Latest / The SmallBizChat with Melinda Emerson / Helping Philadelphia Area Businesses Export with Thomas Young

Transcript

Helping Philadelphia Area Businesses Export with Thomas Young · The SmallBizChat with Melinda Emerson

• 0:00
  3, 2, 1, 0, ignition.
• 0:06
  Lift off.
• 0:09
  Ending small business failure.
• 0:11
  Welcome to the small biz chat podcast with the number 1 small business expert, Melinda
• 0:17
  Emerson.
• 0:18
  Melinda's goal is to end small business failure, and she'll give you the information
• 0:23
  you need succeed and live the life you dream of.
• 0:26
  Now here's your host, the small Biz chat lady herself, Melinda Emerson.
• 0:34
  Have you subscribed to the small bizchett podcast?
• 0:37
  Well, it's time every Wednesday we offer listeners bite sized actionable tips to start
• 0:43
  and grow a successful small business.
• 0:45
  And just 20 minutes or so a week you can get a ton of insight and resources to propel your
• 0:52
  business forward.
• 0:53
  Be sure to subscribe to the small beachhead podcast today.
• 0:57
  Hi there.
• 0:58
  Welcome to the Small Bishop podcast.
• 1:00
  I'm Melinda Emerson, the small biz lady, and I'm your host, and I am so excited to be
• 1:06
  interviewing Mr.
• 1:07
  Thomas Young.
• 1:09
  Thomas is the president of the World Trade Center Greater Philadelphia.
• 1:14
  He gained more than a decade of comprehensive experience in legislative affairs, policy
• 1:20
  advising, and public engagement during his tenure at Bellevue Strategies.
• 1:25
  Thomas's background encompasses significant and diverse political campaigns, notably Ken
• 1:30
  Lawrence who ran for Montgomery County Commissioner, Donna Bullock, for state
• 1:34
  representative, and Lynn Abraham Ramirez.
• 1:37
  His passion these days is helping Philadelphia area businesses expert outside of the United
• 1:43
  States.
• 1:44
  Thomas, welcome to the small fish chat podcast.
• 1:47
  Thank you for having me today, Melinda.
• 1:50
  Alright.
• 1:50
  So first of all, what is the World Trade Center Association?
• 1:55
  I thought the World Trade Center was a building.
• 1:57
  I had no idea that it was actually an organization.
• 2:02
  Can you tell me about its origins?
• 2:04
  Sure.
• 2:04
  Absolutely.
• 2:05
  So the World Trade Center Green in Philadelphia, It's a 501c3 member based
• 2:10
  nonprofit.
• 2:12
  Our purpose is really to foster business growth and prosperity through global trade.
• 2:18
  We support local companies across various industries and various sizes through a variety
• 2:23
  of region, I'm sorry, of international trade programs in partnerships.
• 2:29
  So we really help our local regional economy, in our small businesses.
• 2:35
  Now the World Trade Center Association, it's not just in Philadelphia.
• 2:40
  Right?
• 2:41
  Right.
• 2:41
  Yep.
• 2:42
  We are we are 1 of over 320 plus world trade centers in over 90 countries.
• 2:48
  So we really hasn't have an extensive network in a lot in a lot of opportunity, for small and
• 2:54
  medium sized businesses.
• 2:56
  Now what specific services do you all offer to small business members and even some of your
• 3:03
  corporate members?
• 3:05
  Yeah.
• 3:05
  So we we offer a variety of programs and educational pizza.
• 3:09
  So we do international trade, financing programs.
• 3:12
  We do educational workshops and seminars.
• 3:15
  We do business network events, networking events where we could connect businesses to
• 3:20
  other businesses, in terms of mentor and mentee type programs.
• 3:24
  We do international market intelligence, and other things as an import export compliance
• 3:30
  assistance as well.
• 3:32
  So, talks me about, I know that the federal government issues step grants every year to
• 3:38
  help people market their businesses outside the United States.
• 3:42
  Can you help me?
• 3:43
  Can you explain to me what step grants are and how you can access them, like, in different
• 3:48
  states across the country?
• 3:50
  Sure.
