Runs a company, back in America, producing wind instrument (7)
I believe the answer is:
ocarina
'wind instrument' is the definition.
(ocarina is a kind of wind instrument)
'runs a company back in america' is the wordplay.
'runs' becomes 'r' (abbreviation in cricket).
'company' becomes 'co' (abbreviation).
'back' says the letters should be written backwards.
'america' becomes 'a' (common abbreviation - e.g. in organisation names).
'r'+'a'+'co'='raco'
'raco' backwards is 'ocar'.
'ocar'+'in'+'a'='OCARINA'
'producing' is the link.
(Other definitions for ocarina that I've seen before include "dated instrument" , "Play a musical toy in the ICA, Nora" , "Terracotta wind instr." , "Toy flute" , "Toy-like wind instrument" .)