01 May How to Export from Maine
Looking to maximize your company’s profits?
Consider export. It is simpler than it may seem.
Exportation allows Maine companies to realize more of their profit potential. Sending goods overseas can increase sales in untapped markets, as well as maximize profit margins in high-demand and low-supply markets. Targeting opportune foreign markets allows Maine exports to stand out from the crowd by entering markets in which Maine products are unique and carry the Maine brand cachet. Exportation is an excellent option for Maine companies that have well-functioning supply chains and are seeking new potential markets to exploit.
A high-value first stop in the exportation process in Maine is the Maine International Trade Center (MITC). With a low-cost membership (learn more), MITC strategizes the business and legal requirements needed to reach any desired foreign market. MITC also connects Maine exporting businesses with grant funding, such as the U.S. Small Business Administration’s State Trade Expansion Program (STEP). The STEP financial assistance award provides eligible Maine companies with up to $10,500/year financial support for international business development, advanced export skills development, and foreign marketing support. MITC researches export regulations and tariffs, and ultimately provides a summary of needs, many of which are legal.
The exportation process inherently requires close attention to legal requirements, and pitfalls do exist throughout the process. Whether you use our firm or another, it is important to have effective legal counsel by your side as your business launches its next goal of – ahem – smooth sailing into unchartered waters. For what it’s worth, I have hands-on experience with entrepreneurial import/exports (my own company is Victorieux Champagne, see also Victorieux Champagne’s article in the Portland Press Herald), and seek to make the export process for you as simple and transparent as possible.
Once the legal ducks are all in a row, you’ll need to find – or we can help you find – Maine-based (and elsewhere if needed) freight forwarders, customs brokers, and insurance agents.
For freight forwarding consider: (1) Eimskip for Iceland-bound goods, (2) Albatrans, who has an office in Portland, for food and beverage, or (3) Ocean Air Inc. based out of Massachusetts, but with offices in Maine, for a broad range of items.
For customs brokerage: Michael Doyon, LCHB of Michael Doyon Co., based in Portland, Maine. (www.doyonglobal.com)
Feel free to reach out to us for questions or assistance! firstname.lastname@example.org or (207) 370-7776.