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Stepping into a Global Economy
Pactrans Air & Sea, Inc. (Pactrans) participation in STEP China Logistics Trade Mission of June 2012 was a resounding success. The trade mission not only allowed Pactrans to expand its global business network, but it also allowed it to increase its visibility in the logistics and transportation community.
As part of Illinois Logistics and Transportation business group, Pactrans had the opportunity to meet new business partners, clients, vendors and other transportation and logistics agents from all over the world. In addition, Pactrans signed new cooperation agreements and were involved in strategic business planning with new partners.
During the trade mission, Pactrans met with manufacturers and various international trade companies. By taking the opportunity to learn more about their products, services, and their needs, Pactrans armed itself with pertinent information which made it easier to network more effectively with local manufactures/clients that could resolve those issues state side by exporting goods and services to Asia. By holding discussions with its U.S. Clients, Pactrans has shown its customers how they can effectively market their products and services so they could become an important part of the global supply chain.
During the Trade Mission, Pactrans set up 95 matchmaking/ business appointments, obtained 450 sales leads, completed two joint ventures, and racked up over $1,000,000 in sales during the event.
As a result of participating in the Trade Mission, Pactrans has seen some very positive tangible results such as increase in business activity with some of its new partners and agents despite a very slow but improving economy. At this time, the company anticipates its gross revenue to increase by approximately $2 million over the next 12 months. With higher long-term sales estimates and revenues, Pactrans anticipates hiring another 5-6 jobs to an existing staff of 45.
“Overall, the STEP Trade Mission was very well organized and productive event for the participants,” stated Ms. Pon. She added, “It provided us with a valuable opportunity to meet vast number of manufacturers, companies, and potential clients in a very short amount of time.”
It would appear that the contacts Pactrans made during the trade mission, and the business ideas it discussed with potential clients, has made this company a bona-fide candidate to STEP into a Global Economy. Without the SBA STEP grants, none of this could have been possible.