The Arkansas Small Business and Technology Development Center’s Export Snapshot gives small businesses a sense of their international opportunities.
“Without a doubt, exporting represents an untapped market opportunity for small businesses, yet many Arkansas businesses overlook customers outside the U.S.,” said Heather Robinette, ASBTDC consulting and market research manager.
“The snapshots are designed to provide small business owners initial insight into international market opportunities,” she said. “Our business consultants are using this tool statewide to engage clients in discussion about whether exporting is a viable option and which countries they want to research first.”
Each Export Snapshot includes the top five export markets for the client’s industry, the size and growth rate of the international market for the industry or product, plus domestic trends to consider. Internet links to international trade resources, information, and statistics also appear.
Like all the center’s market research services, the Export Snapshot is available to clients at no charge.
Graduate Assistants Play Key Role
Consultants request the snapshots for their clients. ASBTDC Lead Center Graduate Assistants Luis Cabanellas and Martial Trigeaud research and compile the customized snapshot for each company, in collaboration with Chris Kleinhofs, the center’s market research specialist.
“The students’ work on the Export Snapshot is key to ASBTDC’s ability to provide individualized and industry-specific research reports for each company. Luis and Martial have done an excellent job researching and preparing these reports,” said Robinette.
Cabanellas, a native of Madrid, Spain, will complete his Master of Business Administration at UALR next spring. He is also pursuing a Business Analytics certificate and says his work at the center is “a good match” with the certificate program.
“The Business Analytics certificate is about how to use data to make decisions. We are providing data and information to (ASBTDC) customers to make decisions,” he said. “This give me a better understanding of what goes into making decisions and what goes into starting a business and being successful.”
Trigeaud is an MBA student from Angouleme, France. As a European, he recognizes the barriers Arkansas companies that want to export face.
“Regulations, the economic system, and consumer habits are completely different in Europe,” said Trigeaud. “I know what was hard for me to learn about the U.S., so I can imagine what will be hard for our small business customers who want to export. The Export Snapshot is a very good introduction for small businesses before they take the critical step to send their product outside the U.S.”
The global snapshots complement the other customized market research data and analysis ASBTDC provides to clients.
“The Export Snapshots have been very well received by my clients,” said Martha Londagin, a business consultant at the ASBTDC at the University of Arkansas in Fayetteville. “These snapshots have given them great leads for exactly which countries are most purchasing U.S. exported goods and services in their market areas, and this in turn has helped them draft more targeted online marketing plans and helped them decide which countries’ trade shows to attend.
“It is a wonderful new resource for our clients and really opens the door to exporting discussions for us as business consultants.”