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How Do You Say Pickle in Chinese?

November 28, 2012

By Ann Sullivan, WIPP Government Relations

Recently, I had the privilege to participate in a White House Business Council meeting focusing on the fiscal cliff. After briefings from Jeffrey Ziets, the Obama Administration's point man on the federal budget, and Alan Krueger, Chairman of the President's Council of Economic Advisers, our group broke into smaller sessions. Since increasing women exporters is a WIPP priority, the session led by Chairman and President of the Export-Import (Ex-Im) Bank, Fred Hochberg caught my attention.

According to Chairman Hochberg's numbers, the Ex-Im Bank exceeded expectations in 2012 by financing over $35 billion in exports—a new record. That support translated to $50 billion in export sales, more than 250,000 American jobs in over 3,000 companies covering every sector of commerce. More importantly, $6 billion flowed directly to small businesses while finance authorization to women-owned and minority-owned businesses increased by 16.5%. You can find these numbers, and many more on the businesses affected in the FY 2012 Ex-Im Bank Annual Report at http://go.usa.gov/Yh3A - and you might be surprised at just which businesses are getting involved with export.

When I asked the Mr. Hochberg for some advice to interest women business owners in exporting, he offered this example: "Miss Jenny's Pickles” is a women-owned small business (and I mean small—they only have four full time employees) in North Carolina that was not the most likely company to think about exporting in a tough economy. As the story goes, the owners approached Mr. Hochberg after he gave a presentation on exporting. And grow they did—selling more and more pickles to a surprising place. China.

By partnering with resources available to everyone (for free)—from the Small Business Administration to the Commerce Department, Ex-Im Bank and North Carolina's Department of Agriculture, their pickles—available in four flavors—are finding consumers not just in Tennessee and Virginia, but Beijing and Shanghai. The revenues have allowed for growth, and it all began with an export business plan and some help from the government.

Fred Hochberg's big takeaway: if a pickle company in North Carolina can do it, so can you. Ex-Im Bank is used to working with small businesses and offers insurance against receivables. The Bank doesn't lend – it guarantees financing, assisting businesses in obtaining capital.

WIPP's ExportNOW program, launched last month is just getting started with webinars and information to assist you in becoming an exporter.

The global economy awaits. And by the way, pickle is 泡菜.

Resources For Small Business Exporters - Government Can Help

November 27, 2012

Last week marked the 5th Annual Global Entrepreneurship Week, celebrating the growing interconnected marketplace in which we all work. The Small Business Administration (SBA), aligned the goals of that week - international trade and cooperation - to one of the Obama Administration, the National Export Initiative (NEI). The NEI is the driving force behind the goal to double American exports by 2015.

The SBA's International Trade Office is focused on making America's small businesses a key part of that growth in export. The most recent post, commenting on Global Entrepreneurship Week, talks about the many resources available for small businesses. Click here to find the article.

WIPP has started its own educational and outreach export component, ExportNOW - linking women-owned businesses to the knowledge and resources to be successful exporting companies. Check out the ExportNOW tab on the WIPP website with resources and links to help your business begin exporting.

Small Business Administration and Exporting in 2012

October 31, 2012

When FY2012 ended at the beginning of October, the Small Business Administration (SBA) began identifying trends in lending, spending and agency movement that will continue to be relevant in 2013. These trends offer good insights to small businesses that rely on the SBA as an indelible resource to their success.

Business owners know to follow trends with a keen eye - discerning sound opportunities from temporary fads. Act too slowly and you've missed a real chance to expand, too quickly and realize you've wasted time, money, and precious resources.

One trend that should not be overlooked is the impressive expansion of the SBA in the area of export financing. Consistent with President Obama's National Export Initiative - seeking to double exports by 2014, largely through small businesses - the SBA grew at a record rate with regards to international trade.

- 106% increase in number of loan guarantees

- 207% increase in dollars loaned; reflecting $923 million in loans and $1.7 billion in overall small business export

- Since 2009, the SBA has guaranteed more than 6,000 loans totaling over $3 billion

SBA Administrator Karen Mills, whose leadership was critical to growth, commented that "these record-setting numbers are proof that our efforts to streamline and simplify the process have made it possible to get capital into the hands of small businesses more quickly".

WIPP is standing right alongside the SBA in aiding small businesses to understand and begin exporting. In the last month, WIPP launched ExortNOW as an educational program aimed at introducing its members to the ninety-five percent of the world's consumers who live outside our borders (and spend two of every three dollars). You can learn more about ExportNOW and its launch here.

ExportNOW recently hosted its first webinar featuring the Department of Commerce and their International Trade Administration Outreach team for an "Export 101" on what businesses - specifically women-owned businesses - should know about export. Click here for the presentation and here for the podcast. If you have specific questions regarding export, please reach out to Jason Lalak, jlalak@wipp.org.

Michelle Thompson-Dolberry Announces Export Program at CGI America

June 20, 2012

Michelle Thompson-Dolberry, WIPP Director of Strategic Initiatives, announced the export program at the Clinton Global Initiative America to promote export growth among women-owned businesses: "Through our 61 strategic relationships and partnerships, we will work to further export capabilities for current exporters and help others find successful strategies to expand their business through exports."

Thank you all!

Barbara

WIPP - President