Business Forward Foundation Commerce Dept. Launches Program to Boost U.S. Exports

In an economic report released this week by the Department of Commerce, data shows that nearly one-third of the country’s economic growth since mid-2009 has been driven by exports. Nearly 30,000 businesses have started exporting for the first time. And most importantly, since 2009, the number of jobs supported by exports has grown by 1.6 million to more than 11.3 million – the highest in 20 years.

Small businesses across the country are continuing to take advantage of new markets and export their products overseas. Access to these markets can be crucial to business leaders looking to expand, but they often need more information before deciding on a business strategy.

This week, President Obama and Commerce Secretary Penny Pritzker announced the next phase of the National Export Initiative to encourage small and medium size businesses and farms.

The NEI/NEXT program will:

Connect more U.S. businesses to customers across the world with tailored industry-specific information and assistance.
Make the international shipment easier and less expensive, through efforts to streamline U.S. government export-related services, reporting requirements and processes, and speeding American goods to more markets through domestic infrastructure improvements.
Expand access to finance for U.S. businesses’ export transactions, helping more exporters obtain financing to meet international demand, and ensuring more companies know what products and services are available to reduce risk and export to new markets with confidence.
Promote exports and foreign direct investment attraction as the next economic development priority in communities and regions across the country by enhancing partnerships with local and state leaders and by coordinating with SelectUSA, the U.S. government-wide program housed within the Department of Commerce to facilitate foreign direct investment.
Create, foster and ensure opportunity for U.S. businesses by helping developed and developing economies improve their business environments, by opening new markets, and by establishing conditions and addressing barriers to allow more American exporters to compete and win abroad.

If you’re interested in learning more, join a conference call with Bruce Andrews, Chief of Staff at the U.S. Department of Commerce, to discuss the next phase of the National Export Initiative on Thursday, May 15. There will be time for you to ask questions and share your advice at the end of the call.