TEPA Newsletter- November 2016
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The Key to OECS Export Success
Let’s face it! As a Caribbean-based business and entrepreneur operating in the Eastern Caribbean your company’s growth is restricted by the small size of the local market and the declined economy. Indeed, reaping profits from your island’s already… Read More…[/column]
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A Unique Buying Experience
Featuring 100 of the best exporters from Saint Lucia, Martinique and the OECS, Specialty Caribbean Expo promises to be the ideal one-stop-shop location to discover new product and service gems that will revitalize your business… Read More…[/column]
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Exhibiting Caribbean Ingenuity
Creativity, innovation and inventiveness are deeply rooted in our Caribbean culture and lifestyle. A unique, undeniable resourcefulness resonates at our core; evident for centuries; passed on from generation to generation.With each turn… Read More… [/column]
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Supporting the Caribbean Economy
Entrepreneurs are the lifeblood of the economy. Whether big or small; goods manufacturers or service providers; Caribbean entrepreneurs play a vital role economically and socially—creating jobs and wealth, sustaining development and spurring… Read More… [/column]
Trade Information Product
TEPA provides a number of tools to assist you in Market Research Check them out here.
https://exportsaintlucia.org/category/market-intelligence-research/
Upcoming Events
Specialty Caribbean Expo 2017
Specialty Caribbean Expo will run for four days from March 9-12, 2017, at the Darren Sammy Cricket Ground, Gros Islet, Saint Lucia. Through this show, patrons will appreciate the quality of the range of products and services being showcased by existing and potential exporters in both the domestic and international markets. Additionally, the event will serve as a platform for networking, solutions and transaction exchanges with OECS and Martinique business/exporters.
Sponsors
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ASK Anthony
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- What are some of the challenges in Exporting Services?
Some of the challenges service providers experience in exporting services is as follows:
- Most service providers are very small businesses with limited resources
- Access to finance. Service providers encounter difficulty in accessing financing due to intangibility
- many rush into markets without adequate preparation
- Services providers are selling a “promise“that they will deliver. Services are invisible and intangible (no samples)
- governments often do not focus trade promotion on services
- unlike products in most cases, cannot use agents, distributors
- need to establish profile, credibility
- need to create new networks for word-of-mouth referrals
When selecting an export market for your product and/or service, the following should be considered:2. How to do I select an Export Market?
- Contacts or referrals
- Potential partner
- Easy market access
- Ties to your region/country
- Language and cultural similarities
- Business practices
- Cost of doing business
- Personal interest
- Political stability
- Legal framework
- Market access / bilateral agreements
- Economic trends
- Known demand for your service in the market
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EXPORT TIP
- Many new exporters jump into potential markets too quickly, unprepared, and fail. It is important to do the necessary preparatory work or you risk losing the investment of your time and resourcesDID YOU KNOWDid you know there are 4 Modes for exporting services?Mode 1: Cross Border (i.e. the service itself crosses the border) e.g. Management consulting, ICT, Marketing, EngineeringMode 2: Consumption abroad (i.e. the consumer travels across the border) e.g. Tourism and travel, Education and Training, legal, Health servicesMode 3: Commercial presence (i.e. establishment of an office or entity abroad) e.g. Insurance, Financial, Construction servicesMode 4: Movement of Natural persons (i.e. the supplier travels across the border) e.g. Arts and craft, recreation and sporting, education and training
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