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Global Connections
Fall 2024 Projects
MU ITC Interns Supporting the Decision-Making Needs of Area Businesses
Sixteen MU and Trulaske College of Business students interning with the International Trade Center shared findings from the semester-long global market research projects with four U.S. companies each seeking to expand their sales internationally. The students have completed extensive research to identify and evaluate international markets with sales potential for each of the participating companies. Companies working with the Trade Center this Fall included: Burger Specialty Foods (California, MO), Cocoon by Thermasi (St. Clair, MO), Heron Group (Chicago, IL) & Kentegra Biotechnology (U.S. & Kenya) and Patrice’s Culinary Collective (Kansas City, MO). In comments shared with the students following the final presentation Carl Hermreck, Senior Vice President of Burger Specialty Foods shared – “I just want to thank you guys for all the work. Obviously a lot of work went into this, and you can see it. It’s now our job to get something done with it, right. And so we’ll take this and figure out a strategy. Hopefully, these real-life experiences mean something to you. Because, let me tell you, we sell product, we make it every day. We are real life. So that’s what we do. And I appreciate you guys and everything you do. Thank you.”
See the ITC student interns in action.
Karibu Kenya!
Global Market Research in Action: ITC Interns Travel to Kenya
University of Missouri Trulaske College of Business International Trade Center Student Interns traveled to Nairobi, Kenya to wrap up their Fall 2024 global market research consulting project with Heron Group (Chicago, IL) and Kentegra Biotechnology (U.S. & Kenya). Students presented their Final Project Presentation to company representatives. The grouped toured Kentegra’s facilities and had the opportunity to speak with some of their contract farmers. While in Nairobi, students also had an opportunity to visit with enterprises, organizations and business professionals learning more about Kenya’s economic, trade and education environment. This was an amazing opportunity elevating the students’ experience-centered learning by further developing cross cultural competencies while visiting Kenya.
ITC student interns share their “Beyond the Classroom” internship reflections.
What in the World? ITC Company Spotlight #1
American Outdoor Brands (AOB) is a growth-oriented provider of outdoor products & accessories, including hunting, fishing, camping, shooting, and personal security and defense products, for rugged outdoor enthusiasts.
With an eye toward expanding product sales internationally, AOB partnered with the Trulaske International Trade Center to proactively identify and analyze international market where sales opportunities exist.
As shared by Andrew Fulmer, Chief Financial Officer - “American Outdoor Brands is proud to partner with the Trulaske College of Business, and specifically the ITC, as it gives us exposure to a talented group of faculty and students that are helping us explore the expansion of our international footprint. We were very impressed with the work that the ITC and its students have performed, mapping out countries, industries, and potential new customers.”
Continuing to grow, AOB recently added Grilla Grills as a new brand to its brand portfolio. As another exciting development to share, the company will open a retail sales outline at their Route Z/ AOB headquarter location in Columbia, MO in February 2025.
What in the World? ITC Company Spotlight #2
Spirt of ’76 Fireworks: Shooting for the Stars
When John Bechtold, B.S.B.A. ’94, set his sights on expanding his thriving fireworks business to international markets, his first step was to seek expert advice from the International Trade Center at the Robert J. Trulaske, Sr. College of Business.
The ITC, known for leveraging student interns, faculty expertise and leading market research databases, tailors its research to meet the specific needs of Missouri businesses aiming to enter global markets.
As the owner and president of Spirit of ’76 Fireworks, Bechtold was eager to begin exporting his products but was uncertain about where to start. During the fall 2023 semester, the ITC assigned a team of four students who not only provided the answers Bechtold needed, but also offered insights that far exceeded his expectations.
“The students were absolutely amazing,” Bechtold said. “What they did in a semester would have taken us much longer to do on our own.”
Thanks to the students’ work, Bechtold and Robert Smith, vice president of Sprit of ’76, are now collaborating to establish partnerships with distributors in Mexico and Canada. These connections were made possible through the students’ comprehensive research and insightful recommendations.
“They weeded through tons of information that prevented us from going down pathways that would not have benefitted us,” Smith said. “In essence, they provided us with a clear road map.”