• 3:51
  So state grants, is a state by state is on a state by state base, where these grants help
• 3:57
  with travel expenses, travel experiences when you're looking for trade shows and admissions
• 4:02
  to go abroad, when you're looking to scout out different opportunities, that's on a global
• 4:08
  network.
• 4:10
  Right.
• 4:10
  So in the state of Pennsylvania, you guys actually administer the step grants for the
• 4:16
  southeastern Pennsylvania.
• 4:17
  Right?
• 4:17
  In in the Philadelphia market?
• 4:20
  Yeah.
• 4:20
  So we don't administer at the Step branch.
• 4:23
  We help facilitate and manage our companies when it comes to the step grant.
• 4:27
  We work hand in hand, with the Commonwealth of Pennsylvania, something called the regional
• 4:32
  export network.
• 4:34
  That we're contracted with the state of Pennsylvania to do, in Southeast Pennsylvania.
• 4:38
  So when it's time to go on trade missions, when it's time to go on to trade shows, we talk to
• 4:44
  our companies, and we help help them go through the process when it comes to the step grant.
• 4:49
  Okay.
• 4:50
  Okay.
• 4:50
  So now Can you, talk about the differences?
• 4:55
  Like, I know that the World Trade Center Association is sort of like the the state of
• 5:00
  Pennsylvania's International export arm.
• 5:03
  But can you talk a little bit about what you guys do in comparison to, like, the US
• 5:09
  commercial service or the the US commerce department because don't they don't you guys
• 5:14
  have similar services?
• 5:16
  Yeah.
• 5:17
  Absolutely.
• 5:18
  And we actually we work together on a lot of things.
• 5:21
  Our commercial service office here in Philadelphia, we work hand in hand with them
• 5:26
  with our membership, com with our member companies to make sure they're getting the full
• 5:31
  depth when it comes to, the global experience.
• 5:33
  When it comes to tapping in, to marketplaces.
• 5:36
  When it comes to that conversation with some of the over, the, international scene, we helped
• 5:43
  facilitate that.
• 5:44
  And so do the commercial services, I would say, some of the 1 of the biggest difference between
• 5:49
  the commercial services and us will probably be our network, they have a network of about a 100
• 5:55
  offices in about 70 countries where we have, again, over 320 plus world trade centers in 92
• 6:02
  countries.
• 6:02
  Oh, but also we deal more than just, import export and trade for the World Trade Center, we
• 6:09
  have really 3 arms of what we do.
• 6:12
  We hit we're dealing, obviously, import export trade We deal in local regional local and
• 6:17
  regional economic development, and we also deal in real estate.
• 6:21
  So Philadelphia's world trade center.
• 6:23
  We don't necessarily deal in a real estate part yet, but there are other world trade centers
• 6:29
  around the world where they deal in a real estate, for instance, the World Trade Center
• 6:34
  Bengaluru, which I visited back in early March, They have a 85000000 Square Foot campus that
• 6:41
  includes the World Trade Center Office Building, a hotel, a hospital, a mall, and it
• 6:48
  includes living quarters for the people, living, the people that's working inside of the
• 6:52
  World Trade Center building if they so choose to stay on that campus.
• 6:57
  Wow.
• 6:57
  That is that is a lot.
• 6:58
  So so that there's lots of different things you can access.
• 7:02
  Now let's talk about actually sporting itself.
• 7:05
  What are some of the common challenges that small business owners encounter as and when
• 7:11
  they get started with exporting?
• 7:14
  Yeah.
• 7:14
  I would say some of the challenges that they that some that we've heard, recently, it's,
• 7:20
  heavily regulated markets trying to figure out which markets to tap into.
• 7:25
  Understanding the different markets in a different government and a different,
• 7:29
  regulations, with depending on which country and which region you you tend to, to want to,
• 7:36
  participate in.
• 7:37
  So it's really looking at and understanding where do you wanna go, why you wanna go there,
• 7:42
  and is that the most beneficial place to be?
• 7:47
  So can you give us an example of sort of like some of the types of services that you've
• 7:52
  helped people you know, that your organization has helped people with related to that.
• 7:57
  Like, I'm imagining you guys help people with their go to market strategy, right, in
• 8:03
  different Absolutely.
