Watch the Winners of the SBA and Visa Export Video Contest

ngoriel — Thu, 16 May 2013 19:24:44 +0000

Did you know that the world’s population already surpasses 7 billion?

Did you know that more than 95 percent of the world’s consumers live outside the United States?

U.S. exports of goods and services accounted for 14 percent of the national GDP in 2008 and climbed to 14 percent in 2012. These numbers show the growing role exports are playing in our nation’s economic recovery.

The surprising fact about these numbers is that only less than one percent of the 30 million plus companies in the U.S. are engaged in exporting. Can you imagine the scenario if instead of one percent it were two percent?

Clearly, the potential of exports as a major economic engine cannot be overstated, that’s why, in his 2010 State of the Union address, President Obama announced the National Export Initiative as an effort and a challenge to promote American exports. Two years later, there is evidence that those efforts are paying off: In 2012, U.S. exports hit an all-time record of $2.2 trillion and supported 9.8 million jobs.

The core mission of the U.S. Small Business Administration is to help small businesses start, grow and create jobs; the foundation of an economy built to last. Helping small business exporters succeed in the global market is a critical part of that agenda, which SBA carries out through financial assistance, training, counseling and a wide array of export-support services in collaboration with other federal agencies and partners in the private sector.

One example of such collaboration is the annual export video contest that SBA and Visa, Inc., have been co-sponsoring since 2011. It is designed to encourage small business exporters to share, via a short video, their success stories and small practices as an inspiration for other small businesses to explore exporting as a viable, profitable option.

Five video entries are selected as winners based on the following criteria:

Inspirational nature of the message for potential exporters and effectiveness in promoting exporting
Creativity and uniqueness of video concept
Value of lessons learned/communicated
Use of U.S. Government program/service
Innovative means of delivering the message
Audio and visual quality of the video

The awards include monetary incentives that range from $2,000 for fifth place to $10,000 for first place. This year’s winners were:

First place: Bassets Ice Cream of Philadelphia, with an entry titled “Scooping Up International Sales”
Second place: REKLUSE of Boise, ID, with “Exporting Success"
Third place: Premier Choice Inc, DBA Perfect Bite of San Jose, Calif., with “‘Fruits' of Our Labor”
Fourth place: MMIC of Johnsbury, Vermont, with “MMIC What We Do”
Fifth place: CID Bio-Science of Camas, Wash., with “The World and Beyond”

The awards were presented on May 16 by SBA Associate Administrator for the Office of International Trade Dario Gomez at the World Trade Day conference in Denver, where SBA Deputy Administrator Marie Johns was a keynote speaker. Also recognized was the winner of SBA 2013 Exporter of the Year award, Zeigler Bros., Inc. (ZBI), like Bassett Ice Cream, another firm from Pennsylvania. ZBI is engaged in the research, development and production of nutritional solutions for the aquaculture, pet/zoo and lab/biomedical industries.

As Johns said, these firms are prime examples that “exporting is a profitable, rewarding path to success.”

As a business owner, you may feel that you’re doing pretty well so far but, let’s face it, if you can substantially increase your bottom line and in the process help the nation’s economy, wouldn’t you say that’s an enticing proposition?

Remember the numbers: 95 percent of the world’s consumers live outside the U.S … and that’s a huge market! Getting a piece of that pie doesn’t have to be a dream deferred; it’s as close as a click or phone call away through the SBA. To “borrow” a popular slogan: “Just Do It!”

For more information about SBA programs and services to help small business exporters, visit www.sba.gov/e xporting

Innovative and Outstanding Small Businesses Receive Tibbetts Awards

ngoriel — Thu, 16 May 2013 19:06:45 +0000

NOTE: This blog is by Pravina Raghavan, Director, Innovation and Technology at SBA.

Today, I was pleased to join Roland Tibbetts, the father of the SBIR program, our SBA Administrator Karen Mills and Senator Mary Landrieu, Chair of the Senate Small Business and Entrepreneurship Committee, in recognizing eighteen small businesses and three individuals for the critical role they play in research and development and commend their success in driving innovation and creating new jobs. In addition, three past participants in SBIR who represent the very best of the 30-plus-year SBIR program were named to the third annual SBIR Hall of Fame class.

The Tibbetts Awards and Hall of Fame Awards are presented to companies and individuals from all over the United States who are beacons of promise and models of excellence in high technology.

The SBIR program has been an important resource for commercializing promising technologies and spurring innovation. A study by R&D Magazine showed that between 2002 and 2006, 25 percent of the top 100 innovation came from first that received SBIR funding.

As many of you may know, the SBIR program was reauthorized a little over a year ago. Since then, the SBA has been working very hard to make the program better for our most innovative firms. We have updated the eligibility, size rules and policy directives to make the program more effective and streamlined. We’re working with our federal partners on shortening timelines from solicitation to award so that firms can get money faster. We are improving data collection and instituting robust performance benchmarks around commercialization. We will continue to put in place a SBIR infrastructure that will help turn great ideas into successful, thriving businesses.

At SBA, we believe that the SBIR program is a cornerstone of our mission as well an important factor in the President’s high growth and jobs agenda. According to the Department of Commerce, innovation has been responsible for approximately two-thirds of our country’s economic growth since World War II.

If we are going to realize our full economic potential, we need more people across the country to start the types of businesses that make our economy more competitive and more innovative.

I encourage you to take a moment and read through some of our winner’s profiles at challenge.gov. They are great companies and are transforming their industries. Many have graduated from the SBIR program but continue to show strong economic growth, business investment, broader social and economic impact and technical innovation.

This is what the SBIR program is all about and why we’ve come together to celebrate at the Tibbetts and Hall of Fame Awards.

Companies

Accuray, Inc. -- Sunnyvale, CA; Aurora Flight Sciences Corporation – Cambridge, MA; Beacon Interactive Systems, LLC – Cambridge, MA; CPSI Biotech – Owego, NY; Design Interactive, Inc. – Oviedo, FL; Ecovative Design, LLC – Green Island, NY; GS Engineering, Inc. – Houghton, MI; Harmonia Holdings Group, LLC – Blacksburg, VA; Institute of Disabilities Research and Training (IDRT), Inc. – Wheaton, MD; Kutta Radios, Inc. – Phoenix, AZ; MBF Bioscience – Williston, VT; Modular Robotics – Boulder, CO; Ocean Renewable Power Company, LLC – Portland, ME; Orono Spectral Solutions, Inc. – Bangor, ME; Protochips, Inc. – Raleigh, NC; Syntonics, LLC – Columbia, MD; Tier1 Performance Solutions, LLC – Covington, KY; Torrey Hills Technologies, LLC – San Diego, CA

Individuals

Richard Flake, Air Force Research Laboratory (AFRL/XPP) – Wright-Patterson AFB, OH; Joe Hennessey, Ph.D., NSF SBIR/STTR Senior Advisor – Arlington, VA; Tizoc Loza, Northrop Grumman Corporation – Falls Church, VA

Hall of Fame

Aerovironment, Inc. – Monrovia, CA; Autonomous Technologies Corporation – Orlando, FL; Biogen-Idec – Weston, MA

RFP-EZ Delivers Savings for Taxpayers, New Opportunities for Small Business

Karen Mills — Wed, 15 May 2013 17:09:26 +0000

America’s small information technology firms are some of the most innovative in the world. They are nimble, creative and can get the job done. And thanks to a new online government platform, it is getting easier for them to address some of the Federal Government’s most pressing IT needs. It’s a win-win: Small technology companies get easier access to the Federal Government’s nearly $77 billion information technology supply chain, providing a potentially critical revenue stream as they build their operations. And government agencies get to work with innovative small firms with solutions that can help make government agencies more efficient and streamlined.

The catalyst for these connections is an exciting new pilot project called RFP-EZ. And the results we are seeing from this program highlight what is possible when you unleash the power of American entrepreneurs.

RFP-EZ is a new and easy way for companies to learn about and compete for government contracts – in particular, small companies that lack the experience or administrative support generally needed to take full advantage of the Government’s Request for Proposals (RFP) process, the means by which many government contract offerings are presented to the business community. The RFP-EZ platform was developed jointly by Federal innovators working in the SBA and private-sector entrepreneurs serving temporary stints in the Federal Government through the Presidential Innovation Fellows program, launched by the U.S Chief Technology Officer and Chief Information Officer team last year. Sharing their private- and public-sector insights, the team developed RFP-EZ as a simplified platform aimed at opening up the Government marketplace to a wider range of companies and saving taxpayer money.

