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This article was prepared for the
September 12, 2001 edition of U.S. 1 Newspaper. All rights
International Trade Tip: Remember the Financing
Car companies are getting aggressive about financing.
It is nigh unto impossible to tune into a radio station — any
radio station — without hearing about 0.9 percent car loans.
sun roofs and engines capable of going from zero to 60 miles per hour
in six seconds. Even the isolationist space of a passenger compartment
so high off the ground that a step ladder would be a useful accessory
is no longer prominent in the pitch. It’s all about financing.
County Community College, says exporters would do well to take a page
from the car companies. "A U.S. company says `We have a real good
product and excellent service,’" Hansen says. But that company
doesn’t realize that business customers, just like consumers, may
be more interested in a good finance terms. This is especially true
in the international arena where, Hansen says, U.S. companies need
to realize they are up against competitors from countries like Germany
where the government helps out with financing.
U.S. companies have all the tools they need to be effective
overseas, but Hansen says many, especially among the smaller
are not using all of them. The Center for Global Business has put
together a panel to provide essential information on acquiring and
using those tools at its fall kick off International Business over
Breakfast meeting. Held on Thursday, September 13, at 8 a.m. at the
college’s West Windsor campus, the panel’s topic is International
Finance. Cost: $25. Call 609-586-4800.
Administration, who speaks on "How to Finance Working Capital,
Equipment, and Promotional Activities,"
development officer of Ex-Im Bank of the U.S., who speaks on
International Sales with Minimum Risk;"
vice president of PNC Bank, who speaks on "The Role of the Bank
in International Trade;" and
Allied Asset Group, who speaks on "How to Ship to 140 Countries
— Worry Free."
Hansen says the center chose finance for its first topic of the season
because a need for money is something all businesses share. "It’s
what it takes to succeed," he says.
A native of Denmark, Hansen earned a masters degree in chemical
from the University of Copenhagen and an MBA from Harvard. He worked
for Colgate-Palmolive early in his career, and then was recruited
by Dansk Design, where he was in charge of product development before
taking over as CEO. As Hansen was pondering retirement options, he
decided to teach courses in international business at MCCC. When that
college received a grant from the U.S. Department of Education for
a Global Business Center, Hansen was named director.
The Center exists to increase exports from New Jersey businesses.
The large corporations do not need help in getting their wares
so Hansen says the Center concentrates on giving small and mid-sized
businesses the savvy they need to compete effectively.
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