John Hartnett Discusses International Trade and Small Business Success

By: Florida Chamber of Commerce

“Success does not come overnight with international trade. The challenges lie in understanding the cultural differences and maintaining realistic expectations of growth trends.”

 

–  JOHN HARTNETT

Vice President of Global Business Development, Endoscopy Replacement Parts, Inc.
Florida Chamber Foundation Trustee

 

Endoscopy Replacement Parts, Inc. was recently named the Small Business Administration’s 2016 National Exporter of the Year Award and received the President’s “E” Award for U.S. Exporters.

On the Florida Chamber’s recent Series on Free Enterprise, John Hartnett, Vice President of Global Business Development at Endoscopy Replacement Parts, Inc. discusses the recent awards and what Florida businesses can do to become globally competitive.

“International trade is not easy, but it’s not overly complex either,” said Hartnett. “95 percent of consumers are overseas so there is a huge opportunity to grow business. The most important part of considering international expansion is to consider if the product is already doing well domestically, is management fully on board and willing to be patient with the international markets and are finances available to fund the expansion….Florida is privileged to have the resources of Enterprise Florida, Florida SBDC Network and U.S. Commercial Services.”

Florida’s manufacturing sector is a key driver in international trade, with the Florida Chamber Foundation’s Trade & Logistics 2.0 report showing 92 percent of Florida-origin exports are manufactured goods. Additionally, for every 10 jobs created in trade, there are 30 jobs supported by Florida export manufacturing and another 20 jobs supported in business services, transportation, etc.

“Opportunities for growth internationally in the manufacturing sector are astounding. This growth creates many high-wage, high-skilled jobs for Floridians and diversifies your client base throughout the world, making companies much more recession-proof….We have plentiful products, services, technology, brain power and agriculture that the world would want and need and we should be considering ourselves a global hub with unlimited growth potential.”

As a Florida Chamber Foundation Trustee, Hartnett is part of an elite group of thought leaders dedicated to finding solutions and challenges facing Florida’s future. When asked about the trends and disruptions that might occur by the year 2030, Hartnett provided the following response.

“Florida is expected to grow by over 6 million residents in the next 15 years and we must create approximately 2.1 million new jobs in that time frame to maintain the current levels of employment. Florida has never experienced a growth at this pace and it could have major implications on how we utilize our taxes, the poverty level and overall usage of our resources. However, we have an opportunity to absorb this momentous growth by focusing on smart job creation initiatives, such as targeting the sectors of international trade and logistics and creating ancillary job growth from increased global demand.”

For Hartnett, free enterprise means naturally allowing the market to determine the economic, financial and environmental concerns and structures without the rigidity of government forces.

“An organization with good management, adaptability, innovation and quality products and services allows for success in an ultra-competitive market. By having lower corporate taxes and less government involvement, Florida businesses have the resilience and fortitude to go out in the global marketplace and create incredible jobs for Floridians.”

 

Resources:

If you are a small business looking to expand into global markets or improve your workforce, please click below: