20 MiMfg Magazine July 2021
Helping Michigan Businesses Reach International Markets
Starting and owning a manufacturing business is no small feat , especially after 2020 . Even an established business ready to expand into international markets may find it challenging to know where to begin . Through the Michigan Economic Development Corporation ’ s ( MEDC ) International Trade program , businesses can tap into a wealth of resources and support to expand into foreign markets and export products around the world , all while continuing to grow and prosper in Michigan .
With international trade offices covering more than 90 markets , MEDC ’ s International Trade program offers businesses support in identifying and pursuing global market opportunities . Through this program , businesses have access to experienced professionals and resources — such as financial assistance , counseling and market analysis — that can help promote their products and services around the world . As a result of this comprehensive support , Michigan businesses engaged with MEDC ’ s International Trade program have already reported more than $ 4 billion in facilitated export sales since the program began in 2012 .
From trade missions and grant funding , to a network of technical service providers including legal professionals and website enhancement , the International Trade team offers solutions for businesses of all sizes seeking to grow and expand into new markets , all right from here in Michigan .
Consider , for example , the success of Laser Marking Technologies , which provides high-quality engineered solutions for manufacturers seeking automated laser marking equipment . In 2014 , the company first reached out to the MEDC ’ s International Trade team hoping to grow its customer base outside of the U . S . — and since then , its success has been overwhelming .
By working with the International Trade team ’ s Michigan Mexico Center , Laser Marking Technologies was able to become prequalified for potential distributors in Mexico , which greatly enhanced their ability to compete in the Mexican market . The company also qualified for grant funding through the Michigan State Trade Expansion Program ( MI-STEP ), which enabled team members to participate in a series of international trade shows and develop an international social media campaign that grew the brand ’ s recognition in the Australian market .
“ Working with the MEDC has been extremely easy , as they have provided needed guidance every step of the way . Transitioning into new foreign markets often reveals unexpected challenges with unfamiliar processes along with potential language barriers . Having the MEDC available as a resource for council and guidance ,
Get More ! Tune into a five-part virtual lunch & learn series with sessions every two weeks this summer to learn more about MEDC ’ s International Trade team and support services for which your company may qualify .
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the process was far less daunting ,” said Rick Weisbarth , President of Sales and Industrial Development .
Through the MI-STEP Program , eligible small businesses can receive up to 75 percent reimbursement for export activities , up to $ 15,000 annually . This includes activities involving international travel as well as non-travel activities , such as international marketing , compliance testing , website upgrades or design , sample product shipping , export trainings such as ExporTech and U . S . Commercial Services offerings .
Today , Laser Marking Technologies exports its products around the world , including sales to Canada , Mexico , China , Australia , Brazil , Nicaragua and the Netherlands , with its annual export sales reaching $ 550,000 and its cumulative MEDC-facilitated sales marking $ 1.86 million .
Since 2012 , the International Trade program has helped small and medium-sized businesses like Laser Marking Technologies diversify their customer base , stabilize sales and ultimately grow their business through exporting from Michigan . To highlight this success , MMA is partnering with MEDC to help manufacturers go global with the International Trade Program by hosting a virtual lunch and learn webinar series every two weeks beginning June 29 .
For more information about the International Trade Program and whether your business can qualify for funding and support , visit michiganbusiness . org / export or contact an International Trade Manager . 6