Meet the man helping smaller businesses reach a global audience
Trade executive to direct Bryant University business center
From the ever-moving parts of the supply chain, the war in Europe, and the general cost of doing business, expanding a company's footprint overseas can be complex. But at Bryant University, a new leader has taken the helm to help Rhode Island's businesses navigate these murky waters.
Global business development executive Andrew Gelfuso was recently appointed as Bryant's director of the John H. Chafee Center for International Business.
Gelfuso graduated with his master's degree in business administration from Johnson and Wales University. He previously worked as the vice president of the Trade Center Management Associates and director of the World Trade Center in Washington, D.C., at the Ronald Reagan Building and International Trade Center for the last 16 years.
What is the Chafee Center?
Our mission is to foster world trade through collaboration with Bryant University's academic programs, partnerships with state and federal trade offices, and outreach to the business community.
What are Rhode Island’s biggest exports?
Waste and scrap, chemicals, metal and other manufactured products, such as jewelry and tools, and computer and electronic products such as environmental room monitoring systems, sonar devices, infrared cameras, and diagnostic instruction and medical devices.
How are Rhode Island businesses holding up compared with other states when it comes to exporting goods?
Rhode Island has shown a steady increase in exports during the last decade. In 2021, Rhode Island exported [nearly] $3 billion in goods to the world, a 20 percent increase from 2020, and a 9.3 percent increase from 2019, before the pandemic. From 2010 to 2021, Rhode Island's exports increased 51 percent, compared to a decrease of 9 percent for Connecticut and an increase of 23 percent for Massachusetts and 16 percent for the nation. Rhode Island shares some categories of export products with our neighboring states, such as chemicals, our second main export, is also one of the top five exports of Connecticut, Massachusetts, and New Hampshire.
Is there room for expansion?
There is a lot of potential for expansion. Rhode Island is strategically located in the Northeast, with easy access to metropolitan areas, nearby airports and shipping terminals that serve international markets, and a talented workforce. We are planning to capitalize on these resources to increase exports of goods and services that support blue economy (economic activities related to the ocean and coastal areas), advanced manufacturing, and environmental technologies.
Explain your responsibilities as director.
On a day-to-day basis, I'll be getting to know my way around Rhode Island and look to match businesses with state and federal programs that can aid their international expansion efforts. I'll be responsible for ongoing evaluation and development of the state's international trade policies in conjunction with Rhode Island Commerce Corp.
What challenges are international expansion and global public/private trade deals facing?
Some are fluctuating exchange rates, local laws which differ from our own, political instability, intellectual property protection, finding and vetting the right local partners, and language and cultural differences. For every challenge in entering a foreign market, there is also an opportunity. There are plenty of experts and resources available through state and federal programs designed to assist small to mid-sized companies.
Companies could easily spend thousands traveling to and setting up at trade shows. But the pandemic showed that smaller businesses could enter the foreign trade market without the added expense. Is that here to stay?
Technology continues to evolve and expand, and it has opened new doors for US small and mid-sized businesses. With that said, I believe that there is no substitute for trade shows. There are just so many buyers, industry representatives, and competitors at a trade show, and so much can be gained by attending in terms of industry knowledge, making contacts, and building relationships.
After COVID, the trade show industry has made a strong comeback, and I expect that will continue. Domestic trade shows can be a good first step for a business that is new to exporting or for companies that don't have a large travel budget to work with.