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In recognition of Earth Day on April 22nd, I wanted to talk to you about conservation and our efforts to create environmental jobs and promote green technology.
Conservation means making sure the limited resources we use to power our homes and car and produce materials are used more responsibly. It means maximizing efficiencies and doing more with less—areas in which minority-owned businesses excel. Thankfully, while we may have a finite amount of coal or oil, our entrepreneurial capacity is infinite. Our transition toward a more sustainable system provides countless opportunities for innovation in green industries.
Green is also the color of money, and what’s good for the environment is good for the economy. Working towards environmental sustainability creates news jobs, new markets, and new industries. Minority-owned businesses can find excellent opportunities retrofitting houses and offices to be more energy efficient, constructing wind turbines, providing green recycling and disposal services, and more.
The U.S. Commerce Department’s Economic Development Administration (EDA) and its Office of Innovation and Entrepreneurship announced the opening of its $12 million i6 Green Challenge in partnership with the U.S. Departments of Agriculture, Energy, the U.S. Environmental Protection Agency, the National Science Foundation, and Commerce’s National Institute of Standards and Technology and U.S. Patent and Trademark Office.
As part of MBDA’s ongoing mission to promote the tremendous capabilities of minority-owned firms and the promise of phenomenal growth through exporting and strategic alliances internationally, Director Hinson was the featured speaker at the U.S. Global Business & Markets pavilion on Monday, April 4. View additonal videos at sell-american.com.
National Director Hinson joined Ambassador Philip Murphy, U.S. Assistant Secretary Michael Camunez and Deputy Assistant Secretary Brian McGowan of Economic Development Administration to promote the Obama administration's National Export Initiative (NEI) as well as to attract Foreign Direct Investment (FDI) in the U.S.
Small businesses that have previously filed for bankruptcy are no more burdened than other small firms by poor cash flow, high health insurance costs, or excessive taxes, and they attain similar firm sizes, according to a study released today by the U.S. Small Business Administration’s Office of Advocacy. However, they have about a 24 percent higher likelihood of being denied a loan and are charged interest rates at least 1 percent higher than other firms. The report finds that firms owned by African and Latino Americans are even more likely to be denied loans and charged higher interest rates.
“Small businesses filing for bankruptcy have an opportunity for a new start. This new start is hampered by the challenges of obtaining new loans. This can impede innovation and job creation,” said Chief Counsel for Advocacy Winslow Sargeant.
Small businesses seeking to grow their businesses and create jobs through exporting can turn to new, free educational videos created through a partnership between the U.S. Small Business Administration, Inc. Magazine and AT&T.
Through the public-private partnership, a series of video modules has been developed to inspire and encourage American small businesses to actively pursue exporting and to educate them on how to do so.