Eight North Dakota Companies Begin Exporting
Posted on August 17, 2011
Eight North Dakota companies, representing the manufacturing, service and education industries, participated in the latest ExporTech™ session (for confidentiality reasons, we are not disclosing the company names). Over the course of 12 weeks they learned firsthand from regional experts in export strategy and planning, capacity building, market selection, marketing, financing, contracts, transportation, and intellectual property protection.
Working with their individual coaches, they researched the markets for their specific product or service and wrote an International Growth Plan. Each plan was presented to a group of peers – companies who have experience in exporting – for feedback and practical advice. Companies who participate in an ExporTech™ program historically report significant impacts to their bottom line:
- An average increase in sales of almost $170,000
- Generation of export sales in 3 to 6 months upon completing the program
- An average cost savings of $34,000
- An average time savings of 120 hours of labor
- A gain in operating margin of 10 times the investment
With ongoing follow-up provided by the Dakota MEP, the North Dakota Trade Office and U.S. Commercial Service we expect these companies will realize these types of impacts as well.
On behalf of the sponsors, Dakota MEP, the North Dakota Trade Office, and the U.S. Commercial Service, congratulations are in order to the participating companies for their accomplishment, and thanks go out to the many presenters, experts and companies who volunteered their time to make this ExporTech™ a success.
If you’re interested in participating in an ExporTech™, please contact NDTO’s Director of Global Business Development Sharon May at (701) 231-1158 or Sharon@ndto.com