Applying agile development principles, the Fellows team designed RFP-EZ over a six-month period, publishing the platform’s code openly on GitHub. The team then launched the pilot by posting five relatively simple website development and database contract offerings, four of which were also announced via the standard government portal, FedBizOps. On a per-project basis, bids received through RFP-EZ were consistently lower than those received through FedBizOps—19% to 41% lower, and over 30% lower on average. Bids made through RFP-EZ also showed less overall variation. In addition, during the pilot period, RFP-EZ attracted more than 270 businesses that until now had never approached the world of Federal contracting.

Average of All Bids Received for RFP-EZ vs FedBizOps (FBO)

According to Office of Management and Budget’s IT Dashboard, the Federal Government will spend more than $1.4 billion on Web Infrastructure and Web Content Management Systems in FY 2014. Based on 2011 and 2012 results, we can expect about half of these projects to be under the $150,000 “Simplified Acquisition Threshold” that would make them eligible for contracting through RFP-EZ. As we refine and expand the use of RFP-EZ, we are confident that its success will grow, delivering better value for taxpayers and opening new opportunities for small businesses.

Leveraging feedback we received from entrepreneurs and Federal contracting officers, the next class of Presidential Innovation Fellows will begin work on version 2.0 of RFP-EZ, which will focus on improving the platform, scaling its initial results across the Federal Government, and adding innovative new capabilities. If your business would like to participate, we encourage you to get started by setting up a profile on RFP-EZ today. To all the businesses that submitted proposals through RFP-EZ and everyone who has given us feedback on the project, thank you for helping to bring this new capability to life – and we very much look forward to the path ahead.

Need Help Exporting? Join SBA’s Google+ Hangout for Tips to Get You Started

Stephen Morris — Tue, 14 May 2013 22:25:43 +0000

Thinking about exporting, but don’t know where to start? As part of World Trade Month, SBA will host a Google+ Hangout on May 22. The hangout will highlight ways that business can use federal government resources to increase exports.

When:

Wednesday, May 22 at 3pm ET

Who:

Dario Gomez, U.S. Small Business Administration, Associate Administrator for International Trade
Antwaun Griffin, U.S. Department of Commerce- International Trade Administration, Deputy Assistant Secretary for Domestic Operations
Dontai Smalls, UPS, Vice President for Public Affairs
Al Youngworth, CEO of Rekluse and SBA’s Exporter of the Year
Brian Kim, BBCN Bank Los Angeles and SBA’s Export Lender of the Year

Watch:

Watch the Hangout live at SBA's Google+ page or SBA's YouTube Channel

Join the Conversation:

Submit your questions via Twitter using the hashtag #TradeChat

Let Us Know About Innovators and Leaders in Small Business Financing

ngoriel — Fri, 03 May 2013 21:10:11 +0000

This blog is by Don Graves, Deputy Assistant Secretary for Small Business, Housing, and Community Development Policy at the U.S. Department of Treasury and has served as Executive Director of the President's Council on Jobs and Competitiveness. This blog first appeared at Treasury.Gov.

President Obama and Secretary Lew are committed to creating an environment where America’s small businesses can grow and prosper. An essential aspect of making sure these engines of job creation succeed is ensuring that entrepreneurs and small business owners have access to the capital and credit needed to turn their ideas into successful enterprises. The Department of the Treasury, the Small Business Administration (SBA), and agencies across the Administration have taken many steps over the last four years to support small business growth and enable innovation and expansion of small business financing.

But there is more work to do. On June 10, 2013, Treasury and SBA will host a Capital Access Innovation Summit. The day-long event will convene innovators in the field of small business financing with the goal of sharing innovative practices in the private sector and learning how the Administration can enable or encourage increased access to capital for small businesses. Building on the success of two previous capital access conferences, we will focus primarily on three areas: (1) Public and Private Capital Markets Access for Small Businesses - including innovative solutions to address any remaining gaps, (2) Small Business Financing: Data and Innovation - how the delivery of small business capital could be enhanced through emerging technology-enabled platforms and other innovations, and (3) Engaging Large Companies to Promote Small Business Growth.

To inform this conversation about small business growth, and help set the agenda for this year’s Capital Access Innovation Summit, we want to hear from you. Do you know leaders and innovators in small business financing? At Treasury.Gov, tell us about (a) leading innovators using technology and data to expand capital access; (b) effective partnerships between large and small businesses, and (c) thought leaders who have identified gaps in small business financing and effective solutions to fill these gaps.

Small Businesses Get a Leg Up with Financial Literacy

Michael Chodos — Tue, 30 Apr 2013 15:59:30 +0000

President Barack Obama recently proclaimed April National Financial Capability Month. Recognizing the importance of smart financial planning in achieving the American Dream, this month calls on individuals to empower themselves by seeking knowledge and tools for strong financial capability.

Nowhere is financial literacy more important than in the small business community. Small businesses are the embodiment of the American dream and the backbone of the American economy, creating 64 percent of the net new jobs created between 1993 and 2011.

Financial literacy for small business owners is imperative to making sound business decisions in an environment where financial services are often handled in-house. The success or failure of a small business in its early stages is often dependent on the financial capability of the enterprise’s leadership.

In this vein, the federal government is doing their part to promote financial capability and literacy for small businesses. Since its founding the U.S. Small Business Administration has helped secure millions of loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses.

Last year, the Federal Deposit Insurance Corporation and U.S. Small Business Administration partnered to create Money Smart for Small Business, a training curriculum for new and aspiring business owners. The FDIC and SBA have also formed a Training Alliance for organizations that continues to support small businesses through training, technical assistance or mentoring.

The 10 modules in the instructor-led training curriculum provide introductory training for new and aspiring entrepreneurs on the basics of organizing and managing a business. In addition to grounding participants in the basics, the curriculum serves as a foundation for more advanced training and technical assistance. The modules are: Organization Types, Time Management, Financial Management, Record Keeping, Banking Services Available for Small Businesses, Credit Reporting, Risk Management, Insurance, Tax Planning and Reporting, and Selling a Small Business and Succession Planning

To date, over 12,000 copies of the Money Smart for Small Business curriculum have been ordered and more than 10 Training Alliance Members have implemented the curriculum. The program has been an invaluable tool for small business seeking to improve their financial capability and literacy. Small business owners, persons without formal business training, financial institutions, small business development centers, city/county economic development offices, faith-based organizations and others have found the program greatly beneficial.

Another government tool promoting financial literacy is Mymoney.Gov, a Website dedicated to teaching all Americans the basics about financial education. Whether a person is buying a home, balancing their checkbook, or investing in their 401(k), the resources on MyMoney.gov can help individuals maximize each and every financial decision. In addition, the site contains important information from 20 Federal agencies and Bureaus designed to help them make smart financial choices.

These programs are easily accessible and simple to use with the click of a button.

From more information on Money Smart for Small Business or to order the curriculum visit http://www.sba.gov/moneysmart .

Join the US Government for #TradeChat and Get Your Exporting Questions Answered

Stephen Morris — Mon, 29 Apr 2013 18:15:44 +0000

Export, trade and finance related agencies across the federal government are teaming up during World Trade Month - May 2013 - to host a series of Twitter Q&A’s for U.S. companies. Businesses can participate by tweeting their questions using the hashtag #TradeChat during the scheduled times.

This Twitter chat series will provide U.S. companies with exporting solutions, including information on the resources available to begin or expand exporting goods and services to overseas markets. The Twitter chats will also provide an opportunity for firms to ask questions and connect directly with the U.S. government agencies that support President Obama’s National Export Initiative (NEI) and BusinessUSA.gov – a new one-stop resource for small businesses and exporters.

Schedule and topics:

Thursday, May 9^th at 2:00pm EDT: Export Opportunities

Information about export assistance, international business partnership programs, match-making, and market research will be shared. U.S. companies will also learn about the new BusinessUSA.gov website and how this one-stop resource can help businesses begin exporting or increase their exports.

Thursday, May 16^th at 2:00pm EDT: Financing

Export financing is often a key factor in a successful sale. U.S. companies should be aware of the many financing options available from U.S. government agencies to assist them with the export and trade process. This Twitter chat will provide firms with more information about the available financing options, including buyer financing, insuring foreign receivables, and working capital loans and guarantees.

Thursday, May 23^rd at 2:00pm EDT: Training and Travel Opportunities

U.S. government agencies often host training, webinars, workshops, seminars, trade missions and trade fairs for U.S. companies interested in doing business overseas. This Twitter chat will provide firms with the knowledge they need to utilize these resources and events and connect directly with foreign buyers.

Joining the discussion

To participate, at the starting time, sign into your Twitter account and submit a question on the topic using hashtag #TradeChat. Agencies will respond to as many Tweets and questions on the topic as possible. Questions can also be submitted in advance using the online form on http://www.ustda.gov/TradeChat.

For information the Twitter chat series, visit http://www.ustda.gov/TradeChat . A live feed of the chats will be broadcasted and archived on USTDA’s website for individuals who are not connected to Twitter.

Highlights from the Twitter chat series will also be available on Storify at

http://storify.com/USTDA/2013-world-trade-month-twitter-chat-series

Participating Agencies and Organizations

The U.S. Trade and Development Agency
International Trade Administration
Small Business Administration
BusinessUSA
Overseas Private Investment Corporation
Export-Import Bank of the United States
The Office of the U.S. Trade Representative
D epartment of State

Hurricane Sandy Update-- Six months later, A Steady Recovery

James Rivera — Fri, 26 Apr 2013 21:07:40 +0000

It’s been six months since Hurricane Sandy struck the East Coast and signs of recovery are emerging. Businesses are reopening, homeowners are rebuilding and communities are rebounding. I’m proud to say that the SBA, together with our federal partners, stepped-up to provide assistance to those affected by Sandy. SBA has approved more than 34,000 disaster loan applications for a dollar total of $2.2 billion – making Hurricane Sandy the third largest natural disaster in terms of SBA disaster lending in U.S. history.

One of these loans went to IceStone, LLC, a Brooklyn-based company that makes counter tops from recycled glass and cement. The five feet of salt water that flooded the 55,000 square-foot factory when Hurricane Sandy passed through New York destroyed machinery worth hundreds of thousands of dollars. After deciding not to close the business, IceStone CEO Dal LaMagna applied for an SBA disaster loan. Despite the massive volume of applications the SBA was handling during the early recovery phase, “the employees at the SBA were still able and willing to respond rapidly at each of the stages of processing, approving, and funding our application,” LaMagna said.

By April, IceStone’s $988 thousand dollar loan was fully disbursed, and within days LaMagna and his 127 employees were back in the factory building countertops.

The deadline for homeowners, renters, businesses of all sizes and private nonprofit organizations in New Jersey to apply for an SBA disaster loan for physical damages caused by Hurricane Sandy is May 1. Visit SBA’s Hurricane Sandy website for more information.

Our disaster recovery efforts haven’t just included loans to homeowners and businesses. Nineteen million dollars in grants will be delivered to our resource partners to expand counseling and training services for small businesses and SBA has played an integral role in awarding $190 million dollars in government contacts to small businesses involved in the Hurricane Sandy recovery. Through these additional means, we will continue to help those individuals and communities affected by Hurricane Sandy rebuild stronger and provide support for long-term recovery.

SBA Resource Partners Support Small Business Recovery

Small businesses recovering from the physical and economic impact of Hurricane Sandy can get both immediate and long-term help from SBA’s resource partners—the Small Business Development Centers, (SBDCs), SCORE, and Women’s Business Centers (WBC’s), through expanded services provided by a $19 million funding package approved by Congress.

$5.8 million has already been made available to SBA’s resources partners in the areas impacted by Hurricane Sandy to immediately ramp up existing counseling and training services. Our partners play a critical role in fostering economic development in those areas hard-hit, and businesses are encouraged to take advantage of the services.

SBA resource partners can now apply for an additional $13.1 million to provide long-term small business recovery, expansion and rebuilding strategies through innovative collaborative approaches between state and local community-based partnerships. This new process for building local recovery frameworks will help to integrate local economic recovery efforts and improve efficiency of services.

SBA resource partners interested in leading the recovery efforts from the second phase of funding have until June 5, 2013 to respond to the related request for proposal, Hurricane Sandy Disaster Relief Program Announcement (# OED 2013-002), which is posted to Grants.gov.

Government Contracting

So far $190 million dollars in government contacts have been awarded to small businesses involved in the Hurricane Sandy recovery. That means 28 percent of the federal contacting award dollars have gone to small businesses, with 17 percent of that total going to small businesses in New York and New Jersey.

Connect Atlanta: Building Robust Small Business Supply Chains

ngoriel — Wed, 24 Apr 2013 18:25:46 +0000

NOTE: This blog is by Cassius Butts, SBA Regional Administrator

Being a supplier to a large business is a game changer. But, we know that small businesses often lack the capital, skills and access to market opportunities to be effective suppliers. We want to change that!

That’s why the U.S. Small Business Administration (SBA) launched the American Supplier Initiative, a federal government-wide initiative designed to increase government and commercial supply chain opportunities for small firms. This is important because small businesses who are suppliers to large corporations reported revenue growth of more than 250 percent and employment increased by more than 150 percent on average.

As a part of the American Supplier Initiative, the U.S. Small Business Administration is holding a series of supply chain events, in collaboration with federal agencies and private companies, throughout the country to provide the tools and resources needed for small businesses to become effective suppliers. And we want to make connecting your business to large companies easier and more efficient. The first of these events will be held in Atlanta, GA, on May 20^th. Here are the details. We hope to see you there.

WHAT: Connect Atlanta

WHERE: Martin Luther King, Jr. Federal Building

77 Forsyth Street SW, Atlanta, GA, 30303

WHEN: Monday, May 20^th, 2013, 10:00am – 5:30pm

For More Information and to RSVP: https://atlanta.mybusinessmatches.com/

ChallengeHER: Creating Procurement Access and Opportunity for Women-Owned Small Businesses

Marie Johns — Tue, 23 Apr 2013 17:34:23 +0000

Federal contracting with small businesses is a win-win. Every year, the U.S. government awards nearly $100 billion in federal contracts to small businesses, allowing these businesses to grow their revenues and create jobs right here at home. Meanwhile, the federal government gets the chance to work with some of the most responsive, innovative and nimble companies in the United States.

During the first three years of the Obama Administration, the federal government awarded $286.3 billion in federal contract dollars to small businesses—a $32 billion increase over the three preceding years, even as contracting spending overall has declined across the federal government.

Across the board, the Obama Administration and U.S. Small Business Administration (SBA) are committed to providing access and removing barriers for small, minority, women-owned, and disadvantaged businesses by changing the process and the culture surrounding federal contracting.

We’re proud of our achievements so far in implementing the Woman Owned Small Business Federal Contract Program and we are making strides in bringing more women-owned firms into the federal government’s supply chain.

Today, I had the opportunity to announce our latest efforts to engage women-owned small businesses in the federal procurement process at the Women-Owned Small Business (WOSB) Opportunity Forum Luncheon presented by SBA, Women Impacting Public Policy (WIPP), and American Express OPEN, here in Washington, D.C.

The ChallengeHER Campaign is an exciting new initiative that leverages the resources of SBA, WIPP, and American Express OPEN to promote the Women-Owned Small Business Federal Contract Program and bring more women-owned firms into the federal government’s supply chain.

In the coming months, we’ll be hosting ChallengeHER events across the country to help women business owners better understand the procurement opportunities available from the federal government, including events in:

Phoenix, AZ;
Seattle, WA;
New Orleans, LA;
Denver, CO;
Atlanta, GA;
San Francisco, CA; and,
New York, NY.

At these events, we’ll also be playing “matchmaker”—connecting women-owned small businesses with the decision-makers and contract opportunities housed by our federal partners, both at the national level and in their local communities. And by increasing our family of women-owned small businesses, government contracting officers will have a broader base to consider when making their purchasing decisions.

We’ll also be training women-owned small businesses on how to register in our System for Award Management, which serves as our government contracting portal for all small business owners that want to do business with the federal government, and learn about eligibility requirements for the Women-Owned Small Business Federal Contract Program, which allows contract set asides for women-owned small businesses in certain industries.

A robust supply chain of innovative small businesses makes our country more globally competitive, encourages more corporations to bring production back to the U.S., and helps create jobs here at home. Our goal, and the goal of the ChallengeHER Campaign, is to ensure that women-owned small businesses across the country have the access and opportunity they need to succeed.

Stay tuned for further information on the ChallengeHER Campaign and events near you.

