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Debunking Myths About the Affordable Care Act

Blogged By: 
Meredith K. Olafson, SBA Community Moderator
Created on September 19, 2013
 

HealthcareAs a business owner, it's important to understand how the Affordable Care Act may affect your business. However, with so many misconceptions about how the Affordable Care Act works, this can be difficult.

As part of our ongoing blog series, "Myth vs. Fact: The Affordable Care Act and Small Business," this week we're debunking another common myth: Business owners will be fined if they don't provide notification to their employees about the new Health Insurance Marketplace.

Fact: If your company is covered by the Fair Labor Standards Act, you must provide a written notice to your employees about the Health Insurance Marketplace by October 1, 2013. However, there is no fine or penalty under the law for failing to provide the notice.

Southern Africa Intermodal Freight Reverse Trade Mission

Blogged By: 
MBDA

Created on September 18, 2013

 

Dates: September 22-October 3, 2013

Locations: Washington, DC; Richmond and Norfolk, VA; Indianapolis, IN; Joliet and Chicago, IL

U.S. Trade and Development Agency is sponsoring a reverse trade mission (RTM) to the United States for a delegation of public and private sector representatives from Southern Africa's rail sector, to explore U.S. technologies and best practices for intermodal freight transportation.

In addition to showcasing U.S. equipment and services, this RTM will also expose the delegates to U.S. policies, regulations, and financing mechanisms that can support the implementation of intermodal freight transportation projects in Southern Africa.

Lighting the Way—San Jose MBDA Business Center client wins contract with City of Oakland

Blogged By: 
MBDA
Created on September 12, 2013
 

Thanks to innovative technologies and manufacturing methods, coupled with the need to reduced usage and costs, cities today have a variety of street and byway lighting options.  The city of Oakland, California is switching to light emitting diode lighting (LED), and chose Amland Corporation of San Jose to replace 30,000 high pressure sodium street lights with what promises to be energy efficient and long-lived LEDs. This project will illuminate 800 miles of city streets — the equivalent of 450 square miles.

Amland’s president, Kevin Phan, is excited about the project, both for the sake of his firm and the benefits LED technology has for the larger community.  An immigrant from Vietnam, Mr. Phan came to the United States in 1982 and went to work for CalTrans, where he developed his interests in electrical contracting and civil transportation engineering.

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.

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