Tips for New Exporters

April 1, 2011, 2:18 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 arenumerous customs regulations, enforced by several differentagencies, 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 tobecome more familiar with customs regulations anddetermine which regulations govern theparticular good that your company will export. Once you determine the regulations that apply, then you needtofigure out ifyour company is prohibited from exporting thatparticular good. Even if yourcompany ispermitted to export that particulargood, alicense may benecessary 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 criminalsanctions for violations. However, exportingwill open up entirely new markets to your company and may prove to be veryprofitable. Please contact me shouldyourcompany need additionalguidance incomplying with export regulations. --R. Ellen Coley