The IBA has a full calendar of conferences, seminars, workshops on various international business topics that are led by foreign and national experts. These programs are aimed at small businesses that are interested in taking their products or services to the international marketplace. The IBA also organizes trade missions for groups or individual companies. Please contact the IBA if you, your company, group or community would like to participate in any of these activities.
Export/ Import Counseling:
A small business new to exporting/importing must consider a myriad of issues in order to give his/her project the maximum chances of success. The IBA can provide small businesses with the necessary resources to guide them through the export/import process. The IBA’s network of international consultants is on standby to provide personal assistance in their respective fields of specialty.
International Finance Counseling:
The financial risks of doing business abroad generally fall into one of three categories:
- Commercial risks:
You are not paid by your foreign buyers due to lack of money or a dispute related to the contract or transaction. Through insurance programs such as those offered by the Export-Import Bank of the United States, you can protect yourself against such risks.
- Political and economic risks:
Foreign governments have, from time to time, restricted or prohibited commercial payments due to economic downturn or political instability. Some companies elect to obtain insurance from the Export-Import Bank and a few private vendors to cover these kinds of risks.
- Currency risks:
This refers to the risk encountered if the exchange rate between the local currency and the U.S. dollar changes. To protect themselves from having to monitor international currency movements, many U.S. exporters keep their contracts and payment terms in U.S. dollars.
The IBA provides information on programs that exist to mitigate international financial risks, as well as counseling to companies venturing into international markets. Please contact the IBA for help with your international financing questions.