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MBDA Webinars: We’ve Got You Covered -

Created on May 15, 2013
 

Getting the right information at the right time is a valuable advantage in business.  Being able to accomplish both while saving time and financial resources is priceless.  MBDA is excited to announce an ongoing series of web-based seminars that allow for business owners to explore opportunities, access current information on business trends, and connect with industry experts and peers.

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MBDA Business Center-Atlanta Launches Health IT Partnering Program -
Created on May 15, 2013
 

The Atlanta MBDA Business Center partnered with Georgia Tech’s Jobs and Innovation Accelerator project to create the Health IT Cluster Partnering Program. Launched in August 2012, the purpose of the program is to facilitate firms’ emergence into the Health information technology (IT) space with the end goal of measurable job creation and growth. With more than 40 MBDA client firms connected through an online community, continuous educational and business event programming, and business to business networking, the program has already experienced several successes.

In February, to build on the program’s momentum, a formal Health IT Teaming Program was launched.  The teaming program is solely focused on developing partnerships for members companies in order to pursue targeted opportunities in the public and private sector. After completing a rigorous application process, eight firms have joined the inaugural Health IT Teaming Program, they include: AdTech Service, Avion Systems, Diligent eSecurity, Global Resource Management, Inc., (GRMI) ICATT Consulting, QualityTech, Sciberusand TecMasters.

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President Obama Sends FY 2014 Budget to Congress -
Created on May 15, 2013
 

On April 10th President Obama sent to Congress a $3.78 trillion budget proposal. This budget boasts a strong investment in advanced manufacturing, innovation, and infrastructure. With every single program in this budget fully paid for, this proposal sustains itself without adding a dime to the deficit.  The FY 2014 President’s Budget, when combined with the deficit reduction already achieved, allows us to exceed the goal of $4 trillion in deficit reduction, while growing the economy and strengthening the middle class.

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Helping U.S. Companies Make Connections to Expand their Business Opportunities -
Created on May 15, 2013
 

David Hinson, National Director

At the end of last month, the Acting Secretary of Commerce Rebecca Blank announced the 20 companies that joined the infrastructure business development trade mission to Brazil, Colombia, and Panama.  The purpose of the trip is to promote U.S. exports by helping U.S. companies in infrastructure sectors to make the connections they need to expand their business opportunities in the three countries.  I am pleased to acknowledge that two of those companies – Integra Design Group, and the DeValle Group, are based in Puerto Rico and clients of the Puerto Rico MBDA Business Center.

Integra Design Group, an architecture and engineering firm, will be represented by Co-founder and Vice President Richard Cuebas Ramirez.  Integra Design Group Architects & Engineers was established in 2000 and ranks as Puerto Rico’s fourth largest architectural services firm according to Caribbean Book of ListsTM.   Integra Group is a conglomerate whose companies also provide construction management & management solutions.  Integra Group has numerous projects in Puerto Rico, Aruba and the Dominican Republic to its credit design. 

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Latin America Presents Growing Opportunities for American Companies -
Created on May 14, 2013
 

With 95 percent of the world’s consumers living outside U.S. borders, helping U.S. companies find partnerships and customers in fast-growing markets is crucial to creating a strong and vibrant economy built on good middle class jobs.

As a part of our overall goal to increase American exports, next week, 20 U.S.-based companies will join me on an infrastructure-focused trade mission to Sao Paulo, Brazil; Bogota, Colombia; and Panama City, Panama.  Each of the governments of these fast-growing countries have ambitious infrastructure expansion and improvement plans for the years ahead. 

This trade mission will allow U.S. companies to highlight their cutting-edge technologies and world-class engineering services. The trade mission will also allow them to make the personal connections they need to expand their businesses and it will build on President Obama’s National Export Initiative, a government-wide strategy to promote American exports and create 2 million export-supported jobs by the end of 2014. Last year, U.S. exports hit another all-time record, reaching $2.2 trillion.  Between 2009 and 2012, exports have supported 1.3 million additional jobs.

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Obama Administration Seeks Applicants for First Phase of 'Investing in Manufacturing Communities' Partnership -
Created on May 10, 2013
 

Effort will encourage an improved approach to economic development around the country

The Obama administration today announced that it is accepting applications for the first phase of the “Investing in Manufacturing Communities” Partnership, a new initiative outlined in the President’s fiscal year 2014 budget that will help accelerate the resurgence of manufacturing and create jobs across the country.

