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Entrepreneur of the Month – June 2016

Blogged By: 
Created on June 10, 2016

Elliot ParkElliot Park is a second generation entrepreneur, who we are pleased to announce as the MBDA June Entrepreneur of the Month.  Mr. Park is the CEO of Shine Electronics Co., Inc., which is a wireless telecommunication industry leader that specializes in the reverse logistics of wireless and cell phone products. 

Shine Electronics was founded by Park’s father, Kyu H. Park, in 1974 as a service center that provided high-quality, quick-turn, repairs and refurbishments of costly electronic products to companies, such as Motorola, LG Corporation and U.S. Cellular.  In 2014, the company identified a niche in the marketplace for the refurbishment of pre-owned mobile and electronic products, and honed in on the need for devices in emerging countries.

SelectUSA Investment Summit Spotlight: The U.S. Government Pavilion

Blogged By: 
Felicia Pullam is the Director of Outreach for SelectUSA.
Created on June 8, 2016

The 2016 A.T Kearney Foreign Direct Investment (FDI) Confidence Index surveyed global executives about their plans for foreign investment, and they ranked the United States at the top for the fourth year in a row. A.T. Kearney also asked executives to identify the two most important factors for deciding where to establish or expand their businesses. “Regulatory transparency and lack of corruption” tied for first place with the size of the domestic market and the cost of labor; each factor was chosen by 15 percent of respondents. The “efficiency of legal and regulatory processes” was just a few points behind at 13 percent.

TPP: Doing Business in Canada

Blogged By: 
Christopher Quinlivan is a Senior Commercial Officer at the International T
Created on June 8, 2016

USA CanadaThe United States and Canada share the world’s largest trading relationship.  The magnitude of the relationship is incredible, accounting for nearly $2 billion in cross border trade each day.  In fact, Canada is the top export market for 35 out of 50 states.  So whether your company is a first-time or seasoned exporter, Canada should be a key component of your overseas growth strategy.

Such deep commercial ties make Canada an ideal “launch pad” for new exporters.  Why?  First, Canada is a highly receptive, open and transparent market for U.S. products and services, with Canadians spending more than 60 percent of their disposable income on U.S. goods and services.  Americans and Canadians “speak” the same language literally and figuratively.  In addition to French in some areas, English is almost universally spoken, making business communication a breeze.  We share a similar lifestyle, engendering a certain level of cultural familiarity.  Finally, close geographic proximity, and initiatives between our governments such as Beyond the Border, Regulatory Cooperation Council and Trusted Traveler make cross-border business increasingly seamless.

MBDA Homecoming

Blogged By: 
Dijon Rolle, MBDA Press Secretary
Created on June 6, 2016

MBDA Post Award ConferenceIt was a family reunion of sorts for nearly 50 Minority Business Development Agency (MBDA) Business Center Operators and Project Directors who traveled from across the United States to attend the 2016 MBDA Post Awards Conference at the U.S. Department of Commerce in Washington, D.C.

The conference is normally held every five years at the start of a new award cycle for the Agency’s funding competition, with the last conference being held in 2011.

The attendees were all recipients of $31.5 million in federal funding awarded to 21 MBDA Business Centers across the United States and Puerto Rico back in April as part of the MBDA Business Center Program.

The Inaugural AAPI Business Summit: Inclusive Innovation Drives Economic Growth

Blogged By: 
Albert K. Shen, MBDA National Deputy Director
Created on May 26, 2016

AAPI Welcome SignsHighlighting the critical nature of their role in America’s global economic position, the U.S. Commerce Department launched the first-ever Asian-American Pacific Islanders (AAPI) Business Summit May 25.

Co-hosted by the Minority Business Development Agency (MBDA) at the Commerce Department, and White House Initiative on Asian Americans and Pacific Islanders (WHIAAPI), the day-long event drew more than 200 members of the AAPI business community, including entrepreneurs, policy makers, and business leaders. Speakers included Congressional representatives and Obama Administration officials who addressed a range of topics and policies focused on strengthening economic ties and creating growth opportunities.

The Summit provided a broad overview of Obama Administration economic development priorities affecting AAPI business owners – one of the fastest-growing populations in the United States. The program centered on solutions for business owners seeking to scale up enterprises, including expanding to overseas markets, accessing capital, and entering high-growth industries such as technology and other STEM-based sectors.

AAPI-Owned Enterprises: An Expanding Part of U.S. & Global Commerce

Nearly 2 million businesses are owned by Asian-Americans and Pacific Islanders nationwide, employing 3.6 million workers, and generating nearly $700 billion in revenue annually, according to the 2012 U.S. Census Bureau’s Survey of Business Owners.  In addition, Census Bureau research indicates that as the U.S. population becomes ‘majority minority’ by 2044, AAPI will represent a significant portion of America’s overall population.

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