• 8:04
  Yeah.
• 8:04
  Absolutely.
• 8:05
  And it's 1 that we're we're very proud of, it's past it's called Bassett Ice Cream.
• 8:09
  It's, the oldest ice cream company in the US is based here in Philadelphia.
• 8:15
  They were looking to tap into different markets and, through some of the conversations that
• 8:20
  we've had and the connectivity that we we've given them, they were able to tap into, the
• 8:25
  China market, as of recent.
• 8:27
  And even started with, a flavored ice cream cream called green tea.
• 8:33
  Now understanding with that flavored ice cream green tea, it was so popular in China that they
• 8:38
  decided to right here in Philadelphia.
• 8:40
  And now it's becoming popular here in Philadelphia as well.
• 8:43
  So understanding that you can tap into a market be there and really ingratiate yourself and
• 8:49
  their culture, and sometimes they will come back to your own region.
• 8:53
  Right.
• 8:54
  I know 1 of the things that I've I've had people talk about is just financing deals in in
• 9:00
  foreign countries.
• 9:01
  You know, it's like I know that the federal government will loan people and foreign
• 9:06
  governments money to do business with American companies.
• 9:09
  Now now how do you guys get involved with some of that.
• 9:13
  Right.
• 9:13
  So 1 of our workshops that we do, we bring in, the Exim Bank, to have some workshops to talk
• 9:20
  about what they do, but we also have partners, with some of our local banks.
• 9:25
  Where they'll come in or they will help them develop, specialized finance financial
• 9:31
  solutions, for their business, especially if they're looking to expanded to the, the
• 9:35
  international market.
• 9:37
  So when we say that, the things that include is, like, trade finance, export loans and,
• 9:42
  like, letters of credit.
• 9:43
  So having and that's the 1 thing that we really talk about Philadelphia and sell about
• 9:48
  Philadelphia's region is that, when you think about the global network, we have every from
• 9:53
  international financial services to Multinational Banks And Multinational
• 9:57
  Corporations that understand the different markets and understand the foreign exchanges
• 10:02
  and understand the finance the finances needed at any particular given time in any particular
• 10:07
  given area.
• 10:09
  A little bit.
• 10:09
  I love it.
• 10:10
  And, lastly, what is the best business advice that you've ever been given?
• 10:16
  The best business advice that I was given.
• 10:18
  I would say it's to be like water.
• 10:20
  It's to always learn.
• 10:21
  It's to always be flexible and always understand that, you know, you may want
• 10:25
  something 1 way or you may envision something going 1 way, but understand that there's 20
• 10:29
  ways to skin a cat.
• 10:30
  I mean, that's what we tell our businesses as well, is to understand that you know, just
• 10:34
  because you wanna tap into a particular market or just because you think that a market is
• 10:38
  particularly hot right now, and that doesn't mean that that's the long term goal.
• 10:43
  We always wanna make sure that we're given the best advice that we can get, but also
• 10:48
  understanding that it's more than just increasing the capacity of these small and
• 10:52
  medium sized businesses that we, have members that that are our members.
• 10:56
  It's also about talking to the CEOs visiting their facilities, understanding what they're
• 11:02
  doing, so that we can tap into a sew.
• 11:04
  Be like water, always be flexible and always be willing to change.
• 11:08
  I love it.
• 11:09
  I love it.
• 11:09
  Thank you so much, Thomas, for being here with me.
• 11:12
  I really enjoy learning so much about your organization.
• 11:16
  And I'm really excited.
• 11:17
  I'm a new member of your organization.
• 11:19
  So I'm actually trying to take advantage of all of the good resources that you all have as well
• 11:24
  because export is definitely part of my plan for my company as well.
• 11:33
  Thanks for listening to the Small Biz chat podcast with Melinda Emerson, some scribe to
• 11:38
  this podcast wherever you listen to podcasts and join us next Wednesday for more fantastic
• 11:44
  information and interviews.
• 11:46
  You can find more sources and small business success strategies by visiting Melinda's
• 11:50
  website succeed as your own boss.com.
• 11:54
  Thanks again for listening, and we'll see you next week.