40th Annual World Trade Day Celebration, May 16, 2013, Denver, Colorado

Dario Gomez — Fri, 19 Apr 2013 21:10:41 +0000

Plug In to the Global Economy: How Technology Impacts Trade

How does technology impact international trade? And how can it help your small business? This year’s 40th Annual World Trade Day on Thursday, May 16, 2013 gives businesses the chance to ask just that and to discover how recent innovations in technology can facilitate their operations and bolster their bottom line. From supply-chain management to social media marketing and team collaboration, there are a multitude of new technology tools that allow small businesses to do more across the globe than ever before.

Also at this event, look out for:

An in-room valuable networking opportunity with nearly 500 international business professionals highlighting the value of technology tools for international trade and business;
Speeches from Michael Dreyer, Chief Information Officer of Visa and Yuri Aguiar, Chief Information Officer of Ogilvy & Mather Worldwide;
Engage in the day-long techXpo, where companies will demonstrate their tools for your learning and benefit;
SBA’s Exporter of the Year will be announced to recognize the country’s most outstanding small business exporter;
SBA’s Export Video Contest Winner, presented in partnership with Visa and the National Export Initiative, will award monetary prizes to five successful small business exporters representing a variety of industries.

To attend or register for the event, go to: www.wtcdenver.org. For more information, write to: Jordan.Valdes@sba.gov.

Date: May 16, 2013
Time: 8 a.m.- 6:30 p.m.
Location: Infinity Park Event Center, Glendale, Colorado

SBA’s Guide to Going Green

Michael Chodos — Fri, 19 Apr 2013 20:51:31 +0000

Going green isn’t just good for the environment—it can be great for your business as well! Companies known for proactive environmental policies often find that their reputation as a green business allows them to better attract and retain high quality employees, improve community relations, and strengthen customer loyalty.

This Earth Day, the U.S. Small Business Administration (SBA) is here to help you learn how to “green your business” and work toward creating a cleaner, healthier environment for our communities and for our planet. We’ve updated our Green Business Guide for 2013 with the latest tips on what you as a small business owner can do to protect our ecosystems and promote a sustainable, successful business.

Green Business Practices

From changing a light bulb and using recyclable products to installing energy efficient equipment and systems, every business can make simple changes that save energy costs and natural resources. Start by brainstorming a variety of options to reduce your business’s environmental footprint, then choose the most impactful and cost effective options for your business. For additional tips on ways to green your business, our partners at SCORE also offer a number of resources. If you’re interested in getting into the business of helping others get green, SBA has also produced an online training course on how your business can take advantage of these eco-trends.

Environmental Grants & Loans

There are a number of financial resources currently available that may help you to pay for energy efficient upgrades to your facilities, to finance your business’s innovative environmental products and technologies and to support your environmentally friendly business. You can search grants.gov by category to see grant applications related to energy, environmental topics, natural resources, transportation, science and technology, agriculture and disaster prevention and relief.

Additionally, many of our federal partners including the Department of Energy, the Environmental Protection Agency, the National Science Foundation and the U.S. Department of Agriculture have funding opportunities available that are specifically designed for businesses interested in making their operations more sustainable and eco-friendly.

Green Marketing

If you’re already competitive in terms of price, quality and performance, adding sustainability and green marketing to your business strategy is one way to enhance your brand and engage with the growing numbers of environmentally-concerned consumers in your community. Before you start a green marketing campaign, be sure to check that the claims you make about the environmental attributes of your products are in keeping with the Federal Trade Commission’s guidance . You can also have your product certified by a third party. Once certified, use the ecolabels from the certifying organizations to help consumers make educated choices.

Earth Day is a great reminder of the many opportunities for small businesses to grow and innovate, while also creating a stronger and more sustainable economy. To learn more about ways to make your small business greener, click here.

Learn How to Become an Entrepreneur at Age+ 50 during National Mentor Month

Michael Chodos — Tue, 16 Apr 2013 17:17:46 +0000

Entrepreneurs over the age of 50 are one of the fastest growing groups of new business owners. For age 50+ individuals, also known as encore entrepreneurs, starting a small business offers an opportunity to use your knowledge and experience gained during your career toward creating a new business that can be rewarding in many ways.

If you’re ready to embark on your journey to become an entrepreneur or want to learn how you can grow your existing business, now is a great time to explore your options and SBA is here to help. This April SBA and AARP are hosting National Encore Entrepreneur Mentor Month. To find local events taking place near you, visit www.sba.gov/mentormonth for details.

Our goal is to connect 100,000 encore entrepreneurs with small business assistance including speed mentoring, workshops and other programs to help encore entrepreneurs to start or grow small businesses. SBA’s District Offices, state AARP Offices and SBA’s network of SCORE, Small Business Development Centers and Women’s Business Centers are offering more than 100 events around the country.

SBA and AARP also hosted free webinars and you may easily access the topics for download,

Is Starting a Small Business Right for You? and Expand Your Small Business in 10 Steps.

For more encore entrepreneurship information, visit www.sba.gov/encore and www.aarp.org/workresources.

You’ll also find a number of tools right here on our website to help you, including SBA’s online small business learning center that offers free courses on how to start your own business and a course designed for women entrepreneurs over the age of 50.

We look forward to seeing you at Mentor Month events and encourage you to visit with our mentors and counselors, as well as explore SBA’s online tools to help you to build your own small business.

US Global Business Solutions: US Government Solutions for Small Business Exporters

Dennis Chrisbaum — Tue, 02 Apr 2013 18:00:43 +0000

When the President challenged the nation to double exports in five years, U.S. government agencies started working more closely together to make it easier for businesses to access foreign market opportunities and for lenders to provide the financing that exporters need.

Under a new, multi-agency initiative, several federal agencies are collaborating to combine their trade financing programs and export marketing services into a one-stop platform: U.S. Global Business Solutions, a new approach for assessing and meeting the business needs of small business exporters. US-GBS will be launched at the 6^th Annual SBA Export Lenders’ Roundtable, April 3, in Washington, D.C.

This new initiative will:

Reduce complexity for both exporters and lenders by packaging trade financing and marketing options that seamlessly meet exporter needs;
Simplify marketing materials, while increasing lender training to meet the needs of financial institutions; and,
Streamline access to international experts, financial products, and business services for exporters.

As businesses of all sizes increasingly recognize the opportunities for selling products and services abroad, lenders will be remain a critical partner in their expansion plans. Now is a great time to learn how to continue to support your customers as they expand their sales into global markets, while mitigating some of the real, and perceived, risk with US government guarantees and insurance.

If you are unable to attend the SBA’s Export Lenders Roundtable, please contact the SBA representative in your local U.S. Export Assistance Center. For a directory, go to: http://www.sba.gov/content/us-exports-assistance-centers. This program is open to lenders only. Please send inquires and RSVPs to: Danielle.Wilsey@sba.gov.

Date: Wednesday, April 3, 2013

Time: 8:30-1:00 p.m.

Location: Ronald Reagan Building and International Trade Center

13th St. and Pennsylvania Ave., NW

Washington, D.C.

(Federal Triangle Metro Station)

Need Exporting Assistance? Small Business Development Centers Can Help

Stephen Sullivan — Fri, 29 Mar 2013 17:25:36 +0000

Have you considered the potential for selling your products or services outside the U.S.? Your local Small Business Development Center (SBDC), an SBA resource partner, can help you get started.

The many international trade services offered by individual SBDCs vary, but most often include:

Product/Service Readiness: Determine if your products or services are suitable for export, and what product adaptations may be required.
Export Readiness: Learn if your company meets the key export readiness factors or, what you need to do to become ready.
Market Research: Review possible trade barriers, political and economic risks and competitors, in order to identify and rank the best foreign market opportunities.
Documentation/Compliance: Learn how to comply with export regulations, product classification, in-country governmental requirements and the effective use of freight forwarders.
Trade Finance: Learn how the trade finance programs of the SBA, the Export-Import Bank of the U.S. and the Overseas Private Investment Corporation may help you.
Partner Identification: Get connected to potential sales with U.S. Commercial Service services such as Gold Key or International Partner Search. SBDCs can also advise you of individual state trade assistance programs and incentives.
Specialized Areas: Some SBDCs offer assistance in specialized areas such as product certification (i.e. CE Mark, CCC, etc.).

If you think you have a product or service with foreign trade potential, or are already exporting and want to grow those sales, contact your local SBDC for assistance.

How to Finance Your Export Sales

Dennis Chrisbaum — Thu, 28 Mar 2013 23:42:08 +0000

As I covered in my pervious blog, How to Get Paid for Your Export Sales, each of the four international methods of payments which include cash-in-advance, letter-of-credit, documentary collections and open account can have an impact on your company’s financing needs when filling overseas orders. Those needs can be broken down into either pre-shipment or post-shipment working capital.

