Powhatan Business accepted into VALET Program

Powhatan Business accepted into VALET Program

Powhatan Business accepted into VALET Program

Recognizing this vital opportunity to participate in global growth, the Virginia Economic Development Partnership’s (VEDP) International Trade division has dedicated several programs to developing the state’s competitiveness and strategic growth in foreign markets. One such initiative, the Virginia Leaders in Export Trade (VALET) Program, works to encourage local businesses to create dynamic export models. Challenges like startup costs, expertise gaps, research capabilities, and strategic modeling are difficult for any business to successfully navigate on their own. Through access to professional advice and capital investments, VALET reduces these barriers and guides companies toward successful export models. Each year, twenty-five companies engage in a two-year business acceleration program, learning to develop international sales plans, strategize business expansion, and gain entry into new markets. VALET provides its participants, generally middle market firms, with the expertise and capital necessary to get these initiatives started and overcome barriers to international trade. Source: VEDP

Through the Powhatan County Economic Development department, Fortune Auto North America was referred to the state VITAL  program with VEDP to help the company with research into international markets for trade. Fortune Auto is a local company that produces hand built to order race-winning, performance suspension systems for Japanese and European vehicles. This program is part of the overall VALET program designed to assist businesses with market research through VCU Graduate Business school classes. Graduate students will gather the necessary information to help Fortune Auto better understand where their product would best be suited in the international markets. 

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