TEDA launches second export trade series

The fundamentals of exporting topped the agenda for today’s scheduled beginning of a 3-part business expansion series sponsored by the Terrebonne Economic Development Authority at the Terrebonne Parish Library’s east Houma branch.

Brie Knox from the Department of Commerce had the assigned focus on marketing and resource strategies, while Erin Butler-Mueller of FedEx was slated to talk about export control issues.

“I’ll be discussing business plan aspects,” said TEDA business retention and expansion director Katherine Gilbert prior to the meeting.

Attendees were told to expect coverage regarding the exporting of goods from local markets. Gilbert highlighted the development of plans and controls as well as increased Internet use for international trade.

Part two of the series is scheduled for Nov. 17. It will focus on financing the exporting of goods and services. Experts plan to address attendees about the differences between export and import banks, and how to work with each one accordingly.

The third session of this series is slated for Dec. 15 when TEDA CEO Mike Ferdinand will speak about dealing with commerce and cultural differences. Houma attorney John Schoonenberg will also be part of a panel telling attendees how to protect their businesses in international trade.

“A lot of what we try to do is bring the information out to the business community,” Gilbert said. “[O]ne of the ways a company [can] diversify itself is by reaching out and marketing in other countries.”

Gilbert emphasized the importance of companies with exportable products taking advantage of that opportunity. “Using the tools that the Department of Commerce has, working with some of these federal tools on the financing end, not only can you identify and hone in on a new market and go on a trade mission and things like that, but you can use government insurance products and financing to make your deal happen,” she said.

Gilbert confirmed that more American companies should focus less on importing and more on exporting. “Importing brings benefits, but exporting brings new money into your economy. And new money is economic development,” she said.