The Business of Exporting
In May 2015, nine Hawaii companies (see list below) completed the first-ever BUSINESS OF EXPORTING (BOEx) program, sponsored by DBEDT and presented by Hawaii Pacific Export Council (HPEC). The program consisted of seminars, mentoring and special projects spanning an eight-month period. Built on the core principle that before a company embarks on exporting, it must first be a successful, well-managed and profitable company in Hawaii, the program curriculum addressed five topics each presented in separate one-day seminars:
- Is Your Company a Profit Center? — a look at how well a company is managed for operations and profitability prior to embarking on exporting (October 2014).
- Managing Regulatory Costs: Ours and Theirs — a survey on the cost of regulatory compliance and how this cost impact’s a company’s profit (November 2014).
- Managing Export Industry Costs: Where Are The Advantages? — an analysis of how export industry costs such as shipping and overseas distributors can impact profit growth (January 2015).
- Global Trade Trends: Where Are The Potential Profit Pools? — an investigation of emerging global trade trends such as rapid demographic shifts and the application of technology that are changing overseas markets for Hawaii products (March 2015).
- Planned Innovation and Company Re-engineering: Will Your Company Stay Relevant? — this study looks at the essential business survival skill of the 21st Century, innovation and company re- engineering — how Hawaii companies can use these techniques to remain market-relevant in a fast- changing global market (April 2015).
The program culminated with a Funding Fair where each company had six 25-minute one-on-one sessions with different funding sources to present their funding prospectus, discuss the prospects for funding their company, and receive feedback and advice from each source. The final event was a recognition ceremony where each company received the Diamond Jade Award for successful completion of the program.
BOEx was structured to create qualitative results and behavioral change during its eight-month run. The expectation is that it will take at least six months of post-BOEx behavioral change to begin generating quantitative metrics. A more quantitative based follow-up survey of the participating companies will be conducted in early 2016. These results will help determine the future of the BOEx program.
The first group of Hawaii companies selected:
|Beyond Organics||Oahu||Dorothy Nokaido||Health – medical lotions|
|Bubble Shack Hawaiian Soaps||Oahu||Ashley Harding||Hawaiian candles / soaps|
|Global Bio Sciences||Oahu||Gilmore Ching||Toxic soil and water remediation|
|Haute Confectionery Boutique||Oahu||Elizabeth Watanabe||Chocolate chip macadamia nut cookies|
|Hokulani Bakery||Oahu||Tushar Dubey||Brownies , tea cakes|
|JUSTInfusions||Maui||Alex de Roode||Organic teas and herbs|
|Out of the Blue||Maui||Roy Wemyss||Hawaiian soaps and body oils|
|Papalua Island||Kauai||Shane Wise||Tropical biscotti, other vegan products|
|Sky Dreams||Oahu||Angela Higa||Travel accessories|