International Trade

Expand Your Reach: International Trade for USVI Small Businesses

With 95% of the world’s consumers living outside the U.S. and its territories, international trade can open up significant new markets for your business. The VI SBDC is here to help you understand the unique advantages and challenges of exporting from the U.S. Virgin Islands.

Understanding the USVI’s Unique Trade Status

The U.S. Virgin Islands is a U.S. territory, but it operates under its own customs regime. This provides a distinct advantage for local manufacturers: goods made in the USVI can often be shipped to the U.S. mainland free of tariffs, allowing them to be labeled “Made in the USA” and giving them a competitive edge.

However, trading with other countries requires careful planning. Our advisors can help you understand:

• Export Documentation: Required paperwork like commercial invoices, certificates of origin, and Harmonized Tariff Schedule (HTS) codes.

• Customs and Tariffs: The specific duties and regulations for your products in different international markets.

• Logistics: The complexities of international shipping and freight.

• Key Programs and Resources

The VI SBDC connects you with valuable programs designed to help small businesses like yours succeed in international markets.

• State Trade Expansion Program (STEP): Administered by the Virgin Islands Economic Development Authority (VIEDA), this U.S. Small Business Administration (SBA) grant helps small businesses enter and expand into new foreign markets. Funds can be used for things like participating in trade missions, attending trade shows, and international marketing.

• Export Credit Insurance: Offered by organizations like the Export-Import Bank of the U.S. (EXIM), this insurance protects you against the risk of nonpayment from foreign buyers, giving you the confidence to offer more competitive payment terms.

Start Your Export Journey with the VI SBDC

We can help you determine if your business is “export-ready” and develop a strategic plan to enter the global marketplace. Our no-cost, confidential advising services include:

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One-on-One Advising for International Trade

Our no-cost, confidential advising services are tailored to help you navigate the entire export process, from initial strategy to execution. When you work with a VI SBDC advisor, you can receive in-depth assistance with: