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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...
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...
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...
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...
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...
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,...
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...
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)...
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...
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...
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by Dario Gomez, SBA Official on Friday, April 19, 2013 - 17:10