New York State companies that export what they make do more than increase total sales. They diversify their customer base for more balanced growth. As members of the global economy, these companies also tend to become more innovative and flexible. Often, NYS exporters become the employers of choice in their geographic areas. That’s especially good news for manufacturers, who sometimes struggle to find and attract talent.
Is your NYS business thinking about exporting? If you’re already sending some of what you make overseas, would you like to expand that part of your operation? Many small-to-medium companies want to reach global markets, but they need to manage their risks. As the result of President Barack Obama’s National Export Initiative (NEXT) and Governor Andrew M. Cuomo’s Global NY initiative, the federal and state governments are willing to share this risk with you.
How GlobalNY Supports Exports
In New York State, GlobalNY can connect your company to the State Trade and Export Promotion (STEP) program. The STEP Program is offered by the U.S. Small Business Administration (SBA) through Empire State Development (ESD), New York State’s chief economic development agency. STEP supports a variety of activities, including:
- Participation in foreign tradeshows and missions
- Sales trips to foreign markets
- Translation services for websites and marketing materials
- Participation in qualifying trade-education workshops
- Foreign partner search services provided by the U.S. Department of Commerce
For example, NYS participants in the STEP program can showcase their products in a sector-specific USA Pavilion at Hanover Messe 2016, the world’s leading trade fair for industrial technology. From April 25 to 29, 2016, many of the world’s leading manufacturing companies will assemble in Hannover, Germany for an event that will unite 6,500 exhibitors and 250,000 visitors.
Get Started with STEP
To be eligible for STEP funding, your NYS business must have 500 or fewer employees, have been profitable for the past year, have a product to export, and meet the standards and mission of the STEP program. Special consideration will be given to MWBE firms, and to businesses classified as NYS strategic industries.
Awards are given on a first-come, first-served basis, so the time to apply is now. Businesses that successfully complete all of the requirements are then eligible to apply for a second STEP award. All events and activities must be complete by September 29, 2016.
To learn more about STEP, visit global.ny.gov, email [email protected], or call (212) 803-2300 today.
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