China, as you’ve often heard, is the world’s fastest growing economy, and not just for its low-cost manufacturing. It’s also home to a rapidly growing consumer market. Big American companies like GM, Harley Davidson and Amway have made big bucks selling to Chinese consumers.
But for smaller American companies, breaking into the Chinese market can be difficult, confusing and expensive.
This week, the Michigan Economic Development Corporation announced a new program to help small businesses make that leap. It’s the first program of its kind in the country.
“The program will offer Michigan companies the opportunity to test their products in the China consumer market with limited risk,” MEDC President and CEO Michael A. Finney said in a release.
As part of the program, the MEDC is partnering with Export Now, a private company that specializes in helping businesses export their products to China. A hundred small Michigan companies will get a chance to take part. For them, the program could be a transformative opportunity.
But it’s also a sweet deal for Export Now, which is based in Ohio. And the owner of a Michigan-based export services company hopes he won’t be left behind.