Pre-Shipment: If you receive a purchase order from a foreign buyer, you will have a pre-shipment working capital need (the funds to hire labor, buy supplies and materials, etc., to produce the order):

unless you require cash-in-advance before you start production; and/or
you receive progress payments throughout the production cycle.

If your payment terms are simply cash-in-advance prior to shipment, or even a letter-of-credit that is payable upon shipment, you will still need to fund the entire pre-shipment production cycle. Will your order be produced in 15 or 30 days, or is it a customized piece of equipment that takes nine months to build? The pre-shipment working capital need could be substantial depending on the size of the order and the production cycle.

Post-Shipment: If you don’t get paid upon shipment, you will need to carry accounts receivable on your books. Maybe you have enough working capital to produce a short production cycle order, but you have to offer 90-day terms to the buyer in order to secure the contract. You will need to keep your business moving during that time, which will require working capital to support the foreign A/R.

You might be able to factor the accounts receivable, or you could insure them through a private insurance company or the Export-Import Bank of the U.S. which will move the risk from what may be an unknown foreign buyer to the U.S. government or larger insurer, allowing you to borrow against the insured overseas A/R.

How can you finance your pre-shipment and/or post-shipment export working capital needs? The SBA has three loan programs that may work for you:

Export Express has a $500,000 maximum and is ideal for new exporters or those with relatively small orders;
Export Working Capital Program has a $5,000,000 maximum which may only be used to finance export transactions—from purchase order to collections; and
CAPlines has a $5,000,000 maximum which is a revolving line of credit that can support both domestic A/R and insured foreign A/R.

Visit www.sba.gov/oit for a list of lenders active in these programs. You also will find a listing for SBA’s trade finance specialists located in 19 U.S. Export Assistance Centers across the country who can provide additional information on export financing questions.

How to Get Paid for Your Export Sales

Dennis Chrisbaum — Wed, 27 Mar 2013 23:57:46 +0000

Ultimately, any sale is a gift until you get paid. However, understanding how to get paid for an export sale is especially important, since your buyer could be 10,000 miles away. There are four common ways to get paid for an international order. From the most, to the least, secure method of payment for the exporter, these are:

1. Cash-in-advance- New exporters frequently request this method. Their attitude typically is, “I don’t know you very well, but if you send me the money I’ll send you the goods.”

Advantage: The exporter gets paid before the shipment leaves the U.S.
Buyer’s Perspective: It is high risk. The money is gone with only the exporter’s promise to deliver.
Drawback: It limits the exporter’s sales potential; is non-competitive; and ties up the importer’s cash.

2. Letter-of-credit- Letters of credit (L/C) substitute the creditworthiness of the importer and exporter with that of their respective banks.

Advantage: The exporter will be paid if the terms and conditions of the L/C are met.
Buyer’s Perspective: The funds won’t be released until shipment is made and terms are met.
Drawback: There are fees associated with opening and amending L/C; the importer’s cash is tied-up.

3. Documentary collections- This method uses the banking system to send documents to the importer.

Advantage: The goods are not released until importer pays or agrees to pay.
Buyer’s perspective: Payment is delayed until goods are close to being delivered.
Drawback: No guaranty of payment; banks only act as intermediaries.

4. Open account- Open account terms for international sales are similar to domestic open account sales. The buyer agrees to pay in a set number of days—typically 30, 60, or 90—from the invoice, shipment or delivery date.

Advantage: More competitive terms which can help secure larger orders.
Buyer’s perspective: May allow the buyer time to sell the goods prior to payment; does not tie up importer’s cash.
Drawback: The goods are gone and the buyer might not pay. This risk can be greatly reduced by obtaining credit insurance from the Export-Import Bank of the U.S. on the foreign accounts receivable. Cost can be minimal, viz. about 65 cents per $100 of the invoiced amount for a policy that provides 95% coverage. Visit www.exim.gov for details.

Webinar on Cash Flow Management for 8(a) and HUBZone Firms

TiffaniC — Thu, 21 Mar 2013 19:51:27 +0000

Are you a small business certified in the U.S. Small Business Administration’s (SBA) 8(a) Business Development or Historically Underutilized Business (HUB) Zone program interested in learning how to better manage your business relationships?

If so, you’ll be happy to know that the SBA is teaming up with Experian’s Business Information Services, the leading global information services provider, to launch BusinessIQ ExpressSM, an online cash flow management tool for small businesses certified in SBA’s 8(a) Program and HUBZone certified-firms.

The webinar will take place on April 2, 2013, from 2:00 – 3:00 p.m. EST, to help educate firms in SBA’s 8(a) Business Development and HUBZone programs on how can help to manage business relationships.

All 8(a) and HUBZone firms can register for the event at: http://event.on24.com/r.htm?e=592082&s=1&k=9EBFCA1FFEF608DF520915F788868AE7.

BusinessIQ Express is an online cash flow management tool that provides small businesses with the resources to make quick and informed decisions on prospective customers’ ability to pay by providing insight on the financial health of the business.

The online tool will help small business owners to:

evaluate prospective customers’ and suppliers’ ability to pay;
monitor business relationships with alerts and notifications of key changes; and
collect outstanding debts and avoid future losses.

The 8(a) Business Development program is a nine-year program which provides socially and economically disadvantaged firms access to government contracting opportunities and specialized business training and counseling to help them become viable competitors in the federal marketplace.

The HUBZone program helps small businesses located in economically depressed areas and urban and rural communities with high unemployment get contract assistance and promote job growth and economic development in their communities.

Women’s History Month: A Bright Future For Women-Owned Small Businesses

Karen Mills — Mon, 11 Mar 2013 16:29:49 +0000

Today, women-owned businesses are the fastest-growing segment of new businesses in our economy.

In fact, an analysis by American Express suggests that the number of women-owned businesses has risen by 200,000 over the past year alone, which is equivalent to just under 550 new women-owned firms created each day.

Regardless of how you slice the data, we know that this trend is growing and that women are over-indexing in entrepreneurship.

As Administrator of the U.S. Small Business Administration (SBA), I travel all around the country meeting with small business owners and entrepreneurs. I see how their businesses are transforming their industries and rebuilding their communities following the economic downturn.

These are businesses like UEC Electronics in South Carolina. Rebecca Ufkes, an engineer and the company’s president, is laser focused on growing her successful electronics manufacturing business. She is supplying products to major manufacturers, such as Boeing, Cummins Engine Co, as well as the U.S. Marines and Air Force. And she is creating good American manufacturing jobs in the process.

UEC employs 194 workers, an increase of 49 percent since August 2011. And Rebecca is part of a growing American supply chain of innovative small businesses that is driving large multinational manufacturers to bring more production back to the U.S.

However, today, many women-owned entrepreneurs face what we call the “missing middle.”

For example, take my home state of Maine. According to the most recent census data, men owned 54 percent of businesses in Maine and women owned 26 percent of businesses in the state (the remaining were co-owned). However, when you look at the receipts of these businesses, women-owned businesses lagged behind, capturing only 7 percent of receipts, compared to 78 percent of receipts earned by men-owned firms. There is a similar trend occurring in states across the country.

Clearly, women-owned firms are growing greater in numbers, but challenges persist in scaling their operations and garnering market share.

At the SBA, we have the proven tools needed to bridge that missing middle. And to ensure that all entrepreneurs have the tools they need to grow their businesses, reach new markets and realize their full potential.

Access to Capital

According to the Urban Institute, SBA loans are 3 to 5 times more likely to go to women and minority owned businesses than conventional loans. And since President Obama took office, SBA has supported more than $12 billion in lending through more than 35,000 SBA loans to women-owned businesses.

Contracting

At the SBA, one of our priorities is making sure that more qualified women-owned, veteran-owned and minority-owned small businesses have access to government and commercial supply chain opportunities. That’s why we put into place the Women's Contracting Rule, which means that for the first time federal agencies can set aside contracting opportunities for women-owned small businesses in over 300 industries where women are underrepresented. Congress gave SBA this authority in 2000, but it was never implemented. Under President Obama’s leadership, we have made it a priority—and have gotten it done. And recently we expanded the limits to ensure that women-owned businesses are eligible for larger government contracts.

Counseling

Our Office of Women’s Business Ownership oversees a national network of 106 Women’s Business Centers (WBCs) that support women who want to start or grow their business. We’re connecting with more women every day and, in FY 2012 alone, we counseled and trained more than 136,000 women entrepreneurs.

