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Hispanic Heritage Month

Blogged By: 
MBDA
Created on September 12, 2013
 

FY2012 Capital and Contracts for Hispanic-American Firms

Hispanic-owned firms contribute greatly to U.S. exports, which are a critical component of our Nation’s economic growth. The percentage of Hispanic American-owned firms that export (7.2 percent) is more than double that of all U.S. firms. Hispanic American-owned firms export an average of $2.3 million in annual receipts, compared to their non-exporting counterparts, who average $124,000.

As we observe Hispanic Heritage month, which runs from Sept. 15 – Oct. 15, it is important to recognize the many contributions Hispanic-owned businesses have made to the U.S. economy:

  • There are 2.6 million Hispanic American-owned firms in the U.S.;

  • Eleven percent have paid employees (averaging eight per firm), and over $1.1 million in annual receipts;

  • Hispanic-owned businesses generate $351 billion in annual economic output; and

  • Hispanic-owned firms employ 1.9 million people each year.

One example of a successful Hispanic-owned business is TIG/m, a California railcar manufacturer, which generates 100 percent of its revenue from exports. Alvaro Villa, who came to America as a teenager, founded TIG/m after a career with Disney, where he established a worldwide reputation for building quality robotic amusement rides and attractions. As trains are an integral part of most amusement park attractions, his transition to railcars came quite naturally.

“Kingonomics” Conference Empowers Minority Entrepreneurs

Blogged By: 
MBDA
Created on September 12, 2013
 

KingonomicsOver 100 experts in innovation, entrepreneurship, and investment sought to educate and empower those who attended the Kingonomics Conference at the Walter E. Washington Convention Center in Washington, DC, on August 23.

The conference, which was held in conjunction with the 50th Anniversary of the March on Washington, included panel discussions, economic “boot camps,” and even an official casting call for ABC’s Shark Tank, a TV show where self-made multi-millionaire and billionaires give budding entrepreneurs the chance to potentially secure business deals that could make them millions. “This event gave entrepreneurs the opportunity to access micro-loans, meet angel and super angel investors and connect with venture capital firms,” said Dr. Rodney Sampson, coordinator of the Kingonomics Conference.

Exporting to Sub-Saharan Africa is a win-win!

Blogged By: 
David A. Hinson, National Director
Created on September 12, 2013
 

David Hinson, National Director Last month the United States Government partnered with the Federal Democratic Republic of Ethiopia to host the 2013 U.S.—Sub-Saharan Africa Trade and Economic Cooperation Forum in one of East Africa’s largest and most vibrant cities, Addis Ababa, Ethiopia.  Senior U.S. Government officials and business leaders, along with their counterparts from African Growth and Opportunity Act (AGOA)-eligible nations, discussed a range of trade and investment-related issues that are likely to have a significant impact on the future of Sub-Saharan Africa. 

AGOA is the most important trade legislation between the United States and Sub-Saharan Africa to date, and has paved the way for new product exports to the United States, including cut flowers, horticultural, automotive products, and steel. Textile, apparel goods and agricultural products, a promising area for new AGOA trade, were added in 2009.  Since being signed into law in 2000, AGOA has resulted in substantial growth of the African apparel industry, adding 350,000 new jobs in Sub-Saharan Africa, and about 100,000 jobs in the United States. 

SelectUSA 2013 Investment Summit: America is Open for Business

Blogged By: 
MBDA
Created on September 6, 2013
 

The two-day SelectUSA 2013 Investment Summit will connect international and domestic investors and firms with economic development organizations (EDOs) from across the United States, in an effort to promote investment and job creation.

Export Readiness Assessment Tools

Blogged By: 
MBDA
Created on September 6, 2013
 

There are various resources that allow you to assess your company’s readiness to export. These tools help you to understand what constitutes export readiness for a firm, and how your company can move toward that goal:

Export.gov’s “Are You Export Ready?” Questionnaire - This questionnaire highlights characteristics common to successful exporters. Many of these questions will guide you into areas of the Export.gov homepage where you can obtain more information on exporting. Upon completion, you will receive a score which will help you to assess your export readiness, as well as identify areas of your business needs to strengthen to improve its export activities.

globalEDGE Diagnostic Tool--CORE™ - This self-assessment tool allows you to determine your company's readiness to expand its operations internationally and ascertain its ability to export a particular product.

Did you know...

MBDA Minority Business Centers helped clients secure contracts totaling $6.9 billion during the last 5 fiscal years.
Graph for Dollar Value of Contracts

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