How Trade Benefits Small Businesses

Topline Small businesses contributed approximately two-thirds of new private sector job growth over the last 25 years. Many of America’s small firms have found that to continue growing, they will need to look outside the U.S.’s borders, where 95 percent of the world’s consumers and more than 75 percent of the world’s purchasing power reside. Download the 2-pager >   Trade and Small Business Performance Small businesses may particularly benefit from trade agreements because they...

What International Trade Agreements Mean for Your Business

The resources below will introduce you to the two trade agreements currently under negotiation and connect you to resources your business can use to help you take advantage of the opportunities that can come from doing businesses internationally. Read more: Download Business Forward’s Overview of the Ongoing Trade Negotiations Read more: Download Business Forward’s Two-Pager on Trade’s Effect on Small Businesses If you have a story to tell about how trade affects your business,...

FDR would have supported international trade agreement

Image via North Country Public Radio Evoking the venerated president’s history promoting trade diplomacy, Georgetown professor and former White House International Economic Affairs Director Steve Glickman argues Congress should support an international trade agreement currently under negotiation with Japan and 10 other countries in the Asia-Pacific region. Let’s not forget that America has a long history of using economic and trade diplomacy to achieve foreign policy goals. Just a few years...

Export-Import Bank Supports 160,000 Jobs

The Export-Import Bank has finished another fiscal year providing needed financial support to American exporters. The Bank provided over $5 billion in financing to small business exports, with the total authorized coming close to $21 billion. These transactions supported approximately 164,000 jobs. The Export-Import Bank is a federal agency that supports and maintains jobs by working with the private sector to provide financing for export deals when traditional sources are unavailable. The...

The Ex-Im Bank Just Gave $675 Million to Taxpayers

The Export-Import Bank reported last week that it returned $675 million to the Treasury Department. The news comes weeks after Congress decided to temporarily reauthorize the Bank’s charter until the end of June 2015, a move met with rare opposition for the Bank as some on Congress sought to close it. The Bank operates on profits made from loans, fees, and other assistance and consistently returns money to the federal government. In fact, the bank operates at no cost to taxpayers. The United...

Op/Ed: The Ex-Im Bank; Too important to fail

Originally published in The Hill When you think of a global business, you might not think of one whose single location is in Olney, Texas, a rural town located 100 miles west of Fort Worth with three traffic lights and a Dairy Queen. But in fact, our company, Air Tractor, exports products to more than 25 countries around the world. Our global reach has been critical to our successful growth. Our 260 employees manufacture and sell small airplanes for spraying agriculture crops and...

Congress Gives Export-Import Bank Temporary Lifeline

Congress has temporarily reauthorized the Export-Import Bank by passing a continuing resolution that included a provision extending the Bank’s charter to the end of June 2015. The bill now heads to the White House for the President’s signature.  By passing the CR before October 1, Congress avoided both a government shutdown and closing the Export-Import Bank that supported over 200,000 jobs last year. However, the funding in the CR will last until December 11, and the...

Op/Ed: Ex-Im Bank is big ally for small business

Michael Cavanaugh is co-owner and executive vice president of Floratine Products Group in Collierville. This op-ed was originally published in The Commercial Appeal. As a local business owner, my goals are similar to those of other small-business owners, chief among them ensuring we can grow our business and provide steady paychecks for our employees. Floratine, which I co-own with my brother, Kevin, and other shareholders, develops and manufactures specialty fertilizer products for...

U.S. Exports Support 11.3 Million Jobs and Growing, New Reports Show

Two new reports from the Commerce Department show just how important exports are to job creation and economic growth. Yesterday, Secretary of Commerce Penny Pritzker, U.S. Trade Representative Michael Froman, and Columbus Mayor Michael Coleman held a press conference in conjunction with the release of new geographic data on export-related jobs. Exports contributed to almost a third of economic growth since the recession. Some parts of the country have particularly benefited from exports....

What You Need to Know About the Ex-Im Bank

When Congress returns from their August recess, they will have two weeks to decide the fate of the Export-Import Bank. The bank’s authorization expires on October 1, and without action from Congress before then, it will shut down, putting American exporters at a competitive disadvantage. What is the Ex-Im Bank? The Export-Import (Ex-Im) Bank is a Congressionally-chartered federal agency that provides trade financing to facilitate the purchase of American-made good by foreign customers....