Tips for New Exporters

April 01, 2011, 07:02 PM

Before your company starts to export goods, some serious considerations should be contemplated. First, your company should designate a person who will be in charge of learning about and making sure your company complies with all customs rules. This is no simple task. Currently, there are numerous customs regulations, enforced by several different agencies, such as the U.S. Department of Commerce, Bureau of Industry and Security, the U.S. Department of State, and the Office of Foreign Assets Control. The first step is to become more familiar with customs regulations and determine which regulations govern the particular good that your company will export. Once you determine the regulations that apply, then you need to figure out if your company is prohibited from exporting that particular good. Even if your company is permitted to export that particular good, a license may be necessary in order to export your good, depending on the country of destination. Exporting can be a complex endeavor, involving numerous federal regulations, that carry serious civil and criminal sanctions for violations. However, exporting will open up entirely new markets to your company and may prove to be very profitable. Please contact me should your company need additional guidance in complying with export regulations. –R. Ellen Coley