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3 Resources To Help You Crack the Export Market

Blogged By: 
Caron Beesley, SBA Blog Contributor
Created on March 5, 2015
 

World Map with business peopleU.S. businesses are selling more goods and services abroad than ever before, reaching an all-time record of $2.3 trillion in 2013 – and 98 percent of American companies that export are small businesses.

Despite the statistics, many small businesses still face big challenges when it comes to financing and managing their export business. A recent trade seminar, hosted by the Department of Commerce and several other federal agencies, identified three commonly cited financial obstacles small businesses have to going global:

  • Don’t know how to obtain working capital and financing to support export transactions

  • Don’t know where to seek assistance for entering, growing and succeeding in global markets

  • Don’t know how to get paid by foreign buyers overseas

Minority-Owned Manufacturing Firms Employ 342,000 Thousand Workers!

Blogged By: 
Patricia Tomczyszyn, MBDA Public Affairs Specialist
Created on March 4, 2015
 

U.S. Minority-Owned ManufacturersIn the first of a series of new industry-based fact sheets released by MBDA, data reveals that minority-owned manufacturing firms employ 342,000 workers and grew faster than their non-minority counterparts in three areas—number of firms, employees and gross receipts.

This data supports MBDA’s increased focus on manufacturers over the past few years and we’ve seen results. Between FY 2009 and 2013, MBDA facilitated $2.8 billion in contracts for minority-owned manufacturing firms.  For the past two years, MBDA manufacturing clients have shown significant growth, becoming the top category for contracting revenue, a designation traditionally reserved for MBDA clients in the construction industry.

In an effort to continue this upward trend, MBDA awarded supplemental funding to four MBDA Business Centers to better assist clients in advanced manufacturing. Their specialty expertise will have a national scope while centrally located in Atlanta, Detroit, Indianapolis, and Cleveland – cities with a high population of minority-owned manufacturers.

Increasing Mentor-Protégé Opportunities for all Small Businesses

Blogged By: 
SBA Blog
Created on March 3, 2015
 

Summit Comment on Small Business Mentor Protege Program;The U.S. Small Business Administration (SBA) recently published a proposed rule to amend its regulations to establish a government-wide Mentor-Protégé Program for all small businesses as directed by the Small Business Jobs Act of 2010 and the National Defense Authorization Act of 2013 (NDAA). As directed by the statute, the proposed small business mentor-protégé program is modeled on SBA’s existing 8(a) Business Development mentor-protégé program.

The expansion of the program will increase opportunities for small businesses to enter the federal marketplace as well as to pursue larger and more complex requirements. The mentor protégé program is designed to pair up nascent firms that are facing potential development gaps with larger, more experienced firms that can assist in filling those gaps.

Mentors typically provide support in areas such as managerial experience, past performance qualifications, project implementation know-how and the ability to manage larger and complex contracts.

Improved HR Tool for Employers and Employees

Blogged By: 
MBDA
Created on March 3, 2015
 

CareerOneStop's Business CenterThe U.S. Department of Labor is rolling out a number of improvements to its CareerOneStop Business Center site, including new videos and tutorials to help businesses train and retain employees. Employers can send their workers to the CareerOneStop for employees for information on learning new skills and certifications.

CareerOneStop's Business Center is a one-stop site for businesses looking to hire, train, or retain a strong workforce. It includes information, resources and online tools such as the Job Description Writer and a robust job bank.

Changes to Small Business Health Care Tax Credit

Blogged By: 
MBDA
Created on March 2, 2015
 

ACA Tax ProvisionsSmall employers should be aware of changes to the small business health care tax credit, a provision in the Affordable Care Act that gives a tax credit to eligible small employers who provide health care to their employees.

Beginning in 2014, there are changes to the tax credit that may affect your small business or tax-exempt organization:

  • Credit percentage increased from 35 percent to 50 percent of employer-paid premiums; for tax-exempt employers, the percentage increased from 25 percent to 35 percent.

  • Small employers may claim the credit for only two consecutive taxable years beginning in tax year 2014 and beyond.

  • For 2014, the credit is phased out beginning when average wages equal $25,400 and is fully phased out when average wages exceed $50,800. The average wage phase out is adjusted annually for inflation.

  • Generally, small employers are required to purchase a Qualified Health Plan from a Small Business Health Options Program Marketplace to be eligible to claim the credit.  Transition relief from this requirement is available to certain small employers.

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