Resource Decision Tree

Definitions

• Student

  Individuals enrolled in an academic program of study and in good standing with their educational institution in active status. This may be students in middle-school, high-school, college, university, or adult learning.

• Incumbent Worker

  An individual who is currently employed; this may include recent hires as well as those who have been employed for some length of time.

• Entrepreneur/Pre-Venture Business

  Those individuals who have taken one or more active steps to form a business.

  Many pre-venture businesses and business start-ups are categorized as “new-to-export”. Here we focus attention on helping nascent businesses become export ready, plan for export expansion, and know the resources available locally. Here you can find resources to analyze product and market research, business entity structure types, strategic planning, translation of materials, cultures and constructs, global marketing, business matching, due diligence and partner selection, marks and standards, legal compliance, tax strategy, costing, payment, financing, product packing, global shipping, and foreign direct investment.

  Many private sector service providers are able to assist as you move from one stage to the next. However, some businesses will also be eligible for public services which are often at no or low cost.

• Business Start-up

  Individual or entity which has been in business up to 12 months (less than one year).

  Many pre-venture businesses and business start-ups are categorized as “new-to-export”. Here we focus attention on helping nascent businesses become export ready, plan for export expansion, and know the resources available locally. Here you can find resources to analyze product and market research, business entity structure types, strategic planning, translation of materials, cultures and constructs, global marketing, business matching, due diligence and partner selection, marks and standards, legal compliance, tax strategy, costing, payment, financing, product packing, global shipping, and foreign direct investment.

  Many private sector service providers are able to assist as you move from one stage to the next. However, some businesses will also be eligible for public services which are often at no or low cost.

• Small Business

  An individual or entity that has completed all their required registration(s), if applicable, with the local, state, and/or Federal governments and has completed one of the following:

  • Has documented a transaction from the sale of a product or professional or personal service for the purpose of gain or profit;
  • Has contracted for or compensated an employee(s) or independent contractor(s) to perform essential business functions;
  • Has acquired debt or equity capital to pursue business operations (e.g., to purchase inventory, equipment, building, business, etc.); or
  • Has incurred business expenses in the operation of a business.

   

  The size standards for what constitutes a "small business" will vary depending on its industry. Officially, the U.S. Small Business Administration establishes the size standards for a small business and are found at 13 C.F.R. Part 121. If you want to determine if you are a small business, visit the SBA webpage "Am I a Small Business?".

  Small and expanding businesses are categorized as either “new-to-export” or “new-to-market”. The benefit of a business being in existence for a year or more expands their ability to utilize public programs and have had time to establish ample credit.

  Here we focus attention primarily on helping export-ready businesses enter foreign markets and make sales. To be considered export-ready, you must have (a) a product that has been successfully sold in the domestic market; (b) have an international marketing plan with defined goals and strategies; and (c) have corporate management committed to developing export markets and willing and able to dedicate staff, time, and resources to the process.

• Expanding Business

  Generally, an expanding business has been in business (made at least one sale) for two years or more. Expanding businesses have an established credit history and of the categories listed, hold the most potential for success in international trade with greater access to public programs and assistance.

  Small and expanding businesses are categorized as either “new-to-export” or “new-to-market”. The benefit of a business being in existence for a year or more expands their ability to utilize public programs and have had time to establish ample credit.

  Here we focus attention primarily on helping export-ready businesses enter foreign markets and make sales. To be considered export-ready, you must have (a) a product that has been successfully sold in the domestic market; (b) have an international marketing plan with defined goals and strategies; and (c) have corporate management committed to developing export markets and willing and able to dedicate staff, time, and resources to the process.