Offering assistance for businesses looking to go international
CHARLOTTESVILLE, Va. (CBS19 NEWS) — Local businesses that are looking to go international will be getting some help from the Central Virginia Small Business Development Center.
According to a release, the CVSBDC and Virginia National Bank are launching the PASSPORT to Global Markets cohort in September.
This will provide businesses with help and access to capital so they can expand.
“Our region has a dynamic economy, highly-educated workforce, and a combination of capital and creativity that make it an emerging hotbed of rapid-growth companies,” said Rebecca Haydock, CVSBDC director. “We know that many businesses need guidance to succeed in international markets. The Passport program was created to meet that demand.”
The 10-week cohort program is taught by experts and supported by a team of market research interns, with participants getting individualized support.
The release says the participating businesses will get an international growth and compliance plan specific to their business and its strategic opportunities upon completion.
The program will be led by the International Business Development Team of the Virginia Small Business Development Center.
Topics will include identifying market opportunities, finding a sales partner, foreign currency, export regulation compliance and more.
The release says Virginia National Bank is sponsoring the event to provide some implementation money to the participating businesses.
Businesses that complete the course will get their $200 registration fee returned and get a $500 award. They will need to dedicate at least four hours a week to virtual group sessions, one-on-one consulting and counseling.
Eligible businesses need to have been in business for two or more years, have five or more employees, show proven domestic sales, and have a specific international growth objective or challenge.