between Russia and Ukraine continues , the energy needs of Europe remain , despite the European Union ’ s embargo on Russian coal .
As of quarter three in 2022 , West Virginia ’ s coal exports increased by 55 % over the previous year . Notably , in 2021 , the Netherlands was West Virginia ’ s fifth largest coal export market . In the third quarter of 2022 , it was third , with an increase of more than 500 %. Japan also banned Russian coal imports , and West Virginia ’ s coal exports to Japan increased 109 % by the third quarter in 2022 . Overall , coal exports across all U . S . states were up 111 % in 2022 .
Following the catastrophic events of the COVID-19 pandemic , West Virginia exporters — and the world — have had to adapt to an ever-changing business landscape . A quick adoption of virtual meeting technology allowed many to continue communicating with customers and assuage concerns . Companies also brought more manufacturing inhouse , when applicable , to avoid long wait times for parts and critical components . A general acceptance of longer wait times has also permeated the international business community . In specific industries , like building products , the increase in demand during the pandemic remained unchanged moving into 2022 . As 2022 concluded , third quarter statistics showed a 6 % increase in West Virginia ’ s non-coal exports from the same period in 2021 .
So how can West Virginia exporters unfamiliar with the ever-changing political and economic climate adjust when necessary to prevent significant disruptions within their companies ? First , exports are not and should not be an afterthought in business ; exports are sales . They require planning and commitment , like a company ’ s domestic sales . Companies with the most substantial export sales are the ones that plan and strategize . Identifying new markets for entry and expansion is the first step to protecting the business from outside influences beyond the control of company leadership .
Second , companies must consider a robust export compliance plan . When strategizing where to export , ensuring compliance with federal laws and identifying the steps needed to protect the business will significantly safeguard the company and mitigate losses . Finally , while prioritizing exports is important , small businesses often need more financial resources or the workforce to take full advantage of international opportunities . This is where leveraging the resources available to small businesses can create growth opportunities . Both federal and state governments work in partnership to support West Virginia companies and make global markets accessible to all companies .
Regardless of the external disruptors experienced by West Virginia exporters , one thing has remained constant : West Virginia ’ s thriving small business exporters have been proactive in addressing the problems and relentless in finding alternative solutions . Exports are vital to West Virginia ’ s economy and should continue to be celebrated and championed as an integral part of every company ’ s business strategy . •
West Virginia ’ s Export Assistance Programs
Primarily focused on enhancing the state ’ s success in the global economy , West Virginia ’ s Export Promotion Program is committed to assisting small and midsized local companies as they navigate the global marketplace . In 2018 alone , West Virginia exported goods and services to more than 140 different countries and hopes to continue growing this number in coming years .
West Virginia export assistance is available through :
• Trade Shows and Missions
Allowing companies to explore a new market and display their products to an international audience without having to worry about the high cost of exhibiting , trade shows and missions are a customizable service and an excellent option for any company looking to set their own priorities and maximize their efforts .
• Export Counseling
Offered to companies that are exploring international markets , export counselors with years of experience provide clients with the knowledge and guidance needed to navigate a variety of common exporting challenges .
• Market Research – RAISE Initiative
Created by the U . S . Commercial Service Rural Intel Service , this initiative allows companies to create a comprehensive export plan , find the best international market for their product or service and locate active buyers in the same industry . All small and mid-sized West Virginia businesses with an interest in exporting and expanding into new markets are encouraged to apply for this opportunity .
• Export Assistance Programs First STEP and Next STEP
Consisting of four different programs designed to help small , local businesses reach international markets , STEP , which stands for State Trade Expansion Program , has awarded 350 state grants to all 50 U . S . states . The STEP program for West Virginia consists of $ 300,000 in funding available now through September 2024 .
Source : westvirginia . gov / divisions / international-development /
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