Presentations - Minority Export Training Program




	Frequently Asked Questions (FAQ's)
	*What is the Minority Export Training Program?* *What does the MET cost?* *How do firms qualify?* *Why should I participate in this program, even if it is free?* *What are the goals and objectives of the program?* *How do I get trained?* *What is the Minority Export Training Program?* The Minority Export Training Program (MET) is an economic development initiative of the US Dept. of Agriculture’s Foreign Agriculture Service. The goal is to promote export sales of US origin agricultural products, particularly those sold by small minority or woman-owned enterprises. *What does the MET cost?* The training is provided free-of-charge to qualified firms. *How do firms qualify?* Firms must apply to participate in the MET. Qualified firms are those which: (1) deal in US origin agricultural products (51% US content) (2) are small businesses as defined by the US SBA, (3) have $1,000,000 in gross sales in at least one of the previous three years (although firms with less revenue have been accepted!) With these characteristics firms complete an application (or the Program Staff can help you complete it!) The completed application is then reviewed by a group of agri-business experts, including representatives from the US Foreign Agricultural Service and the Southern US Trade Association. After the review, firms meeting the qualification criteria are invited to join the MET training seminars. *Why should I participate in this program, even if it is free?* Increased revenue and/or profit: Firms have dramatically grown revenue or profit or both. Firms have finally broken into the world of exports. For example: Kings’ Foliage Nursery saw a 125% increase in its revenue to Canada and achieved a $13:$1 revenue: expense ratio in targeting this market The Produce Connection grew export sales 335% in three years – to almost $4.6 million. Tropical Delight Daiquiris lost their largest customer and began to focus on exports for new revenue. They recaptured their lost revenue --- but increased their profitability 200%. Big Chef had tried to export for more than 2 years. Two days after completing the program, they got a commitment for their first export sale … and a week later got paid for that sale! *For participants, what are the goals and objectives of the MET program?* The mission of the program is to develop a new revenue stream (if a firm has never exported) or to increase revenue –-- and profit --- for those firms that are already exporting on a limited basis. To achieve this, there are four objectives: Provide participants knowledge, tools, resources, and contacts -- people that can help them export efficiently and effectively; Answer specific questions (e.g., How do I find customers; How do I get paid?) Get participants in front of qualified customers that can buy or in marketing venues where participants can sell; Introduce participants to firms – small firms like themselves – that have transformed their business by using the resources they learn about to export. *How do I get trained?* Participants attend a series of seminars that cover key aspects of exporting including: Basic concepts and an introduction to the US Foreign Agricultural Service and the US Commercial Service; Market research tools Marketing resources, i.e., organizations that provide sales leads, access to trade shows, trade missions or reverse trade missions, and/or 50% reimbursement of international marketing expenses Getting products to the customer/logistics and shipping Getting paid Export financing Meeting firms that have transformed their businesses through exporting. After the seminars, participants are coached for a year working to use the tools and resources about which they have learned.