NOMINATED BY ZEYNEP TURK, MAINE INTERNATIONAL TRADE CENTER
If there is one Maine product that is instantly recognizable as ours nationwide and around the world, it’s lobsters, and that makes them integral to Maine’s coastal economy. When Grace Phillips moved to Maine 16 years ago after she received her MBA with a focus on international trade, she saw the potential that the iconic Maine product had in the global market. However, it would not be until 2014 that she took advantage of the opportunity presented by Maine’s seafood industry, launching Belle Cove as an exporter of lobster and other seafood.
With a focus on international markets, Grace took full advantage of programs and opportunities to grow her sales. She was able to use State Trade Expansion Program (STEP) funding to pursue new customers and implement strategies to grow, including a website in both English and Traditional Chinese. Since most of Grace’s customers are based in Asia, this move proved incredibly useful and helped her connect with a wider customer base. Using Paycheck Protection Program funding in 2020 to make it through the disruption of the Covid pandemic, and an Export Express loan in 2021 to recover and grow her business even more. Currently selling to customers in 6 countries, Grace works with the Maine International Trade Center to attend international trade shows and the Export Import Bank to reduce the risks associated with export financing.
As a successful business owner and exporter, Grace has shared her experience and insight with fellow business owners across the state. In her role with the Women’s Business Center, Grace assists businesses and aspiring entrepreneurs in Southern Maine, with a special focus on new Mainers and exporters. Her insight has helped many of these businesses get off the ground and achieve their goals, and for those coming from other countries, helping them realize their version of the American Dream. If the support she provides through the WBC wasn’t enough, Grace also works with SCORE and Prosperity Maine to mentor other business owners as they start to grow and export.
Because of Grace’s effective use of exporting programs to grow, the consistent growth Belle Cove has seen since its launch in 2014, and Grace’s incredible support of her fellow entrepreneurs in Maine, the SBA is pleased to name Belle Cove, LLC as the 2024 Small Business Exporter of the Year for Maine.