Phase One of the “Investing in Manufacturing Communities” Partnership: In the first phase of this effort, the Departments of Commerce and Agriculture as well as the Small Business Administration and Environmental Protection Agency will award at least 25 grants of up to $200,000 each to help regions develop long-term economic development strategies intended to create a globally competitive environment that will attract, retain and expand investment and spur international trade and exports. These “Implementation Strategies” will encourage collaboration at the local level to identify the region’s comparative advantages and assets, and plan investments to expand the area’s appeal to manufacturers.  In addition, these grants can be used to help communities prepare for the second phase of this initiative, IMCP “Challenge” grants.

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Sana International Commerce Awarded Ex-Im Bank Minority Business Exporter of the Year -
Created on May 6, 2013
 

Sana International Commerce Awarded Ex-Im Bank Minority Business Exporter of the YearSana International Commerce, Inc. (Sana International Commerce) received the Minority Business Exporter of the Year award from the Export-Import Bank of the United States (Ex-Im Bank). The award was presented at the Bank's 38th Annual Conference in Washington, D.C.

"By selling their products to customers overseas, Sana International Commerce has been able to drastically increase sales and sustain American jobs," said Ex-Im Bank Chairman and President Fred P. Hochberg. "I am proud that we supported a record level of exports by minority-owned businesses last year, and Ex-Im Bank remains committed to ensuring that business owners of all backgrounds have access to the financing they need to succeed."

"The support of the Ex-Im Bank has helped our company bloom," said SANA International Commerce Manager Rossie Ortiz. "When we started our operations, we often had to reject orders due to lack of capital. However, with the support of Ex-Im Bank, we have increased our sales and created jobs in our community."

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Join the US Government for #TradeChat and Get Your Exporting Questions Answered -
Created on May 2, 2013
 

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.

Twitter chat

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 9th 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 16th 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.

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Celebrating World Trade Throughout May -
Created on May 2, 2013
 

May brings warmer weather, longer days, and, most importantly for us at the Department of Commerce, World Trade Month. For years, this has been a special time to reflect on the importance of trade to our nation’s economic well-being.

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Investing In The U.S. Is Good Business and Helps To Create Jobs -
Created on April 30, 2013
 

SelectUSA Investment SummitU.S. Deputy Commerce Secretary Rebecca Blank just announced that the inaugural SelectUSA Investment Summit will be held in Washington, DC from Oct. 31 to Nov. 1, 2013.

The Summit will be the first of its kind, connecting businesses and investors from around the world with economic development organizations (EDOs) from across the country in an effort to promote investment in the United States and support the creation of American jobs. The two-day event will also amplify the work of SelectUSA in delivering on President Obama’s agenda to increase direct investment in the United States as a way to spur economic growth and create jobs.

The Summit will bring together international and domestic investors; national, regional, state and local economic development organizations (EDOs); senior Obama Administration officials; business leaders; and industry and technical experts, providing them with a unique opportunity to discover all the reasons why the U.S. is the ideal destination for companies that are weighing options for locating or expanding  their operations. During the two-day event, participants also will be able to explore potential investment opportunities in this country, as well as share best practices and build networks.

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Are You Ready to Export? -
Created on April 25, 2013
 

Shipping YardExporting your product and services requires planning. Like any successful project, one of the first steps is making a plan.  Whether you’re going on vacation, conducting a domestic business transaction or starting a new venture one common trait is essential for success . . .  careful attention to detail.  A great starting point to determine your company’s level of preparedness for international market entry is completing an export readiness assessment.

Selecting the appropriate markets for our products and services, determining how to strategically engage target markets, and securing the financial and managerial resources are just some of the analyses needed to ensure that your export venture is a long-term success. The results of such an assessment may, for example, lead to modifying and ramping up production in order to ship your products to South America or perhaps giving consideration to a more complex venture of opening an office abroad.

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Guide to Going Green -
Created on April 25, 2013
 

Green BusinessGoing 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.

Learn how to “green your business” and work toward creating a cleaner, healthier environment for thecommunity and for the 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. 

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Investing in Manufacturing Communities Partnership -
Created on April 23, 2013
 

The Investing in Manufacturing Communities Partnership (IMCP) is a new Administration-wide initiative that will accelerate the resurgence of manufacturing and help communities cultivate an environment for businesses to create well-paying manufacturing jobs in cities across the country.

