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Strategic Partnership can Make a lot of Sense

A strategic partnership can make a lot of sense, but only after all parties agree on some basic rules and protocols

Small companies, squeezed by the pressures of internal growth and the economic uncertainties of mergers and acquisitions, are increasingly turning to strategic alliances for competitive advantage. The problem, however, is that the majority of business alliances fail. In fact, Vantage Partners, a Boston-based consultancy, has done research showing that 60% of alliances fail midway through their expected lifetimes.

Establish an "executive sponsor" in both your organization and your partner's. If the alliance concept is just the idea of a visionary manager, it will become dependent on the personality of a single champion. Identifying an executive sponsor of the alliance emphasizes that the alliance resulted from a collaboration that will keep it going. Executive sponsors must be kept informed of alliance activities (good and bad) and pulled into the discussion only when needed to show priority for the alliance relationship, or to emphasize corporate commitment and resource allocation.
 

Public Hearing: Task Force on Federal Contracting Opportunities for Small Business

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MBDA

On June 28, 2010 at 1pm EST, the Task Force on Federal Contracting Opportunities for Small Business will hold a public hearing at the auditorium at the Department of Commerce located at 1401 Constitution Ave., NW, Washington, DC 20230.

To pre-register for the meeting, please email your name, organization or small business that you represent, along with the contact information to SB_TaskForce_Comment@sba.gov.  You should also include the topics you are interested in discussing (see below). Those interested in attending should register by June 21, 2010 due to security and limited seating.  Please put “registration” in the subject line of the email.

MBDA Director Meets With Haitian Leader

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MBDA

June 10, 2010 – In support of rebuilding Haiti following the devastating earthquake that affected the region this past January, more than 400 companies from the United States, Dominican Republic and Haiti attended the “Building a New Haiti: Commerce, Business, Investment” conference in Montrouis over the last two days.

Rick Wade, Senior Advisor and Deputy Chief of Staff to U.S. Commerce Secretary Gary Locke and David Hinson, National Director of the Minority Business Development Agency, met with René Préval, President of the Republic of Haiti to discuss ways in which Haiti can diversify its economy and develop stronger economic relationships with the U.S. as well as create an environment that fosters job creation and economic stability.

Wade reiterated the commitment of President Barack Obama and Commerce Secretary Locke to the people of Haiti and to engage the Haitian Diaspora in these efforts.   Hinson discussed how Haitians living in America are extremely supportive of their home country and are eager to help rebuild the nation.

Commerce Secretary, Gary Locke, Explains Impact of New Health Care Legislation on Businesses

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MBDA

In today’s Wall Street Journal, Secretary of Commerce Gary Locke explains the impact of the new health care legislation on businesses.  Here’s the text of his op-ed:

Don’t Believe the Writedown Hype

Taken as a whole, health reform is undeniably pro business and pro jobs.

By GARY LOCKE

President Obama began his campaign to reform the American health-care system focused on three goals: protecting Americans’ choice of doctors and health plans, assuring quality and affordable health care for all Americans, and reducing costs for families and businesses.

The new comprehensive health-care legislation meets these goals, and will significantly benefit American businesses by slowing and eventually reversing the tide of crippling premium increases washing over our nation’s employers.

These cost savings are real. They will grow over time. And they will make U.S. businesses more competitive.

First, by drastically cutting the number of uninsured, this law reduces the hidden tax of about $1,000 for family coverage that those with insurance pay to cover the cost of the uninsured who rely on emergency rooms for care.

Second, the law invests $5 billion in a new reinsurance program for early retirees starting this year. For employers paying for their retirees between ages 55-64, this provision will directly reduce family premiums by as much as $1,200.

IRS Embraces New Applications to Make Tax Information More Accessible to Small Businesses and the Self-employed

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MBDA

Maximizing the Web’s convenience, accuracy and speed, IRS.gov -IRS’s web site- now assists millions of individual taxpayers, tax professionals, and small business owners to better understand and meet their tax responsibilities.

Updated Virtual Small Business Tax Workshop

The IRS’s Virtual Small Business Tax Workshop is an interactive resource to help small business owners learn about their federal tax rights and responsibilities. This dynamic educational product, available online and on CD 24/7 from your computer, consists of nine stand-alone lessons that can be selected and viewed in any sequence. A bookmark feature makes it possible to leave and return to a specific point within the lesson. Users also have access to a list of useful online references that enhance the learning experience by allowing them to view references and the video lessons simultaneously.

Did you know...

MBDA Minority Business Centers helped clients obtain capital totaling $4.76 billion during the last 5 fiscal years.
Graph for Dollar Value of Capital

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