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Open for Business: Strengthening U.S. Manufacturing and Increasing Investment in the United States

Blogged By: 
Penny Pritzker Secretary of Commerce
Created on October 7, 2015

The U.S. Department of Commerce will host the third SelectUSA Investment Summit on June 19-21, 2016 at the Washington Hilton in Washington, DC. For more information, please visit United States is the world’s best place to do business. Our country is home to a skilled and productive workforce, unmatched institutions of higher education, strong intellectual property protections, a commitment to innovation, an abundant and stable energy supply, and access to millions of global consumers through high-quality free trade agreements. For these reasons and more, CEOs from around the world have ranked the U.S. as the number one place to invest for three years in a row.

In 2015, we welcomed investments from businesses of all sizes, from budding entrepreneurs to major multinationals like Nissan, ABB Group, Novo Nordisk, and Daimler Chrysler.  These companies can choose to operate anywhere, but they chose the United States.  We remain home to more foreign direct investment (FDI) than any other country in the world.

FDI generates growth and creates jobs in many sectors of the American economy, including manufacturing. U.S. manufacturing is in the midst a real comeback, with companies adding nearly 900,000 manufacturing jobs since February 2010 and new factories opening their doors at the fastest rate in decades. Our most recent data demonstrates that foreign investors have played a critical role in this growth. FDI in the U.S. manufacturing sector reached $1.05 trillion (2014) and supports 2.2 million jobs (2012).  Furthermore, U.S. affiliates of international companies spend $48 billion annually on research and development, which drives both innovation and exports.

On Friday, we celebrated Manufacturing Day, but year-round, this Administration is focused on what it takes to keep American manufacturing strong, to attract job-creating global investment, and to build a competitive 21st century economy.

Encourage Entrepreneurship in your Community with the SBA Business Smart Toolkit

Blogged By: 
SBA News
Created on September 29, 2015

What is it? The SBA Business Smart Toolkit is a ready-to-use workshop toolkit developed jointly by National Association for Government Guaranteed Lenders and SBA. The workshop lays the groundwork for helping new and aspiring entrepreneurs launch a business idea and understand the steps to building a business that is credit ready.

The Business Smart Toolkit is a part of SBA’s My Brother’s Keeper Initiative to provide resources for underserved communities. The information is laid out simply in three modules.

Issue Brief Examines Peer-to-peer Lending Model

Blogged By: 
Created on September 25, 2015

Types of crowdfundingThe U.S. Small Business Administration's Office of Advocacy has released a new issue brief entitled Peer-to-Peer Lending: A Financing Alternative for Small Businesses. Peer-to-peer lending (P2P) is an alternative funding model in which individual investors provide small sums as personal loans to individuals via Internet platforms.

In this brief, Research Economist Miriam Segal builds upon existing research and discusses the emerging funding option by explaining the investment model, comparing it to traditional small business financing options, and presenting implications regarding the future of peer-to-peer lending.

While the brief outlines scholarly research on various sources of capital, this report also gives the research economist, the potential investor, and the small business owner, the most up-to-date information on different opportunities for accessing capital in today’s economy.

» Download Issue Brief

Small Business Borrowers’ Bill of Rights Webinars

Blogged By: 
Created on September 25, 2015

Small Business Borrowers' Bill of RightsHave you heard about the Small Business Borrowers’ Bill of Rights?  Want to learn more about this effort to address the emergence of predatory practices in the small business lending market?  FIELD at the Aspen Institute and theResponsible Business Lending Coalition are hosting two webinars to share information about why the BBOR is needed, what it includes, and how organizations that support, promote and advocate for small businesses can join this effort.

Register for Webinar at 2 PM EDT on October 15

Make the Switch to New Payments Technology

Blogged By: 
SBA News
Created on September 24, 2015

EMV ChipsThis October, America will take a major step to mitigate fraud and improve our financial security by migrating away from outdated credit and debit cards that transmit sensitive customer data using magnetic stripes. In 2015, it should not surprise us that a system using essentially the same technology as cassette tapes is especially vulnerable. That is why major credit card companies, lenders, and businesses are now embracing new, more secure, authenticated payment technologies.

Many consumers already have credit cards embedded with microchips in their wallets, and many more will be receiving these cards in the coming months. This technology – also known as EMV (Europay, Mastercard, Visa) – is a safer form of payment for buyers and sellers alike, as the cards are nearly impossible to counterfeit.

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