You don’t need a boat to go where most small businesses export. China’s economy may get a lot of our press, but our neighbors, Canada and Mexico, get a lot more of our exports. Total U.S. exports of goods to Canada and Mexico in 2009 were $154.8 billion and $116.4 billion, respectively, while exports to China were $65.6 billion.
The International Trade Administration’s recently released Small & Medium-Sized Exporting Companies: Statistical Overview, 2009 finds 275,843 exporters in 2009. Of this number, 269,269 or 97.6 percent were small businesses. But small businesses only accounted for 32.8 percent or $308 billion of the total export revenue in 2009.
For both small and large exporters, most of the exports came from the manufacturing and wholesale trade industries, which is not surprising considering the data does not cover services exports. These two industries combined represented about 85 percent of exporting value and 60 percent of the exporting businesses.
Small businesses interested in starting or expanding sales of their goods and services overseas have access to a new, free online tool that will gauge their readiness to export and help them develop an export business plan.
The Export Business Planner, developed by the U.S. Small Business Administration, offers a ready-made, customizable and easily accessible document that can be updated and referenced continuously as the business grows.
The Planner, located at www.sba.gov/exportbusinessplanner, allows users to:
Determine their export readiness
Generate Green Job Growth in the U.S. and Help Improve the Business Relationship between the U.S. and China
Recently, a client of the Minority Business Development Agency (MBDA), Ecotech Global Solutions (Ecotech), made inroads into the growing Chinese market that will also help to reduce greenhouse gas emissions.
On May 6, 2011, during the U.S.-China Energy Efficiency Forum at Lawrence Berkley National Laboratory, Ecotech signed a landmark agreement in the fields of energy efficiency and carbon reduction with China Quality Certification Center (CQC). This collaboration, and others like it, demonstrates that the path to economic prosperity and the path to environmental sustainability are one and the same.
Ford Motor Company announced recently that it had exceeded its supplier diversity sourcing goal, purchasing $4.1 billion in goods and services from minority-and women-owned companies.
The success of Ford’s supplier diversity efforts illustrates how valuable minority-owned business enterprises are to our country’s top companies and our economy overall. From heavy equipment to financial services, no matter what the demands of your supply chain are, there’s a minority-owned firm that can fulfill them. In fact, the number of high-quality minority-owned businesses spread across every sector of the economy totals 5.8 million.
To better assist corporate America in locating minority business enterprises with scale and capacity, supplier diversity executives should put the Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce, on speed dial. MBDA can help you find these firms and put you in contact with them so you can establish the kinds of profitable partnerships that more and more Fortune 500 companies are seeking out. In 2010, with the help of the MBDA network of business centers, MBDA helped the private sector secure more than $850 million in products and services from minority firms.
MBDA Seeks Bids for Business Center Focused Exclusively on Federal Procurement
The month of May has brought with it a number of announcements, news releases and opportunities of interest to the MBE constituency MBDA serves. With this month’s newsletter I’d like to highlight two opportunities for your participation—one designed to create jobs and another intended to reform government rules. I’d also like to present new business statistics about Asian, Native Hawaiian, and Other Pacific Islander businesses.
Just last week, the Obama Administration announced the Jobs and Innovation Accelerator Challenge to promote innovation and job growth and advance our global competitiveness. The competition offers a total of $33 million in funding from three federal agencies and technical assistance from 13 additional agencies to promote the development of at least 20 industry clusters across the country. The U.S. Department of Commerce’s Economic Development Administration will be investing $10 million in funding and the Minority Business Development Agency (MBDA) will be supporting the program’s implementation.
The goal of the program is to spur economic growth through public-private partnerships in 20 regions across the country. Applicants to this federal funding opportunity will be considered based on their ability to demonstrate a focus and measurable outcomes on achieving sustainable economic growth in the region; augmenting business formation, especially of small businesses, and leveraging existing business assets; increasing exports; developing a skilled workforce through outreach, training and the creation of career pathways, and integrating historically underserved businesses and communities into the economic activities of the regional cluster.