State receives new trade and export promotion grant for 2016-17

Wilmington, DE – The Small Business Administration (SBA) has granted Global Delaware, the international development initiative of Delaware’s Department of State, an FY 2016 State Trade and Export Promotion (STEP) Program award totaling $282,636 to support the state’s efforts to help Delaware companies enter and develop markets overseas. This year’s grant is the largest STEP award the state has ever received.

The SBA’s STEP Program gives states matching-fund awards to assist small businesses looking to enter and succeed in the international marketplace. The program’s objective is to increase the number of U.S. small businesses that export and to increase the value of these exports.

As with previous STEP grants, a significant portion of the grant will be used to directly reimburse small- and medium-sized companies for money spent on eligible, pre-approved export expenses such as international travel, trade show activities, international marketing materials and overseas interpreters.

“This grant award will give a helping hand to small businesses and entrepreneurs looking to expand into foreign markets,” said U.S. Sen. Tom Carper. “One way to create a nurturing environment for small businesses to grow and succeed is to assist them as they explore new markets overseas, and this grant will help them in the crucial first stages.”

“Small businesses in Delaware need to use their limited resources wisely, and for many of them, a business development trip out of the county is rarely an option—even though that trip might significantly help their international business prospects,” said U.S. Sen. Chris Coons. “STEP grants do just that; help companies travel to a foreign market and meet with potential or existing customers. I was glad that the Congress preserved funding for STEP grants, and I have seen the good work they have done for a number of Delaware small business.”

“The vast majority of consumers live outside of the U.S. With the STEP program, Delaware’s small businesses have more access to these markets, and are in a better position to compete, grow their customer base, and create jobs,” said Congressman John Carney. “I’d like to thank the SBA, and congratulate the team at Global Delaware for bringing these resources to our state. This is the type of investment that will continue to move our economy forward.”

“Delaware companies were able to successfully leverage STEP grants to grow their export strategies last year, and we hope to see even more activity this year,” said Secretary of State Jeffrey Bullock, noting that Delaware companies are anticipating over $10 million in sales as a result of last year’s export program. “What we need to see now are more companies—new companies—coming forward to take advantage of this resource to grow their businesses and contribute to job creation here in Delaware.”

The STEP award will also be used to finance export-related marketing activities, such as organizing trade missions to connect Delaware businesses with buyers and distributors abroad. Global Delaware organized trade missions to Mexico, Canada, South Korea and Germany this year. STEP grant funds are used to set up one-on-one business meetings with potential distributors and customers in the target markets, hire interpreters, and cover other costs associated with the missions, such as translating marketing presentations and paying for in-country transportation.

Delaware companies can learn more about attending a mission or applying for an export grant at global.delaware.gov/expand or by emailing global@delaware.gov

The deadline for Delaware businesses to spend their grant award is September 30, 2016.

State Trade and Export Promotion (STEP) grants are still available to small- and medium-sized companies looking to enter and develop markets overseas. The grant money is part of $276,741 awarded last year by the Small Business Administration (SBA) to help increase export sales and ultimately create jobs for more Delawareans.

The SBA’s STEP Program makes matching-fund awards to states to assist small businesses enter and succeed in the international marketplace. STEP grants are used to directly reimburse Delaware companies for up to 50 percent of all pre-approved, eligible export marketing expenses, up to a maximum of $5,000 per fiscal year per company. Eligible activities include international travel, trade show activities, international marketing materials and overseas interpreters.

The deadline for Delaware businesses to spend their grant award is September 30, 2016.

“We’ve had many companies take advantage of STEP funding to finance their international activities, from attending trade shows in Europe to working with Global Delaware’s trade representatives to traveling around the world to meet with prospective clients. The grants have helped Delaware-based businesses generate millions in export sales.” says Beth Pomper, International Trade Advisor for Global Delaware, which administers the grants. “We are urging other companies to do the same. High participation helps to strengthen the local business community and also ensures that we receive additional funding next year from the SBA.”

Local businessman Julio da Ponte has used STEP grants to finance trips to China and Singapore to meet with customers. “When trying to grow business, developing and cultivating personal relationships is really key, and we can’t do that without travelling,” the VP of Industrial Valves & Fittings says. “The travel can get quite expensive, and the STEP grant is one of the ways that we’ve been able to make it happen.”

