Expanded Global Network Helps Companies Reach New Markets
WEDC’s market development directors, based in Madison, Wis., are the first point of contact to help companies identify specific needs and answer high-level questions about the market. If needed, they then direct businesses to the organization’s trade representatives in each country to provide market assessments, partner searches and business meeting facilitation.
“WEDC has identified these priority markets with high growth potential,” Klenke says. “These markets may be new for many Wisconsin firms and require additional resources or assistance to pursue export opportunities.”
Wisconsin exported $23.1 billion worth of goods in 2012, an increase of 4.6 percent over 2011. In addition to Wisconsin’s two largest markets (Canada and Mexico), where many new exporters get their start, WEDC has identified these as priority markets with high growth potential.
“With 96 percent of the world’s population consuming products outside the U.S. and one billion people expected to join the global middle class in the next decade, Wisconsin businesses have tremendous opportunities outside U.S. borders,” Klenke says.
Countries in Global Network
|New Zealand||South Korea||Namibia|
|United Arab Emirates||United Kingdom||Swaziland|
Market Assessments – Identify cultural issues, market size and trends, channels of distribution, existing competition, pricing, complementary companies and products, regulatory issues, and tariffs. This critical information helps Wisconsin companies develop entry strategies, select the right partners and succeed in the market.
Partner Search – Identify leading candidates for agents, distributors, representatives, end-user customers and other market intermediaries needed for the market. Wisconsin businesses receive a prospect list, background information and feedback on the product’s chances of success in the market.
Business Meeting Facilitation – When Wisconsin businesses are ready to travel to the market, trade representatives schedule appointments, provide recommendations on travel logistics, assist in hiring translators, and make references to local lawyers, bankers and accountants. The trade representatives also provide counseling on local business culture and tips on negotiating and follow-up.
Any business interested in WEDC’s Global Network services can contact the appropriate market development director:
Americas and Europe
India, Africa, Middle East