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News to Use: Implementing the Affordable Care Act

Blogged By: 
MBDA
Created on July 10, 2013
 

HealthcareThe New HealthCare.gov and the Health Insurance Marketplace

Health insurance is changing in important ways in 2014. HealthCare.gov is ready to help you with the upcoming changes, especially one of the most important: the opening of the new Health Insurance Marketplace.

Answering your questions about health coverage

The resources and tools made available on the website will help you understand your new health coverage options so you can enroll in a plan that works for you and your family. If you run a business, the site will help you find a plan that works for you and your employees. Self-employed? You’re covered too.

Another Year of Record Breaking Performance for MBDA

Blogged By: 
David A. Hinson, National Director
Created on July 10, 2013
 

David Hinson, National Director

The numbers are in and the report is out! Last month, the Minority Business Development Agency (MBDA) released its Annual Performance Report for Fiscal Year 2012 and we are proud to report that FY 2012 was another successful year for the Minority Business Development Agency, the U.S. Department of Commerce, and most importantly for the American business owners that we serve. In FY 2012, MBDA helped create and retain 16,730 jobs, the highest level in the 44-year history of the Agency. This was achieved by helping MBDA clients obtain over $3.6 billion in contracts and capital awards.

In 2012, the agency increased services to minority business owners by adding new MBDA Business Centers in Anchorage, Alaska; Fresno, California; Santa Fe, New Mexico; Bismarck, North Dakota; Tulsa, Oklahoma; and Memphis, Tennessee. In addition, MBDA expanded coverage at select MBDA Business Centers to provide specialty expertise nationwide with the launch of the agency’s Federal Procurement Center – the first of its type – in Washington, DC; the Export Support Business Center located at the University of Texas at San Antonio; and the Atlanta MBDA Business Center that serves as the Advanced Manufacturing and Healthcare Technology Business Center at the Georgia Institute of Technology.   

As we look ahead, MBDA will maintain jobs created and retained by clients as its key measurement of performance; however, a new Agency goal will focus on creating and retaining those jobs by generating international contract opportunities. Currently exporting to over 60 nations, minority-owned firms possess skills and relationships that make them one of the most effective exporters in the United States. In FY 2012, MBDA’s export support resulted in nearly $100 million in export transactions, and we plan to generate over $1 billion in international contract opportunities over the next five years. 

Four Types of Export Financing

Blogged By: 
MBDA
Created on July 10, 2013
 

Loan ApplicationMany small businesses think they are too small to compete in the world market. In fact, 97 percent of all exporters are small businesses. The U.S. Government has loans, insurance and grant programs to help you become an exporter or expand your exporting business. Here are four different types of financing programs:

Export Development and Working Capital Financing

Enables U.S. businesses to obtain loans that facilitate the export of goods or services by providing the liquidity needed to accept new business, grow international sales and compete more effectively in the international marketplace.

Exporting is Good for Business!

Blogged By: 
MBDA
Created on July 10, 2013
 

Global GrowthWhy Consider Exporting?

  • Access. Today, improvements in trade finance, the Internet, and trade agreements have dramatically increased access to markets worldwide.

  • Demand. More than 70 percent of the world’s purchasing power is located outside of the United States. Your competitors are increasing their global market share, and you can too.

  • Profitability. Exporting can be profitable for businesses of all sizes. On average, sales grow faster, more jobs are created, and employees earn more than in non-exporting firms.

  • Competitive Advantage. The United States is known throughout the world for high quality, innovative goods and services, customer service, and sound business practices.

  • Risk Mitigation. Most companies that export have an easier time riding out fluctuations in the U.S. economy and are more likely to stay in business.

We’re Listening to Businesses about the Health Care Law

Blogged By: 
Blog by Valerie Jarrett, senior advisor to President Barack Obama
Created on July 9, 2013
 

From the start, this Administration has encouraged an ongoing dialogue with the leaders of our nation’s businesses, large and small. There’s more to do, but working together we’ve helped rebuild our economy. Businesses have added 6.9 million private-sector jobs in the past 39 months and we’ve helped strengthen the middle class. Today, most Americans get their health insurance through their jobs and that will be the case moving forward.

To help restore middle class security, we are making health care more affordable to businesses, government, and American families through the Affordable Care Act. While major portions of the law have yet to be implemented, it’s already a little more affordable for businesses to offer quality health coverage to their employees. A recent report suggests that medical cost growth will be lower in 2014 than an already low rate in 2013, both “defying historical patterns.”

Did you know...

Between 2002 and 2007, minority-owned firms outpaced the growth of non-minority firms in gross receipts, employment, and number of firms. Minority firms are an engine of job creation.
Graph for MBE Growth

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