New Elective Courses: Small Business and Personal Finance

By The Loeb-Sullivan School of International Business and Logistics Department Chair David Sorich, DBA

A desire to offer elective courses that would benefit all MMA students, not only of interest to International Business and Logistics (IBL) students has led to the creation of two new courses: Small Business and Personal Finance. Both courses are focused on upper-class students to aid in their preparation for graduation.

The Personal Finance course focuses on investment, debt and spending decisions students will face as they earn their first paychecks and beyond. Offered in fall 2025 and spring 2026, both sections exceeded expectations. The fall course drew mostly IBL students, but by spring, interest had spread and non-IBL students filled the roster. The course has since been made a permanent elective offered each semester, with additional sections possible if enrollment continues to grow.

Maine Maritime Academy was recently honored as Service Provider of the Year by the Maine International Trade Center.

The success of the small business course was easily measured by the ‘Shark Tank’ type event that was co-hosted by IBL and The Rising Tide, with financial support provided by The Rising Tide, Machias Savings Bank, Castine Community Partners, and a few anonymous donors. Seven student business ideas fostered during the course competed for a Grand Prize of $3,000, with two ‘People’s Choice’ awards of $500 being presented. Judges selected “That’s a Wrap”, a business that focused on spring set-up and fall winterizing of outdoor furniture and accessories as the winner of the grand prize. The small business course will continue to be taught each semester, with ‘Shark Tank’ style business pitch competition being held each spring for any students who enrolled.

Trade Compliance Curriculum

As the International Business & Logistics program looks ahead, it is clear that one of the most pressing challenges facing today’s global enterprises is navigating the increasingly complex landscape of trade compliance, both in importing and exporting. The recent tariff disruptions and heightened regulatory scrutiny have underscored just how essential this often-overlooked
component of the supply chain has become. At the same time, governments worldwide continue to expand enforcement efforts and raise penalties for non-compliance with the growing body of complex international trade laws and regulations.

Leveraging Professor Jeff Simpson ’94 & ‘00’s decades of professional experience, advanced certifications, and professional licenses in international trade, compliance, and operations, MMA is introducing dedicated trade compliance coursework within our undergraduate offerings. Few institutions are as uniquely positioned as Maine Maritime Academy to launch this specialized area of study quickly and effectively. By pioneering this curriculum, MMA can establish a distinct competitive advantage, expand its reputation as an innovator in maritime and global logistics education, and drive increased enrollment within the IBL Department at a moment when student and industry demand for this expertise has never been higher.

Craig Johnson accepts the Service Provider of the Year award from the Maine International Trade Center.

Maine International Trade Center 2026 Service Provider of the Year Award

Maine Maritime Academy was recently honored as Service Provider of the Year by the Maine International Trade Center (MITC), a recognition that reflects the Academy’s strong and sustained commitment to supporting MITC’s core mission and Maine’s global business community. A key part of this achievement is the exceptional outreach, expertise, and partnership demonstrated by the IBL Department, whose faculty consistently collaborate with MITC on programs and industry engagement through workshops, webinars, online trainings, and direct support to Maine companies navigating international trade. The IBL Department has become a valued resource and a trusted partner with MITC. This award not only highlights the Academy’s impact on the State’s economic development in international trade but also reinforces the vital role the IBL Department plays in advancing trade readiness and strengthening Maine’s position in the global marketplace.

IBL Industry Advisory Committee

As COVID impacted so many parts of our lives, the Industry Advisory Committee (IAC) went dormant and basically disbanded. As MMA and the IBL Department began preparations for the upcoming 10-year NECHE accreditation renewal and the re-institution of the International Accreditation Council for Business Education (IACBE) for the IBL Department, it was time to re-institute the IAC. Initial Discussions started with Oscar Adams’13 to take the lead as the President of the Committee and led to our inaugural meeting in October 2025. The follow-on meeting is scheduled for summer of 2026. Currently we have 11 members from the US, Ireland, Kuwait, and Turkey. The IAC will be a large part of the accreditation process and enhance the future development of the IBL Department.

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