Fall 2024 Trulaske ITC Graduate Spotlight – Olivia Sanders
Olivia interned with the International Trade Center during the Fall 2024 semester and graduated in December 2024 with her BSBA in Business with an emphasis in Management and a BA in International Studies with a minor in Mandarin Chinese. Olivia lead and an active and engaging college career, taking whatever opportunities she could to expand here cultural competency and global mindset. In addition to her degrees, she graduates with Certificates in Global Business and Multicultural Studies. She also studied abroad in Italy during the Summer of 2023 and then served as Trulaske Study Abroad Student Manager for the same program in 2024. We wish Olivia all the very best post-graduation and know that she will be a significant asset to any employer who has the opportunity to hire her!
Where in the World? Trulaske ITC Alumni Spotlight: Mariah Oke-Thomas
Mariah Oke-Thomas interned with the International Trade Center during the Fall 2023 semester. She graduated from the Trulaske College of Business in December 2023 with a BS BA with an emphasis in marketing. With interest sparked to pursue a career involving global trade, Mariah ultimately landed a position working for the World Trade Center – Kansas City.
Global Development
Building Competencies: Certified Global Business Professional (CGBP)
Seeking to enhance the import and export skills of employees and better position Missouri and U.S. companies to be successful in today’s global market, the International Trade Center hosts a Certified Global Business Professional (CGBP) Training session annually targeted at company representatives, trade community members and students seeking to secure the CGBP credential.
Make plans to join us virtually for CGBP Exam Prep Training at the University of Missouri – August 5-7, 2025.
Connecting Exporters: 2024 Mid-America Trade Summit
Each fall, the International Trade Center, along with trade assistance partners from across the region, hosts the Mid-America Trade Summit. The summit provides a unique opportunity to bring together top exporters, global trade leaders and trade assistance providers from across Mid-America.
Make plans to join us for upcoming Mid-America Trade Summit – October 8, 2025.
Global Insights
Market Spotlight – The Dynamic Export Market of India
Exporting to India offers numerous advantages due to its rapidly growing economy and large consumer base. In 2023, India’s GDP was USD 3.75 trillion making India one of the fastest growing economies in the world. It is projected to become the 2nd largest economy by 2075 creating long-term growth opportunities for U.S. exporters. The market’s rapid digital transformation with increased internet penetration and mobile usage provides e-commerce and digital service opportunities in India. India is the world’s most populous country providing a vast market for goods and services. In 2023, the total value of U.S. exports to India was approximately USD 40.1 billion. The growing middle class and increasing disposable income create demand for various products. However, the Indian government has implemented several initiatives to reduce import dependencies like the “Make in India” and “Aatmanirbhar Bharat” (Self-Reliant India) campaigns. India has introduced various market access barriers in the form of tariff and taxes, localization requirements, standard mandates, labeling practices, price controls and import restrictions. While complex and challenging, the Indian market offers significant export opportunities for U.S. companies.
For additional market insights see the India Country Commercial Guide.
Trade Resource Spotlight – B-READY
B-READY (Business Ready) is a leading report by World Bank Group that evaluates the business and investment climate across various economies worldwide. Launched in 2024, it replaces the previous Doing Business report. The B-READY report accesses the regulatory framework, public services and operational efficiency that impact firms and markets. The report covers ten key topics essential for market development including business entry, business location, utility services, labor, financial services, international trade, taxation, dispute resolution, market competition and business insolvency. The first three editions of the B-READY reports through 2026 collectively will cover about 180 economies.
Trade Indicator Spotlight – Country Risk Rating
Country risk in global business denotes potential losses or adverse effects on a company’s operations and investments due to factors specific to a particular country. These risks can be broadly categorized into economic, political and sovereign risks. Understanding and managing country risk is critical for businesses when evaluating entry into a global market, as it helps to make informed decisions and safeguards against potential losses. AM Best defines country risk as the risk that country-specific factors could adversely affect an insurer's ability to meet its financial obligations. Country risk is evaluated and factored into all AM Best ratings. As part of evaluating country risk, AM Best identifies the various factors within a country that may directly or indirectly affect an insurance company. Countries are placed into one of five tiers, ranging from Country Risk Tier 1 (CRT-1), denoting a stable environment with the least amount of risk, to Country Risk Tier 5 (CRT-5) for countries that pose the most risk and, therefore, the greatest challenge to an insurer's financial stability, strength and performance.