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U.S. Exports Hit Record High for the Fifth Straight Year

Blogged By: 
Secretary of Commerce, Penny Pritzker
Created on February 5, 2015
 

Trade Agreements Will Help Accelerate Economic Growth

New data that show U.S. businesses exported $2.35 trillion of our goods and services in 2014, hitting a record high for the fifth straight year. U.S. goods exports increased 2.7 percent to a record $1.64 trillion in 2014.Today, the Commerce Department announced new data that show U.S. businesses exported $2.35 trillion of our goods and services in 2014, hitting a record high for the fifth straight year. U.S. goods exports increased 2.7 percent to a record $1.64 trillion in 2014. Records were set in exports of capital goods; consumer goods; petroleum products; foods, feeds, and beverages; and automotive vehicles and parts. Annual services exports hit an all-time high of $710.3 billion, led by record export levels in the travel, transport, charges for the use of intellectual property, and financial services sectors.

Puerto Rico MBDA Business Center’s MED Week Event Helps Local Entrepreneurs, Businesses Expand Their Opportunities

Blogged By: 
MBDA
Created on January 30, 2015
 

Conference attendees with National Director Castillo and James W. Brewster, Jr., U.S. Ambassador to the Dominican Republic

Puerto Rican businesses and entrepreneurs looking for opportunities that drive growth found them during Puerto Rico’s MBDA Business Center’s Minority Enterprise Development Week (MED Week) conference held on January 30th in San Juan’s Condado Plaza Hotel.

The MED Week in Puerto Rico continued the celebration of the Minority Business Development Agency’s (MBDA) 45th Anniversary.  It was also another opportunity to amplify our continued efforts in Puerto Rico to assist minority-owned firms grow in size and scale, and diversify into the industries of tomorrow.

To that end, this past year, we engaged the Puerto Rico MBDA Business Center on several important business endeavors.  One of them was ensuring that minority firms in Puerto Rico were well positioned to export, and that’s precisely why we invited James W. Brewster, Jr., U.S. Ambassador to the Dominican Republic to be the keynote speaker at this year’s MED Week event.  As a critical trade partner, we wanted to talk about the exporting opportunities that exist in the Dominican Republic, but also throughout all the Caribbean nations.

Data Snapshot: How Much Do Small- and Medium-sized Businesses Contribute to U.S. Exports?

Blogged By: 
Jane Callen, Economics and Statistics Administration
Created on January 28, 2015
 

Export DataIn his State of the Union address, President Obama said that “21st century businesses, including small businesses, need to sell more American products overseas.  Today, our businesses export more than ever, and exporters tend to pay their workers higher wages…”

Following on the President’s remarks, we thought it would be valuable to take a quick “data snapshot” of the most recent annual report on exporting companies published by the U.S. Census Bureau. The 2014 report shows that small-and-medium-sized companies continue to contribute a larger share of our exports than in the past. As the below graph shows, in 2013 (the most recent year for which we have data), these companies accounted for approximately 35 percent of total goods export value -- continuing a steady growth trend of the past decade.

Upcoming Small Business Innovation Research & Small Business Technology Translation Webinars

Blogged By: 
MBDA
Created on January 27, 2015
 

WebinarThe Small Business Innovation Research (SBIR) program is a highly competitive program that encourages domestic small businesses to engage in Federal Research/Research and Development (R/R&D) that has the potential for commercialization.

Through a competitive awards-based program, SBIR enables small businesses to explore their technological potential and provides the incentive to profit from its commercialization.

By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.Get to know the Small Business Innovation Research (SBIR) and Small Business Technology Translation (STTR) programs.

Invitation to Global Connect: Texas Trade Finance Seminar on Feb. 20, 2015 in San Antonio

Blogged By: 
MBDA
Created on January 27, 2015
 

Global Connect

You are cordially invited to attend “The Global Connect: Texas Trade Finance Seminar” on February 20, 2015 at the International Trade Center at the University of Texas at San Antonio.

This seminar is (1) a must attend event for Texas and Southwest-based businesses, especially small and medium-sized enterprises, interested in entering, growing, and succeeding in global markets; (2) a major networking occasions for financial professionals seeking to expand their client base; (3) a great learning opportunity for students interested in international trade and global businesses; and (4) offered in support of the advancement of U.S. Hispanic and other minority-owned businesses in global markets.

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