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Blog March 2013
|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.
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.
|Created on March 28, 2013|
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.
Created on March 18, 2013
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.”
Created on March 18, 2013
Are 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.