This month, as part of Women’s History Month, we’re excited to announce another new counseling resource called “Encore Entrepreneurship for Women: An Introduction to Starting Your Own Business.” It is designed specifically for female “encore entrepreneurs,” who are over the age of 50 and ready to start a business as the next chapter of their careers.

We are committed to helping women entrepreneurs because we know how much potential they have to contribute to America’s economic growth. To learn more about how SBA can help your business, visit www.sba.gov.

What's Your Feedback for Startup University?

Stephen Morris — Thu, 07 Mar 2013 22:52:47 +0000

Last year the Small Business Administration held a series of regional roundtables with accelerators and universities, and one of the major takeaways was that universities could use a dedicated forum to discuss best practices and build new connections between academia and startup entrepreneurs.

Based off this feedback, the SBA and Department of Commerce created Startup University as a forum for educators and entrepreneurs like you to vote, comment, add provide feedback, but we need your help!

Visit our new Startup University website and tell us what you are seeing:

Vote: Which initiatives stand out to you? Vote on your top 5 success stories and tell us if these programs should be replicated elsewhere.

Add Your Own– How you have promoted innovation and entrepreneurship on campus and in the community? What can be done to replicate your success, or learn from past mistakes?

Sharing is Caring- Is someone in your community is doing something that should be recognized? Spread the word then check back on March 21^st as we presented the results at the NCET2 Conference!

Tweet This: What are the best university and #smallbiz #startup programs? Tell @SBAgov here: http://bit.ly/startupu

What can universities and #smallbiz do to support high growth #startups? Tell @SBAgov here: http://bit.ly/startupu

Post on Facebook: What can universities and Small Businesses do to support high growth startups? http://bit.ly/startupu

Share on LinkedIn: How can universities and businesses really support high-growth startup companies?

Conozca a Angelique Adjutant, Oficial de Relaciones Públicas en la Oficina de Distrito de Puerto Rico e Islas Vírgenes

AshleyC — Thu, 07 Mar 2013 15:04:14 +0000

Cuando un amigo o familiar te pregunta qué haces para ayudar a las pequeñas empresas, ¿qué les dices?

Les digo que soy responsable de fortalecer la presencia de SBA en la comunidad, para que otros puedan realizar sus sueños de independencia económica, de crear empleos y proveer para miles de familias. La SBA tiene una misión extraordinaria que siempre respaldaré.

De todas las cosas que la SBA hace para las pequeñas empresas, ¿cuál es tu favorita?

Tendría que ser la creación de oportunidades. Oportunidades de aprendizaje, mejoramiento, crecimiento y éxito para los pequeños empresarios.

¿Existe una “historia de éxito” de alguna pequeña empresa en particular que te venga a la mente cuando piensas cómo la SBA ayuda a las personas?

Me vienen a la mente muchos empresarios exitosos, y me siento afortunada de haber podido conocerles y contar sus historias. Pero si tuviera que escoger sólo una, sería la de Jatniel Vázquez, fundador y presidente de Jayvee Air Conditioning en Bayamón, Puerto Rico. De orígenes humildes, hoy Jatniel es dueño de una exitosa empresa dedicada a sistemas de aire acondicionado industriales y comerciales que genera más de $2 millones en ventas anuales; emplea a más de 15 personas, le paga la carrera de Ingeniería a su hermana, emplea a miembros de su familia y le compró a su madre la casa de sus sueños. ¡Y todo eso antes de cumplir 30 años! Jatniel se benefició de los programas de préstamos garantizados de SBA para expandir su negocio y crear empleos.

¿Tienes algún consejo para empresarios y dueños de pequeñas empresas en general?

Empieza pequeño pero siempre piensa en grande.

¿Algo más que desees añadir?

Sí. Como en todo lo demás, la perseverancia es crítica en el alcance de los sueños de cualquier persona. Para citar a Winston Churchill, “nunca te des por vencido, nunca, jamás”.

SBA Expands Efforts to Grow Native American Small Businesses

Christopher James — Thu, 07 Mar 2013 00:46:08 +0000

The importance of privately owned businesses plays a significant role in economic development in our Native American communities. That is why SBA provides tools to encourage our Native American entrepreneurs to build sustainable businesses that create jobs and grow economies. I am very excited to announce the Native American Communities Entrepreneurial Empowerment Outreach Training targeted to our American Indian, Alaska Native and Native Hawaiians communities.

SBA’s Office of Native American Affairs has organized the training to reach rural and reservation communities to encourage entrepreneurship, business development and job creation. Along with Redwind Consulting Resources and the Oregon Native American Business Enterprise Network (ONABEN), 23 two-day training sessions will be held this year across the U.S. (six workshops have already been held).

Future workshops will be held in Native American communities in Oklahoma, Washington, Nebraska, Texas, Florida, California, North Carolina, Wyoming, Montana, Oregon, South Dakota, Arizona, North Dakota, Minnesota, Colorado, and with organizations serving Native Hawaiians and Alaska Natives.

The training curriculum, called Indianprenurship, has been created on the foundation of the combined experience of many instructors, students, and mentors. It will serve participants well as they create the “Indianpreneurship Experience”. This experience is based on a few fundamental business principles and a philosophy that has grown out of efforts of individuals who are committed to helping Native American entrepreneurs succeed in business.

SBA has designed the entrepreneurship training to grow Native-owned small businesses, and we will continue our efforts to increase the agency’s Native American outreach initiatives.

Last year, more than 160 participants received small business development training at eight training events that extended across five states, including Oklahoma, California, Texas, South Dakota and Washington. Nearly 150 hours of training and post technical assistance was provided to Native American communities.

I am equally excited that the 2013 Emerging Leaders initiative (known as e200) has also been announced. For the sixth consecutive year, SBA is looking for small businesses to partake in this highly successful Emerging Leaders executive-level training initiative that provides the tools they need to sustain and grow their businesses, including 10 Native American communities. The Emerging Leaders initiative is an intensive training program for small companies that have the potential for quick growth and job creation.

Since 2008 the initiative has trained more than 1,300 promising small business owners in underserved communities, and continues to expand its impact helping small businesses grow and create jobs.

The seven-month executive leader curriculum includes almost 100 hours of classroom time for every small business participant and provides the opportunity for small business owners to work with experienced mentors, attend workshops, and develop connections with their peers, city leaders, and financial communities.

The 10 cities providing Emerging Leaders classes for Native American communities are Albuquerque, N.M.; Helena, Mont.; Farmington, N.M.; Honolulu, Hawaii; Milwaukee, Wis.; Phoenix, Ariz.; Oklahoma City, Okla.; Portland, Ore.; Seattle, Wash.; and Tulsa, Okla.

Local recruitment for the 2013 training cycle is now underway at SBA district offices, and classes are scheduled to begin in April. For a list of participating cities and to get more information about the Emerging Leaders initiative, go to www.sba.gov/emergingleaders or contact your local SBA District Office in that area.

More than 300 businesses have graduated from the program since it was expanded to Native American communities in 2010.

One such graduate is Michele Justice, the owner of Personnel Security Consultants Inc. (PSC), a Native-owned security firm in Albuquerque, N.M., which got its start in 2004. This 2012 Emerging 200 graduate now employs 18. The security firm acts as a liaison between the Bureau of Indian Affairs and the FBI, helping tribes obtain required fingerprint records for FBI criminal history searches. The firm also works with more than 280 tribes and tribal programs, casinos and the Los Alamos National Laboratory. Justice was the SBA’s New Mexico State Small Business Winner of the Year in 2009.

At SBA, we’re working hard to increase and strengthen the number of successful Native-American owned businesses, and provide the tools they need to build strong businesses and create jobs.

Going forward in 2013, we will continue our focus to strengthen our education and training for Native American-owned businesses. And the Native American Communities Entrepreneurial Empowerment Outreach Training and the Emerging Leaders initiative will help us to do just that.

* See the Native American Communities Entrepreneurial Empowerment Outreach Training Schedule for 2013

Meet Angelique Adjutant, Public Affairs Specialist in Puerto Rico and USVI District Office

AshleyC — Tue, 05 Mar 2013 18:57:14 +0000

When a friend or family member asks what you do to help small businesses, what do you say?

I say that I am responsible for reinforcing SBA’s presence in the community, so that others may realize their dreams of financial independence, of starting a business of their own, of creating jobs and providing for thousands of families. The SBA has the most extraordinary mission – one I will always support.

