New Missouri program to help companies increase exports

Some 95 percent of the world’s consumers live outside American borders. To help Missouri’s small businesses – primarily manufacturers – tap into that market, the Missouri Department of Economic Development (DED) Division of Business and Community Services developed the Global Market Access Program (G-MAP).

G-MAP is a cost-sharing program that helps small businesses to participate in international trade activities, trade missions and foreign market sales trips so they can get their products in front of a global audience. Some of the marketing activities that qualify for funding include trade show exhibitions, foreign trade missions and sales trips, subscription services, language translation fees and market media.

“We’ll provide the help so they can connect with the right buyers. The cost-sharing funding limit through G-MAP per Missouri business is $12,000 per year. The companies may apply for a max of $5,000 per trade show; $3,000 per trade mission – all with a company match,” explained Amy Susan, communications director for the DED. “Many of our small business owners already know how to market themselves – they just need help getting to the right location that will allow them to do that.”

Several trade events are set for 2014 including the January 14 to 17 IBP Shooting Hunting Outdoor Trade Show in Las Vegas, Nevada – touted as the “largest and most comprehensive trade show for all professionals involved with shooting sports, hunting and law enforcement industries; the April 8 to 11 Food Hotel Asia in Singapore featuring the food and hospitality industry; the August 26 to 28 IBP Farm Progress Show featuring agribusiness; and the September 27 to October 1 IBP WEFTEC Show in New Orleans, which focuses on water quality.

For a complete list of trade shows, visit http://www.exportmissouri.mo.gov/exports/trade-events.

However, the deadline to submit applications for trade activities in 2014 is December 31, 2013. Notice of awards will be made in early January. The program is administered by the Missouri Department of Economic Development’s (DED).

G-MAP is open to Missouri companies that meet the following requirements:

•Businesses must have been operating for at least three years

•They must employ 500 workers or fewer 

•They must gross less than$25 million in annual sales 

•They must currently export to at least one market and at least 51 percent of the value of the exported product must be derived in Missouri 

•They must have a strategic plan for exporting

Complete guidelines and an application for the Global Market Access Program are available at www.ExportMissouri.mo.gov.

Susan said businesses that are interested in exploring their options for exporting but that don’t meet that set of criteria might be eligible to receive assistance in other ways.

“We have ‘boots on the ground’ – numerous programs and customized services in place to help them get their products in the hands of consumers around the world and we can also get them in touch with financing services,” she said.

To contact one of the international trade specialists, call 573-751-4855 or e-mailexports@ded.mo.gov.

Who exports?

Mike Downing, acting director of the Missouri Department of Economic Development, said that more than 5,000 Missouri businesses, of all sizes and in all parts of the state, already export and find it to be a great way to increase sales.

Missouri’s exports totaled $13.9 billion in 2012, according to the U.S. Census Bureau Foreign Trade Division and WISERTrade. Quarterly averages exceeded $3.1 billion and were led by first and second quarter activity. Twelve export categories increased exports by over $15 million, including three categories which increased by over $100 million. The top two categories for net increases in exports were Agricultural Products, with a $171.4 million increase, and Food and Kindred Products, with a $162.0 million increase. The fastest growing export categories include Fresh or Frozen Fish and other Seafood (239 percent) and Oil and Gas (209 percent).

Susan said the list of exporters from Miller, Morgan, and Camden counties includes forestry companies, a pet products exporter and a wood products company, among others.

In August, Osage Catfisheries, owned by the Kahrs family and located in Osage Beach, was named Missouri’s 2012 Agricultural Exporter of the Year. Founded in 1953 as a bait shop for local fishermen, the farm now supplies 32 species of fresh water fish to recreational and commercial aquariums, zoos, research markets and state and federal agencies.

According to the Missouri Economic Research and Information Center, half of all Missouri’s export income came from the top three recipients. Canada purchased $4.1 billion in goods, followed by Mexico ($1.8 billion), and China ($1.1 billion). In the past 10 years Missouri exports increased from $7.24 to $13.91 billion, which is just over 92 percent growth.

The Lake of the Ozarks Business Journal provided this news story to LakeExpo.com for republication. For a hard copy, pick up The Lake of the Ozarks Business Journal at newsstands across the Lake area. The Lake of the Ozarks Business Journal is a respected monthly news magazine providing accurate, relevant news and information to area readers.

New Missouri program to help companies increase exports