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Marjorie Baker recently completed a summer internship with the International Trade Administration’s Office of the Western Hemisphere.
Created on September 30, 2014
More Latin Americans than ever are now members of the middle class, and sustained economic growth in the region has led to increased demand for energy.
Energy consumption is projected to more than double in Latin America between 2010 and 2030, and this will transform the continent’s energy sector, creating new opportunities for U.S. companies.
As part of the federal government’s Look South initiative, the International Trade Administration (ITA) has published a series of best prospect sector reports for our 11 Free Trade Agreement partners in Latin America (Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, and Peru).
Created on September 26, 2014
Recent studies have shown that the pace of growth in the U.S. manufacturing sector continues to rise. Minority businesses are playing an integral part in that growth and are helping to keep the “Made in America” product strong.
This year, the Minority Business Development Agency recognized two businesses for outstanding manufacturing impact and achieving significant success in employing new and innovative techniques that led to a significant increase in market share, job growth and customer satisfaction.
The first was Detroit Manufacturing Systems, LLC (DMS). DMS currently has more than 700 employees and develops state-of-the-art automotive interior systems. By utilizing the latest technologies, DMS assembles and manufactures injection molded interior trim components for global automotive brands, all with a firm commitment to quality and efficiency.
The second award was given to Ruiz Food Products, Inc. Fred Ruiz cofounded Ruiz Food Products, Inc., with his father Louis in a small warehouse in Tulare, Ca. in 1964. The company is now celebrating its 50th anniversary, and employs 2,300 people. Ruiz Food Products has three manufacturing facilities – in Dinuba, Calif., Tulare, Calif., and Denison, Texas – and recently purchased another facility in Florence County, S.C.
SBA Proposes Revisions to Employee-Based Size Standards for Manufacturing and Other Industry Sectors
Created on September 9, 2014
The U.S. Small Business Administration published two proposed rules to revise small business size standards in North American Industry Classification System (NAICS) Sector 31-33 (Manufacturing) and industries with employee-based size standards that are not a part of NAICS Sector 31-33, Sector 42 (Wholesale Trade), and Sector 44-45 (Retail Trade). The proposed rules were published in the Federal Register today.
As part of its comprehensive size standards review required by the Small Business Jobs Act of 2010, the SBA evaluated employee-based size standards for all 364 industries in NAICS Sector 31-33 and 57 industries and five exceptions that are not in NAICS Sectors 31-33, 42, or 44‑45 to determine whether they should be retained or revised.
In the first rule, SBA proposes to increase size standards for 209 industries in Sector 31-33. The SBA also proposes to increase the refining capacity component of the Petroleum Refiners (NAICS 324110) size standard to 200,000 barrels per calendar day total capacity for businesses that are primarily engaged in petroleum refining. The proposed rule also eliminates the requirement that 90 percent of a refiner’s output being delivered should be refined by the bidder.
Created on September 18, 2014
Young entrepreneurs have a new tool to help determine if they’re ready for business ownership and to help them get started. Young Entrepreneurs: An Essential Guide to Starting Your Own Business (Jóvenes Emprendedores) is a free, self-paced online course in Spanish that gives an overview of basic business principles and introduces resources available from the U.S. Small Business Administration.
“This month, the SBA recognizes the vital contributions Hispanic American small business owners have made to our economy as we observe National Hispanic Heritage Month,” said Maria Contreras-Sweet, SBA Administrator. “As a proud Hispanic American, I believe that providing financial, educational and technical assistance to Hispanic entrepreneurs is a major means to create jobs and stimulate the economy. The new course is an essential business development tool for young entrepreneurs that can be central to the future success for many generations to come.”
The Young Entrepreneurs course is designed to help with the essentials of starting a small business, including evaluating business ideas, choosing the best financing options and registering a business. The course also includes useful resources that will help with each step along the path to entrepreneurial success.
Created on September 16, 2014
Sharpening your skills in any profession is a continuing effort. That is why the Minority Business Development Agency (MBDA) conducts annual training so our “boots on the ground,” can continue delivering excellent technical assistance, business development resources, as well as access to contract, capital and markets.
This year’s training conference will take place Sept. 15-19 in Detroit and will host approximately 250 attendees, made up of MBDA Business Center Operators and directors, invited speakers and MBDA headquarters staff.
The conference provides an annual training platform for MBDA’s nationwide network of 44 Business Centers. The training is a requirement stated as part of the Federal Funding Opportunity Announcement which is the controlling document for the Agency’s cooperative agreement which funds their operations.