What’s your favorite thing about what the SBA does for small businesses?

It would have to be the creation of opportunities. Opportunities for small business entrepreneurs to learn, improve, grow and succeed.

Is there a particular small business “success story” that comes to mind when you think about how the SBA helps people?

There are many successful small business owners that come to mind, and I am grateful to have been able to meet them and tell their stories. But if I had to choose only one, it would have to be Jatniel Vázquez, founder and president of Jayvee Air Conditioning in Bayamón, Puerto Rico. From very humble beginnings, today Jatniel owns a successful enterprise engaged in industrial and commercial air conditioning systems, generating more than $2 million in annual revenues; he employs over 15 people, provides for his younger sister’s education in Engineering, employs his family, and bought his mother the house of her dreams. And all this before turning 30! Jatniel took advantage of SBA loan programs to expand his business and create jobs.

Do you have any advice for entrepreneurs and small business owners out there?

Start small but always think big.

Anything else to add?

Yes. As with anything else, perseverance is critical to achieving one’s dreams. To quote Winston Churchill, “never, ever, ever, ever give up”.

Calling Small Business Exporters- Tell Us Your Story for a Chance to Win Cash Prizes

Dario Gomez — Mon, 25 Feb 2013 16:51:19 +0000

NOTE: The video submission deadline has been extended to April 22. Contest rules have also been updated.

Are you a small business exporter? Do you sell bowling balls to Bangladesh? Or dish towels to Delhi? Maybe you send laser technology to Lisbon? If you have a success story to tell about the goods or services you sell around the world and have used a federal government program or assistance to get there, the U.S. Small Business Administration and Visa Inc. (NYSE: V) are cosponsoring the “2013 SBA-Visa Export Video Contest” where your company will have the chance to win up to $10,000 just by sharing your story with other small business exporters on http://exportvideo.challenge.gov/.

Participating in the contest is easy and free: Among other requirements, the company must be a small business as determined by SBA’s size standards, have successfully completed at least one export transaction and used at least one federal program or service to support such transaction. In order to participate, contestants must register and create an account with www.challenge.gov, the contest portal that also will serve as repository for the video entries. For information on SBA size standards for small businesses, visit http://www.sba.gov/content/summary-size-standards-industry.

The videos must meet several criteria that include duration no longer than three minutes and a high-resolution format. Content must be educational, not promotional. A panel of judges chosen by SBA will select five videos to be awarded cash prizes directly by Visa, Inc.

The prizes are:

First place - $10,000
Second place - $8,000
Third place - $6,000
Fourth place - $4,000
Fifth place - $2,000

The contest is open from Feb. 25 to April 22 to small businesses in the U.S. and its territories, including the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and Guam. Winners will be announced no later than May 31, 2013.

For more information, submission procedures and requirements please visit http://exportvideo.challenge.gov/.

SBA Features New Tools During National Entrepreneurship Week

Michael Chodos — Thu, 21 Feb 2013 00:16:12 +0000

In conjunction with National Entrepreneurship Week (Feb 16-23, 2013), SBA is hosting a series of online briefings to discuss “crowdfunding” strategies for entrepreneurs. The series is comprised of daily webinars Feb 19-21 and a free online briefer to showcase innovative business financing opportunities.

Hosted by the Consortium for Entrepreneurship Education, National Entrepreneurship Week celebrates the origins of American entrepreneurship and promotes education for young entrepreneurs. Hundreds of schools, mentoring organizations, municipal government entities and distinguished volunteers partner with young entrepreneurs to support their interests and pursuits throughout the year. SBA’s mentor network offers the valuable resources of SCORE, Small Business Development Centers and Women’s Business Centers as they work hand-in-hand with local communities to ‘power’ the American dream of entrepreneurship. Join us in celebrating the work of these business coaches as they empower the next generation of leaders. You can find one of our counselors and mentors in your community at www.sba.gov, along with a host of online learning and other resources to help you start and grow your business. Just enter your zip code under “Local Assistance” and get started.

What is Crowdfunding?

The Jumpstart Our Business Startups Act (JOBS Act) encourages growth opportunities such as crowdfunding to help spur startups and job creation.

Crowdfunding brings together a network of investors who pool their financial resources to fund a start-up company. While peer-to-peer lending brings individuals together for the purpose of supplying and receiving small business loans, crowdfunding aggregates the financial resources of myriad individual investors. The Internet, especially social media sites and emerging platforms, allows rapid introduction and facilitation of crowdfunding investors to pool their resources for funding a small business.

Crowdsourcing.org reported that by the end of 2012, there were more than 530 crowdfunding platforms (CFPs), up over 60 percent from the numbers posted during 2011. The four primary crowdfunding categories that comprise CFPs include donation-based, reward-base, lending-based, and equity-based. As reported by USA Today, approximately $1.5 billion was raised by crowdfunding sites in 2011.

Crowdfunding may also create a strong support network for small business owners that may need assistance in areas outside of their business expertise. For example, a young entrepreneur owner who does not have marketing experience may benefit from the advice of a crowdfunding investor who has established a successful marketing career.

Featured Training

SBA’s crowdfunding webinars feature expert speakers offering practical tips and suggestions for immediate use. I encourage aspiring entrepreneurs and existing business owners to dial-in for this impressive series.

Our recently redesigned Online Learning Center offers a brand new e-briefer on crowdfunding. This learning portal is becoming a destination for users that seek to educate themselves on sound business practices and emerging trends impacting the small business marketplace.

The crowdfunding e-briefer promotes three objectives:

Define how crowdfunding helps young entrepreneurs
Describe each crowdfunding component
Share crowdfunding resources

So during National Entrepreneurship Week, personally thank a business mentor, participate in a webinar or our e-briefer, encourage a young entrepreneur and re-commit to supporting small businesses in your community.

SBA Looking For Emerging Leaders to Grow Their Small Businesses and Lift Underserved Communities

ngoriel — Thu, 14 Feb 2013 18:10:00 +0000

For the sixth consecutive year, the U.S. Small Business Administration is seeking small businesses to partake in its highly successful Emerging Leaders executive-level training initiative that provides them with the tools they need to sustain and grow their businesses.

Recruitment Underway

Local recruitment for the 2013 training cycle is underway now at SBA district offices, and classes are scheduled to begin in April. For a list of participating cities and to get more information about the Emerging Leaders initiative, go to www.sba.gov/emergingleaders or contact your local SBA District Office in that area.

Initiative is Growing

The initiative has expanded to some 27 cities and communities across the U.S. Since 2008 the Emerging Leaders initiative has helped more than 1,300 promising small business owners in underserved communities attend classes and graduate, increase their revenue, create jobs, and help drive local economic growth.

These training classes attract participants from all types of entrepreneurial disciplines and industries from all over the country, and are part of just one of many programs the SBA offers nationwide to help spark small business growth and create jobs. Watch this three-minute video that includes testimony by entrepreneurs who have benefitted from the initiative.

Showing Results

The Emerging Leaders initiative has been a catalyst for expanding opportunities for both urban small business owners and Native American communities. Sixty-seven percent of surveyed participants reported an increase in revenue, while 75 percent of those surveyed reported maintaining or creating new jobs in their communities. Surveyed participants also reported having secured more than $26 million in new financing for their businesses, and an increase in confidence when applying for government contracts. As a result, nearly half of the initiative graduates reported securing federal, state and local contracts, worth more than $330 million.

Educating and Training

The seven-month training includes approximately 100 hours of classroom time per participant and provides the opportunity for small business owners to work with experienced mentors, attend workshops and develop connections with their peers, city leaders, and financial communities. This year SBA will launch an Emerging Leaders alumni network to continue the business-to-business connection and continuous learning.

Igniting the Engine of Economic Growth

Karen Mills — Thu, 14 Feb 2013 16:41:00 +0000

Yesterday, I was in Memphis, Tenn., visiting the West Tennessee Ornamental Door Company, a thriving manufacturer of steel security doors, fences and gates for homes and businesses. The company received SBA loans to support the working capital needs of their business—and it’s now positioned for growth and to create more jobs.

As I walked the shop floor, talking with owner Jim Hoffa, it was hard not to be bullish about our economic potential and the role that America’s entrepreneurs and innovative small businesses play in our nation’s economic growth and long-term global competitiveness.

Entrepreneurs are at the heart of America’s identity and the key to our economic strength. They are what built the greatest economy in the world and the strongest middle class.