Through the IMCP, the President is directing Federal agencies to provide coordinated assistance to manufacturing communities through a new partnership that will align Federal economic development resources and help U.S. localities make coordinated, long-term investments in their public goods in partnership with universities and industry. These investments will ultimately help regions become more attractive for manufacturers and supply chains. The Partnership will be led by the Commerce Department with support from other federal agencies.

Five to six U.S. communities in 2014 would be competitively selected as pilots, each receiving up to $25 million from the Commerce Department’s Economic Development Administration, in addition to funding from other government agencies. Federal agencies will also align and coordinate their funding opportunities to maximize the effectiveness of Federal expenditures and ensure that localities are able to more seamlessly access the Federal resources they need to fund strategies for attracting long-term business investment.

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Nominate Representatives for the U.S. Census Bureau’s National Advisory Committee on Racial, Ethnic, and Other Populations -

The U.S. Census Bureau is requesting nominations of individuals, both experts and organizational representatives, to the National Advisory Committee on Racial, Ethnic, and Other Populations. The 32 member Advisory Committee provides insight, perspectives, expertise and advice to the Director of the Census Bureau on the full spectrum of Census surveys and programs. The Committee assists the Census Bureau in developing appropriate research/methodological, operational, and communication strategies to reduce program/survey costs, improve coverage and operational efficiency, improve the quality of data collected, protect the public's andbusiness units' privacy and enhance public participation and awareness of Census programs and surveys, and make data products more useful and accessible.

Topics may include: hidden households, language barriers, students and youth, aging populations, American Indian and Alaska Native tribal considerations, new immigrant populations, populations affected by natural disasters, highly mobile and migrant populations, complex households, poverty populations, race/ethnic minorities, rural populations and population segments with limited access to technology. The Committee also advises on data privacy and confidentiality concerns, the dynamic nature of new businesses, minority ownership of businesses, as well as other concerns impacting Census survey design and implementation.

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IRS2Go App Updates -
Created on April 11, 2013
 

IRS Mobile AppThe Internal Revenue Service recently released an update to their IRS2Go mobile app. One of the new features of the app, available on the Android and iOS platforms, is that it detects whether a user’s device is set to English or Spanish and delivers the app in that language.

Other resources available on IRS2Go include:

  • Get Your Refund Status. Taxpayers can check the status of their federal refund through the mobile app with a few basic pieces of information. An updated refund status is available 24 hours after the IRS acknowledges receipt of an e-filed return, or four weeks after mailing a paper return.

  • Get My Tax Record. Taxpayers can now order their tax account or tax return transcript from a mobile device. The transcript will be delivered via U.S. Postal Service to their address of record.

  • Watch Us. People can view the IRS YouTube videos right on their smartphones. The IRS YouTube video channels provide short, informative videos in EnglishSpanish and in American Sign Language on a variety of tax topics.

  • Follow the IRS. Taxpayers can sign up to follow the IRS Twitter newsfeeds, @IRSnews or @IRSenEspanol, which provide easy-to-use information, including tax law changes and important IRS programs

  • Get Tax Updates. Phone app users enter their e-mail address to automatically get simple, straightforward tips and reminders to help with tax planning and preparation. Tax Tips are issued daily during the filing season and periodically throughout the rest of the year.

  • Get the latest news. With this tool users can quickly access the most recent updates on the IRS.gov English and Spanish news pages

You can view more mobile products like IRS2Go on the USA.gov Apps Gallery.

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Extension of Time to File Your Tax Return -
Created on April 11, 2013
 

Can’t File By April 15?

There are three ways you can request an automatic extension of time to file a U.S. individual income tax return: (1) you can electronically file Form 4868 (PDF), Application For Automatic Extension of Time To File U.S. Individual Tax Return; (2) you can pay all or part of your estimate of income tax due using a credit or debit card or by using the Electronic Federal Tax Payment System (EFTPS); or (3) you can file a paper Form 4868 by mail.

If you file your Form 4868 electronically you will receive an acknowledgement or confirmation number for your records and you do not need to mail in Form 4868. If you need to pay additional taxes when filing Form 4868 electronically, you may do so through the outside service provider or through e-file. You can refer to your tax software or tax professional for ways to file electronically using e-file services. Several companies offer free filing of Form 4868 through the Free File program that you can access on the IRS.gov website. If you wish to file electronically, be sure to have a copy of last year's tax return. You will be asked to provide the adjusted gross income (AGI) from the return for taxpayer verification.

