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in this issue SBDC News & Information Centers Respond to Growing Concerns about Economic Conditions Bright Ideas: Energy-Saving Upgrades Pay Off for University of Scranton SBDC Client Penn State SBDC Workshop Examines Business Opportunities in a Challenging Economy Small Business Institute Positions Northeastern PA Business Owners for Success Full Steam Ahead: Brookville Equipment Corporation Celebrates Long-Term Success Capitol Views: Congressman Jason Altmire Veteran Builds Rock-Solid Business with Wilkes University SBDC Help University of Pittsburgh SBDC Bolsters Region's Growing Tech Community Educational Programs |
If the Weak Dollar is Hurting You, Exporting May Be the Answer By Todd Dolbin, Marketing Analyst, Saint Francis University SBDC
Everyone has heard the adage, “when given lemons, make lemonade.” With talk of a recession and the weakening US dollar, how can small businesses position themselves for growth? The US dollar continues to struggle against the currencies of Pennsylvania’s top exporting countries: Canada, Mexico, China, Japan, UK and countries in the EU. Because of the declining dollar, exporting may be a way for small businesses to prosper by offering competitive prices on products in international markets. The Saint Francis University Small Business Development Center assists companies in the Southern Alleghenies region that have been receiving a higher volume of Requests for Quotations and sales from foreign buyers due to the weak dollar. Through a combination of effective marketing and the declining US dollar, SBDC clients such as CAB, Helsel Lumber and J&J Truck Bodies have shown a dramatic increase in export sales. CAB Products, a mine safety manufacturer from Ebensburg, is expecting to double Australian sales by 2009.Helsel Lumber, a lumber mill in Cambria County, attributes their success in the Chinese and Asian market due to their marketing efforts and weak dollar. J&J Truck Bodies, a dump truck manufacturer from Somerset, has seen a dramatic increase in sales from Russia and Europe and plans several trips to Asia later this year. These successes show how exporting is an excellent way for PA small businesses to grow during a shaky economy. Take
advantage of the weak dollar and learn more about international trade, exporting procedures, and researching international
opportunities by contacting the local SBDC office in your region.
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Consultant Profile: Todd Dolbin Todd Dolbin is Marketing Analyst at the Center for Global Competitiveness with the Saint Francis University SBDC. Serving clients in the Southern Alleghenies, Todd works with businesses seeking international assistance regarding export documentation, international market research and trade financing. Specific industries include mining, safety and security, lumber and defense equipment. In September 2007, the Saint Francis University SBDC organized a trade mission to the AIMEX mining show in Sydney, Australia. With 10 participating businesses, the successful trade mission generated interested distributors and buyers and has already increased sales for local businesses by $120,000. In January, Rotary International’s Global Exchange Program selected Todd to represent western Pennsylvania in Cordoba, Argentina to open doors for Pennsylvania exporters to do business with companies in Argentina. Prior to his position with the SBDC, Todd worked in Kanazawa, Japan for two years managing educational centers for GEOS Language Corporation. He has a B.S. in Marketing and International Business with minors in Economics and International Studies from Penn State University. He has studied internationally at the University of Singapore and is currently working on his MBA at Saint Francis University, where he occasionally lectures to undergraduate students on international trade. Recently, while attending the NASBITE Annual Conference in March, Todd passed the Certified Global Business Professional
(CGBP) exam, awarded to individuals with a strong understanding of international trade issues and processes.
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