EXIM recently announced that four small businesses who represent a cross section of American innovation and industry sectors have been named Exporters of the Year, honored during the 2021 Virtual Annual Conference, being held September 21-23.
The four companies, who exemplify EXIM’s mission of supporting American jobs by facilitating U.S. exports, have utilized EXIM’s export credit insurance and working capital loan guarantees to expand their international sales and compete in the global marketplace.
"Approximately 90 percent of EXIM’s authorizations directly support small businesses such as the exporters being awarded at the annual conference. We are dedicated to facilitating the exporting success of U.S. small businesses as they compete in the global marketplace and support American jobs at home," said EXIM Acting Senior Vice President of Small Business and Vice President of Women- and Minority-Owned Business Outreach Tamara Maxwell.
Exporters Represent American Ingenuity and Accomplishment
The four winners are:
- AKAS Textiles, a minority-owned family business in Bensalem, Pennsylvania. The textile and design company has seen double-digit growth every year since it was established in 2007, and its eco-friendly fabrics are used in top brands – and have even gone into space with U.S. astronauts and been part of the Winter Olympics torch. Working with EXIM, AKAS Textiles grew its exporting from 5 percent of revenues to 15 percent, and the company has a goal of achieving a 50 percent export volume. During the pandemic, the small business stepped up to the challenge of meeting demand for fabrics used in face masks and surgical gowns, increasing its manufacturing capacity by more than one-third.
- Darn Tough Vermont, a family-owned small business in Northfield, Vermont. For more than 40 years, three generations have remained committed to producing comfortable, durable, well-fitting, and sustainably sourced socks – a promise the company backs with a lifetime guarantee. With EXIM support, Darn Tough is well on its way to achieving its goals of worldwide brand recognition and substantial growth in international markets. During the pandemic, the company underscored its commitment to the local community by donating 100 percent of proceeds from its Food Farmer’s Market socks to the Vermont Foodbank.
- Motortronics, a family-owned business in Clearwater, Florida. Founded in 1982, Motortronics was the first company in the world to produce a specific energy-saving soft starter for electrical motors – and it hasn’t stopped innovating since, growing into a worldwide leader in manufacturing solid-state electrical motor controls and motor protection products. Since 2007, Motortronics has relied on EXIM, using both export credit insurance and working capital guarantees to expand into new markets and increase its sales volume. The company exports its products to buyers in more than two dozen countries, including equipment that supports fresh-water and wastewater treatment efforts in Africa.
- Two Rivers Fisheries, a minority- and woman-owned small business on Wickliffe, Kentucky. The company, established in 2012, processes and exports several varieties of fish from the Mississippi River and nearby tributaries, converting an invasive species into an innovative food source – turning an environmental problem into an exporting opportunity. With EXIM support, Two Rivers has become the largest U.S. exporter of Asian carp, shipping its products to a dozen countries – which also created new markets for local fishermen. The company’s environmental focus also extends to it facilities, where heat output of the processing equipment is used to heat the company’s offices and waste products are recycled into organic fertilizer.
Learn from Successful Small Business Exporters
To help other U.S.-based companies achieve their own exporting success, EXIM’s Annual Conference features a Small Business Track highlighting practical strategies and tactics for implementing an effective exporting strategy.
Since more than 95 percent of the world’s consumers live outside the United States, the event features exporter panels, breakout sessions, and keynote speakers aimed at helping small businesses tap into the international market to grow their business and confidently export worldwide.
Join us for three days filled with actionable advice designed to help you take your business to the next level. Companies with 500 or fewer employees qualify for the Small Business Rate of $150 for the three-day event – and it’s not too late to register!