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ACE Tool Helps U.S. Businesses Fully Assess the Advantages of Manufacturing and Sourcing In America -
Created on April 10, 2013
 

I have the pleasure of meeting frequently with business owners from across the country. They talk about where their challenges are in growing and sustaining their businesses, and they also talk about how locating production abroad hasn’t always turned out as well as they had hoped. Not surprisingly, during our current economic recovery and expansion, news reports and private consultants have repeatedly echoed that thinking. Increasingly we hear that U.S. companies that previously took their operations or supply chains overseas are now reshoring or insourcing─bringing operations and supply chains back home to America.

To help continue that momentum, the Department of Commerce today published a new tool to help inform manufacturing firms’ location decisions. The Assess Costs Everywhere (ACE) tool outlines the wide range of costs and risks associated with offshore production, and provides links to important public and private resources, so that firms can more accurately assess the total cost of operating overseas. ACE also shares case studies of firms that reversed their decisions to locate offshore once the full range of costs became clear.

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Minority Business Development Agency Opens Shop at State’s Indian Affairs Department -
Created on April 4, 2013
 

The Minority Business Development Agency (MBDA) held a ribbon cutting ceremony today to announce the creation of a new business center to be housed at the State of New Mexico’s Indian Affairs Department (IAD).  The Center received $1,275,00 from the MBDA for five years to work with New Mexico tribes. The Santa Fe Center, in collaboration with the IAD, will assist the Native American Business Community in New Mexico in three basic areas: (1) client services; (2) program promotion and advocacy; and (3) operational and performance management.

Ted Pedro, the Center’s Project Director added that, “These components are designed to identify immediate and long-term client needs and expectations, establish projected growth tracks, implement targeted plans of action for increasing size, scale and capacity, provide strategic referrals, increase exposure and visibility of the MBDA Business Center program, and to maintain the quality of center operations while promoting the achievement of our client’s outcomes.” View event photos below.

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Honoring the Memory of Ron Brown -
Created on April 4, 2013
 

The following blog post was written by U.S. Commerce Deputy Secretary Rebecca Blank and Special Assistant to the President and Director of the White House Office of Social Innovation and Civic Participation Jonathan Greenblatt.

Ron BrownToday, we honor the anniversary of the passing of former U.S. Secretary of Commerce Ron Brown. Secretary Brown was a dedicated public servant whose untimely death during a trade mission to Croatia on April 3, 1996 ended his life far too soon. His vision continues to be important and today’s work at the Department of Commerce builds on his legacy. 

Secretary Brown served his country in Korea as a soldier in the U.S. Army and in the halls of Congress as chief counsel to the Senate Judiciary Committee. He also broke down barriers – becoming the first African American chairman of the Democratic National Committee and the first African American to serve as U.S. Secretary of Commerce. In this latter role, he made perhaps his largest impact.

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A Chance to Comment on Commerce’s Report on Cybersecurity Incentives -
Created on April 1, 2013


As part of the Executive Order  signed by President Obama last month directing agencies to use their existing authorities and work with the private sector to better protect our nation’s power, water, and other critical systems, the Commerce Department is preparing a report on ways to incentivize companies and organizations to improve their cybersecurity.  To better understand what stakeholders –  such as companies, trade associations, academics and others – believe would best serve as incentives, the Department has released a series of questions to gather  public comments in a Notice of Inquiry published today.

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Spotlight on: MBDA Global Business Center -
Created on March 28, 2013


According to Ernst & Young’s “Six Trends Shaping the Global World,” 70% of world growth over the next several years will come from emerging markets. The emerging markets in Brazil, Russia, India, and China, commonly referred to as BRIC will represent 50% of global gross domestic product growth (GDP). Furthermore, between now and 2050 world population is estimated to grow by around 2.43 billion and global GDP reach $56 trillion.

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MBDA Congratulates Clients on Recent Appointments to the U.S. Department of Commerce’s Manufacturing Council -

Created on March 28, 2013


On March 14, 2013, the U.S. Deputy Secretary of Commerce Rebecca Blank announced the appointment of 26 members to the 2013 Manufacturing Council (Council). The Council, established in 2004 and directed by the Department of Commerce’s International Trade Administration, helps to ensure that there is regular communication between the U.S. government and the manufacturing sector.

