Free Money! How to Access Free Money & Support to Expand Exports

Sep 30, 2022

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On today's episode, Kim Kirkendall sits down with Nate Ward, Trade Advisor for the State of Ohio’s Small Business Development Center (SBDC) Export Assistance Network and Director of the Global Business Center at Monte Ahuja College at Cleveland State University. He’s here today to talk about free or low cost programs, opportunities, and advisory services businesses can take advantage of.

First, Nate lays the landscape for international trade and how countries incentivize domestic manufacturing and exports.Including in the US, where there are many free resources to help facilitate that trade, including grants, subsidies, and guidance among other things.

Nate breaks down what’s offered and some ways businesses can tap into these resources:

A major challenge for many businesses is that they don’t know what they don’t know–and there are many complexities that can seem overwhelming. Nate explains how he and other advisors across the country can provide clarity and understanding to your team. In addition, the advisors can connect businesses pursuing opportunities across the globe with boots on the ground in the country you’re doing business in. Remember, all of this is taxpayer funded and at no cost to you.

Beyond that, there are federal grants and reimbursement programs that businesses can utilize. In Ohio, there is the IMAGE Grant, which Nate outlines, and it is similar to grants found in other states.

These grants are meant to subsidize the cost for international business, including participating in foreign trade shows, traveling to meet with potential clients, marketing development, website creation, regulatory certifications, and other related costs.

These programs can even cover costs for companies already exporting to change distributors or registering for foreign regulatory bodies (CE or FDA) in another country.

These grants are for Small to Medium businesses, which is larger than you may think. It ranges from 1 to 500 employees, sometimes even more. It isn’t just for start-ups–these items can be utilized by growing companies who are looking to tap into a previously unseen market.

Things You’ll Learn

In the US, there are many free resources to help facilitate that trade, including grants, subsidies, and guidance among other things.
The value of international trade advisors.
Monetary resources available for businesses of small and medium size - and the definition of "small and medium size."
How these programs can cover costs for companies already exporting, including expenses related to changing distributors or registering for foreign regulatory bodies in another country.

LINKS

sba.gov