In his State of the Union address, President Obama laid out a series of strategic investments designed to strengthen America’s entrepreneurial infrastructure and to ensure that small business owners have the tools, resources, workforce and business environment they need to drive momentum, innovation and energy into our economy.

These include investing in skills training for American workers, strengthening our growing manufacturing sector and improving our nation’s aging infrastructure to make sure businesses in the U.S. have a competitive foundation from which to run their operations and to export to newly opened markets around the globe.

The President also built on his commitment to streamline and simplify the tax code for small businesses and to reduce the burden for tax compliance. It is part of broader efforts to make interacting with the federal government easier and more efficient for entrepreneurs and for businesses of all sizes. As the President said, “the American people deserve a tax code that helps small businesses spend less time filling out complicated forms, and more time expanding and hiring.”

President Obama also laid out a comprehensive plan to grow our nation’s manufacturing sector, which has created almost 500,000 jobs over the last three years, the most for any such period since 1996. The plan calls for creating a series of manufacturing innovation institutes that will help fuel regional innovation and create new business opportunities. These institutes will work closely with the Departments of Defense and Energy to create hubs for high-tech jobs and ensure, as the President said, “that the next revolution in manufacturing is Made in America.”

As part of these efforts, the SBA is working to build capacity in America’s small business supply chain. We know a strong, deep supply chain of innovative small businesses creates a competitive advantage for U.S.-based manufacturers—both large and small—and can drive decision-making around insourcing production back to the U.S. At the SBA, we are working with our partners across the federal government to ensure that small businesses have the tools they need to be effective suppliers and to scale their operations.

For example, West Tennessee Ornamental Doors, which I visited yesterday, used SBA assistance to expand their sales to businesses and customers nationwide. They also purchased a new facility which has given their business the room to grow, to eliminate inefficiencies, and to lay the groundwork for future expansion and hiring to meet customer demand. Today, the company’s product lines can be found in major home improvement chains, such as Lowe’s and Menards.

In his speech, the President also reiterated the need for Congress to pass legislation that creates an immigration system that works for American workers and businesses. Immigrants over-index in entrepreneurship and, as the President said, comprehensive immigration reform will allow us to “attract the highly-skilled entrepreneurs and engineers that will help create jobs and grow our economy.”

At the SBA, and across the Administration, we are making sure that small businesses and entrepreneurs can plug into opportunities across our growing economy by providing access to capital, to entrepreneurial skills training and to programs that connect small businesses to export markets around the globe and to business opportunities here at home.

One of the small business owners we’ve worked with was in the First Lady’s Box for the State of the Unions. Her name is Deb Carey, and she is the owner of New Glarus Brewing Company. Deb used an SBA 7(a) loan to help build and scale her business, and today she has more than 50 full-time employees. Her beer is so good that at a recent meeting with small business owners at the White House, the President made sure to share his White House homebrew to get her expert opinion.

By empowering small business owners like Deb, and expanding the entrepreneurial playing field to more regions of the country, we can ensure that the U.S. remains a magnet for jobs, talent and economic opportunity.

All across the country small business owners and entrepreneurs are ready to go on the offensive. They are ready to do what they do best: scale their operations and create good jobs. And the President laid out a broad-based economic growth agenda last night that will give them the tools, the skills and the workforce to make that possible.

Top Ten Reasons SBA is Sweet on Small Business

Karen Mills — Fri, 08 Feb 2013 21:47:13 +0000

It’s February—that time of year filled with candy hearts, boxes of chocolate, and the chance to let the people you love know exactly how you feel. While Cupid may be busy this Valentine’s day, we at the U.S. Small Business Administration are just as busy making sure that America’s small businesses know how much we care.

For SBA employees—from our national headquarters to our local offices around the country—helping America’s small businesses grow and thrive isn’t just our job; it’s our passion. And, even though we can’t send roses to the millions of small businesses that are helping strengthen the American economy year-round, we won’t blush to admit that this Valentine’s day (and every other day) the SBA is sweet on small business. Let us count the ways:

Between 1993 and 2011, small firms accounted for 64% of the net new jobs created in the United States.
Small businesses comprise 98 percent of America’s exporters and produce 33 percent of all export value.
Small businesses create more than 46 percent of the American nonfarm private gross domestic product (GDP).
Small businesses create 43 percent of all high-tech employment.
Home-based businesses account for 52 percent of all small businesses.
More than 7.8 million businesses are owned by women.
Veterans also own more than 3.7 million small businesses, and are at least 45 percent more likely to be self-employed in the private sector workforce than those with no active-duty military experience.
Small businesses received over $90 billion in Federal contracts in FY 2011.
Small, high-patenting firms produce 16 times more patents per employee than large patenting firms.
With approximately 28 million small businesses in the United States, employing 60 million Americans, small businesses employ half of the private sector workforce

Are you sweet on the small businesses in your community? Let us know by sending us a tweet using hashtag #SweetOnBiz.

SBA Celebrates Black History Month

Marie Johns — Thu, 07 Feb 2013 19:30:05 +0000

In February, America celebrates and remembers the important milestones highlighted during Black History Month. Throughout our nation’s history, we have been united and inspired by the uniquely American dream that every person, with hard work and dedication, has the potential to achieve remarkable things. During Black History Month, we particularly honor these brave men and women who sacrificed and strove to achieve a better future for the coming generations—people like my grandfather, an entrepreneur and business owner whose landscaping company became one of the first African American-owned firms in Indiana to win a state contract.

In 2013—150 years after President Lincoln issued the Emancipation Proclamation, and a mere 50 years after thousands of Americans came together in 1963 to march for equality in Washington, D.C.—minority-owned small businesses are one of the fastest-growing segments of our economy, and an engine of opportunity for millions of hard-working men and women in our communities.

This is why, at the SBA, we are committed to supporting minority-owned small businesses and underserved communities through programs such as the Small Loan Advantage program and Community Advantage lenders, which are helping to fill market gaps in smaller dollar loans and loans to underserved communities. These programs also open up SBA loan products to new mission-based and non-profit lenders.

In his proclamation declaring February, 2013 to be Black History Month, President Obama says that “we see yesterday's visionaries in tomorrow's leaders, reminding us that while we have yet to reach the mountaintop, we cannot stop climbing.” This month, as we honor the example of ordinary citizens who fought tirelessly for equal rights and opportunities, we reaffirm our shared commitment to helping individuals across this nation achieve the promise of the American dream.

Much Higher Surety Bond Guarantee Ceilings Enable Small Businesses to Bid on Larger Contracts and Grow

byrned — Wed, 06 Feb 2013 16:36:26 +0000

A major revision in the U.S. Small Business Administration’s Surety Bond Guarantee (SBG) Program more than triples the eligible contract amount, from $2 million to $6.5 million, the Agency will guarantee on surety bonds for both public and private contracts.

What does this mean for small businesses trying to grow?

A Los Angeles subcontractor for example, was looking to take on bigger jobs and grow its business, but needed a much larger bond to bid on and get a contract that was larger than past work it had performed.

As a direct result of higher SBA guaranteed bond limits, companies like that California contractor can now experience continued growth in bonding capacity, employ more employees and improve revenue streams. And with that kind of growth and resulting experience on bigger jobs, such companies can bid on more federal construction contracts, build an even stronger management team, and set strategic plans for bigger contracts and expansion into larger markets.

Contractors purchase surety bonds to guarantee that they will complete contracts. If the contractor fails to complete the contracted work, the surety bond is used to pay for completion. The SBA offers a guarantee of up to 90% on three types of surety bonds: bid bonds, which ensure that if a bidder wins a procurement competition the bidder will sign the contract; performance bonds, which ensure the contractor will complete the work as contracted; and payment bonds, which ensure that the contractor will pay its supplier and subcontractors.

These increases in bond capacity result from provisions in the Fiscal Year 2013 National Defense Authorization Act and are expected to bolster participation by surety bond agents and brokers and their surety companies in SBA’s SBG Program.

The changes also allow SBA to guarantee bonds for government contracts valued at up to $10 million if a contracting officer of a federal agency certifies that the guarantee is necessary for the small business to obtain bonding, and it is in the best interests of the government.

SBA partners with the surety industry to help small businesses that would otherwise be unable to obtain bonding in the traditional commercial marketplace; and now, with the increased capacity, that public/private cooperation helps these small businesses grow as well.

If your small business needs SBA assistance in locating a participating surety company or agent, and completing application forms, simply go online to http://www.sba.gov/osg/, or call 1-800-U-ASK-SBA.