The Council is comprised of up to 30 members that represent a diverse cross section of the manufacturing industry, including steel, textile, semiconductor, and medical manufacturers. Their products support a wide range of industries such as the auto, apparel, aerospace, and energy efficiency sectors.

Among the new members of the 2013 Manufacturing Council are MBDA Business Center clients Christie Wong Barrett of Mac Arthur Corporation and Andra Rush of The Rush Group. Headquartered in Michigan, both companies are industry leaders with expertise that spans decades and operations that reach national and international markets.

Their depth of experience will greatly contribute to the Council’s approach to addressing issues and generating solutions to strengthen U.S. manufacturing and global competitiveness. 

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Showcasing Native American and Alaska Native and Women-Owned Businesses -
Created on March 28, 2013

David Hinson, National Director

Two critical segments of our nation’s economy were brought to center stage this month, the Native American and Alaska Native and women-owned business communities. I had the privilege of speaking at the 27th Annual National Reservation Economic Summit (RES) hosted by The National Center for American Indian Enterprise Development. Each year, The National Center brings tribal leaders together with numerous industry leaders, CEOs, as well as state and local elected officials, for discussions on how to strengthen the Native American and Alaska Native business community.

On the first day of the conference, I moderated the Tribal Business Leaders Forum, which brought together executives of Tribal Enterprises, Alaska Native Corporations and members of the United States Congress. The Forum provided business leaders with the opportunity to communicate their accomplishments and obstacles related to  economic development. It also provided a platform to inspire the business enterprises to collaborate and work with each other to build tribal economic alliances and broaden the scope of domestic and global economic opportunity for Indian Country.

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OPIC rocks Cleveland with Expanding Horizons seminar for Ohio small businesses -
Created on March 18, 2013
 

Top Photo - Alison Gatchev, OPIC Director of Corporate Development, addresses the OPIC-MBDA Expanding Horizons seminar in Cleveland as OPIC Director of Outreach and Public Affairs Dr. Lawrence Spinelli looks on. (Photos: Jay R. Fogel)<br /> Bottom Photo - Dr. Spinelli and Ms. Gatchev with Raland Hatchett, Executive Director of the MBDA Business Center-Cleveland.OPIC kicked off its 2013 Expanding Horizons series in Cleveland yesterday  by educating 100 Ohio small business owners about how OPIC products can help them take advantage of investment opportunities in emerging markets – the very markets where a majority of the world’s economic growth will take place in coming years.

Co-hosted with the Minority Business Development Agency Business Center-Cleveland, the half-day seminar was a hands-on tutorial in the innovative financial tools – among them financing and political risk insurance – that OPIC has used for four decades to help Ohio businesses successfully invest in those markets.

A profile of DLZ Corporation, a Columbus engineering firm that used an OPIC loan for a hydro power project in India as a springboard to subsequent growth.

“Ohio has a long tradition of innovation, particularly as an incubator for small businesses and new technologies. We believed Cleveland was an important place to come to as its SMEs consider engaging in the global marketplace,” said OPIC Director of Outreach and Public Affairs Dr. Larry Spinelli, who led the seminar.

“And our message is this: there are a lot of opportunities in emerging markets, but also challenges. OPIC is here to help Ohio small businesses to take advantage of those opportunities by managing those challenges in an effective way,” Dr. Spinelli said. “We couldn’t ask for a better partner in getting this message across than the MBDA.” 

Raland Hatchett, Executive Director of MBDA Business Center-Cleveland, said, “The information provided in the seminar was impactful, insightful and well-received – a fact supported by the number of questions from the minority-owned business owners in the audience. I highly recommend that others use the seminar to disseminate information about OPIC.”

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Gold Key: The Match.com of Exporting -
Created on March 18, 2013
 

Gold Key ServiceAre you interested in exporting to a new market? Need help finding the best overseas business partner?

The U.S. Commercial Service’s Gold Key business matchmaking service does exactly that. The Gold Key Service is a cost-recovery fee based, customized matchmaking service, which enables U.S. companies to find an ideal overseas distributor or business representative. The Gold Key is provided through your local U.S Export Assistance Center which works with the U.S. Embassy in the country of interest.

