Opportunity #2: Government-Funded Services-Based Projects

Another mechanism that allows for service-providers to enter international markets much easier than going it alone are the number of funded projects

Figure 5.2 U.S. Trade Deals and Key Areas Covered

and grants that exist. Unfortunately, many companies, especially the SMEs, are either completely unaware of this opportunity; do not know how to navigate the funding process; or do not have the time, human capital, and expertise to apply for these projects quickly and consistently. As a result, these companies miss out on some of the benefits, which may include multiyear funding, billions of dollars’ worth of business, a transparent system, and a secure payment process. These opportunities can be found via several organizations, which will be discussed here (see Chapter 7 for a step-by-step process on leveraging such opportunities).

Federal government agencies, as in the case of the United States, offer contracts and/or grants that allow service-based companies to provide a service overseas. Additionally, multilateral development banks or international financial institutions fund a number of development projects globally, many of which request the assistance of service providers.

U.S. Agency for International Development (USAID)

USAID funds projects focused on international economic development and transformative change in countries around the world. These projects can be located on the organization’s website at www.usaid.gov. The projects are organized by themes, which include, but are not limited to, the following:

■ Agriculture and food security

■ Economic growth and trade

■ Education

■ Gender equality and women’s empowerment

■ Global health

For those service-providers interested in specific countries or regions, they can also identify projects based on their geographical preference. According to the USAID website, the agency is slated to receive US$19-6 billion in funds budgeted for fiscal year 2021. Some of these projects may align with current policy changes, especially when it comes to the implementation of trade agreements. For instance, all tariffs on U.S.-Dominican agricultural trade will be removed by 2025. USAID has been funding projects that are designed to develop the Dominican agricultural sector so that producers of different commodities can compete once these tariffs are removed completely.