These days, the world is much smaller. Not only are companies competing within their industry at home, but also with businesses around the world. America’s manufacturing institutions account for a large portion of the global manufacturing community and staying competitive in these markets can be a challenge for any business. To help MBE manufacturing companies find success in global markets, the Minority Business Development Agency is focusing on its different initiatives to connect minority business with large private sector partners and their overseas operations.
One such initiative is Power Africa, an initiative to double access to power in sub-Saharan Africa. More than two-thirds of the population of sub-Saharan Africa is without electricity, and more than 85 percent of those living in rural areas lack access. Power Africa will build on Africa’s enormous power potential by targeting African Ministerial level delegations, U.S. government officials, investors, entrepreneurs, and Fortune 500 & global companies engaged in energy infrastructure (renewable energy, smart grid, battery storage, etc), power distribution, management, development and other energy industry technical aspects. The goal of the program is to create business development opportunities by facilitating engagement between U.S. private stakeholders and African public/private stakeholders in the energy and agribusiness sectors.
Another initiative is the U.S. Department of Commerce’s Look South campaign, a coordinated effort to encourage companies to look towards Central and South America to do business. Look South’s objective is to help businesses explore these markets with their emerging opportunities and assist them in tapping into federal programs, services, and financing.
To learn about how to find success in new markets, attend the National MBE Manufacturers Summit’s panel, “Global Manufacturing and Supply Chains: Exporting as a Ticket to Success.”