For larger countries, that require multiple distributors/business partners, the Gold Key Service is offered specifically for the geographic area you would like to target. The service pre-screens and organizes a day or two of meetings with 3-5 potential partners which you then fly out to meet. A Gold Key can take 6-8 weeks to complete so planning ahead is necessary.

Where is the value?

As you can imagine, U.S. companies find this service very valuable because they receive pre-scheduled meetings with pre-qualified distributors vetted by an in-country Commercial Specialist at the U.S. Embassy or Consulate, prior to traveling to the market. Obviously no business partner is absolutely perfect but every effort is made to identify a compatible relationship.

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MBDA Honors the Life and Legacy of Abraham S. Venable (1930-2013) -
Created on March 8, 2013
 

Abe VenableIn 1970 Abraham S. Venable was appointed by President Richard Nixon to serve as the Minority Business Development Agency’s first African American Director. Under his leadership, President Nixon signed Executive Order 11625 to develop and coordinate a national program for minority enterprise that has now been in existence for over 40 years. After leaving MBDA, Mr. Venable remained dedicated to championing minority-owned firms and spent nearly 20 years working with General Motors Co., to increase its business relationships with minority-owned dealerships, suppliers, insurers and banks. Mr. Venable’s efforts helped to spur the dramatic growth of opportunities for minority-owned businesses in both the public and private sectors in recent decades.

In recognition of Mr. Venable’s estimable record of minority business advocacy, MBDA named a National Minority Enterprise Development (MED) Week award in his honor, the “Abe Venable Award for Lifetime Achievement,” to acknowledge individuals who have played an integral role in the creative, technical or professional progress of the minority business community. Recent honorees have included Rush Communications LLC Founder Russell Simmons and U.S. Representative Silvestre Reyes. Through this award, MBDA is ensuring that Mr. Venable’s legacy of fostering economic opportunities for minority entrepreneurs will endure.

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Get Ready......it's Tax Season! -
Created on March 1, 2013
 

TaxesAs a business owner you need to understand how taxes are going to affect you and your business. It is important that you file properly, avoid audits, and claim the right tax deductions.

Here are a five tips that may ease the burden of tax preparation and to help you get ready for the April 15, 2013 deadline.

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Comment on Proposed Rule to Improve Access to the 504 and the 7(a) Loan Programs -
Created on February 28, 2013
 

Borrowers and lenders of loans backed by the U.S. Small Business Administration will have greater access to capital and less paperwork as a result of a proposed regulation aimed at streamlining the SBA application process, while also strengthening oversight and the integrity of the agency’s loan programs.

 “Streamlining and simplifying has been a key focus of our agency over the last few years. The changes are the latest steps to reduce paperwork burden, with our eye on the larger goal of expanding access to capital and giving entrepreneurs and small business owners the financial resources to grow and create jobs,” said SBA Administrator Karen Mills. “Specifically, these proposed regulations will provide greater access to capital through our two largest loan programs, while also reducing risk to taxpayer dollars.”

The SBA proposes the new measures after extensive consultations with lenders and borrowers to identify the greatest challenges they face and find ways to reduce barriers to making and accessing loans, while still maintaining strict oversight.

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Sell Around the Globe? Tell the World: Enter export video contest for a chance to win $10,000 -
Created on February 27, 2013
 

Do you sell bowling balls to Bangladesh? Or dish towels to Delhi? Maybe you send laser technology to Lisbon? If you export your goods or services 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) want to see your story. Enter the “2013 SBA-Visa Export Video Contest”, where participants will have a chance to win up to $10,000 in prize money. Eligible small business exporters are encouraged to submit a video that will highlight how the small business became a successful exporter, the benefits of exporting and government programs available to help them export.

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Doing Business in Africa Forum Presents Opportunities for American Businesses in Sub-Saharan Region -
Created on February 26, 2013
 

Guest blog post by Francisco Sánchez, Under Secretary of Commerce for International Trade and David Hinson, National Director, Minority Business Development Agency

Earlier this week, we attended the Doing Business in Africa Forum at the White House. This was the first forum of the Doing Business in Africa campaign that the Commerce Department launched three months ago in Johannesburg, South Africa. Deputy Secretary of Commerce Rebecca Blank gave the opening remarks and focused on strengthening commercial ties between the United States and Sub-Saharan Africa. She emphasized that as the continent’s wealth increases, so does the demand for improved infrastructure, energy services, and high-quality consumer and agricultural products – all of which American companies are well positioned to provide.

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