Market Entry Program

 

Do you have a product that is ready for export?  Have you thought about an international trade show?  Do you need funding assistance for international marketing and promotions?  Are you unsure of where to begin?  If so, then Nevada’s Market Entry Program is designed for you.
   
Nevada’s Market Entry Program, under a cooperative agreement with the U.S. Small Business Administration, matches marketing funds, which supports the promotion of Nevada-made products in foreign markets.  By providing participants with resources to build an international marketing plan and a 50 percent cost reimbursement for eligible marketing and promotional activities, the program enables businesses to effectively break into new export marketplaces.
   
Under the scope of this new federally funded program, Nevada’s small businesses may apply to the Office of Economic Development to participate as sub-recipients of the $165,000 SBA allocation for 2011.  Matching funds will be awarded to companies on a yearly basis depending upon their marketing experience.  The minimum funding request is $2,500, and participating companies must spend $5,000 in promotional activities to be reimbursed.  The maximum funding request is $12,500.
   
The eligibility requirements are as follows:
   
 1. Must be a duly registered U.S.-based business with a current Nevada Business License.
 2. Have been in business for not less than 1-year period ending on the date on which assistance is provided using a grant, and be operating  profitably.
 3. Must be considered a “small business” as defined by the Small Business Administration.
 4. Is ineligible to apply to other federally-funded market access programs such as USDA.
 5. Have demonstrated understanding of costs associated with exporting and doing business with foreign purchasers, including the costs of freight forwarding, customs brokers, packing and shipping, as determined by the Associate Administrator.
 6. Have a strategic plan for exporting.
   
The international promotional activities outlined below will be considered eligible for reimbursement under the Nevada Market Entry Program:
   
 1. Advertising (production, placement and/or broadcasting)—Circulars, magazine ads, moving ads, newspaper ads, radio ads, television ads, importer/distributor/website ads and billboards.  
 2. Have a strategic plan for exporting.
 3. Translation Expenses—Costs to translate eligible promotional materials from English to a foreign language.
 4.  Fees for Promotional Services—Demonstrators, interpreters and translators who assist with eligible promotional activities including trade shows, in-store demonstrations and international trade seminars.  Fees must be expressed as rate per hour and reimbursement may not exceed the maximum hourly rate as determined by the U.S. government.  Employee, importer and distributor wages are ineligible.
 5. Freight—Shipment costs of samples, materials and equipment to and from a promotional activity and samples and promotional materials to international buyers.
 6. Travel to International Trade Shows—If a trade mission is pre-approved by NCED participants may qualify for 50 percent reimbursement on the expenses for two Nevada-based employees, participation fees, booth fees and freight.
 7. Modification to Labels and Packaging—Design, production and printing of one-year’s supply and any costs to attach the sticker (if outsourced).  Participants must demonstrate that the changes are necessary to meet the labeling requirements of the country.
 8. ExporTech—Reimbursement of 50 percent of the registration fee for one company employee to attend and complete ExporTech to prepare new-to-export companies to define and enter the global market.  (Program is provided by a resource partner.)
 9. Gold Key Service—Reimbursement of 50 percent of U.S. Department of Commerce’s Gold Key Service (or the fees of a federally approved contractor)—a custom-tailored service for U.S. firms planning to visit a country. Offered by many overseas posts, it combines several services, such as market orientation briefings, market research, introduction to potential affiliates or clients, an interpreter for meetings and assistance in developing a sound market strategy and an effective follow-up plan.
10. State-Directed Trade Missions—Reimbursement of 50 percent of participation fees for state-directed trade missions.

 

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