Wednesday, February 4, 2015

UT College of Business and Innovation presents fourth GlobalTarget series

The University of Toledo’s College of Business and Innovation (COBI) is again partnering with United Parcel Service (UPS) and the U.S. Commercial Service to provide area small and medium-sized businesses access to experts who will help their company enter new global markets through the GlobalTarget program.

This is the fourth year UT COBI is offering this program. Beginning in March, 2015, GlobalTarget participants meet monthly for nine months in specialized sessions covering relevant topics based on an understanding of current members’ needs. The program then helps companies develop plans to improve their business’ supply chain, identify talent, understand export financing, and develop market entry strategies.

“It’s a global world. Facilitating existing or new exporters to enter foreign markets benefits all of Northwest Ohio,” noted Dr. Gary Insch, COBI’s Dean. “Companies often recognize that expanding to global markets is something they should do. We make it easier for them to do this, because we have the experts who will show them how to proceed. Furthermore, we provide them with all the criteria for success, whether they have a manufactured product or intellectual property.”

“Global Target not only assists companies that are planning to conduct international business, but it also works with businesses already doing business globally who are looking for ways to expand their international presence, ” noted Debbe Skutch, Director of UT’s Center for Family & Privately-Held Business and GlobalTarget Program Coordinator. “Furthermore, GlobalTarget is the first organized, focused attempt in this region to not only provide information, but to actually match local manufacturing companies with foreign markets."

Kurt Miller of Northwood Industries found his recent experience with GlobalTarget very beneficial. “The UT Global Target program covered topics that included understanding business and social cultures, credit policy and getting paid, international marketing and shipping. Topics were led by knowledgeable individuals who work directly in those areas of international business."

He added, "I think our greatest lesson from the GlobalTarget program was the quality of professional contacts available to us and the vast resources accessible to companies who want to pursue international business.”

Maureen Georgevich of Right Way Safety Equipment said, “GlobalTarget is not only an educational experience, but also a celebration of local businesses. Right Way Safety is better prepared to handle the importing and exporting of goods from other countries: we will utilize shipping strategies to keep costs low and we have a better understanding of international contracts and legalities, which will ensure that business continues to run smoothly."

"The resources, advice and knowledge offered by the guest speakers are valuable beyond estimation," she observed. "Those who spoke were eager to answer any questions and help with any dilemmas. The experience will surely benefit us for years to come.”

GlobalTarget participants also have access to the International Trade Assistance Center (ITAC), which provides free export assistance services to small- and medium-sized businesses. Services include market research; an examination of their culture, finances and resources to make sure they are ready to export; locating sources of funding, such as a loan or grant; export compliance education; cultural and language assistance; export documentation; and logistics.

Other features and benefits of GlobalTarget include access to ancillary educational programs offered by UT COBI - - such as the Schmidt School of Professional Sales and the Center for Family and Privately-Held Business - - and site visits to area companies that have already achieved a level of success in global entrepreneurship.

UT COBI’s fourth GlobalTarget series of programs begins in March, 2015.  A limited number of grant and funding opportunities are available. For more information, you can download a registration form at utoledo.edu/business/global/target, or call the UT COBI Center for Family and Privately-Held Business at 419.530.2068.

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