“Delaware companies must look abroad if they are to successfully grow their operations, and we can provide the support and resources needed to make that happen,” notes Andrea Tinianow, director of Global Delaware. “The application process is straightforward, the funding is available, and we are ready to help.”

Companies interested in applying for a STEP grant should contact global@delaware.gov to fill out an application. More information is available online at de.gov/funding.

Delaware will lead a trade mission to Seoul in June to connect Delaware business owners with customers and partners

Delaware businesses will meet with prospective buyers, agents and customers this June on a trade mission to South Korea. The trip is just one of many efforts the state is making to help local businesses compete in the international marketplace.

South Korea is the United States’ seventh-largest export market, with U.S. exports to South Korea totaling $44.5 billion in 2014. A comprehensive study conducted by Global Delaware, the state’s international marketing arm, indicates that it is one of four international markets that holds the most promise for Delaware companies overseas.

“The Korea-U.S. Free Trade Agreement is the United States’ largest free-trade agreement since NAFTA,” notes Global Delaware export advisor Beth Pomper. “With 80 percent of U.S. industrial goods exported to the country tariff-free, there is real opportunity in South Korea for Delaware goods and services.”

Throughout the trade mission, Delaware-based business professionals will attend one-on-one meetings with distributors, agents and customers who have been hand-selected by Delaware’s in-country trade expert Ken Yang. Yang will also host a prep session and an in-country briefing for mission attendees prior to the meetings. Transportation and translation services will also be provided.

The services provided by the State to businesses participating in the South Korea mission are valued at $6,500 per company, although the cost charged to companies is only $500, plus travel expenses. The State is willing to absorb much of the cost of trade missions because there is real potential for success, explains Pomper. “The work done on the trade missions leads to export and other forms of international business activity which in turn generates economic growth and creates jobs in the State.” Moreover, a portion of travel expenses may be eligible for reimbursement through a Market Access Grant, Pomper says.

“The trade mission to South Korea is just one example of the initiatives the State is coordinating to help businesses, especially small and medium size ones reach new global markets,” says Andrea Tinianow, director of Global Delaware. “Events like this one underscore the State’s commitment to Delaware businesses seeking to compete in the global economy.”

“Many, many Delaware businesses have the ability and the capacity to export. They just need a little nudge and a little help to get started. That’s what we are here for. We hope that any entrepreneur who feels ready to explore an export strategy will reach out and learn more about this trade mission – and others,” Tinianow says. “We have developed a full suite of strategic tools to support our Delaware business’ international expansion. We are here and ready to help.”

The trade mission is slated for June 13 – 17, and space is still available. Companies interested in joining the mission should contact Beth Pomper or David Máthé at Global Delaware by calling 302-577-8467, Beth.Pomper@delaware.gov; David.Mathe@delaware.gov.

4.12.16 – South Korea Trade Mission

Global Delaware Helps Local Companies Compete on an International Stage
Delaware companies that share their export goals can win lunch with Governor Markell.

Delaware companies grow and succeed when they compete in the global marketplace. Governor Markell couldn’t agree more. And, to show his support, he’s offered to have lunch with a current or future exporter!
Over the last year, Global Delaware revamped the State’s export program to help even more Delaware companies find and grow markets overseas, and secured a Federal STEP grant to provide financial support for companies seeking to export.

Now, Global Delaware is looking ahead to next year to tap additional federal funding to support local export efforts. To do this, Global Delaware needs input from the local business community, and is offering a chance to win lunch with Governor Markell as thanks for participating.

“We have resources and financial assistance waiting for companies that want to take their business abroad,” explained Global Delaware Director Andrea Tinianow. “Our local businesses can help by telling us which countries hold the most export potential for their products and services. We’ll use that information to seek additional funding and grow our calendar of events and activities.”

Delaware businesses that share information about their export interests will be entered to win lunch with Governor Markell. Tinianow noted that international commerce has been a priority of Gov. Markell’s administration. “Participation in the global marketplace is critical to drive more jobs and increased revenue in the State, and the Governor fully supports Global Delaware’s export program.

