International Markets?
The Go Global Initiative is available to any and all Wisconsin companies who are looking to grow into new or existing international markets. Take advantage of our Free Export Assessment Tool and discover the trade resources available to your company today!
About us
The Wisconsin SBDC Network is funded in part through a Cooperative Agreement with the U.S. Small Business Administration. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Email SBDC@lists.wisconsin.edu or call 608-263-7794.