NOTE: This blog is by Brian Castro, SBA National Ombudsman In May, the Office of the National Ombudsman joined SBA’s District Offices in celebrating our nation’s small business owners through a series of outreach events in Regions III and VII. In addition to honoring the Small Business Week Winners for Eastern Missouri at a ceremony and awards dinner in St. Louis, Region VII Regulatory Fairness Board Member Cynthia Brown and National Ombudsman Brian Castro hosted a roundtable discussion on the campus of Webster University to...
The U.S. Small Business Administration, along with President Obama, federal agencies, and private partners recognized National Small Business Week, May 12-16. During this time the true engines of the U.S. economy were celebrated: small businesses. With five eventful days of panel discussions, webinars, and networking opportunities, National Small Business Week (NSBW) kicked off at Twitter’s headquarters in San Francisco and ended with awards ceremonies honoring the accomplishments of state and national small businesses in Washington, DC...
Next month Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE) will host 200 female veterans and military spouses at a three-day conference to realize their goals of business ownership through education and training. The event, V-WISE’s 10th annual conference, will be hosted by the Institute for Veteran and Military Families (IVMF) at Syracuse University June 13-15 in New York City with support from the U.S. Small Business Administration (SBA). V-WISE is committed to women veterans by providing them the tools...
Addressing the criticality of U.S. exports, President Obama said, "The global economy is more integrated than ever... If we're going to grow, it's going to be because of exports." As the world's economic landscape expands at an unprecedented rate and burgeoning foreign markets seek U.S. products and services, it is vital that American small businesses recognize and leverage the endless export opportunities around the world. Simply put, exports fuel our economy. Since 2009: exports have driven nearly half of the...
The U.S. Small Business Administration is launching a $2.5 million competition for accelerators and other entrepreneurial ecosystem models to compete for monetary prizes of $50,000 each to fund operating budgets. To award the prizes, applicants will be judged by an expert panel that will consider each applicant's stated mission, founding team members and business goals among other core components. The application deadline is August 2, 2014. The panel will give particular attention to, and the SBA encourages, applicants that fill geographic...
This week, America’s celebrates the difference-makers in our economy as we kickoff National Small Business Week today at Twitter headquarters in San Francisco. You can watch the live stream of our kickoff event starting at 11:40 a.m. EST at www.sba.gov/nsbw. This year, we’re hosting events in San Francisco, Kansas City, Boston, and Washington D.C., as well as a special online forum on Wednesday. Our events, workshops and panels all week long will be live-streamed at www.sba.gov/nsbw. Friday we’ll announce our National...
One month ago, I took my oath and was given the opportunity of a lifetime to be a champion for America’s small businesses. In my first public statement after my swearing-in, I talked about my intention to support our job creators and build the U.S. economy from the middle out; to promote lending that reflects the diversity of America by getting capital to the areas that need it the most; and to use technology and best practices in customer service to make it easier for borrowers to borrow and lenders to lend. Then, I immediately embarked...
Each of the four international methods of payments, discussed previously, can have an impact on your company’s financing needs when filling overseas orders. Those can be broken down into either pre-shipment or post-shipment working capital needs. 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), assuming you don’t already have the goods in inventory. Two exceptions would...
If you are in business -any business- whether domestic or international, getting paid for your products or services is paramount to your business survival, growth and success. Ultimately, any sale is a gift until you get paid. So understanding how to get paid for an export sale is especially important, since your buyer could be 10,000 miles away. There are four basic ways to get paid for an international order. From the most, to the least, secure method of payment for the exporter, these are: Cash-in-advance. New exporters...
Recently, I participated in the 6th Annual National Hunger Seder at the U.S. Capitol. The event, organized by the Jewish Council for Public Affairs and MAZON, brought together Members of Congress, faith and community groups and other Administration officials for a model Passover Seder designed to raise awareness and inspire advocacy around the challenges facing seniors. At the SBA, we are committed to the empowerment of all Americans, including our support of senior Americans. Too many are facing challenges of economic insecurity. This month...
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