Company responses will be used to plan new events and activities, as well as provide vital information for the State’s application for additional STEP grants, Tinianow explained.

A link to the survey can be found here.

See the attachment below for more information.

Global expansion survey press release 3.8.16

Global Delaware is bringing in its team of international trade representatives to meet with local companies and explore opportunities for expanding their business abroad.

Reps from Canada, Germany, Mexico and South Korea will present an overview of export opportunities in their respective countries and be available for one-on-one meetings on Wednesday, November 4, at the New Castle County Chamber of Commerce, and on Thursday, November 5, at the Small Business Development Center in Georgetown.

“These are seasoned veterans with exhaustive knowledge of their markets and how to launch a successful export program,” said Global Delaware Export Advisor Beth Pomper. “Having them here all together gives local businesses a unique chance to consider their options in different parts of the world. They’ll hear about which products and services are in greatest demand from place to place, and what they can do to kick-start their export programs.”

Delaware’s trade reps work in-country to perform market research and analysis, develop product strategies for market entry, identify potential customers, provide in-country logistical, translational and related support services, and even negotiate with distributors on behalf of Delaware companies.

The reps know the certification processes, regulations, business and labor laws in their home countries, Pomper notes, and can provide Delaware companies with the tools and resources to successfully sell their goods and services in the global marketplace.

“These are high-level consultants, and we have brought them to Delaware to meet with our local businesses,” Pomper emphasized. “This is a great opportunity for local businesses to really talk about what they want to do abroad.”

Four countries, countless opportunities

Global Delaware has focused its efforts on markets in Canada, Germany, Mexico and South Korea after conducting exhaustive research to determine which markets offered the best opportunities for Delaware companies. “U.S. products and services are in high demand in these markets, especially in areas like agriculture and bioscience. It makes good sense for the State to invest effort and resources where we are most likely to get the biggest return,” Andrea Tinianow, director of Global Delaware notes.

The reps visiting Delaware are:

Ludovic Ortuno, Canada
Based in the Montreal, Canada region, Ludovic has more than ten years’ experience working with premier international trade and development agencies. He is particularly knowledgeable about launching new products in Canada and other markets. He is fluent in English, French and Spanish.

Stefan Peikert, Germany
Stefan has more than twenty years’ experience as an active independent consultant in the fields of strategic business development, internationalization, sales and marketing.

Miguel de Regil, Mexico
With more than four decades of international trade experience, Miguel brings extensive knowledge of consumer and industrial markets throughout Latin America. His extensive network makes him the ideal resource to identify opportunities and provide support in the region.

Ken Yang, South Korea
As a trade expert with extensive knowledge in business development, Ken provides market research, marketing and investment advisory services for private and public businesses.

State efforts to help companies seek opportunities abroad

Connecting Delaware businesses with foreign trade representatives is part of Global Delaware’s Strategic Export Plan to increase business opportunities and jobs for local companies. Representatives have extensive contacts with in-country industry associations and government agencies, chambers of commerce and public and private organizations, as well as specialized expertise in assisting U.S. companies establish distributor and customer networks in their country markets.

In addition to developing a network of trade reps, Global Delaware continues to organize trade missions to key markets for qualifying businesses and providing access to an exhaustive database of international distributors. The State recently received grant money to help companies finance export activity.

“Our job is to provide Delaware’s businesses with the tools and resources they need to join the global economy.” Tinianow said. “The opportunities are there, and we’re committed to doing everything we can to help our local companies seize them.”

Information sessions with Delaware Trade Reps will be held from 9 am to 12 pm on Wednesday, November 4, at the New Castle County Chamber of Commerce, 12 Penns Way, New Castle DE, and from 10 am to 12 pm on Thursday, November 5, at the Small Business Development Center, 103 W. Pine Street, Georgetown, DE. Businesses unable to make either of these events are encouraged to please contact Emma Cowdery at global@delaware.gov to arrange an alternative meeting time.

To register for this event and sign up for one-on-one meetings, click this link and fill out the short form. Global Delaware and The Delaware Department of State would like to thank Fulton Bank for sponsoring this event.