- Trade Show Grants – These programs were designed specifically for small to medium size companies looking to expand their market base outside of the U.S. They do not cover travel costs or per diems. The criteria to qualify is as follows:
- It must be a show that you have not attended in the last 3 years. Enterprise Florida would cover 75% of $7500 toward the cost of the booth. For example, your initial booth space is $7500 with no add-ons (graphics, furniture, etc.). Let’s say you include those add-ons and your new cost is now $10,000. You pay the booth fees upfront and upon return, provide an export sales report along with an invoice to Enterprise Florida. Enterprise Florida will reimburse you with a check for $7500. Again, 75% up to $7500 is this grant threshold.
- The second set of criteria for the 75%/$7500 Trade Show Grant applies to more mainstream trade show locations in Europe and South America.
- If you are a company with 100 employees or less and are going to Africa, Asia, Middle East, Australia, New Zealand or Mexico, you can receive 100% reimbursement of the $10,000 cost to exhibit in those countries. Mr. Cooney stated he may have omitted a country or two, so be sure to confirm this list with Enterprise Florida directly.
- Registration & Certification Grant – This is a new grant offered by Enterprise Florida. If you are interested in pursuing a certificate or registration required by a particular country in order to do business with them, and it is new business, Enterprise Florida will cover 50% up to $10,000 of the cost to obtain the certification/registration. You should apply before you go forward with the certification; although Enterprise Florida can likely help if you have started the process but not yet completed it. The goal is to apply prior to registration/certification final approval.
- Gold Key Program - This program is for companies looking to expand into a new international market and/or find new customers/partners. Enterprise Florida will connect you with a US Commercial Service Representative located locally then they will set you up with a US Commercial Service at the Embassy in the location you plan to visit. You would exchange emails, complete a questionnaire and send it with your criteria to meet with an ideal customer/partner. Enterprise Florida needs a 6-8 week lead time to coordinate meetings, but when you arrive you will have 3-5 prearranged, prequalified meetings. This is a reimbursable grant with an application cost of $950 – $1500. Upon your return, simply send Enterprise Florida an invoice for the grant amount to be reimbursed. This is great for companies who do not have an established network in that country. Additionally, if a company from another country is interested in doing business with you and you are not familiar with them, US Commercial Service can help you verify the validity of the business within that country, with minimal cost to you.
- Advocacy program – This is for companies looking to do business in a particular country, and you feel you are being ignored or shut out. US Commercial Service in that country will be your advocate at no additional cost for this service.
- Trade Missions – Enterprise Florida holds specific events and invites companies who wish to do business in those countries, as part of the registration fee (approximately $1400) that is included in the Gold Key Program (travel expenses are not included). There are a lot more doors open for you than you’d ever be able to get on your own. Typically the Ambassador of the Consulate will hold a reception, which makes it a great networking opportunity. Two Trade Mission events coming up are for Morocco and Vietnam.
- Export Marketing Plan – Qualifications for this program are companies with 500 or less employees, annual sales of ½ million or more and you have been in business for at least two years. Enterprise Florida does this in concert with the Small Business Development Administration (SDBA). SBDA would schedule a meeting to verify the following qualifications:
- 100% management support and a business plan that includes expanding markets.
- Available resouces to support the business plan to expand markets over time. For example, not exporting by default (someone in another country finds you on the internet, places an order with you and now you're exporting; or not an intended exporting plan).
- Verification that you can fulfill the commitment to expand your export services. A company recently reported to Enterprise Florida that their export plan/report cost them $30,000. The cost of the plan through Enterprise Florida is $5000 and Enterprise Florida covers $4500 leaving you with an out of pocket of only $500.
- Website Localization Program – Enterprise Florida has collaborated with a UK company called, IBT. IBT provides a website platform, for up to two different countries where your website language is translated in the native language of those countries. This program normally costs $12,000. Enterprise Florida covers $8000 of the $12,000 fee giving you a final cost of $4000 (or $2000 per country website) for this service.
Mr. Cooney is the Director, International Trade Development Aviation, Aerospace and Defense for Enterprise Florida. For more information on Enterprise Florida, upcoming commerce trade events and other international opportunities, please contact Michael Cooney at mcooney@enterpriseflorida.com or via telephone at 407-956-5678. You can also visit their website at https://www.enterpriseflorida.com/international.
SFAMC supports, encourages, educates, and promotes the significant base of maintenance operations in South Florida and generally meets once per month. For additional information, please visit www.sfamc.net.